Bengaluru maker of tungsten-carbide cutting tools & CNC machine tools; Indian arm of Kennametal Inc.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 478 | +48.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 27.0 | +12.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 89.0 | +187.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | +5.6 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | −18.0 pts | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | −5.1 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Guidance
3 of 7 judged targets kept · 2 open · verdicts reflect calls analysed to Q3 FY24.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Gross Margin | sustain improvement | Q4 FY22 | Management confirmed sequential improvement in PBT over the last four quarters due to streamlined operations and better utilization, fulfilling the goal of sustained improvement. | Achieved |
| Machine Business Revenue | INR 500 crores | Q4 FY22 | 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. | Ghosted |
| Revenue Growth vs Market | faster than the market | Q1 FY23 | Guidance was revised down to 1.2 to 1.3 times market growth. | Revised Down |
4 of Kennametal India Limited's 9 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 6 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹2,476.1 on 25 Oct 2023 → ₹3,646.1. High ₹5,027.9 (10 Sept 2026), low ₹2,462 (20 Apr 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
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
Guidance
3 of 7 judged targets kept · 2 open · verdicts reflect calls analysed to Q3 FY24.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Gross Margin | sustain improvement | Q4 FY22 | Management confirmed sequential improvement in PBT over the last four quarters due to streamlined operations and better utilization, fulfilling the goal of sustained improvement. | Achieved |
| Machine Business Revenue | INR 500 crores | Q4 FY22 | 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. | Ghosted |
| Revenue Growth vs Market | faster than the market | Q1 FY23 | Guidance was revised down to 1.2 to 1.3 times market growth. | Revised Down |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 9 tracked commitments, with each call’s wording and source.
Call summaries
Kennametal India Q3 FY24
Kennametal India reported sequential PBT improvement driven by operational efficiencies and increased utilization. While the domestic market, particularly CNC machines, showed robust growth, export performance was soft due to global headwinds. The company is actively expanding its domestic market presence with new product launches like VTL and increased customer outreach, and has reduced its royalty payment to the parent.
Read the full callKennametal India Q4 FY23
Kennametal India's Q4 FY23 earnings call focused on strategic growth drivers, market trends, and operational outlook rather than specific quarterly financials. Management highlighted India's strong manufacturing growth, the company's aspiration to outpace the market, and efforts to improve margins. Discussions covered the impact of emerging sectors, raw material stability, and the company's competitive advantages in distribution and technology.
Read the full callKennametal India Q3 FY23
Kennametal India's Q3 FY23 investor meeting focused on operational impacts from the China slowdown, which significantly affected CNC machine exports. The company also discussed one-time expenses related to a new master insert plant and an increase in employee costs. Strategic discussions centered on capacity expansion, raw material dynamics, market share strategy, and growth opportunities in emerging sectors like defence, aerospace, EV, and energy, with a strong emphasis on delivering productivity to customers.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 4 fiscal years held (Jun 2019 to Jun 2022).
Financials
Net profit, year on year: +187% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 270 | 287 | 290 | 323 | 296 | 334 | 403 | 478 |
| Expenses | 228 | 246 | 250 | 274 | 243 | 289 | 326 | 349 |
| Operating profit | 42 | 41 | 40 | 49 | 53 | 45 | 77 | 129 |
| Operating margin | 16.0% | 14.0% | 14.0% | 15.0% | 18.0% | 13.0% | 19.0% | 27.0% |
| Other income | 3 | 3 | 4 | 4 | 2 | 2 | 4 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 12 | 11 | 12 | 12 | 12 | 12 | 12 | 12 |
| Profit before tax | 34 | 32 | 33 | 41 | 43 | 35 | 69 | 118 |
| Tax rate | 26.0% | 31.0% | 26.0% | 24.0% | 28.0% | 31.0% | 26.0% | 25.0% |
| Net profit | 25 | 22 | 24 | 31 | 31 | 24 | 51 | 89 |
| EPS (₹ per share) | 11.37 | 10.10 | 11.10 | 14.24 | 14.29 | 11.10 | 23.39 | 40.40 |
| Line item | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|
| Sales | 854 | 992 | 1,077 | 1,100 | 1,170 | 1,511 |
| Expenses | 724 | 812 | 925 | 929 | 998 | 1,207 |
| Operating profit | 130 | 179 | 151 | 172 | 172 | 304 |
| Other income | 5 | 10 | 4 | 25 | 14 | 10 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 38 | 36 | 39 | 43 | 47 | 48 |
| Profit before tax | 99 | 153 | 118 | 151 | 140 | 265 |
| Net profit | 73 | 114 | 89 | 110 | 102 | 195 |
| Line item | Jun 2023 | Jun 2024 | Dec 2024 | Jun 2025 | Dec 2025 | Jun 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 22 | 22 | 22 | 22 | 22 | 22 |
| Reserves | 666 | 712 | 758 | 725 | 780 | 832 |
| Borrowings | 3 | 3 | 2 | 2 | 2 | 2 |
| Other liabilities | 160 | 191 | 196 | 217 | 226 | 409 |
| Total liabilities | 851 | 927 | 979 | 967 | 1,030 | 1,265 |
| Fixed assets | 275 | 294 | 280 | 273 | 274 | 282 |
| Capital work in progress | 34 | 8 | 12 | 8 | 6 | 7 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 542 | 626 | 688 | 685 | 750 | 976 |
| Total assets | 851 | 927 | 979 | 967 | 1,030 | 1,265 |
| Line item | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 |
|---|---|---|---|---|---|---|
| Cash from operations | 28 | 155 | 49 | 116 | 114 | 145 |
| Cash from investing | -32 | -24 | -48 | -45 | -23 | -4 |
| Cash from financing | 2 | -57 | -53 | -45 | -67 | -89 |
| Net cash flow | -2 | 73 | -51 | 26 | 24 | 52 |
| Free cash flow | -33 | 129 | -16 | 69 | 86 | 116 |
| Line item | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 51 | 50 | 48 | 59 | 59 | 65 |
| Inventory days | 173 | 195 | 149 | 168 | 172 | 280 |
| Days payable | 86 | 75 | 46 | 68 | 65 | 127 |
| Cash conversion cycle | 138 | 170 | 151 | 160 | 166 | 219 |
| Working capital days | 62 | 88 | 82 | 101 | 88 | 122 |
| Return on capital employed | 16.0% | 25.0% | 17.0% | 19.0% | 18.0% | 33.0% |
| Dividend payout | 66.0% | 46.0% | 50.0% | 60.0% | 86.0% | 0.0% |
The businesses behind the company’s reported revenue.
Hard Metal and Hard Metal Products contributes 90.3% of reported segment revenue.
Year ended 30 Jun 2026 · Standalone
₹1,363.60 crore
₹147.10 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Hard Metal and Hard Metal Products | 1,363.60 | 90.3% |
| Machining Solutions | 147.10 | 9.7% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
To justify its price of ₹3646, this stock must grow earnings at 27% every year for 7 years. Our analysis caps realistic growth at ~27%. At that growth it is worth ₹3704 — upside of 2%.
Ownership
Promoters hold 75.00% as of Sept 2026; institutions cut 1.37 pts since Jun 2026.
Named in the Sep 2026 filing
Every holder of Kennametal India Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 51.00% | unchanged | |
| 24.00% | unchanged | |
| Mutual fund | 8.27% | −0.61 pp |
| Mutual fund | 1.36% | −1.41 pp |
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.
Filings to Sep 2026
0 new, 0 added, 1 trimmed, 0 sold out — net −0.20 L shares (−0.9%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹751 Cr | −0.20 L | Mar '13 |
| SBI MNC Fund SBI Mutual Fund | ₹124 Cr | held | Aug '21 |
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 Sep 2026
0 added, 1 trimmed — net −20,007 shares (−0.9%)
Shares held by these funds −6%
Oct '23 21.18 L shares Sep '26
Your own record
Free account: one company. Everything above stays public.
Write why you follow Kennametal India Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
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