🔍 At a Glance
Kirloskar Industries Ltd (BSE: 500243, NSE: KIRLOSIND)reported₹6,608 Cr in revenuefor FY25 — a mere 3% YoY growth. Net profit slipped again to ₹308 Cr from ₹361 Cr last year, continuing itsmulti-year decline from FY23’s ₹460 Cr peak. Once a windmill of wealth (literally), Kirloskar Industries now feels like an inheritance nobody wants to manage.
Despite trading at just0.64x book value, the stock is down~40% from its 52-week highand has a5-year stock CAGR of 48%(thank KFIL for that). But with declining ROCE, subpar dividend payouts, and real estate rentals masquerading as income, the question remains:
Can a company built on cast iron, wind power, and family inheritance adapt to modern markets — or will it just keep leasing out its legacy?
🏢 About the Company
Kirloskar Industries Ltd (KIL) is part of the Kirloskar Group — one of India’s oldest industrial dynasties. KIL operates in:
- 🏭Iron Castings— throughKirloskar Ferrous Industries Ltd (KFIL), where it
- holds a51% stake.
- 🏢Investments & Real Estate— leasing out properties in Pune, New Delhi, and Jaipur to group firms.
- 🌬️Wind Power Generation— also a segment (but let’s be honest, a side hustle).
- 📈Financial Investments— primarily in group entities.
Basically: 90% of its standalone income comes fromdividends and rent. Corporate landlord meets industrial heir.
🧑💼 Key Managerial Personnel (KMP)
- Sanjay Kirloskar– Chairman of the group, from the 130-year-old Kirloskar family.
- Mr. Yatindra Sharma– Newly appointed MD in FY25.
- Mr. Kiran Dhopavkar– CFO
And of course, half the boardroom meetings are likely about dinner plans — this is a true family-run business.
📊 Financials Snapshot (Consolidated)
| FY | Revenue (₹ Cr) | EBITDA (₹ Cr) | Net Profit (₹ Cr) | OPM (%) | EPS (₹) | ROCE (%) |
|---|---|---|---|---|---|---|
| FY21 | 2,080 | 482 | 311 | 23% | 168.71 | 19% |
| FY22 | 3,810 | 685 | 316 | 18% | 197.95 | 15% |
| FY23 | 6,490 | 886 | 460 | 14% | 220.11 | 13% |
| FY24 | 6,396 | 965 | 361 | 15% | 201.86 | 11% |
| FY25 | 6,608 | 769 | 308 | 12% | 143.18 | 7% |
EPS down 35% in two years.
