Engineers and manufactures custom industrial drying, waste-heat-recovery and RF-heating equipment for process industries.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 117 | −9.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 18.0 | −8.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 13.0 | −38.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 15.63 | −0.4 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -4.94 | +5.5 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 31.84 | +19.5 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
3 of 5 judged targets kept · 5 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Export Revenue Contribution | 20% to 30% in next two to three years | Q4 FY25 | No specific update on export revenue share this quarter. | Ghosted |
| Long-term Revenue Target FY28 | 1000 crore company by 2028 | Q1 FY26 | Management shifts language from 'aim' to 'aspiration', stating they are building capacity to 'cater to' INR 1,000 crores revenue, but refrains from giving firm guidance for FY28, citing external factors affecting pace. | At Risk |
2 of Kilburn Engineering Limited's 10 targets were missed. See which ones, and which are quietly gone. The 2 above are the free sample; 8 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹558.35 on 24 Oct 2025 → ₹438.55. High ₹593.05 (26 Nov 2025), low ₹346.9 (17 Aug 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Kilburn Engineering designs, engineers and manufactures customised process equipment — industrial dryers, calciners, pressure vessels, heat exchangers, columns, reactors, silos and fabricated equipment — for solid, liquid and gas drying applications, earning revenue from project-based orders executed against a customer order book for sectors such as chemicals, petrochemicals, fertiliser, carbon black, tea, soda ash, pharmaceuticals, oil & gas and nuclear power. It sells both domestically and to export markets including the USA, Germany, France, the Netherlands, China, Indonesia, Hungary, Thailand, Kenya, South Africa, Brazil and Bangladesh. Through its wholly owned subsidiaries M.E. Energy (custom waste-heat-recovery and thermal/energy-saving systems, acquired Feb 2024) and Monga Strayfield (radio-frequency heating/drying equipment and sheet-metal fabrication, acquired Jan 2025, with a UK manufacturing facility), the group has extended into adjacent thermal-engineering and RF-processing equipment for food processing, textiles and auto components. Manufacturing is carried out at its own integrated facilities in Maharashtra, India.
Segments
close before → close after
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.
Guidance
3 of 5 judged targets kept · 5 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Export Revenue Contribution | 20% to 30% in next two to three years | Q4 FY25 | No specific update on export revenue share this quarter. | Ghosted |
| Long-term Revenue Target FY28 | 1000 crore company by 2028 | Q1 FY26 | Management shifts language from 'aim' to 'aspiration', stating they are building capacity to 'cater to' INR 1,000 crores revenue, but refrains from giving firm guidance for FY28, citing external factors affecting pace. | At Risk |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 10 tracked commitments, with each call’s wording and source.
Call summaries
Kilburn Engg. Q1 FY27
Kilburn Engineering reported Q1 FY27 consolidated revenue of INR 117 crores and an EBITDA margin of 20.1%. While revenue was below target due to project deferrals and geopolitical impacts, the company secured INR 190 crores in YTD order inflows and maintained strong margins. Management remains confident in achieving its FY27 revenue and order inflow targets, supported by a net debt-free balance sheet and ongoing capacity expansions.
Read the full callKilburn Engg. Q4 FY26
Kilburn Engineering reported strong Q4 and full-year FY26 results, with consolidated revenue reaching INR629 crores and EBITDA margins over 25%. The company aims for 20-25% revenue growth and INR800-1,000 crores in order intake for FY27, supported by a robust INR4,000 crore inquiry pipeline and ongoing capacity expansions. However, geopolitical challenges have led to order intake delays and increased trade receivables, impacting standalone cash flow, though management expects normalization.
Read the full callKilburn Engg. Q3 FY26
Kilburn Engineering delivered a consistent performance in Q3 FY26, achieving strong consolidated revenue and maintaining healthy EBITDA margins. The company reported a robust order backlog and a significant inquiry pipeline, supporting its ambitious growth targets of reaching ₹800 crores by FY27 and ₹1,000 crores by FY28. Strategic capacity expansions and the formation of a new joint venture for specialized site services are key initiatives to drive future growth and diversification.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 3 fiscal years held (Mar 2024 to Mar 2026).
Financials
Net profit, year on year: −38% (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 | 104 | 108 | 127 | 129 | 154 | 157 | 189 | 117 |
| Expenses | 81 | 85 | 91 | 96 | 114 | 121 | 151 | 96 |
| Operating profit | 23 | 23 | 36 | 33 | 40 | 36 | 38 | 21 |
| Operating margin | 22.0% | 22.0% | 28.0% | 26.0% | 26.0% | 23.0% | 20.0% | 18.0% |
| Other income | 0 | 1 | 1 | 3 | 4 | 2 | 7 | 4 |
| Interest | 3 | 3 | 5 | 3 | 3 | 3 | 5 | 4 |
| Depreciation | 1 | 2 | 3 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 19 | 20 | 29 | 30 | 37 | 32 | 37 | 18 |
| Tax rate | 20.0% | 22.0% | 31.0% | 28.0% | 28.0% | 28.0% | 33.0% | 25.0% |
| Net profit | 15 | 15 | 20 | 21 | 27 | 23 | 25 | 13 |
| EPS (₹ per share) | 3.36 | 3.19 | 4.30 | 4.40 | 5.23 | 4.46 | 4.69 | 2.34 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 330 | 424 | 629 |
| Expenses | 253 | 324 | 482 |
| Operating profit | 77 | 100 | 147 |
| Other income | 3 | 3 | 16 |
| Interest | 10 | 14 | 14 |
| Depreciation | 4 | 7 | 12 |
| Profit before tax | 67 | 83 | 136 |
| Net profit | 50 | 62 | 96 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 34 | 36 | 42 | 47 | 51 | 53 |
| Reserves | 39 | 70 | 213 | 425 | 510 | 601 |
| Borrowings | 76 | 64 | 85 | 88 | 104 | 90 |
| Other liabilities | 83 | 93 | 146 | 171 | 173 | 150 |
| Total liabilities | 233 | 262 | 486 | 731 | 839 | 894 |
| Fixed assets | 42 | 43 | 159 | 284 | 291 | 292 |
| Capital work in progress | 0 | 1 | 5 | 5 | 3 | 5 |
| Investments | 10 | 8 | 9 | 8 | 10 | 7 |
| Other assets | 182 | 210 | 312 | 434 | 535 | 590 |
| Total assets | 233 | 262 | 486 | 731 | 839 | 894 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Cash from operations | 26 | -9 | -18 |
| Cash from investing | -100 | -103 | -24 |
| Cash from financing | 74 | 116 | 68 |
| Net cash flow | 0 | 4 | 26 |
| Free cash flow | 10 | -44 | -31 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 173 | 150 | 73 | 87 | 91 | 117 |
| Inventory days | 72 | 60 | 85 | 68 | 97 | 62 |
| Days payable | 192 | 147 | 76 | 97 | 128 | 73 |
| Cash conversion cycle | 53 | 63 | 82 | 58 | 59 | 107 |
| Working capital days | 89 | 126 | 98 | 100 | 169 | 184 |
| Return on capital employed | 7.0% | 9.0% | 23.0% | — | 22.0% | 23.0% |
| Dividend payout | 0.0% | 0.0% | 12.0% | 17.0% | 15.0% | 17.0% |
To justify its price of ₹439, this stock must grow earnings at 21% every year for 7 years. Our analysis caps realistic growth at ~31%. At that growth it is worth ₹742 — upside of 69%.
Ownership
Public hold 45.04% as of Sept 2026; institutions added 1.31 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Kilburn Engineering Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 29.45% | +0.18 pp | |
| 12.52% | unchanged | |
| 7.71% | unchanged | |
| Mutual fund | 4.73% | +0.64 pp |
| 2.68% | unchanged | |
| 2.63% | unchanged | |
| Mutual fund | 1.70% | unchanged |
| 1.52% | unchanged | |
| 1.51% | unchanged | |
| 1.15% | +0.14 pp | |
| 1.07% | unchanged | |
| 1.02% | unchanged |
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.
Your own record
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