Consolidated net sales (including other operating income) of Kirloskar Oil Engines for the quarter ended Mar 2024 has increased 19.96% to Rs 1660.02 crore. Sales of Financial Services segment has gone up 43.93% to Rs 162.47 crore (accounting for 9.79% of total sales). Sales of B2B segment has gone up 22.12% to Rs 1,221.23 crore (accounting for 73.57% of total sales). Sales of B2C segment has gone up 2.00% to Rs 276.32 crore (accounting for 16.65% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 76.71% to Rs 183.12 crore. PBIT of Financial Services segment rose 33.53% to Rs 22.22 crore (accounting for 12.13% of total PBIT). PBIT of B2B segment rose 94.17% to Rs 146.46 crore (accounting for 79.98% of total PBIT). PBIT of B2C segment rose 24.91% to Rs 14.44 crore (accounting for 7.89% of total PBIT). PBIT margin of Financial Services segment fell from 14.74% to 13.68%. PBIT margin of B2B segment rose from 7.54% to 11.99%. PBIT margin of B2C segment rose from 4.27% to 5.23%. Overall PBIT margin rose from 7.49% to 11.03%. Operating profit margin has jumped from 13.59% to 18.23%, leading to 60.98% rise in operating profit to Rs 302.69 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 44.43% to 45.65%. Purchase of finished goods cost fell from 16.86% to 12.97%. Employee cost increased from 6.89% to 7.53%. Other expenses fell from 18.41% to 15.72%. Other income fell 31.55% to Rs 7.16 crore. PBIDT rose 56.10% to Rs 309.85 crore. Provision for interest rose 50.66% to Rs 96.38 crore. Loan funds rose to Rs 4,141.84 crore as of 31 March 2024 from Rs 3,244.25 crore as of 31 March 2023. Inventories rose to Rs 643.63 crore as of 31 March 2024 from Rs 544.98 crore as of 31 March 2023. Sundry debtors were higher at Rs 607.04 crore as of 31 March 2024 compared to Rs 527.73 crore as of 31 March 2023. Cash and bank balance rose to Rs 504.75 crore as of 31 March 2024 from Rs 290.47 crore as of 31 March 2023. Investments declined from Rs 658.18 crore as of 31 March 2023 to Rs 489.24 crore as of 31 March 2024. PBDT rose 58.69% to Rs 213.47 crore. Provision for depreciation rose 19.03% to Rs 31.09 crore. Fixed assets increased to Rs 870.03 crore as of 31 March 2024 from Rs 571.31 crore as of 31 March 2023. Intangible assets increased from Rs 185.76 crore to Rs 191.43 crore. Profit before tax grew 68.25% to Rs 182.38 crore. Share of profit/loss was 14.63% lower at Rs 0.35 crore. Provision for tax was expense of Rs 51.52 crore, compared to Rs 29.9 crore. Effective tax rate was 25.98% compared to 27.48%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 88.25% to Rs 148.55 crore. Full year results analysis.
Consolidated net sales (including other operating income) of Kirloskar Oil Engines has increased 17.41% to Rs 5898.32 crore. Sales of Financial Services segment has gone up 52.26% to Rs 564.55 crore (accounting for 9.57% of total sales). Sales of B2B segment has gone up 18.04% to Rs 4,228.42 crore (accounting for 71.69% of total sales). Sales of B2C segment has gone up 3.22% to Rs 1,105.35 crore (accounting for 18.74% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 37.66% to Rs 616.50 crore. PBIT of Financial Services segment rose 28.60% to Rs 105.80 crore (accounting for 17.16% of total PBIT). PBIT of B2B segment rose 36.78% to Rs 460.25 crore (accounting for 74.66% of total PBIT). PBIT of B2C segment rose 73.43% to Rs 50.45 crore (accounting for 8.18% of total PBIT). PBIT margin of Financial Services segment fell from 22.19% to 18.74%. PBIT margin of B2B segment rose from 9.39% to 10.88%. PBIT margin of B2C segment rose from 2.72% to 4.56%. Overall PBIT margin rose from 8.91% to 10.45%. Operating profit margin has jumped from 14.66% to 17.42%, leading to 39.52% rise in operating profit to Rs 1,027.59 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 46.20% to 46.19%. Purchase of finished goods cost fell from 16.27% to 13.21%. Employee cost increased from 6.69% to 7.27%. Other expenses fell from 16.34% to 15.96%. Preoperation capitalised expenses rose from 0.22% to 0.35%. Other income rose 11.48% to Rs 28.64 crore. PBIDT rose 38.57% to Rs 1056.23 crore. Provision for interest rose 56.38% to Rs 328.23 crore. Loan funds rose to Rs 4,141.84 crore as of 31 March 2024 from Rs 3,244.25 crore as of 31 March 2023. Inventories rose to Rs 643.63 crore as of 31 March 2024 from Rs 544.98 crore as of 31 March 2023. Sundry debtors were higher at Rs 607.04 crore as of 31 March 2024 compared to Rs 527.73 crore as of 31 March 2023. Cash and bank balance rose to Rs 504.75 crore as of 31 March 2024 from Rs 290.47 crore as of 31 March 2023. Investments declined from Rs 658.18 crore as of 31 March 2023 to Rs 489.24 crore as of 31 March 2024. PBDT rose 31.81% to Rs 728 crore. Provision for depreciation rose 13.51% to Rs 118.8 crore. Fixed assets increased to Rs 870.03 crore as of 31 March 2024 from Rs 571.31 crore as of 31 March 2023. Intangible assets increased from Rs 185.76 crore to Rs 191.43 crore. Profit before tax grew 36.09% to Rs 609.20 crore. Share of profit/loss was 4.72% higher at Rs 1.33 crore. Provision for tax was expense of Rs 155.54 crore, compared to Rs 117.28 crore. Effective tax rate was 26.13% compared to 26.12%. Minority interest decreased 189.33% to Rs -2.17 crore. Net profit attributable to owners of the company increased 32.93% to Rs 441.87 crore. Equity capital increased from Rs 28.95 crore as of 31 March 2023 to Rs 28.99 crore as of 31 March 2024. Per share face Value remained same at Rs 2.00. Promoters’ stake was 41.21% as of 31 March 2024 ,compared to 41.25% as of 31 March 2023 . Cash flow from operating activities increased to negative Rs -468.78 crore for year ended March 2024 from negative Rs -920.30 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 395.07 crore, compared to Rs 161.47 crore during the year ended March 2023.
Management Comments :
Commenting on the Q4 and full year results, Gauri Kirloskar, Managing Director, Kirloskar Oil Engines,
said "This quarter and the entire year have been exceptionally noteworthy for Kirloskar Oil Engines. We
achieved our highest-ever quarterly and yearly revenue figures, surpassing Rs. 500 crore in international
sales for the first time. I firmly attribute this success to the relentless efforts of our teams, fueled by robust
market demand. This marks the beginning of our ambitious journey towards becoming a technologydriven leader in the power and energy systems.
From a business perspective, our CPCB IV+ products have experienced good traction, alongside the
encouraging response for the newly introduced Optiprime range. Our B2B segment growth was backed
by strong demand in key sectors such as construction, infrastructure, and railways. Meanwhile, our efforts
focused to enhance profitability in the B2C segment have yielded substantial improvements in segment
PBIT compared to the previous year.
Undoubtedly, it has been a challenging year operationally, navigating the transitions associated with
emission norm changes. However, thanks to the dedication of our team and the support of our partners,
we have successfully managed this transition. As we embark on the final year of our 2X 3Y journey, I am
confident in the readiness and determination of the entire Kirloskar Oil Engines team to stay the course."
| Kirloskar Oil Engines : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,660.02 | 1,383.83 | 19.96 | 5,898.32 | 5,023.80 | 17.41 | | OPM (%) | 18.23 | 13.59 | 465 bps | 17.42 | 14.66 | 276 bps | | OP | 302.69 | 188.03 | 60.98 | 1,027.59 | 736.52 | 39.52 | | Other Inc. | 7.16 | 10.46 | -31.55 | 28.64 | 25.69 | 11.48 | | PBIDT | 309.85 | 198.49 | 56.10 | 1,056.23 | 762.21 | 38.57 | | Interest | 96.38 | 63.97 | 50.66 | 328.23 | 209.89 | 56.38 | | PBDT | 213.47 | 134.52 | 58.69 | 728.00 | 552.32 | 31.81 | | Depreciation | 31.09 | 26.12 | 19.03 | 118.8 | 104.66 | 13.51 | | PBT | 182.38 | 108.40 | 68.25 | 609.2 | 447.66 | 36.09 | | Share of Profit/(Loss) from Associates | 0.35 | 0.41 | -14.63 | 1.33 | 1.27 | 4.72 | | PBT before EO | 182.73 | 108.81 | 67.93 | 610.53 | 448.93 | 36.00 | | EO Income | 15.6 | 0 | - | -15.29 | 0 | - | | PBT after EO | 198.33 | 108.81 | 82.27 | 595.24 | 448.93 | 32.59 | | Taxation | 51.52 | 29.9 | 72.31 | 155.54 | 117.28 | 32.62 | | PAT | 146.81 | 78.91 | 86.05 | 439.7 | 331.65 | 32.58 | | Minority Interest (MI) | -1.74 | 0 | - | -2.17 | -0.75 | -189.33 | | Net profit | 148.55 | 78.91 | 88.25 | 441.87 | 332.4 | 32.93 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 148.55 | 78.91 | 88.25 | 441.87 | 332.4 | 32.93 | | EPS (Rs)* | 9.44 | 5.44 | 73.45 | 31.26 | 22.92 | 36.34 | | | * EPS is on current equity of Rs 29.00 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Kirloskar Oil Engines : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Engines | 0.00 | 0.00 | 0.00 | - | | Electric Pumps | 0.00 | 0.00 | 0.00 | - | | Others | 0.00 | 0.00 | 0.00 | - | | Financial Services | 9.79 | 162.47 | 112.88 | 43.93 | 9.57 | 564.55 | 370.79 | 52.26 | | B2B | 73.57 | 1,221.23 | 1,000.06 | 22.12 | 71.69 | 4,228.42 | 3,582.14 | 18.04 | | B2C | 16.65 | 276.32 | 270.89 | 2.00 | 18.74 | 1,105.35 | 1,070.87 | 3.22 | | Total Reported Sales | 100.00 | 1,660.02 | 1,383.83 | 19.96 | 100.00 | 5,898.32 | 5,023.80 | 17.41 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 1,660.02 | 1,383.83 | 19.96 | 100.00 | 5,898.32 | 5,023.80 | 17.41 | | PBIT | | Engines | 0.00 | 0.00 | 0.00 | - | | Electric Pumps | 0.00 | 0.00 | 0.00 | - | | Others | 0.00 | 0.00 | 0.00 | - | | Financial Services | 12.13 | 22.22 | 16.64 | 33.53 | 17.16 | 105.80 | 82.27 | 28.60 | | B2B | 79.98 | 146.46 | 75.43 | 94.17 | 74.66 | 460.25 | 336.49 | 36.78 | | B2C | 7.89 | 14.44 | 11.56 | 24.91 | 8.18 | 50.45 | 29.09 | 73.43 | | Total PBIT | 100.00 | 183.12 | 103.63 | 76.71 | 100.00 | 616.50 | 447.85 | 37.66 | | Less : Interest | | 4.05 | 2.23 | 81.61 | | 13.33 | 13.73 | -2.91 | | Add: Other un-allcoable | | 19.26 | 7.41 | 159.92 | | -7.93 | 14.81 | PL | | PBIT Margin(%) | | Engines | | 0.00 | 0.00 | 0.00 | | Electric Pumps | | 0.00 | 0.00 | 0.00 | | Others | | 0.00 | 0.00 | 0.00 | | Financial Services | | 13.68 | 14.74 | -106.49 | | 18.74 | 22.19 | -344.72 | | B2B | | 11.99 | 7.54 | 445.03 | | 10.88 | 9.39 | 149.11 | | B2C | | 5.23 | 4.27 | 95.84 | | 4.56 | 2.72 | 184.77 | | PBT | 100.00 | 198.33 | 108.81 | 82.27 | 100.00 | 595.24 | 448.93 | 32.59 |
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