Kirloskar Pneumatic Company Ltd
Kirloskar Pneumatic Company Ltd
Industrial ProductsKey Fundamentals
MicrocapCompressors Pumps & Diesel EnginesIndustrial ProductsInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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39 extracted metrics + investor summaries across FY15–FY27.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
4- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 33.5% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 30.8%
Weaknesses
1- Stock is trading at 7.97 times its book value
Growth Rate
AI Analysis — Bull vs Bear
Kirloskar Pneumatic is a high-quality, debt-free compounder with 23% ROE and 36% profit CAGR over 3 years, but the stock trades at a steep 50x PE and 10.18x book value, leaving limited margin of safety at the current market cap of Rs 12,818 crore.
- Debt-free balance sheet provides financial resilience and flexibility for future capex or acquisitions
- Exceptional profit CAGR of 36% over 3 years significantly outpaces sales growth, indicating strong operating leverage
- ROE has expanded from 16% (10-year average) to 23% last year, showing improving capital efficiency
- 5-year compounded sales growth of 16% demonstrates consistent demand for industrial pneumatic and air compression products
- Unanimous analyst consensus with 100% buy ratings from all 3 covering analysts
- Healthy dividend payout of 27.9% with 0.61% yield shows shareholder-friendly capital allocation despite being a growth company
- Stock CAGR of 29% over 10 years reflects sustained long-term wealth creation track record
- TTM profit growth of 26% remains robust even as base effects normalize from the high-growth period
- PE ratio of 50x is extremely rich for an industrial company, pricing in near-perfect execution for years ahead
- Price-to-book of 10.18x leaves no margin of safety and implies the market is paying a significant premium over asset value
- Working capital days have deteriorated sharply from 91.3 to 138 days, signaling potential cash conversion cycle stress
- TTM sales growth has decelerated to just 8% versus 16% five-year CAGR, indicating a possible demand slowdown
- Only 3 analysts cover the stock, meaning limited institutional scrutiny and potential liquidity risk in a downturn
- Dividend yield of 0.61% provides negligible downside cushion at current elevated valuations
- 1-year stock CAGR of 34% has run well ahead of TTM sales growth of 8%, suggesting valuation has stretched beyond fundamentals
- At Rs 12,818 crore market cap, the stock needs to sustain 30%+ profit growth for several years just to grow into its current multiple
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Record FY26 results, PBT up 25% Jun 29
Total income reached ₹17,863.04 Mn in FY26 with PBT up 25% YoY to ₹3,422.33 Mn. Board approved highest-ever 600% dividend and a 1:2 stock split.
- ₹8.50 final dividend declared Jun 18
Board declared final dividend of Rs 8.50 per share for FY26 with record date fixed for July 3, 2026.
- Indigenous centrifugal compressor launch Jul 1
Launched Tezcatlipoca A800 on June 26, India's first indigenously designed centrifugal air compressor in the 600–980 CFM range with Class 0 oil-free air and 45% flow turndown.
- BRSR FY26 filed, 15% renewables Jun 29
Filed BRSR for FY26 with reasonable assurance on core ESG indicators, reporting 15% renewable energy usage and zero fatalities.
- 1x1 meetings with Oaklane Capital Jun 18
Scheduled 1x1 meetings with Oaklane Capital on June 23, 2026. No unpublished price sensitive information to be shared.
TL;DR: Kirloskar Pneumatic delivered a strong FY26 with record revenue, 25% PBT growth, a generous 600% dividend, and a stock split signaling management confidence. The new indigenous centrifugal compressor opens a fresh addressable market in energy-efficient industrial air. No material headwinds are visible in recent news flow, and the trend is clearly improving with strong earnings momentum and product innovation.
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 | 242 | 282 | 309 | 490 | 275 | 431 | 340 | 583 | 272 | 378 | 404 | 706 | 300 |
| Expenses | 216 | 250 | 256 | 398 | 236 | 337 | 292 | 473 | 236 | 320 | 323 | 520 | 254 |
| Operating Profit | 26 | 32 | 53 | 92 | 39 | 94 | 48 | 110 | 36 | 58 | 81 | 186 | 46 |
| OPM % | 11% | 11% | 17% | 19% | 14% | 22% | 14% | 19% | 13% | 15% | 20% | 26% | 15% |
| Other Income | 6 | 4 | 4 | -2 | 4 | 6 | 6 | 2 | 8 | 7 | -12 | 10 | 8 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 9 | 9 | 9 | 8 | 8 | 8 | 6 | 7 | 7 | 8 | 8 | 8 | 9 |
| PBT | 24 | 27 | 47 | 81 | 36 | 92 | 48 | 105 | 37 | 57 | 60 | 188 | 46 |
| Tax % | 24% | 25% | 25% | 25% | 25% | 27% | 25% | 23% | 24% | 24% | 29% | 23% | 25% |
| Net Profit | 18 | 20 | 35 | 60 | 27 | 68 | 36 | 81 | 28 | 43 | 43 | 144 | 34 |
| EPS in Rs | 1.39 | 1.56 | 2.7 | 4.65 | 2.08 | 5.21 | 2.78 | 6.21 | 2.16 | 3.33 | 3.32 | 11.09 | 2.63 |
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 | 441 | 509 | 514 | 600 | 710 | 829 | 823 | 1,021 | 1,239 | 1,323 | 1,629 | 1,759 | 1,788 |
| Expenses | 411 | 458 | 452 | 526 | 621 | 731 | 708 | 880 | 1,072 | 1,118 | 1,335 | 1,396 | 1,416 |
| Operating Profit | 29 | 51 | 62 | 75 | 90 | 98 | 115 | 141 | 168 | 205 | 294 | 363 | 371 |
| OPM % | 7% | 10% | 12% | 12% | 13% | 12% | 14% | 14% | 14% | 15% | 18% | 21% | 21% |
| Other Income | 19 | 21 | 28 | 16 | 14 | 10 | 10 | 12 | 11 | 11 | 18 | 13 | 13 |
| Interest | 1 | 1 | 1 | 1 | 2 | 3 | 4 | 4 | 2 | 2 | 2 | 2 | 0 |
| Depreciation | 19 | 19 | 17 | 17 | 22 | 33 | 38 | 35 | 34 | 35 | 29 | 31 | 33 |
| PBT | 28 | 52 | 71 | 73 | 80 | 72 | 84 | 114 | 143 | 178 | 281 | 342 | 351 |
| Tax % | 21% | 30% | 25% | 31% | 31% | 26% | 24% | 26% | 24% | 25% | 25% | 24% | — |
| Net Profit | 23 | 36 | 54 | 50 | 55 | 53 | 64 | 85 | 109 | 133 | 211 | 258 | 264 |
| EPS in Rs | 1.76 | 2.83 | 4.19 | 3.89 | 4.3 | 4.17 | 4.97 | 6.59 | 8.4 | 10.29 | 16.26 | 19.89 | 20.37 |
| Div. Payout % | 28% | 25% | 24% | 31% | 29% | 32% | 35% | 30% | 33% | 32% | 31% | 30% | — |
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 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 283 | 309 | 413 | 449 | 481 | 482 | 576 | 646 | 782 | 912 | 1,083 | 1,238 |
| Borrowings | 0 | 0 | 0 | 1 | 1 | 28 | 40 | 1 | 1 | 1 | 1 | 0 |
| Other Liabilities | 200 | 181 | 170 | 273 | 254 | 252 | 296 | 365 | 333 | 460 | 517 | 487 |
| Total Liabilities | 496 | 503 | 596 | 736 | 748 | 775 | 924 | 1,025 | 1,130 | 1,385 | 1,613 | 1,738 |
| Fixed Assets | 97 | 82 | 79 | 75 | 122 | 207 | 175 | 229 | 223 | 232 | 291 | 336 |
| CWIP | 1 | 1 | 37 | 68 | 64 | 9 | 8 | 11 | 24 | 35 | 21 | 7 |
| Investments | 115 | 155 | 218 | 199 | 196 | 138 | 223 | 205 | 246 | 358 | 460 | 478 |
| Other Assets | 283 | 266 | 261 | 395 | 366 | 422 | 518 | 579 | 637 | 760 | 841 | 918 |
| Total Assets | 496 | 503 | 596 | 736 | 748 | 775 | 924 | 1,025 | 1,130 | 1,385 | 1,613 | 1,738 |
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 | 3 | 53 | 17 | 63 | 53 | 10 | 57 | 109 | 40 | 183 | 215 | 228 |
| Investing | 18 | -30 | -10 | -15 | -56 | -6 | -49 | -46 | -11 | -136 | -156 | -114 |
| Financing | -15 | -18 | -5 | -14 | -26 | -6 | 10 | -72 | -28 | -33 | -45 | -63 |
| Net Cash Flow | 6 | 4 | 2 | 33 | -30 | -2 | 18 | -9 | 0 | 14 | 14 | 51 |
| Free Cash Flow | 15 | 51 | 3 | 19 | -19 | -44 | 54 | 20 | -2 | 114 | 137 | 163 |
| CFO/OP | 12 | 103 | 58 | 115 | 84 | 33 | 63 | 96 | 44 | 109 | 96 | 85 |
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 | 147 | 109 | 93 | 127 | 94 | 83 | 137 | 107 | 97 | 103 | 107 | 108 |
| Inventory Days | 94 | 78 | 103 | 105 | 94 | 131 | 93 | 132 | 93 | 104 | 85 | 88 |
| Days Payable | 155 | 127 | 132 | 191 | 130 | 113 | 118 | 111 | 82 | 104 | 89 | 106 |
| Cash Conversion Cycle | 86 | 60 | 64 | 41 | 58 | 101 | 111 | 128 | 107 | 103 | 103 | 90 |
| Working Capital Days | 53 | 43 | 43 | 32 | 37 | 50 | 77 | 66 | 82 | 74 | 62 | 67 |
| ROCE % | 7% | 16% | 17% | 16% | 17% | 15% | 15% | 18% | 20% | 22% | 28% | 30% |
Documents
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Company Information
Kirloskar Pneumatic Company Ltd, incorporated in 1958, is part of the Pune-based Kirloskar group. The Co. is engaged in the business of Compression & Transmission segments. It also undertakes O&M services for Compression Packages and has also entered logistic services by operating RoadRailer trains for end to end transportation of goods. It serves a variety of sectors like Oil & Gas, Steel, Cement, Food & Beverages, Railways, Marine and other industries. [1] [2]