Kirloskar Ferrous Industries Ltd
Kirloskar Ferrous Industries Ltd
Metals & MiningKey Fundamentals
MicrocapPig IronMetals & MiningInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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36 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 24.8%
Weaknesses
2- Company has a low return on equity of 11.7% over last 3 years.
- Promoter holding has decreased over last 3 years: -5.83%
Growth Rate
AI Analysis — Bull vs Bear
Kirloskar Ferrous Industries Ltd is a mid-cap metals company with a market cap of ₹7,707 Cr trading at a PE of 15.1x. The company posted 80% TTM profit growth and maintains a 1.29% dividend yield, but its stock has declined 23% over the past year and promoter holding has fallen by 5.83% over three years.
- TTM compounded profit growth of 80% indicates a strong earnings recovery cycle
- 10-year compounded sales CAGR of 20% demonstrates consistent long-term revenue expansion
- 10-year compounded profit CAGR of 25% reflects durable earnings growth over a full business cycle
- PE of 15.1x is reasonable for a metals company with 80% TTM profit growth, suggesting earnings are not excessively priced
- 10-year stock CAGR of 20% shows significant long-term wealth creation for shareholders
- Healthy dividend payout ratio of 24.8% with a current yield of 1.29% provides income alongside capital appreciation
- 5-year compounded sales CAGR of 28% shows the company scaled meaningfully during the recent commodity upcycle
- Last year ROE of 15% shows improving capital efficiency compared to the 3-year average of 12%
- Stock has declined 23% over the past 1 year, significantly underperforming broader markets
- Promoter holding decreased by 5.83% over the last 3 years, signaling potential lack of promoter confidence
- 3-year compounded sales CAGR of only 2% indicates revenue stagnation after the initial post-pandemic surge
- 3-year ROE average of just 11.7-12% is below cost of equity for most investors in cyclical sectors
- 3-year stock CAGR of -4% shows the stock has destroyed value for medium-term investors
- Price-to-book ratio of 1.99x is not cheap for a metals business with sub-12% 3-year ROE
- Tax rate appears low which may normalize in future periods, compressing net margins
- 3-year compounded profit CAGR of only 6% versus TTM of 80% suggests the recent profit spike may be driven by a low base rather than structural improvement
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- SC rejects mining royalty request Jul 14
Supreme Court upheld government's position in mining royalty dispute, rejecting Kirloskar Ferrous Industries' request. This legal setback could have implications for the company's mining cost structure going forward.
- Strong FY26 results and dividend Jul 13
KFIL reported FY2026 net sales of ₹6,888.57 Crores, PAT of ₹504.74 Crores, and recommended total dividend of 120% (₹6 per share including ₹3 final dividend). TDS documents due by July 17, 2026.
TL;DR: Kirloskar Ferrous delivered solid FY26 financials with ₹504.74 Cr PAT and a generous 120% dividend payout, signaling confidence in cash flows. The key risk is the Supreme Court ruling against the company in the mining royalty dispute, which could raise operational costs. Overall, fundamentals remain healthy but the legal overhang on mining royalties warrants monitoring for margin impact in FY27.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,498 | 1,559 | 1,545 | 1,532 | 1,554 | 1,667 | 1,609 | 1,737 | 1,698 | 1,728 | 1,618 | 1,817 | 1,772 |
| Expenses | 1,288 | 1,303 | 1,329 | 1,351 | 1,366 | 1,472 | 1,433 | 1,536 | 1,481 | 1,514 | 1,432 | 1,593 | 1,556 |
| Operating Profit | 210 | 256 | 216 | 181 | 187 | 195 | 177 | 201 | 217 | 214 | 186 | 225 | 216 |
| OPM % | 14% | 16% | 14% | 12% | 12% | 12% | 11% | 12% | 13% | 12% | 11% | 12% | 12% |
| Other Income | 4 | -31 | 10 | -18 | 8 | 17 | 10 | 24 | 8 | 9 | -13 | 44 | -12 |
| Interest | 29 | 30 | 29 | 32 | 33 | 37 | 39 | 35 | 34 | 33 | 29 | 30 | 29 |
| Depreciation | 46 | 57 | 60 | 69 | 58 | 60 | 62 | 67 | 64 | 64 | 67 | 69 | 69 |
| PBT | 139 | 139 | 137 | 62 | 104 | 115 | 85 | 124 | 127 | 126 | 77 | 170 | 105 |
| Tax % | 31% | 37% | 31% | 29% | 28% | 26% | 28% | 26% | -85% | 27% | 29% | 26% | 22% |
| Net Profit | 96 | 87 | 94 | 44 | 76 | 85 | 61 | 92 | 235 | 92 | 55 | 126 | 82 |
| EPS in Rs | 6.92 | 6.26 | 6.75 | 3.17 | 5.42 | 5.16 | 3.72 | 5.56 | 14.3 | 5.61 | 3.34 | 7.62 | 4.99 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,365 | 1,114 | 1,277 | 1,765 | 2,159 | 1,850 | 2,038 | 3,615 | 6,399 | 6,134 | 6,564 | 6,889 | 6,935 |
| Expenses | 1,214 | 963 | 1,105 | 1,654 | 1,945 | 1,634 | 1,577 | 2,968 | 5,559 | 5,266 | 5,802 | 6,039 | 6,095 |
| Operating Profit | 151 | 151 | 172 | 111 | 214 | 216 | 462 | 647 | 840 | 868 | 762 | 850 | 840 |
| OPM % | 11% | 14% | 13% | 6% | 10% | 12% | 23% | 18% | 13% | 14% | 12% | 12% | 12% |
| Other Income | 1 | 2 | 5 | 4 | 3 | 15 | 3 | 11 | 44 | -39 | 44 | 37 | 29 |
| Interest | 30 | 24 | 11 | 11 | 16 | 17 | 25 | 28 | 95 | 120 | 144 | 125 | 121 |
| Depreciation | 50 | 44 | 46 | 50 | 54 | 58 | 76 | 88 | 169 | 232 | 256 | 267 | 270 |
| PBT | 72 | 85 | 121 | 54 | 147 | 156 | 363 | 543 | 619 | 477 | 406 | 494 | 478 |
| Tax % | 31% | 32% | 27% | 30% | 33% | 28% | 17% | 25% | 29% | 33% | 28% | -2% | — |
| Net Profit | 49 | 58 | 88 | 38 | 98 | 112 | 302 | 406 | 440 | 322 | 291 | 505 | 355 |
| EPS in Rs | 3.59 | 4.2 | 6.4 | 2.77 | 7.13 | 8.15 | 21.84 | 29.28 | 31.64 | 23.08 | 17.68 | 30.6 | 21.56 |
| Div. Payout % | 35% | 30% | 27% | 45% | 28% | 25% | 23% | 19% | 17% | 24% | 31% | 20% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 70 | 82 | 82 |
| Reserves | 386 | 423 | 514 | 524 | 589 | 653 | 930 | 1,267 | 2,935 | 3,170 | 3,355 | 3,782 |
| Borrowings | 133 | 108 | 111 | 72 | 127 | 311 | 292 | 1,193 | 969 | 1,224 | 1,278 | 1,036 |
| Other Liabilities | 340 | 256 | 292 | 534 | 605 | 586 | 641 | 1,069 | 1,498 | 1,429 | 1,633 | 1,689 |
| Total Liabilities | 928 | 857 | 986 | 1,199 | 1,390 | 1,619 | 1,933 | 3,598 | 5,472 | 5,892 | 6,349 | 6,589 |
| Fixed Assets | 542 | 550 | 574 | 561 | 608 | 854 | 1,012 | 1,160 | 2,990 | 3,103 | 3,513 | 3,610 |
| CWIP | 31 | 8 | 19 | 73 | 62 | 144 | 162 | 219 | 205 | 487 | 339 | 332 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 489 | 58 | 10 | 1 | 1 |
| Other Assets | 355 | 298 | 392 | 565 | 720 | 621 | 758 | 1,729 | 2,219 | 2,291 | 2,496 | 2,645 |
| Total Assets | 928 | 857 | 986 | 1,199 | 1,390 | 1,619 | 1,933 | 3,598 | 5,472 | 5,892 | 6,349 | 6,589 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 161 | 116 | 75 | 129 | 158 | 204 | 296 | 168 | 804 | 567 | 662 | 942 |
| Investing | -57 | -32 | -70 | -57 | -161 | -316 | -223 | -910 | -217 | -635 | -476 | -444 |
| Financing | -106 | -89 | 2 | -79 | 2 | 118 | -70 | 756 | -605 | 48 | -176 | -453 |
| Net Cash Flow | -1 | -5 | 7 | -7 | -1 | 6 | 3 | 14 | -18 | -20 | 9 | 45 |
| Free Cash Flow | 102 | 83 | 1 | 70 | -4 | -113 | 82 | -256 | 388 | 52 | 180 | 494 |
| CFO/OP | 116 | 89 | 57 | 129 | 93 | 108 | 83 | 44 | 115 | 82 | 99 | 112 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 47 | 46 | 60 | 60 | 64 | 58 | 65 | 54 | 48 | 53 | 58 | 58 |
| Inventory Days | 52 | 57 | 61 | 69 | 67 | 76 | 99 | 92 | 106 | 111 | 110 | 101 |
| Days Payable | 91 | 84 | 82 | 114 | 118 | 121 | 128 | 143 | 102 | 92 | 105 | 111 |
| Cash Conversion Cycle | 8 | 19 | 39 | 16 | 13 | 13 | 35 | 3 | 52 | 72 | 64 | 48 |
| Working Capital Days | -16 | -3 | 13 | 4 | 11 | -7 | -1 | -37 | 10 | 9 | 4 | 7 |
| ROCE % | 17% | 18% | 20% | 10% | 23% | 19% | 33% | 30% | 22% | 15% | 12% | 13% |
Documents
Frequently Asked Questions about Kirloskar Ferrous Industries Ltd
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Company Information
KFIL, incorporated in 1991, is a part of the Pune-based Kirloskar Group. KFIL manufactures pig iron and ferrous castings such as cylinder blocks, cylinder heads, and transmission parts and different types of housings required by automobile, tractor and diesel engine industries. It is one of the leading players in foundry-grade pig iron manufacturing and ferrous castings in the domestic market.[1]