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Revenue
₹2,116 Cr
verified against source
Revenue YoY
21%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Kirloskar Oil Engines delivered a record Q4 with consolidated revenue of ₹2,116 crore (+21% YoY) and PAT of ₹162 crore (+47% YoY). Standalone revenue hit ₹1,522 crore (+24% YoY), driven by broad-based double-digit growth across Power Gen (+30%), Industrial (+24%), and Distribution & Aftermarket (+20%). The company sold over 50,000 DG sets in FY26, gaining market share to ~28% in a market that grew 18%. International gross sales crossed ₹1,000 crore, growing 37% YoY. Management reiterated the $2 billion revenue target by FY30 and announced a ₹1,400 crore capex for a new HHP engine facility at Kagal, expected to add 20,000 engines and generate asset turns of 4-5x. Key risks include raw material inflation (copper, pig iron) and geopolitical disruptions in the Middle East, though no near-term impact was noted. The company remains confident in sustaining margin expansion through operating leverage as new capacities come online.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated the goal of reaching $2 billion in revenue by fiscal year 2030, underpinned by strong domestic and international growth.
- Investment of ₹1,400 crore over two years for a new 20,000-engine facility at Kagal, focused on high horsepower engines, with asset turns expected at 4-5x.
- The previously announced 50,000-engine capacity expansion (₹700 crore) is on track to be operational by April 2027.
- Management expects operating leverage to kick in as new capacities ramp up, with intention to maximize margin expansion.
Risks flagged
- Copper and pig iron prices have risen significantly; management noted it may be hard to absorb all cost increases, implying potential margin pressure.
- Middle East contributes a significant portion of international revenue; while no impact was seen in Q4, ongoing tensions could affect future demand.
- The ₹1,400 crore capex for HHP capacity is a significant investment; delays or cost overruns could impact returns and cash flows.
Key quotes
- We are now amongst the top 10 manufacturers in the world by volume in the industrial and power gen space.
- Our market share has improved significantly across all nodes. In our high horsepower segment, where our market share was negligible a couple of years ago, we are now approaching double digits.
- We have the capability to address nodes even beyond 3,000 KVA. We are executing an order of nuclear power corporation: 10 units, each unit is 6.3 megawatt gen set.
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