Kirloskar Industries Limited (KIRLOSIND)

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Kirloskar Industries Limited (KIRLOSIND) · mywealthgrid

About

Kirloskar Industries manufactures iron and steel products for industrial use. With quarterly core revenue around ₹1,600–₹1,800 crore and a market cap of ₹3,942 crore, it is a mid-cap player in a capital-intensive, cyclical sector. The company is promoter-controlled at 71.87% with minimal institutional ownership.

Face value: ₹10

Market cap

₹3,645 Cr

P/E

24.3×

P/B

0.6×

Dividend yield

0.4%

ROE

3.2%

ROCE

—

Debt / equity

0.18

OPM

12.3%

EPS (TTM)

₹142.6

Book value

₹5,946.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

ROE of 3.16% despite stable revenue raises concerns about capital efficiency on a ₹3,942 Cr market base; verify whether capital deployment is generating competitive returns.

PE 26.29 against ROE 3.16% indicates the market is pricing in earnings or margin expansion not yet visible in current results; verify the credibility of this assumption.

Operating margins of 11–13% in the core segment (₹1,600–₹1,800 Cr quarterly) leave minimal buffer if input costs rise or selling prices face pressure in a cyclical downturn.

Stock has fallen 9.76% over one year despite regular dividend payouts and stable revenue; verify whether unresolved business headwinds or valuation reset underlie the move.

Generated analysis · source review pending

Growth drivers

Smaller segments delivering 45–89% operating margin demonstrate the company can produce high-profitability products; verify whether management plans expansion or mix shift toward these segments.

Core segment revenue of ₹1,600–₹1,800 Cr per quarter remains stable without visible growth; verify whether the steel and industrial-products cycle offers volume-expansion opportunity.

D/E ratio of 0.18 indicates unused debt capacity available for capex or acquisitions; verify whether management is deploying this to improve returns on capital.

Regular dividend payouts over five years demonstrate cash generation; verify what share of annual earnings is retained for reinvestment and whether that reinvestment is generating returns.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹3,471.4-3%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 27.6% over the last 5 years
+High promoter holding of 71.9% with no pledge

Cons

−Low return on equity of 4.2% (3-yr avg)
−Low dividend payout of 9.1% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

41/100

Business quality: 36
Growth: 11
Valuation: 75

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,886	2,055	3,783	6,466	6,368	6,608	6,939
COGS	1,133	1,052	2,267	3,698	3,477	3,731	3,896
Gross profit	753	1,002	1,516	2,768	2,892	2,877	3,043
	518	546	859	1,907	1,951	2,108	2,191
	235	456	657	861	940	769	852
OPM %	12.5%	22.2%	17.4%	13.3%	14.8%	11.6%	12.3%
Depreciation	60	79	95	176	242	259	272
Interest	19	27	31	97	122	146	126
	44	28	38	70	-20	83	62
Profit before tax	200	378	568	658	556	447	516
Tax	49	66	252	198	195	139	12
Tax %	24.7%	17.6%	44.4%	30.1%	35.1%	31%	2.4%
	—	311	316	460	361	308	503
PAT margin %	—	15.2%	8.4%	7.1%	5.7%	4.7%	7.3%
EPS (₹)	98.8	168.7	198.7	228.5	193.7	146.4	217.5
EPS adjusted (₹)	—	168.7	198	227	192.9	296.1	216.5
	10.1%	5.9%	5%	4.8%	6.7%	8.9%	6%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	10	10	—	10	10	10	10	10	11
Reserves	875	917	—	1,736	2,319	3,063	4,844	8,145	6,239
Minority interest	—	—	—	489	1,737	1,850	1,884	—	2,097
	97	72	323	292	1,204	979	1,241	1,283	1,113
	597	847	—	670	1,516	1,631	1,784	2,213	2,231
Total equity & liabilities	1,578	1,845	—	3,196	6,786	7,533	9,764	11,651	11,690
	581	593	—	1,039	2,762	3,092	3,243	3,593	3,665
CWIP	19	76	—	230	398	388	728	651	733
Investments	555	521	541	1,086	1,208	1,575	3,392	4,730	4,399
	423	655	—	842	2,418	2,478	2,400	2,678	2,893
Total assets	1,578	1,845	—	3,196	6,786	7,533	9,764	11,651	11,690

₹ Cr	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	88	91	256	333	760	576	598	871
	-51	-31	-194	-931	-369	-600	-537	-471
	-28	-71	-56	647	-397	-5	-70	-355
Net cash flow	9	-10	6	50	-5	-29	-8	46
Free cash flow	13	2	35	-102	279	77	89	421
CFO / Operating profit %	—	—	56.1%	50.7%	88.4%	61.3%	77.8%	102.3%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Iron Casting (Refer Note 3 below)	4,314.19	397.1	3,751.32	2,035.19	1,716.13	23.14
Tube (Refer Note 3 below)	2,342.74	181.16

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	39.9%	48.8%	40.1%	42.8%	45.4%	43.5%	43.8%
EBITDA margin %	12.5%	22.2%	17.4%	13.3%	14.8%	11.6%	12.3%
EBIT margin %	9.2%	18.3%	14.8%	10.6%	11%	7.7%	8.4%
PAT margin %	—	15.2%	8.4%	7.1%	5.7%	4.7%	7.3%
Working capital
Receivable days	—	64	78	—	—	—	—
Inventory days	—	99	160	112	108	110	101
Payable days	—	128	173	—	—	—	—
NWC days	—	35	65	—	—	—	—
Leverage
Current ratio	—	0.92	0.91	—	—	—	—
Debt to EBITDA	1.38	0.64	1.83	1.14	1.32	1.67	1.31
Debt to equity	—	0.17	0.52	0.32	0.26	0.16	0.18
Interest coverage	11.7	15.1	19.3	7.8	6.1	4	5.2
Asset turnover	—	0.64	0.56	0.86	0.65	0.57	0.59
Return ratios
Return on assets %	—	9.7%	4.7%	6.1%	3.7%	2.6%	4.3%
Return on capital employed %	—	17.1%	17.8%	—	—	—	—
Return on equity %	—	17.8%	13.6%	15%	7.4%	3.8%	8.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.77%	71.77%	71.51%	71.45%	71.31%	72.57%	72.56%	72.53%	72.52%	71.87%	71.87%	71.87%
	0.69%	0.73%	0.63%	0.71%	0.7%	0.6%	0.6%	0.54%	0.53%	0.48%	0.5%	0.5%
	1.9%	1.9%	1.89%	1.95%	1.96%	1.88%	1.89%	1.91%	1.94%	1.92%	1.88%	1.87%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.64%	25.6%	25.97%	25.89%	26.03%	24.95%	24.95%	25.02%	25.01%	25.73%	25.75%	25.76%
No. of shareholders	—	—	—	—	—	—	—	—	22,148	21,841	21,961	22,719

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	8	0	0%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

21

Final dividend11 Aug 2026 · ex-date₹13
Final dividend6 Aug 2025 · ex-date₹13
Final dividend17 Sept 2024 · ex-date₹13
Final dividend4 Aug 2023 · ex-date₹11
Final dividend1 Aug 2022 · ex-date₹10
Final dividend2 Aug 2021 · ex-date₹10
Interim dividend23 Mar 2020 · ex-date₹10
Final dividend31 Jul 2019 · ex-date₹21
Dividend dividend2 Aug 2018 · ex-date₹21
Dividend dividend18 Aug 2017 · ex-date₹20
Interim dividend21 Mar 2016 · ex-date₹20
Dividend dividend19 Aug 2015 · ex-date₹20
Dividend dividend22 Aug 2014 · ex-date₹4
Dividend dividend30 Jul 2013 · ex-date₹4
Dividend dividend16 Jul 2012 · ex-date₹4
Dividend dividend13 Jul 2011 · ex-date₹2.5
Interim dividend3 Feb 2010 · ex-date₹1.5
Final dividend6 Jul 2009 · ex-date₹1
Final dividend3 Jul 2008 · ex-date₹1
Interim dividend1 Feb 2008 · ex-date₹1
Final dividend5 Jul 2007 · ex-date₹2

1

Board meeting to consider results12 Aug 2026

1

Bonus 1:125 Oct 2007 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

46 announcementsExport CSV

1 Oct 2026, 7:37 pmCompany Update

Update Of Material Subsidiary

General PDF

1 Oct 2026, 7:31 pmCompany Update

Update Of Material Subsidiary

General PDF

1 Oct 2026, 10:44 amCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

1 Oct 2026, 10:12 amCompany Update

Announcement under Regulation 30 (LODR)-Cessation

Cessation PDF

30 Sept 2026, 10:11 amCompany Update

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

Allotment of ESOP / ESPS PDF

21 Sept 2026, 5:35 pmCompany Update

Update Of Material Subsidiary.

General PDF

21 Sept 2026, 3:24 pmCompany Update

Update Of Material Subsidiary.

General PDF

21 Sept 2026, 3:20 pmCompany Update

Update Of Material Subsidiary

General PDF

Date	Category	Subject	Filing
1 Oct 2026, 7:37 pm	Company Update General	Update Of Material Subsidiary	PDF
1 Oct 2026, 7:31 pm	Company Update General	Update Of Material Subsidiary

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	39.9%	48.8%	40.1%	42.8%	45.4%	43.5%	43.8%
EBITDA margin %	12.5%	22.2%	17.4%	13.3%	14.8%	11.6%	12.3%
EBIT margin %	9.2%	18.3%	14.8%	10.6%	11%	7.7%	8.4%
PAT margin %	—	15.2%	8.4%	7.1%	5.7%	4.7%	7.3%
Working capital
Receivable days	—	64	78	—	—	—	—
Inventory days	—	99	160	112	108	110	101
Payable days	—	128	173	—	—	—	—
NWC days	—	35	65	—	—	—	—
Leverage
Current ratio	—	0.92	0.91	—	—	—	—
Debt to EBITDA	1.38	0.64	1.83	1.14	1.32	1.67	1.31
Debt to equity	—	0.17	0.52	0.32	0.26	0.16	0.18
Interest coverage	11.7	15.1	19.3	7.8	6.1	4	5.2
Asset turnover	—	0.64	0.56	0.86	0.65	0.57	0.59
Return ratios
Return on assets %	—	9.7%	4.7%	6.1%	3.7%	2.6%	4.3%
Return on capital employed %	—	17.1%	17.8%	—	—	—	—
Return on equity %	—	17.8%	13.6%	15%	7.4%	3.8%	8.1%

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Mahesh R. ChhabriaOther	BuyESOP	3,921	₹39,210	0.06% → 0.10%	1 Oct 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

7 deals · 3 Sept 2021 – 3 Sept 2021

Date	Client	Type	Venue	Side	Quantity	Price	Value
3 Sept 2021	INDIA CAPITAL MANAGEMENT LIMITED A/C INDIA CAPITAL FUND LIMITED	Bulk	BSE	Sell	2,16,854	₹1,407.09	₹30.51 Cr
3 Sept 2021	ANUJ ANANTRAI SHETH	Block	BSE	Buy	80,000	₹1,407.00	₹11.26 Cr
3 Sept 2021	INDIA CAPITAL MANAGEMENT LIMITED A/C INDIA CAPITAL FUND LIMITED	Block	BSE	Sell	80,000	₹1,407.00	₹11.26 Cr
3 Sept 2021	ANUJ ANANTRAI SHETH	Bulk	BSE	Buy	80,000	₹1,407.00	₹11.26 Cr
3 Sept 2021	INDIA CAPITAL MANAGEMENT LIMITED A/C INDIA CAPITAL FUND LIMITED	Block	BSE	Sell	76,984	₹1,407.00	₹10.83 Cr
3 Sept 2021	GAGANDEEP CREDIT CAPITAL PRIVATE LIMITED	Block	BSE	Buy	76,984	₹1,407.00	₹10.83 Cr
3 Sept 2021	GAGANDEEP CREDIT CAPITAL PRIVATE LIMITED	Bulk	BSE	Buy	76,984	₹1,407.00	₹10.83 Cr

1–7 of 7

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Kirloskar Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

21

1

1

Announcements

21

1

1

Not in the F&O segment

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Asset held for Sale · revenue

Kirloskar Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

Dividends21

Board meetings1

Bonus issues1

Announcements

Dividends21

Board meetings1

Bonus issues1

Ratio timeline

Not in the F&O segment

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Asset held for Sale · revenue

21

1

1

21

1

1