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Revenue
₹1,415 Cr
verified against source
Revenue YoY
10%
reported change
EBITDA
₹209.3 Cr
latest reported figure
Source
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record provenance
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What the record says.
Kirloskar Brothers reported Q4 FY26 consolidated revenue of ₹1,451.5 crore, up 10% YoY, with EBITDA margin of 14.8%. Domestic revenue grew 3% to ₹909.1 crore, while international revenue surged 25% driven by strong order execution in the Netherlands, South Africa, SP UK, and SP USA. PAT stood at ₹112.1 crore. The domestic order book rose 30% to ₹2,468 crore, and international order book grew 21% to ₹1,408.8 crore, reflecting robust demand across building & construction, marine & defense, oil & gas, and power. However, execution was impacted by SAP ERP implementation at the foundry and delays in Jal Jeevan Mission fund releases. Management expects double-digit growth in FY27, contingent on geopolitical stability and operational improvements. Key risk: sustained weakness in UK service margins due to high energy costs and mix shift away from services.
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Guidance to track
- Management aims for double-digit revenue growth in FY27, driven by strong order book and operational improvements, though geopolitical risks remain.
- Alok Kirloskar expects international EBITDA margins to realign to FY25 levels by the third quarter of calendar 2026, as service mix improves.
- SAP ERP implementation at the foundry is largely stabilized and expected to improve operational efficiency, cost control, and order execution going forward.
Risks flagged
- High UK power prices (>₹30/unit) are reducing service work from energy-intensive industries, compressing margins at SP UK.
- Delays in fund releases at the state level continue to impact dispatches under JJM, though it is only 4-5% of revenue.
- Wars and gas shortages could disrupt raw material availability and increase costs, though management believes it can pass on price increases.
Key quotes
- We continue to follow our commercial policies which is especially for the small and medium and keroskadi range of products we insist on advance and we insist on letter of credit.
- The order book that you see right now coming into the UK and US is fueled by oil and gas, water and data centers. Oil and gas is the lowest margin. Data centers is great margin but they're not as close to service.
- We have many data center opportunities and even as we speak right now, we have eight data center packages on the shop floor in the US plant.
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