Kirloskar Ferrous Industries Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Kirloskar Ferrous Industries announced that the Annual General Meeting (AGM) of the company will be held on 1 August 2024.

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Kirloskar Ferrous Industries announced that Yashwant Sripad Bhave (DIN : 00057170) has retired as an Independent Director on 15 July 2024.

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The company’s revenue from operation fell 1.89% to Rs 1,535.92 crore in Q4 FY24 as compared to Rs 1,565.56 crore posted in the same period last year.

Profit before exceptional items and tax stood at Rs 62.59 crore in Q4 FY24, down 60.63% from Rs 159.01 crore posted in corresponding quarter previous year. The firm reported exceptional loss of Rs 26.59 crore during the fourth quarter of FY24.

EBITDA (excluding other income and exceptional item) stood at Rs 165.1 crore, registering the de-growth of 25.29% as compared with Rs 221 crore posted in same quarter last year. EBITDA margin reduced to 11% in Q4 FY24 as against 14% in Q4 FY23.

On full year basis, the company's consolidated net profit fell 31.93% to Rs 297.66 crore on 4.22% decrease in revenue from operations to Rs 6,146.29 crore in FY24 over FY23.

R.V.Gumaste, managing director, Kirloskar Ferrous lndustries, said, “This quarter has been challenging for KFIL due to demand-side issues. The subdued demand from the tractor industry impacted casting sales volumes, and pressure on pig iron margins affected the results. However, we are seeing early signs of revival, both in pig iron prices and tractor casting demand. All of our projects are progressing as planned, with many nearing completion. We expect to start seeing returns from these projects soon.

Meanwhile, the company’s board has approved to seek approval of the members of the company for fund raising not exceeding Rs 750 crore by way of issuance of non-convertible debentures (NCDs) in one or more tranches.

Kirloskar Ferrous Industries is one of India's largest castings and pig iron manufacturers. The company caters to various industry sectors, such as tractors, automobiles and diesel engines.

The scrip declined 4.82% to end at Rs 690.30on the BSE.

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Astral Ltd, Delhivery Ltd, Kiri Industries Ltd and Jupiter Wagons Ltd are among the other losers in the BSE's 'A' group today, 18 May 2024.

Kirloskar Ferrous Industries Ltd crashed 4.82% to Rs 690.3 at 18-May-2024 EOD IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 2.58 lakh shares were traded on the counter so far as against the average daily volumes of 54289 shares in the past one month.

Astral Ltd lost 4.82% to Rs 2193.3. The stock was the second biggest loser in 'A' group.On the BSE, 29513 shares were traded on the counter so far as against the average daily volumes of 16723 shares in the past one month.

Delhivery Ltd tumbled 3.96% to Rs 435.9. The stock was the third biggest loser in 'A' group.On the BSE, 75410 shares were traded on the counter so far as against the average daily volumes of 55643 shares in the past one month.

Kiri Industries Ltd fell 3.60% to Rs 357.55. The stock was the fourth biggest loser in 'A' group.On the BSE, 34572 shares were traded on the counter so far as against the average daily volumes of 24418 shares in the past one month.

Jupiter Wagons Ltd dropped 2.42% to Rs 515.9. The stock was the fifth biggest loser in 'A' group.On the BSE, 1.12 lakh shares were traded on the counter so far as against the average daily volumes of 3.28 lakh shares in the past one month.

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