Kirloskar Brothers Ltd
Kirloskar Brothers Ltd
Industrial ProductsKey Fundamentals
SmallcapCompressors Pumps & Diesel EnginesIndustrial ProductsInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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50 extracted metrics + investor summaries across FY11–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company has delivered good profit growth of 19.8% CAGR over last 5 years
Weaknesses
1- The company has delivered a poor sales growth of 10.8% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
Kirloskar Brothers Ltd is a mid-cap industrial products company with a market cap of ₹15,220 Cr trading at a PE of 40.3x. The company has demonstrated strong profit growth (19% CAGR over 3 years) and impressive stock returns (30% CAGR over 3 years), but recent TTM sales growth has decelerated to 5% and TTM profit growth has turned negative at -4%.
- Strong compounded profit growth of 19% CAGR over 3 years and 20% CAGR over 5 years, indicating consistent earnings expansion
- Robust 3-year ROE averaging 20%, reflecting efficient capital utilization and shareholder value creation
- Exceptional long-term profit compounding at 34% CAGR over 10 years demonstrates sustained earnings power
- Stock price CAGR of 38% over 5 years and 29% over 10 years shows consistent long-term wealth creation
- 5-year compounded sales growth of 11% shows the company has been able to grow revenue at a reasonable pace over the medium term
- Last year ROE of 17% remains healthy and well above cost of equity for most industrial companies
- 10-year ROE improvement from 14% to 20% (3-year average) suggests structural improvement in profitability and operational efficiency
- TTM profit growth has turned negative at -4%, signaling potential earnings deceleration or margin pressure in the near term
- PE ratio of 40.3x is elevated for an industrial products company with only 5% TTM sales growth, implying limited margin of safety
- TTM sales growth of only 5% is a significant deceleration from the 5-year CAGR of 11%, raising concerns about demand slowdown
- Price-to-book ratio of 6.16x is high for a capital goods company, leaving limited room for valuation re-rating
- Dividend yield of just 0.37% offers minimal income cushion for shareholders during potential price corrections
- 10-year compounded sales growth of only 6% indicates structurally modest top-line growth capability
- Stock price CAGR has slowed to just 1% over the past 1 year, suggesting the market is pricing in near-term headwinds
- ROE has declined from 20% (3-year average) to 17% last year, potentially indicating emerging return compression
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Margin squeeze from labour costs Aug 10
Q1FY27 profits flat at ₹676 million despite 12.8% revenue growth to ₹11,049 million, due to new labour regulation costs and lower high-margin international services.
- Low-confidence director re-appointment Aug 1
Re-appointment of Ms. Rama Kirloskar passed with only 55.46% support at the 106th AGM, signalling some shareholder dissent.
- Orderbook up 21% on energy demand Aug 10
Q1FY27 orderbook expanded 21% driven by strong demand in Oil & Gas and Power segments, providing revenue visibility.
- Double-digit revenue growth target Jul 17
Company targets double-digit revenue growth by FY27 and expects data center segment share to double within two years, reflecting focus on high-growth verticals.
- Strong topline growth at 12.8% Aug 10
Q1FY27 revenue grew 12.8% YoY to ₹11,049 million, demonstrating healthy demand traction across segments.
- Q1FY26 call recording uploaded Aug 3
Kirloskar Brothers uploaded its Q1FY26 analyst conference call audio to its website, complying with SEBI disclosure norms.
- Q1FY27 earnings call scheduled Jul 27
Q1FY27 earnings call scheduled for August 3, 2026 at 2:00 PM IST to discuss unaudited financial results.
- AGM resolutions approved Aug 1
Shareholders approved all six resolutions at the 106th AGM including adoption of FY26 financials and dividend declaration.
TL;DR: Kirloskar Brothers is delivering solid topline growth (12.8%) and building a strong orderbook (+21%), but profitability is being squeezed by labour costs and a less favourable revenue mix. Strategic bets on data centers and energy segments provide a credible growth runway. The trend is constructive on volumes but margin recovery needs monitoring over the next 1-2 quarters.
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 | 900 | 913 | 965 | 1,224 | 1,031 | 1,036 | 1,144 | 1,281 | 979 | 1,028 | 1,116 | 1,415 | 1,105 |
| Expenses | 790 | 818 | 841 | 1,033 | 919 | 894 | 978 | 1,092 | 867 | 919 | 974 | 1,233 | 989 |
| Operating Profit | 110 | 95 | 124 | 191 | 112 | 142 | 166 | 190 | 112 | 108 | 142 | 182 | 116 |
| OPM % | 12% | 10% | 13% | 16% | 11% | 14% | 14% | 15% | 11% | 11% | 13% | 13% | 10% |
| Other Income | 10 | 2 | 16 | 36 | 15 | 14 | 11 | 24 | 16 | 18 | 4 | 1 | 15 |
| Interest | 8 | 6 | 5 | 8 | 6 | 6 | 8 | 6 | 6 | 6 | 9 | 9 | 8 |
| Depreciation | 18 | 19 | 21 | 21 | 21 | 22 | 22 | 24 | 23 | 24 | 25 | 28 | 27 |
| PBT | 95 | 72 | 114 | 199 | 100 | 129 | 146 | 184 | 98 | 96 | 112 | 146 | 95 |
| Tax % | 30% | 34% | 27% | 28% | 29% | 26% | 22% | 33% | 28% | 30% | -7% | 29% | 30% |
| Net Profit | 64 | 51 | 82 | 153 | 66 | 97 | 118 | 138 | 68 | 72 | 125 | 112 | 68 |
| EPS in Rs | 8.02 | 6.35 | 10.31 | 19.17 | 8.2 | 12.05 | 14.76 | 17.27 | 8.4 | 8.94 | 15.65 | 14.04 | 8.39 |
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 | 2,713 | 2,642 | 2,526 | 2,775 | 3,349 | 3,135 | 2,717 | 3,058 | 3,730 | 4,001 | 4,492 | 4,538 | 4,664 |
| Expenses | 2,520 | 2,567 | 2,431 | 2,625 | 3,221 | 2,928 | 2,475 | 2,852 | 3,330 | 3,481 | 3,883 | 3,993 | 4,116 |
| Operating Profit | 193 | 75 | 95 | 151 | 128 | 207 | 241 | 206 | 400 | 520 | 609 | 545 | 548 |
| OPM % | 7% | 2.8% | 3.8% | 5% | 3.8% | 7% | 9% | 7% | 11% | 13% | 14% | 12% | 12% |
| Other Income | 15 | 27 | 31 | 21 | 23 | 37 | 53 | 32 | 22 | 65 | 64 | 38 | 38 |
| Interest | 50 | 51 | 45 | 40 | 47 | 52 | 44 | 33 | 35 | 26 | 25 | 30 | 32 |
| Depreciation | 95 | 66 | 65 | 59 | 64 | 71 | 68 | 70 | 69 | 78 | 89 | 100 | 105 |
| PBT | 63 | -15 | 16 | 73 | 41 | 121 | 182 | 135 | 318 | 481 | 559 | 452 | 449 |
| Tax % | 28% | -25% | 111% | 37% | 113% | 44% | 15% | 40% | 29% | 29% | 28% | 20% | — |
| Net Profit | 45 | -23 | 4 | 50 | 3 | 72 | 161 | 94 | 236 | 350 | 419 | 377 | 377 |
| EPS in Rs | 5.18 | -3.04 | 0.48 | 6.22 | 0.44 | 9.05 | 20.29 | 11.88 | 29.59 | 43.84 | 52.29 | 47.05 | 47.02 |
| Div. Payout % | 10% | -16% | 207% | 40% | 570% | 28% | 15% | 25% | 15% | 14% | 13% | 15% | — |
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 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| Reserves | 996 | 907 | 882 | 927 | 893 | 927 | 1,089 | 1,162 | 1,388 | 1,703 | 2,077 | 2,448 |
| Borrowings | 355 | 362 | 359 | 346 | 380 | 578 | 331 | 396 | 286 | 192 | 182 | 250 |
| Other Liabilities | 1,258 | 1,166 | 1,194 | 1,266 | 1,377 | 1,327 | 1,279 | 1,289 | 1,326 | 1,413 | 1,391 | 1,693 |
| Total Liabilities | 2,625 | 2,450 | 2,451 | 2,555 | 2,666 | 2,848 | 2,715 | 2,862 | 3,016 | 3,325 | 3,666 | 4,407 |
| Fixed Assets | 571 | 501 | 480 | 461 | 457 | 501 | 481 | 532 | 532 | 634 | 655 | 702 |
| CWIP | 12 | 6 | 4 | 13 | 25 | 51 | 73 | 27 | 82 | 32 | 34 | 58 |
| Investments | 0 | 43 | 46 | 49 | 57 | 104 | 195 | 333 | 317 | 410 | 619 | 758 |
| Other Assets | 2,042 | 1,901 | 1,921 | 2,031 | 2,127 | 2,191 | 1,966 | 1,970 | 2,085 | 2,249 | 2,358 | 2,888 |
| Total Assets | 2,625 | 2,450 | 2,451 | 2,555 | 2,666 | 2,848 | 2,715 | 2,862 | 3,016 | 3,325 | 3,666 | 4,407 |
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 | 127 | 97 | 100 | 110 | 62 | 305 | 317 | 114 | 329 | 370 | 386 | 334 |
| Investing | -134 | -47 | -35 | -44 | -57 | -172 | -145 | -183 | -73 | -166 | -236 | -213 |
| Financing | -2 | -50 | -58 | -52 | -23 | 125 | -315 | 30 | -169 | -159 | -92 | -44 |
| Net Cash Flow | -9 | 0 | 8 | 14 | -19 | 259 | -143 | -39 | 87 | 45 | 57 | 78 |
| Free Cash Flow | -2 | 34 | 56 | 58 | -3 | 168 | 245 | 50 | 209 | 259 | 297 | 204 |
| CFO/OP | 82 | 159 | 100 | 82 | 62 | 165 | 146 | 76 | 99 | 95 | 90 | 86 |
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 | 106 | 78 | 77 | 71 | 66 | 57 | 62 | 62 | 48 | 48 | 40 | 53 |
| Inventory Days | 86 | 99 | 122 | 130 | 123 | 137 | 152 | 140 | 133 | 157 | 142 | 142 |
| Days Payable | 158 | 147 | 155 | 144 | 135 | 119 | 138 | 128 | 112 | 122 | 100 | 128 |
| Cash Conversion Cycle | 33 | 30 | 43 | 58 | 55 | 75 | 76 | 73 | 69 | 83 | 82 | 68 |
| Working Capital Days | 36 | 25 | 21 | 36 | 26 | -5 | 14 | 20 | 28 | 36 | 37 | 46 |
| ROCE % | 9% | 3% | 5% | 9% | 7% | 12% | 15% | 11% | 22% | 27% | 28% | 20% |
Documents
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Company Information
Kirloskar Brothers is a part of the Kirloskar Group engaged in the business of engineering and manufacturing of systems for fluid management. The core businesses include large infrastructure projects (Water Supply, Power Plants, and Irrigation), Pumps, Valves, Motors and Hydro turbines. [1] [2]