KLBRENGB Q4 FY26 earnings call.
A source-linked concall view: reported numbers, management language, guidance, commitments and risks that should carry forward.
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Revenue
₹189 Cr
verified against source
Revenue YoY
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reported change
EBITDA
Pending
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Actual signal trajectory
Where this quarter sits.
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What the record says.
Kilburn Engineering delivered consolidated Q4 FY26 revenue of ₹189 crore with EBITDA margin of 22.95%, while full-year FY26 revenue stood at ₹629 crore with 25.13% EBITDA margin. The order backlog of ₹467 crore combined with a ₹4,000+ crore inquiry pipeline provides reasonable visibility, though management flagged geopolitical headwinds causing quarter-delays on major order closures. Working capital days expanded to 184 from 169, with trade receivables up ₹100 crore due to heavy Q4 dispatches (₹130 crore vs. ₹50-60 crore prior year). Management targets 20-25% revenue growth to ₹750-800 crore in FY27 with EBITDA margins of 22-23%. Key risks include logistics disruptions affecting Monga Strayfield dispatches, the Moroccan order's 50-60 crore receivables awaiting realization, and granular delays. Capex of ₹40 crore continues across facilities with Sarai and ME Energy Phase 2 expansions expected by Q2 FY27.
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Guidance to track
- Management targets 20-25% year-over-year growth based on order backlog conversion and expected order intake of ₹800-1,000 crore in FY27.
- With ₹4,000+ crore inquiry pipeline, management expects to close ₹450-500 crore (50%) of pipeline by end of Q2 FY27.
- Management maintains 20%+ EBITDA margin guidance while targeting 22-23% sustainable margins across engineering projects and subsidiaries.
- Kilburn factory expansion at Sarai and ME Energy Phase 2 expansion at Pune both expected to be completed by end of Q2 FY27, enabling capacity for ₹1,000 crore revenue by FY28.
Risks flagged
- Middle East crisis caused delays in finalizing major orders and Monga Strayfield dispatches; several orders expected in Q4 got pushed to Q1-Q2 FY27 by 2-3 months.
- Standalone trade receivables increased by ₹100 crore due to heavy Q4 dispatches; working capital days expanded from 169 to 184, with collections expected from June onward.
- An order from Granules India remains on hold with no resolution; status quo maintained, representing potential lost revenue opportunity.
- Blocked international shipping routes extended container availability lead times; Monga Strayfield had to store ready goods waiting for dispatch logistics.
Key quotes
- We are not guiding for 20%, we are saying 20% plus. We have also mentioned we are looking at maintaining our margins which are there today which is the 22-23%.
- The leverage has already been achieved and that's why we are stable at 25% EBITDA margin. It's not that from 25% we can jump to 30 or 35%. That will not happen because we are also building the company for the future.
- Most of our dealings are with the private sector. We are not facing any payment delays from them. The money will be realized from the customers in the next 3-4 months so we believe that the working capital cycle will again normalize as collections come in.
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