Kirloskar Oil Engines Ltd logo

Kirloskar Oil Engines Ltd

KIRLOSENG NSE

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]

AI Verdict: HOLD Confidence: 5%

Kirloskar Oil Engines has delivered exceptional profit growth of 25.4% CAGR over 5 years and strong ROE of 18%, but the stock trades at a PE of 51.2x and 8.0x book value after a 135% rally in 1 year, leaving limited margin of safety at current levels.

Key Fundamentals

SmallcapCompressors Pumps & Diesel EnginesIndustrial Products
Market Cap
₹36,686 Cr
Volatility
High Risk
P/E Ratio
62.86
EBITDA
₹1,383 Cr
Return on Equity
16.53%
Debt to Equity
1.73
Book Value
₹249.02
EPS
₹33.13
52W High
₹2,720
52W Low
₹829.6

Technical Indicators

Key Insights

Strengths

1
  • Company has delivered good profit growth of 25.4% CAGR over last 5 years

Weaknesses

1
  • Stock is trading at 10.3 times its book value

Growth Rate

Revenue Growth
20.29% ↗
Net Income Growth
24.12% ↘
Cash Flow Change
-57.63% ↘
ROE
-5.81% ↘
ROCE
-17.32% ↘
EBITDA Margin (Avg.)
-7.97% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

Kirloskar Oil Engines has delivered exceptional profit growth of 25.4% CAGR over 5 years and strong ROE of 18%, but the stock trades at a PE of 51.2x and 8.0x book value after a 135% rally in 1 year, leaving limited margin of safety at current levels.

Bull Case 7
  • Strong profit growth of 25.4% CAGR over 5 years demonstrates consistent earnings compounding
  • TTM revenue growth of 21% indicates robust demand momentum in the industrial engines segment
  • ROE has improved from 13% (10-year average) to 18% last year, showing improving capital efficiency
  • TTM profit growth of 34% significantly outpaces sales growth of 21%, indicating margin expansion
  • 80% of analysts (4 out of 5) have a Buy rating, reflecting positive institutional consensus
  • 10-year compounded sales CAGR of 12% demonstrates long-term business durability through cycles
  • 3-year stock CAGR of 70% reflects sustained re-rating driven by fundamental improvement, not just momentum
Bear Case 8
  • PE ratio of 51.2x is extremely elevated for an industrials company, pricing in years of growth
  • Price-to-book of 8.0x is very rich and leaves significant downside risk if growth disappoints
  • Dividend yield of just 0.13% offers virtually no income cushion during potential corrections
  • Stock has rallied 135% in 1 year, raising risk of mean reversion and profit-booking
  • Only 5 analysts cover the stock, indicating limited institutional scrutiny and potential liquidity risk
  • 5-year ROE average of 15% does not justify an 8x price-to-book multiple on a sustainable basis
  • Market cap of Rs 29,052 Cr appears stretched relative to the 10-year profit CAGR of only 16%
  • No debt-to-equity data available creates uncertainty around balance sheet leverage position

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

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 1
  • ₹5.82 Cr tax notice received Jun 1

    Received show cause notice demanding ₹5.82 crore for ITC mismatch in FY 2022-23. The company plans to file a reply, but this flags potential regulatory/compliance risk.

Positives 1
  • 192 MW order from HyperNext Jun 19

    Secured a 192 MW order from HyperNext for Optiprime power systems, signaling strong demand in the distributed power segment.

Neutral 1
  • ₹18.97 Cr block trade on NSE Jun 22

    Block trade of ~79,390 shares at ₹2,389.80 per share worth ₹18.97 crore on NSE, indicating institutional activity without clear directional signal.

TL;DR: Kirloskar Oil Engines is seeing healthy order momentum with a sizeable 192 MW win from HyperNext, reinforcing its power systems growth story. The ₹5.82 crore tax notice is a minor overhang but manageable given the company's scale. Institutional block trade activity suggests continued market interest. Overall trend is constructive, with order inflows being the key monitorable for sustained re-rating.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,384
1,543
1,305
1,391
1,660
1,632
1,505
1,454
1,749
1,764
1,948
1,873
2,116
Expenses
1,196
1,277
1,103
1,133
1,357
1,307
1,207
1,199
1,437
1,437
1,567
1,541
1,741
Operating Profit
188
266
201
258
303
325
298
255
312
327
382
331
376
OPM %
14%
17%
15%
19%
18%
20%
20%
18%
18%
19%
20%
18%
18%
Other Income
11
7
8
-24
23
18
19
11
36
39
13
-13
4
Interest
64
76
74
82
97
101
118
133
131
139
136
128
120
Depreciation
26
27
30
31
31
30
33
37
39
40
42
43
49
PBT
109
170
105
122
198
211
166
95
179
187
216
148
210
Tax %
27%
26%
26%
26%
26%
26%
25%
28%
29%
26%
26%
26%
26%
Net Profit
79
126
78
89
147
156
125
68
127
139
159
109
155
EPS in Rs
5.45
8.67
5.38
6.2
10.25
10.98
8.79
4.91
9.03
9.77
11.18
7.66
10.91
Figures in ₹ Crores

Profit & Loss

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
2,464
2,674
3,055
3,626
3,379
3,296
4,022
5,020
5,897
6,349
7,701
Expenses
2,187
2,390
2,790
3,251
3,085
2,909
3,610
4,286
4,873
5,164
6,286
Operating Profit
277
283
265
376
295
387
412
734
1,025
1,185
1,415
OPM %
11%
11%
9%
10%
9%
12%
10%
15%
17%
19%
18%
Other Income
49
83
72
63
52
17
27
29
18
90
42
Interest
9
3
12
13
14
50
106
210
328
483
523
Depreciation
111
111
123
94
87
84
101
105
119
140
174
PBT
205
253
203
331
245
270
232
449
595
652
761
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
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
Div. Payout %
44%
42%
52%
33%
31%
30%
33%
22%
20%
19%
11%
Figures in ₹ Crores

Balance Sheet

  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
1,571
1,858
Total Liabilities
1,970
2,170
2,500
2,595
2,759
3,797
5,021
6,717
8,268
10,476
10,852
Fixed Assets
475
440
702
663
623
698
721
689
769
1,183
1,415
CWIP
29
15
30
41
78
55
43
69
293
98
61
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
8,595
8,937
Total Assets
1,970
2,170
2,500
2,595
2,759
3,797
5,021
6,717
8,268
10,476
10,852
Figures in ₹ Crores

Cash Flow

  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
-321
Financing
-176
2
-96
-153
-43
599
950
1,182
800
1,509
-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

  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
13
ROCE %
—
13%
10%
17%
12%
13%
10%
13%
15%
14%
15%

Shareholding Pattern

As of Mar 2026
Promoters 41.07%
DIIs 26.69%
Public 15.82%
FIIs 10.79%
Others 5.63%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
59.44%
59.44%
59.44%
59.44%
59.44%
59.44%
59.44%
59.42%
41.25%
41.23%
41.23%
41.23%
41.21%
41.18%
41.17%
41.16%
41.15%
41.13%
41.12%
41.08%
41.07%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
7.80%
9.06%
9.77%
9.98%
10.79%
10.99%
9.14%
8.48%
8.34%
8.45%
10.79%
DIIs
14.08%
13.68%
13.34%
16.91%
16.70%
16.80%
13.55%
14.67%
27.96%
28.57%
24.28%
24.37%
25.17%
25.44%
24.93%
25.03%
26.58%
27.20%
27.99%
28.20%
26.69%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
16.95%
17.15%
17.34%
18.59%
18.73%
18.55%
19.09%
16.97%
18.08%
18.30%
20.09%
19.43%
18.31%
18.32%
18.50%
18.14%
18.27%
18.15%
17.20%
16.62%
15.82%
Others
9.52%
9.73%
9.87%
5.06%
5.13%
5.21%
7.92%
8.95%
12.70%
11.91%
6.59%
5.92%
5.55%
5.08%
4.61%
4.68%
4.86%
5.05%
5.35%
5.65%
5.63%
No. of Shareholders
0
42,041
43,631
46,208
50,140
52,717
52,669
57,254
56,261
55,394
72,798
68,891
77,565
1,07,323
1,21,481
1,12,540
1,09,948
1,09,607
1,03,209
1,02,516
1,06,666

Documents

Frequently Asked Questions about Kirloskar Oil Engines Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: KIRLOSENG and BSE: 533293. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Kirloskar Oil Engines Ltd belong to?
Kirloskar Oil Engines Ltd operates in the Industrials sector within the Industrial Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Kirloskar Oil Engines Ltd?
Kirloskar Oil Engines Ltd has a market capitalisation of approximately ₹36686.26 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Kirloskar Oil Engines Ltd?
The Price-to-Earnings (PE) ratio of Kirloskar Oil Engines Ltd is 62.86. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Kirloskar Oil Engines Ltd?
Over the past 52 weeks, Kirloskar Oil Engines Ltd has traded between a low of ₹829.6 and a high of ₹2,720. This range helps investors understand the stock's price volatility and recent trading levels.
Does Kirloskar Oil Engines Ltd pay dividends?
Yes, Kirloskar Oil Engines Ltd has a dividend yield of 0.10%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Kirloskar Oil Engines Ltd?
Kirloskar Oil Engines Ltd has a Return on Equity (ROE) of 16.53%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Kirloskar Oil Engines Ltd on Tapetide?
On Tapetide, you can view Kirloskar Oil Engines Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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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