KIRLOSENG

Kirloskar Oil Engines share price & financials

Price
₹1,991.5
Market cap
₹30.0k Cr
Sector
Capital Goods
Calls analysed
8
Latest concall · Q1 FY27 · call held 07 Aug 2026

Kirloskar Oil Engines Limited Q1 FY27

Standalone Net Sales ₹1,461 cr +16%Standalone EBITDA ₹165 cr −4%Standalone EBITDA Margin 11.2% Standalone Net Profit ₹99 cr −9%

What went well

  • Standalone revenue grew 16% year-on-year to INR 1,461 crores, driven by robust domestic demand.
  • Consolidated revenue increased 13% year-on-year to INR 2,000 crores, reflecting healthy overall growth.
  • Domestic power generation, industrial, and distribution & aftermarket businesses delivered strong growth of 18%, 19%, and 20% respectively.

What to watch

  • Standalone EBITDA decreased 4% YoY to INR 165 crores, with margin contracting to 11.2% from 13.5% in Q1 FY26.
  • Consolidated Net Profit declined 17% YoY to INR 111 crores, primarily due to margin pressures.
Read the full call →

What Kirloskar Oil Engines Limited does

Kirloskar Oil Engines Limited (KOEL), part of the Kirloskar Group, designs and manufactures internal combustion engines, gensets (3 kVA to 12000 kVA) and industrial engines (2.5 HP to 1650 HP) for power generation, construction, railways, marine, defence and agriculture customers, sold directly to institutional/project clients and through a distribution and aftermarket network offering spares, AMCs and retrofit products. Its B2C arm, KOEL Fluid Dynamics (KFD), sells water-management pumps and, through group companies, farm-mechanisation equipment such as power tillers. The group also runs Arka Group, an NBFC financial-services business, and exports engines, gensets and after-sales support through subsidiaries in the UAE, USA and South Africa. All R&D, from concept to production, is conducted in-house at a dedicated research centre.

Segments

  • Power Gen (B2B)
  • Industrial (B2B)
  • Distribution & Aftermarket (B2B)
  • International Business (B2B)
  • B2C (via KFD subsidiary)
  • Financial Services (Arka Group)
Manufacturing facilities
5 (Pune, Kagal, Nashik, Rajkot, Bhare)
Permanent employees
2,476
Operating history
78 years (founded 1946)
Genset power range
3 kVA to 12000 kVA
Engine power range
2.5 HP to 1650 HP (industrial engines 10 HP to 1100 HP)
International subsidiaries/offices
UAE (Dubai), South Africa (Johannesburg), USA (Texas, Kansas)
Founded 1946Headquarters Pune, Maharashtra, IndiaEmployees 2,476 (31 March 2025) Company website

Guidance record · Q1 FY27

what the last two calls moved 22 tracked 4 delivered 5 missed 13 open
  • LMHP Market Share delivered said Q3 FY25 Promised: recover earlier market shares Q1 FY27: Management reported 'meaningful domestic market share gains, particularly in the sub-30 kVA genset segment', confirming the promise remains achieved.
  • B2C EBITDA Margin missed said Q2 FY25 Promised: Double-digit EBITDA by Q4 FY25 Q1 FY27: The original target remains missed. B2C segment PBIT margin was ~8.6% (₹26 cr on ₹301 cr revenue), below the double-digit mark.
  • NPCL Order Revenue delayed said Q2 FY26 Promised: Start getting recognized from the next financial year (FY27) Q1 FY27: Management confirmed 'there was no contribution in this quarter' from the NPCIL order, consistent with the previously announced delay.

All 22 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 13.5%, net profit down 20.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,505 1,454 1,749 1,762 1,948 +29%1,873 +29%2,116 +21%2,000 +14%
EBITDA298 255 312 327 382 +28%331 +30%376 +21%300 −8%
Net profit125 68 127 139 159 +27%109 +60%155 +22%111 −20%
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 +144.2% 1Y

₹1.0k₹1.5k₹2.0k₹2.5kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 12 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 14 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹888.1 on 10 Sept 2025 → ₹2,168.6. High ₹2,563.6 (24 Jun 2026), low ₹869.55 (14 Oct 2025).

How the price took the results

close before → close after

Q1 FY27
−3.9%
7 Aug
Q4 FY26
−0.2%
14 May
Q3 FY26
+0.9%
12 Feb
Q2 FY26
+12.0%
12 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 15.3% a year over 3 years, FY23 to FY26. Operating margin widened to 18.4%.

Year endingFY23FY24FY25FY26
Revenue₹5.0k Cr₹5.9k Cr₹6.3k Cr₹7.7k Cr
Operating profit₹734 Cr₹1.0k Cr₹1.2k Cr₹1.4k Cr
Operating margin14.6%17.4%18.8%18.4%
Interest₹210 Cr₹329 Cr₹483 Cr₹523 Cr
Depreciation₹105 Cr₹119 Cr₹139 Cr₹174 Cr
Net profit₹332 Cr₹440 Cr₹476 Cr₹562 Cr
Net margin6.6%7.5%7.5%7.3%
Cash from operations₹-920 Cr₹-469 Cr₹-739 Cr₹932 Cr
Free cash flow₹-1.1k Cr₹-846 Cr₹-996 Cr₹595 Cr
ROCE13.0%15.0%14.0%15.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹29 Cr₹29 Cr₹29 Cr₹29 Cr₹29 Cr₹29 Cr
Reserves₹1.9k Cr₹2.1k Cr₹2.3k Cr₹2.6k Cr₹3.3k Cr₹3.6k Cr
Borrowings₹849 Cr₹2.0k Cr₹3.2k Cr₹4.1k Cr₹5.5k Cr₹5.4k Cr
Other liabilities₹1.0k Cr₹975 Cr₹1.2k Cr₹1.4k Cr₹1.8k Cr₹1.9k Cr
Total liabilities₹3.8k Cr₹5.0k Cr₹6.7k Cr₹8.3k Cr₹10.7k Cr₹10.8k Cr
Fixed assets₹698 Cr₹721 Cr₹689 Cr₹769 Cr₹1.2k Cr₹1.3k Cr
Capital work in progress₹55 Cr₹43 Cr₹69 Cr₹293 Cr₹110 Cr₹149 Cr
Investments₹834 Cr₹738 Cr₹658 Cr₹489 Cr₹467 Cr₹440 Cr
Other assets₹2.2k Cr₹3.5k Cr₹5.3k Cr₹6.7k Cr₹8.8k Cr₹8.9k Cr
Total assets₹3.8k Cr₹5.0k Cr₹6.7k Cr₹8.3k Cr₹10.7k Cr₹10.8k 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, FIIs added +2.86 pp while the public trimmed −1.59 pp. The shareholder count grew 19% to 1,30,627.

Promoters
41.1%
FIIs
11.3%
DIIs
26.0%
Public
21.6%

Since Jun 2025

  • FIIs +2.86 pp
  • Public −1.59 pp
  • DIIs −1.21 pp

How it drifted, 12 quarters

Over this window the public fell from 26.7% to 21.6% — −5.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 41.2%, FIIs 7.8%, DIIs 24.3%, Public 26.7%.Dec '23: Promoters 41.2%, FIIs 9.1%, DIIs 24.4%, Public 25.4%.Mar '24: Promoters 41.2%, FIIs 9.8%, DIIs 25.2%, Public 23.9%.Jun '24: Promoters 41.2%, FIIs 10.0%, DIIs 25.4%, Public 23.4%.Sep '24: Promoters 41.2%, FIIs 10.8%, DIIs 24.9%, Public 23.1%.Dec '24: Promoters 41.2%, FIIs 11.0%, DIIs 25.0%, Public 22.8%.Mar '25: Promoters 41.1%, FIIs 9.1%, DIIs 26.6%, Public 23.1%.Jun '25: Promoters 41.1%, FIIs 8.5%, DIIs 27.2%, Public 23.2%.Sep '25: Promoters 41.1%, FIIs 8.3%, DIIs 28.0%, Public 22.6%.Dec '25: Promoters 41.1%, FIIs 8.4%, DIIs 28.2%, Public 22.3%.Mar '26: Promoters 41.1%, FIIs 10.8%, DIIs 26.7%, Public 21.4%.Jun '26: Promoters 41.1%, FIIs 11.3%, DIIs 26.0%, Public 21.6%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 4 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

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

HolderStakeChange
Rahul Chandrakant Kirloskar as individual, as a Karta of Rahul C. Kirloskar HUF and as a Trustee of C. S. Kirloskar Testamentary Trust 12.23%unchanged
Atul Chandrakant Kirloskar as individual, as a Trustee of C.S. Kirloskar Testamentary Trust and as a Karta of Atul C. Kirloskar HUF 10.09%unchanged
Kirloskar Industries Limited 5.65%unchanged
Alpana Rahul Kirloskar 5.36%unchanged
Franklin India Flexi Cap Fund Mutual fund5.26%−0.63 pp
DSP Small Cap Fund Mutual fund5.20%−0.72 pp
Gauri Kirloskar 3.96%unchanged
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund3.81%−0.64 pp
Arti Atul Kirloskar 2.22%unchanged
Sundaram Mutual Fund A/C Sundaram Large And Mid Cap Fund Mutual fund1.93%+0.67 pp
Investor Education And Protection Fund Authority Ministry Of Corporate Affairs 1.80%unchanged
Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund1.70%+0.51 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.

Mutual funds in KIRLOSENG

Filings to Aug 2026

0 new, 5 added, 1 trimmed, 0 sold out — net +0.04 L shares (+0.1%).

Held by funds
₹1.2k Cr
13 schemes
Biggest holder
Nippon India Small Cap Fund
₹714 Cr · 0.9% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹714 Crheld
Nippon India Flexi Cap Fund Nippon India Mutual Fund₹167 Crheld
Nippon India Multi Asset Allocation Fund Nippon India Mutual Fund₹62 Crheld
Nippon India Innovation Fund Nippon India Mutual Fund₹56 Crheld
Nippon India Power & Infra Fund Nippon India Mutual Fund₹42 Crheld
Nippon India Balanced Advantage Fund Nippon India Mutual Fund₹34 Crheld
Nippon India Aggressive Hybrid Fund Nippon India Mutual Fund₹34 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹28 Cr+0.02 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

5 added, 1 trimmed — net +3,541 shares (+0.1%)

Funds are sitting on
+245%
vs est. average cost
Held by funds
₹1.2k Cr
13 schemes · ≈ 3.7% of the company
Biggest holder
Nippon India Small Cap Fund
₹714 Cr · 0.9% of that fund
Longest holder
Nippon India Flexi Cap Fund
4y 1m · since Aug '22

Shares held by these funds +28%

Aug '23 55.65 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹2169, this stock must grow earnings at 34% every year for 7 years. Our analysis caps realistic growth at ~18%. At that growth it is worth ₹983 — downside of 55%.

Growth the price implies
33.6% a year
for 7 years, fading to 4%
It has actually compounded at
17.2% a year
net profit, FY23–FY26 · EPS 17.8%
The gap
0.2 pp
-55% downside if it only repeats history
Price today ₹2,168.6 Value at the reference growth ₹983.08

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse Kirloskar Oil Engines Limited

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