Kirloskar Brothers Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹12,719 Cr
- P/E
- 31.43
- ROE
- 17.30%
- PEG
- 1.68
- Price to sales
- 2.72
- Debt to equity
- 0.10
- 52W high / low
- ₹2,073 / ₹1,339
- Sales growth (5Y)
- 10.81%
- EBITDA margin
- 11.75%
- Net profit margin
- 8.77%
- Promoter holding
- 65.95%
- Sales (last year)
- ₹4,664 Cr
Kirloskar Brothers is a part of the Kirloskar Group engaged in the business of engineering and manufacturing of systems for fluid management. The core businesses include large infrastructure projects (Water Supply, Power Plants, and Irrigation), Pumps, Valves, Motors and Hydro turbines. [1] [2]
Guidance scorecard · Q2 FY27 call
What Kirloskar Brothers Ltd's management guided
and where it ranks in Industrial Products
RevenueQ1 FY27 call
10–20%- Kirloskar Brothers Limited expects double-digit revenue growth year-on-year for standalone and consolidated businesses going forward.
- Strong order inflows and a robust domestic and international order book support this outlook.
- Growth drivers include power, oil & gas, marine & defense, and building & construction sectors, supported by urbanization and data center opportunities.
- The standalone business is expected to benefit from the completion of foundry modernization, enabling higher revenues.
- Expansion in service portfolios, particularly in international markets like the U.S., is anticipated to contribute to improved margins and revenue growth.
- Anticipated execution of orders from sectors such as nuclear power plants and thermal power plants will drive revenue.
2 more points from Kirloskar Brothers Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Kirloskar Brothers Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Planned capital expenditure for FY27 is expected to be approximately equal to the depreciation amount.
- Capex will mainly be used for modernization, debottlenecking, and meeting quality requirements across the company.
- Modernization investments align with improving capacity and quality rather than expansion into entirely new business areas.
FundraisingQ1 FY27 call
See what Kirloskar Brothers Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- As of June 2026, the domestic pending orders amounted to Rs. 25,577 million, excluding small pump orders, indicating a strong pipeline.
- The overseas pending order book stood at Rs. 15,045 million, providing strong visibility for coming quarters.
- Standalone order book details: Industry order book is Rs. 1,497 million (corrected from a misprint); marine and defense order book is Rs. 556 million.
- Orders booked till date for petrol pumps stand at approximately Rs. 217 crores.
- Nuclear power orders include around Rs. 70 crores for primary circuit pumps and Rs. 40 crores for secondary circuit pumps.
2 more points from Kirloskar Brothers Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Kirloskar Brothers Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Kirloskar Brothers Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% |
| FIIs + | 3.88% | 4.11% | 5.03% | 5.12% | 5.61% | 6.10% | 6.27% | 6.01% | 6.05% | 6.24% | 6.41% | 6.12% |
| DIIs + | 9.40% | 9.77% | 9.88% | 10.11% | 10.22% | 9.61% | 9.79% | 9.90% | 10.32% | 10.38% | 10.23% | 10.85% |
| Public + | 20.77% | 20.18% | 19.13% | 18.81% | 18.20% | 18.35% | 18.01% | 18.13% | 17.67% | 17.43% | 17.40% | 17.09% |
| No. of Shareholders | 40,363 | 43,058 | 50,109 | 70,037 | 71,630 | 72,077 | 66,864 | 68,236 | 66,938 | 66,266 | 64,065 | 62,300 |
Financials of Kirloskar Brothers Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 913 | 965 | 1,224 | 1,031 | 1,036 | 1,144 | 1,281 | 979 | 1,028 | 1,116 | 1,415 | 1,105 | 1,277 |
| Expenses + | 818 | 841 | 1,033 | 919 | 894 | 978 | 1,092 | 867 | 919 | 974 | 1,233 | 989 | 1,152 |
| Operating Profit | 95 | 124 | 191 | 112 | 142 | 166 | 190 | 112 | 108 | 142 | 182 | 116 | 124 |
| OPM % | 10% | 13% | 16% | 11% | 14% | 14% | 15% | 11% | 11% | 13% | 13% | 10% | 10% |
| Other Income + | 2 | 16 | 36 | 15 | 14 | 11 | 24 | 16 | 18 | 4 | 1 | 15 | 19 |
| Interest | 6 | 5 | 8 | 6 | 6 | 8 | 6 | 6 | 6 | 9 | 9 | 8 | 10 |
| Depreciation | 19 | 21 | 21 | 21 | 22 | 22 | 24 | 23 | 24 | 25 | 28 | 27 | 29 |
| Profit before tax | 72 | 114 | 199 | 100 | 129 | 146 | 184 | 98 | 96 | 112 | 146 | 95 | 104 |
| Tax % | 34% | 27% | 28% | 29% | 26% | 22% | 33% | 28% | 30% | -7% | 29% | 30% | 28% |
| Net Profit + | 51 | 82 | 153 | 66 | 97 | 118 | 138 | 68 | 72 | 125 | 112 | 68 | 75 |
| EPS in Rs | 6.35 | 10.31 | 19.17 | 8.20 | 12.05 | 14.76 | 17.27 | 8.40 | 8.94 | 15.65 | 14.04 | 8.39 | 9.28 |
Financials of Kirloskar Brothers Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,713 | 2,642 | 2,526 | 2,775 | 3,349 | 3,135 | 2,717 | 3,058 | 3,730 | 4,001 | 4,492 | 4,538 | 4,913 |
| Expenses + | 2,520 | 2,567 | 2,431 | 2,625 | 3,221 | 2,928 | 2,475 | 2,852 | 3,330 | 3,481 | 3,883 | 3,993 | 4,349 |
| Operating Profit | 193 | 75 | 95 | 151 | 128 | 207 | 241 | 206 | 400 | 520 | 609 | 545 | 564 |
| OPM % | 7% | 2.8% | 3.8% | 5% | 3.8% | 7% | 9% | 7% | 11% | 13% | 14% | 12% | 11% |
| Other Income + | 15 | 27 | 31 | 21 | 23 | 37 | 53 | 32 | 22 | 65 | 64 | 38 | 38 |
| Interest | 50 | 51 | 45 | 40 | 47 | 52 | 44 | 33 | 35 | 26 | 25 | 30 | 35 |
| Depreciation | 95 | 66 | 65 | 59 | 64 | 71 | 68 | 70 | 69 | 78 | 89 | 100 | 110 |
| Profit before tax | 63 | -15 | 16 | 73 | 41 | 121 | 182 | 135 | 318 | 481 | 559 | 452 | 458 |
| Tax % | 28% | -25% | 111% | 37% | 113% | 44% | 15% | 40% | 29% | 29% | 28% | 20% | |
| Net Profit + | 45 | -23 | 4 | 50 | 3 | 72 | 161 | 94 | 236 | 350 | 419 | 377 | 380 |
| EPS in Rs | 5.18 | -3.04 | 0.48 | 6.22 | 0.44 | 9.05 | 20.29 | 11.88 | 29.59 | 43.84 | 52.29 | 47.05 | 47.36 |
| Dividend Payout % | 10% | -16% | 207% | 40% | 570% | 28% | 15% | 25% | 15% | 14% | 13% | 15% |
Financials of Kirloskar Brothers Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| Reserves | 996 | 907 | 882 | 927 | 893 | 927 | 1,089 | 1,162 | 1,388 | 1,703 | 2,077 | 2,448 | 2,553 |
| Borrowings + | 355 | 362 | 359 | 346 | 380 | 578 | 331 | 396 | 286 | 192 | 182 | 250 | 288 |
| Other Liabilities + | 1,258 | 1,166 | 1,194 | 1,266 | 1,377 | 1,327 | 1,279 | 1,289 | 1,326 | 1,413 | 1,391 | 1,693 | 1,705 |
| Total Liabilities | 2,625 | 2,450 | 2,451 | 2,555 | 2,666 | 2,848 | 2,715 | 2,862 | 3,016 | 3,325 | 3,666 | 4,407 | 4,562 |
| Fixed Assets + | 571 | 501 | 480 | 461 | 457 | 501 | 481 | 532 | 532 | 634 | 655 | 702 | 735 |
| CWIP | 12 | 6 | 4 | 13 | 25 | 51 | 73 | 27 | 82 | 32 | 34 | 58 | 54 |
| Investments | 0 | 43 | 46 | 49 | 57 | 104 | 195 | 333 | 317 | 410 | 619 | 758 | 630 |
| Other Assets + | 2,042 | 1,901 | 1,921 | 2,031 | 2,127 | 2,191 | 1,966 | 1,970 | 2,085 | 2,249 | 2,358 | 2,888 | 3,142 |
| Total Assets | 2,625 | 2,450 | 2,451 | 2,555 | 2,666 | 2,848 | 2,715 | 2,862 | 3,016 | 3,325 | 3,666 | 4,407 | 4,562 |
Financials of Kirloskar Brothers Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 127 | 97 | 100 | 110 | 62 | 305 | 317 | 114 | 329 | 370 | 386 | 334 |
| Cash from Investing Activity + | -134 | -47 | -35 | -44 | -57 | -172 | -145 | -183 | -73 | -166 | -236 | -213 |
| Cash from Financing Activity + | -2 | -50 | -58 | -52 | -23 | 125 | -315 | 30 | -169 | -159 | -92 | -44 |
| Net Cash Flow | -9 | -0 | 8 | 14 | -19 | 259 | -143 | -39 | 87 | 45 | 57 | 78 |
| Free Cash Flow | -2 | 34 | 56 | 58 | -3 | 168 | 245 | 50 | 209 | 259 | 297 | 204 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 82% | 159% | 100% | 82% | 62% | 165% | 146% | 76% | 99% | 95% | 90% | 86% |
Financials of Kirloskar Brothers Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 106 | 78 | 77 | 71 | 66 | 57 | 62 | 62 | 48 | 48 | 40 | 53 |
| Inventory Days | 86 | 99 | 122 | 130 | 123 | 137 | 152 | 140 | 133 | 157 | 142 | 142 |
| Days Payable | 158 | 147 | 155 | 144 | 135 | 119 | 138 | 128 | 112 | 122 | 100 | 128 |
| Cash Conversion Cycle | 33 | 30 | 43 | 58 | 55 | 75 | 76 | 73 | 69 | 83 | 82 | 68 |
| Working Capital Days | 36 | 25 | 21 | 36 | 26 | -5 | 14 | 20 | 28 | 36 | 37 | 46 |
| ROCE % | 9% | 3% | 5% | 9% | 7% | 12% | 15% | 11% | 22% | 27% | 28% | 20% |
Guidance history
How Kirloskar Brothers Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
21 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −16.0% | 43% |
| Last 6 months | −7.4% | 44% |
| Last 3 months | −14.3% | 34% |
The price is 38.5% below its all-time high of ₹2,606.3 (5 Jul 2024). Stocks more than 20% below their peak have their score halved, so 41 became 21.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Kirloskar Brothers Ltd: 0.4 × 43 + 0.4 × 44 + 0.2 × 34 = 41, halved to 21 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Kirloskar Brothers Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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