Kirloskar Ferrous Industries Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 18 Jul 2026 | Ferrous Metals | Market Cap: ₹7.1K Cr
Steel sales target: Increase to at least 120,000 tons next year (FY '27). The company aims for a CAGR growth of 14% to 16% in value numbers over the coming years.
From Kirloskar Ferrous Industries Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹441
Market Cap
₹7.1K Cr
P/E Ratio
18.3
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Compare Kirloskar Ferrous Industries Ltd against every Ferrous Metals company this quarter on revenue, margins and earnings-call signals.
Kirloskar Ferrous Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.8K Cr, net profit ₹130 Cr.
Full financials →📊 Revenue & Sales Performance
- →Steel sales target: Increase to at least 120,000 tons next year (FY '27).
- →Tube sales: Expected growth from ~190,000-195,000 tons this year to 220,000-230,000 tons next year; planning to reach 230,000 tons with future expander mill.
- →Casting sales: Target to grow from about 160,000-163,000 tons to close to 190,000 tons next year, with Solapur ramp-up to 50,000-62,000 tons over next two years.
- →Pig iron: External sales around 580,000-600,000 tons, with plans to upgrade Hiriyur blast furnace to boost hot metal production to 900,000 tons eventually.
- →Expected volume growth across segments: 15% to 20%, supporting a CAGR of 14%-16%.
- →Castings: Increase by 10,000 tons per year in Solapur; Punjab Foundry (Oliver) expected to contribute ~15,000 tons per annum.
- →Overall focus on growth despite market price drops in pig iron (9%) and tubes (10%).
📈 Profitability & Margins
- →The company aims for a CAGR growth of 14% to 16% in value numbers over the coming years.
- →Target volumes for next year include:
- → - Steel sales to increase to at least 120,000 tons.
- → - Tube sales growth from around 190,000-195,000 tons to 220,000 tons.
- → - Casting sales to grow from about 163,000-190,000 tons to approximately 190,000 tons.
- → - Pig iron external sales projected close to 580,000-600,000 tons.
- →The growth expectation in volume terms is reasonably good, around 15% to 20%, not very high but steady.
- →Challenges include product price drops of ~9% in pig iron and 10% in tubes due to market forces.
- →Expansion and ramp-up plans (e.g., casting capacity at Solapur, merging Punjab foundry and Oliver foundry) are expected to support volume and profit growth.
- →Green power projects (solar and wind) commissioning will improve cost efficiency starting FY 27.
- →Overall, management is confident of progressing earnings despite market headwinds.
🏗️ Capital Expenditure Plans
- →Kirloskar Ferrous Industries is commissioning incremental green power capacity of 130 MW (70 MW solar + 25 MW wind) targeted for commissioning between April to September FY '27, aiming for a total of ~200 MW solar equivalent capacity.
- →Plans to upgrade the Hiriyur pig iron blast furnace to increase hot metal capacity from ~7 lakh tons to 9 lakh tons over the next 1-2 years, subject to prioritization against other projects.
- →Planning to commission a new steel plant at Koppal with equipment orders expected to be finalized by 31 March 2026, with commissioning targeted in about 2 years.
- →Considering expansion in tube production capacity with an expander mill under planning to increase capacity beyond 230,000 tons.
- →Ongoing efforts to merge Oliver Foundry and Punjab Foundry into Kirloskar Ferrous Industries to enhance casting capacity and volumes.
- →Continued investment across steel, casting, and green power segments as part of long-term growth strategy.
💰 Fundraising & Capital Structure
- →There is no direct mention of any current or planned fundraising through debt or equity in the provided transcript.
- →The management discusses multiple ongoing and planned capacity expansion and green power projects (solar and wind), but no references to raising funds through equity or debt are mentioned.
- →Project execution and equipment ordering for the steel plant at Koppal are planned by end of March, but funding details are not disclosed.
- →The company is prioritizing various projects but has not indicated any plans for additional fund raising as per the call transcript.
- →Overall, no explicit information on new fundraising through debt or equity is provided in the document.
📋 Order Book & Pipeline
- →The ONGC order is a significant part of the current orderbook in the seamless tube segment.
- →The complete execution of the ONGC order will span over the current and next quarter, indicating a sizable pending order volume.
- →The company is expecting a big lineup of sales in the oil and gas sector for the current quarter, tied to the ONGC order.
- →Specific volume guidance related to the ONGC order shows it contributes notably to tube sales.
- →Casting division ramp-up plans hint at pending new orders and opportunities, especially related to new product developments at Solapur.
- →The company aims to achieve reasonably good growth in steel sales (~120,000 tons), tube sales (~220,000 tons from ~190,000 tons this year), casting sales (~190,000 tons), and pig iron close to 600,000 tons.
- →Overall, a continued compound annual growth rate (CAGR) of ~14-16% is targeted, factoring in market price pressures.
Key Metrics
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Frequently Asked Questions
What were Kirloskar Ferrous Industries Ltd Q3 FY26 results?
Steel sales target: Increase to at least 120,000 tons next year (FY '27). The company aims for a CAGR growth of 14% to 16% in value numbers over the coming years.
What is Kirloskar Ferrous Industries Ltd share price analysis?
Kirloskar Ferrous Industries Ltd currently shows a neutral. The stock trades at a P/E of 18.2 with a market cap of ₹7,134 Cr. Investors should review the full earnings analysis for detailed insights.
Is Kirloskar Ferrous Industries Ltd planning capital expenditure?
Kirloskar Ferrous Industries is commissioning incremental green power capacity of 130 MW (70 MW solar + 25 MW wind) targeted for commissioning between April to September FY '27, aiming for a total of ~200 MW solar equivalent capacity.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.