KENNAMET

Kennametal India share price & financials

Price
₹2,798
Market cap
₹10.4k Cr
Sector
Capital Goods
Calls analysed
5
Latest concall · Q3 FY24 · call held 11 Mar 2024

Kennametal India Q3 FY24

Domestic CNC Machine Growth 46% Hard Metal Export Decline -15% Hard Metal Market Share Improvement 0.025% Royalty Rate 4.75%

Domestic CNC Machine Growth 46%; Hard Metal Export Decline −15%; Hard Metal Market Share Improvement 0.025%. Domestic CNC machine market grew 46% last year.

Read the full call →

What Kennametal India Limited does

Kennametal India designs, manufactures and markets tungsten-carbide metal-cutting tools, wear-resistant materials and CNC machine tools under brands including Kennametal, WIDIA and WIDMA, serving customers in aerospace, general engineering, transportation, earthworks and energy. It operates through two business verticals, Hard Metals and Machine Tools, out of a single manufacturing facility in Bengaluru that also houses its registered office. The company is the Indian arm of, and majority owned by, US-based Kennametal Inc., and sells largely through a distributor network to a base of over 12,000 active customers.

Segments

  • Hard Metals
  • Machine Tools
Employees
772
Active customers
12,000+
Manufacturing facilities
Single factory (co-located with registered office), Tumkur Road, Bengaluru
Business verticals
2 — Hard Metals and Machine Tools
Industries served
Aerospace, general engineering, transportation, earthworks and energy
Subsidiaries / JVs
None (standalone single-entity operations)
Founded 1964Headquarters Bengaluru, Karnataka, IndiaEmployees 772 (FY2024-25 (year ended Ju) Company website

Guidance record · Q3 FY24

what the last two calls moved 9 tracked 3 delivered 4 missed 2 open
  • Gross Margin delivered said Q4 FY22 Promised: sustain improvement Q3 FY24: Management confirmed sequential improvement in PBT over the last four quarters due to streamlined operations and better utilization, fulfilling the goal of sustained improvement.
  • Machine Business Revenue went quiet said Q4 FY22 Promised: INR 500 crores Q3 FY24: The 500cr target was not addressed. Management mentioned current machine tool business revenue is ~150 crores, indicating a very long path to the original aspiration.
  • Revenue Growth vs Market revised down said Q1 FY23 Promised: faster than the market Q3 FY24: Guidance was revised down to 1.2 to 1.3 times market growth.

All 9 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 48.0%, net profit up 187.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue270 287 290 323 296 +10%334 +16%403 +39%478 +48%
EBITDA42 41 40 49 53 +26%45 +10%77 +93%129 +163%
Net profit25 22 24 31 31 +24%24 +9%51 +113%89 +187%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +89.1% 1Y

₹3.0k₹4.0k₹5.0kOct 23Apr 26Aug 26

1Y: ₹2,476.1 on 25 Oct 2023 → ₹4,682.4. High ₹5,027.9 (10 Sept 2026), low ₹2,462 (20 Apr 2026).

Financials, as filed

Revenue grew 12.1% a year over 5 years, FY21 to FY26. Operating margin widened to 20.1%.

Year endingFY21FY22FY23FY24FY25FY26
Revenue₹854 Cr₹992 Cr₹1.1k Cr₹1.1k Cr₹1.2k Cr₹1.5k Cr
Operating profit₹130 Cr₹179 Cr₹151 Cr₹172 Cr₹172 Cr₹304 Cr
Operating margin15.2%18.0%14.0%15.6%14.7%20.1%
Interest₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Depreciation₹38 Cr₹36 Cr₹39 Cr₹43 Cr₹47 Cr₹48 Cr
Net profit₹73 Cr₹114 Cr₹89 Cr₹110 Cr₹102 Cr₹195 Cr
Net margin8.5%11.5%8.3%10.0%8.7%12.9%
Cash from operations₹166 Cr₹49 Cr₹116 Cr₹114 Cr₹145 Cr—
Free cash flow₹140 Cr₹-16 Cr₹69 Cr₹86 Cr₹116 Cr—
ROCE17.0%25.0%————
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY20FY21FY22FY23FY24FY25
Equity capital₹22 Cr₹22 Cr₹22 Cr₹22 Cr₹22 Cr₹22 Cr
Reserves₹534 Cr₹564 Cr₹624 Cr₹666 Cr₹758 Cr₹780 Cr
Borrowings₹13 Cr₹0 Cr₹0 Cr₹3 Cr₹2 Cr₹2 Cr
Other liabilities₹130 Cr₹192 Cr₹184 Cr₹160 Cr₹196 Cr₹226 Cr
Total liabilities₹699 Cr₹777 Cr₹830 Cr₹851 Cr₹979 Cr₹1.0k Cr
Fixed assets₹247 Cr₹225 Cr₹215 Cr₹275 Cr₹280 Cr₹274 Cr
Capital work in progress₹32 Cr₹52 Cr₹77 Cr₹34 Cr₹12 Cr₹6 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹420 Cr₹500 Cr₹538 Cr₹542 Cr₹688 Cr₹750 Cr
Total assets₹699 Cr₹777 Cr₹830 Cr₹851 Cr₹979 Cr₹1.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +1.13 pp while FIIs trimmed −0.70 pp. The shareholder count grew 3% to 12,110.

Promoters
75.0%
FIIs
0.2%
DIIs
13.3%
Public
11.4%

Since Jun 2025

  • Public +1.13 pp
  • FIIs −0.70 pp
  • DIIs −0.45 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, FIIs 0.9%, DIIs 13.0%, Public 11.1%.Dec '23: Promoters 75.0%, FIIs 1.0%, DIIs 13.2%, Public 10.8%.Mar '24: Promoters 75.0%, FIIs 1.0%, DIIs 13.4%, Public 10.6%.Jun '24: Promoters 75.0%, FIIs 1.0%, DIIs 13.6%, Public 10.4%.Sep '24: Promoters 75.0%, FIIs 0.9%, DIIs 13.5%, Public 10.6%.Dec '24: Promoters 75.0%, FIIs 0.9%, DIIs 13.7%, Public 10.3%.Mar '25: Promoters 75.0%, FIIs 0.9%, DIIs 13.7%, Public 10.4%.Jun '25: Promoters 75.0%, FIIs 0.9%, DIIs 13.8%, Public 10.3%.Sep '25: Promoters 75.0%, FIIs 0.9%, DIIs 13.9%, Public 10.2%.Dec '25: Promoters 75.0%, FIIs 0.4%, DIIs 14.2%, Public 10.4%.Mar '26: Promoters 75.0%, FIIs 0.3%, DIIs 14.0%, Public 10.6%.Jun '26: Promoters 75.0%, FIIs 0.2%, DIIs 13.3%, Public 11.4%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Kennametal India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Meturit Ag 51.00%unchanged
Kennametal Inc 24.00%unchanged
Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund Mutual fund8.88%unchanged
SBI Mnc Fund - Various Schemes Mutual fund2.77%−0.27 pp
LIC Mf Large & Mid Cap Fund - Various Schemes —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in KENNAMET

Filings to Aug 2026

0 new, 0 added, 2 trimmed, 1 sold out — net −1.86 L shares (−8.0%).

Held by funds
₹940 Cr
2 schemes
Biggest holder
Nippon India Multi Cap Fund
₹808 Cr · 1.4% of that fund
SchemeHoldingLast month
Nippon India Multi Cap Fund Nippon India Mutual Fund₹808 Cr−1.14 L
SBI MNC Fund SBI Mutual Fund₹132 Cr−0.20 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

0 added, 2 trimmed — net −1.86 L shares (−8.0%)

Funds are sitting on
+201%
vs est. average cost
Held by funds
₹940 Cr
2 schemes · ≈ 5.8% of the company
Biggest holder
Nippon India Multi Cap Fund
₹808 Cr · 1.4% of that fund

Shares held by these funds −0%

Aug '23 23.23 L shares Jul '26

What the price assumes

Expensive

To justify its price of ₹4682, this stock must grow earnings at 32% every year for 7 years. Our analysis caps realistic growth at ~27%. At that growth it is worth ₹3704 — downside of 21%.

Growth the price implies
31.6% a year
for 7 years, fading to 4%
It has actually compounded at
27.3% a year
net profit, FY21–FY26 · EPS 26.8%
The gap
0.0 pp
-21% downside if it only repeats history
Price today ₹4,682.4 Value at the reference growth ₹3,704.48

Change the assumptions yourself →

All earnings calls (5)

Read the Q3 FY24 call →

Learn to analyse Kennametal India Limited

Guides on how to read this kind of business and the numbers that matter.