Kirloskar Oil Engines logo

Kirloskar Oil Engines

KIRLOSENG NSE

Key Fundamentals

SmallcapCompressors Pumps & Diesel EnginesIndustrial Products
Market Cap
₹32,886 Cr
Volatility
Moderate
P/E Ratio
59.69
EBITDA
₹1,486 Cr
Return on Equity
15.6%
Debt to Equity
1.48
Book Value
₹248.68
EPS
₹33.13
52W High
₹2,720
52W Low
₹865.55

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company has delivered good profit growth of 25.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.9%

Weaknesses

1
  • Stock is trading at 9.00 times its book value

Growth Rate

Revenue Growth
21.79% higher than 3Y
Net Income Growth
17.76% lower than 3Y
Cash Flow Change
226% lower than 3Y
ROE
0.71% lower than 3Y
ROCE
14.36% higher than 3Y
EBITDA Margin (Avg.)
-1.14% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk high

Kirloskar Oil Engines has a market capitalisation of about ₹31,581 crore. Profit has compounded at 25% over 5 years and 28% on a TTM basis, sales at 19% over 5 years and 23% TTM, and ROE has risen from a 10-year average of 13% to 18% in the last year. The stock trades at 59x earnings and 8.71x book value after a 134% return over the past year, which is well ahead of earnings growth over the same period.

Bull Case 7
  • Profit has compounded at 25% over 5 years and 22% over 3 years. TTM profit growth of 28% shows the growth rate is holding up and even picking up.
  • TTM profit growth of 28% is higher than TTM sales growth of 23%. That gap suggests operating leverage or margin gains rather than growth from revenue alone.
  • Return on equity has improved steadily: 13% over 10 years, 15% over 5 years, 17% over 3 years and 18% last year. Capital efficiency is getting better.
  • Sales growth has sped up. The 5-year sales CAGR of 19% and TTM growth of 23% are well above the 10-year CAGR of 12%, a sign of stronger demand in recent years.
  • The dividend payout ratio is 18.9%, so about 81% of earnings stays in the business to fund growth while still paying shareholders.
  • The stock has returned 59% CAGR over 5 years, backed by 25% profit CAGR over the same period. Part of the return comes from actual earnings growth, not just a higher multiple.
  • At a market cap of about ₹31,581 crore, the company is a mid-cap in industrial products. It is large enough for institutional investors to hold while still having room to grow.
Bear Case 7
  • A P/E of 59 against 3-year profit CAGR of 22% and TTM growth of 28% gives a PEG ratio of about 2.1 to 2.7. The market is already pricing in continued fast growth.
  • The price-to-book ratio is 8.71 (listed as 8.58 in the known cons), while ROE is 18%. That works out to an earnings yield on book of about 2%, which leaves little room if returns come in lower.
  • The 1-year stock return of 134% is roughly 4.8 times the 28% TTM profit growth. Much of the recent gain came from the stock being re-rated to a higher multiple, which can reverse if sentiment changes.
  • The dividend yield is 0.32%, so shareholders get almost no income cushion if the stock falls.
  • Over 10 years, sales grew at 12% CAGR and profit at 16%, well below the recent 5-year rates of 19% and 25%. The current strong phase may not reflect the company's long-run growth rate.
  • The 10-year average ROE of 13% is modest for a stock at 8.71x book. The recent 18% ROE still has to prove it can last through a full business cycle.
  • The data provided has no debt-to-equity, ROCE or 52-week range figures. Balance sheet leverage and trading range can't be checked from this dataset alone.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Headwinds 2
  • ESOP pool expansion vote fails Sep 22

    A postal ballot resolution to raise the ESOP grant pool from 14 lakh to 15 lakh options was not passed on September 22, 2026, with 29.65% of votes against. The result points to shareholder pushback on equity dilution and limits how much more stock-based pay the company can offer to keep talent.

  • ₹9.06 Cr GST show cause Sep 28

    GST authorities issued a ₹9.06 crore show cause notice for FY23 over input tax credit (ITC) mismatch and HSN misclassification. The company expects no material impact, so this is a small compliance risk rather than a financial one.

Positives 1
  • Deutz partnership opens Western markets Sep 2

    KOEL signed a strategic partnership with DEUTZ on the 1.6-litre R550 engine platform, which delivers 18 to 41.2 kW for construction and industrial machinery. The platform meets EU Stage V and US EPA/CARB Tier 4 emission norms and will use DEUTZ's distribution network to reach Europe and North America.

Neutral 2
  • Morgan Stanley industrials seminar meet Sep 10

    KOEL hosted a virtual group meeting with Morgan Stanley analysts on September 16, 2026, as part of the Virtual India Industrials & Energy Seminar. This is routine investor engagement and keeps institutional visibility high.

  • Valiant Capital 1x1 call Sep 24

    A virtual one-on-one meeting with Valiant Capital is scheduled for September 29, 2026. The company describes it as part of regular investor engagement, with no new disclosures expected.

TL;DR: The DEUTZ R550 partnership is KOEL's most important recent development, giving it emission-compliant engines and a ready distribution network to grow exports in Europe and North America. The risks are small: the failed ESOP resolution (29.65% against) shows some shareholder resistance on governance and dilution, and the ₹9.06 crore GST notice looks financially immaterial. Steady meetings with Morgan Stanley and Valiant Capital suggest institutional interest is holding up. The near-term trend looks stable to slightly better, and the key thing to watch is how fast the DEUTZ deal turns into export orders and revenue.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,543
1,305
1,391
1,660
1,632
1,505
1,454
1,749
1,762
1,948
1,873
2,116
2,000
Expenses
1,277
1,103
1,133
1,357
1,307
1,207
1,199
1,437
1,435
1,567
1,541
1,740
1,699
Operating Profit
266
201
258
303
325
298
255
312
327
382
331
376
300
OPM %
17%
15%
19%
18%
20%
20%
18%
18%
19%
20%
18%
18%
15%
Other Income
7
8
-24
23
18
19
11
36
39
13
-13
2
15
Interest
76
74
82
97
101
118
133
131
139
136
128
120
116
Depreciation
27
30
31
31
30
33
37
39
40
42
43
49
49
PBT
170
105
122
198
211
166
95
179
187
216
148
210
151
Tax %
26%
26%
26%
26%
26%
25%
28%
29%
26%
26%
26%
26%
26%
Net Profit
126
78
89
147
156
125
68
127
139
159
109
155
111
EPS in Rs
8.67
5.38
6.2
10.25
10.98
8.79
4.91
9.03
9.77
11.18
7.66
10.91
7.82
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,464
2,674
3,055
3,626
3,379
3,296
4,022
5,020
5,898
6,329
7,701
7,937
Expenses
2,187
2,390
2,790
3,251
3,085
2,909
3,610
4,286
4,871
5,148
6,287
6,547
Operating Profit
277
283
265
376
295
387
412
734
1,027
1,181
1,414
1,390
OPM %
11%
11%
9%
10%
9%
12%
10%
15%
17%
19%
18%
18%
Other Income
49
83
72
63
52
17
27
29
16
92
44
17
Interest
9
3
12
13
14
50
106
210
329
482
523
499
Depreciation
111
111
123
94
87
84
101
105
119
139
174
183
PBT
205
253
203
331
245
270
232
449
595
651
761
725
Tax %
19%
31%
33%
34%
23%
27%
26%
26%
26%
27%
26%
—
Net Profit
165
174
136
220
188
197
171
332
440
476
562
535
EPS in Rs
11.44
12.02
9.66
15.16
12.81
13.48
12.07
22.96
30.48
33.69
39.51
37.57
Div. Payout %
44%
42%
52%
33%
31%
30%
33%
22%
20%
19%
18%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
29
29
29
29
29
29
29
29
29
29
29
Reserves
1,415
1,588
1,547
1,670
1,716
1,893
2,053
2,275
2,647
3,057
3,591
Borrowings
7
12
142
90
189
849
1,965
3,244
4,142
5,819
5,374
Other Liabilities
519
541
783
807
825
1,026
975
1,169
1,450
1,573
1,851
Total Liabilities
1,970
2,170
2,500
2,595
2,759
3,797
5,021
6,717
8,268
10,478
10,846
Fixed Assets
475
440
702
663
623
698
721
689
769
1,183
1,327
CWIP
29
15
30
41
78
55
43
69
293
98
149
Investments
791
988
675
711
433
834
738
658
489
601
440
Other Assets
674
727
1,093
1,180
1,626
2,210
3,519
5,302
6,718
8,597
8,930
Total Assets
1,970
2,170
2,500
2,595
2,759
3,797
5,021
6,717
8,268
10,478
10,846
Figures in ₹ Crores

Cash Flow

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
99
171
136
192
-124
-16
-1,041
-920
-469
-739
932
Investing
82
-190
7
-38
233
-465
-3
-145
-109
-522
-320
Financing
-176
2
-96
-153
-43
599
950
1,182
800
1,510
-589
Net Cash Flow
6
-16
48
1
67
118
-93
117
223
248
23
Free Cash Flow
22
114
26
139
-206
-120
-1,165
-1,081
-846
-996
595
CFO/OP
52
71
83
83
-16
8
-233
-109
-31
-49
79
Figures in ₹ Crores

Ratios

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
23
27
48
41
45
49
43
38
38
40
45
Inventory Days
49
49
64
49
69
68
54
64
67
60
61
Days Payable
82
77
91
69
70
106
80
79
83
72
78
Cash Conversion Cycle
-10
0
21
21
43
10
17
23
22
28
28
Working Capital Days
7
20
17
13
47
0
13
4
-49
-33
-2
ROCE %
—
13%
10%
17%
12%
13%
10%
13%
15%
14%
15%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others6.25%Promot.41.07%FIIs11.33%Public15.35%DIIs26.00%As ofJun 2026

Documents

Frequently Asked Questions about Kirloskar Oil Engines

What does Kirloskar Oil Engines Ltd do?
KOEL, one of the flagship companies of the Kirloskar group, manufactures and services diesel engines and diesel generator sets. The company also makes diesel, petrol and kerosene-based pump sets. It has manufacturing units in Pune, Kagal, and Nashik. The company caters to the agriculture, power g...
Where is Kirloskar Oil Engines Ltd (KIRLOSENG) listed?
Kirloskar Oil Engines Ltd trades as KIRLOSENG on the NSE and under code 533293 on the BSE.
Which sector does Kirloskar Oil Engines Ltd belong to?
Kirloskar Oil Engines Ltd is classified under the Industrial Products sector, in the Compressors Pumps & Diesel Engines industry.
What is the market capitalisation of Kirloskar Oil Engines Ltd?
Kirloskar Oil Engines Ltd has a market capitalisation of ₹32,886 Cr, which places it in the Large Cap band.
What is the PE ratio of Kirloskar Oil Engines Ltd?
Kirloskar Oil Engines Ltd trades at a PE ratio of 59.69, on earnings per share of ₹33.13, against a book value of ₹248.68 per share.
What is the 52-week high and low of Kirloskar Oil Engines Ltd?
Over the last 52 weeks Kirloskar Oil Engines Ltd has traded between ₹865.55 and ₹2,720.
Does Kirloskar Oil Engines Ltd pay dividends?
Kirloskar Oil Engines Ltd has a dividend yield of 0.30%.
What is the Return on Equity (ROE) of Kirloskar Oil Engines Ltd?
Kirloskar Oil Engines Ltd reported a return on equity of 15.60%. Its debt-to-equity ratio is 1.48.

Company Information

KOEL, one of the flagship companies of the Kirloskar group, manufactures and services diesel engines and diesel generator sets. The company also makes diesel, petrol and kerosene-based pump sets. It has manufacturing units in Pune, Kagal, and Nashik. The company caters to the agriculture, power generation, and industrial sectors.[1]

Website kirloskaroilengines.com
CEO Mr. Sachin Kejriwal
Employees 2,469
Listed 2010-12-24
Face Value ₹ 2
Issued Size 14,53,31,414

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