Kirloskar Industries Ltd Share Price – NSE  /  BSE

Finance, Small Cap

Kirloskar Industries has allotted 6,601 equity shares under Kirloskar Industries Limited – Employees Stock Appreciation Rights Plan 2019. Accordingly, the paid-up share capital of the Company has increased to 99,34,154 equity shares of Rs 10 each aggregating to Rs 9,93,41,540.

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Revenue from operations fell 3.27% year-on-year (YoY) to Rs 1,553.52 crore in Q3 FY24.

Profit before tax (PBT) stood at Rs 148.45 crore in Q3 FY23, down 19.40% YoY in Q3 FY24.

Total expenses fell 0.92% YoY to Rs 1,419.64 crore in quarter ended 31 December 2023. Cost of materials consumed was at Rs 844.70 crore (down 8.37% YoY) and employee expense was Rs 94.38 crore (up 13.99 %) during the quarter.

Mahesh Chhabria, Managing Director, KIL, said “We are pleased to announce the third quarter results – our subsidiary, KFIL, performed well despite of the headwinds in the input commodity prices and slowdown in the tractor industry. KFIL-ISMT merger is on course, and we anticipate the completion in accordance with the statutory timelines. Avante's projects are advancing according to schedule, with the first project, 'One Avante,' nearing completion, revenue recognition will follow in due course.

Kirloskar Industries (KIL) is engaged in the business of wind power generation, investments (securities and properties) and real estate activities. The company has windmills in Maharashtra.

Kirloskar Industries fell 1.01% to end at Rs 4,153.55 on the BSE as on 9 February 2024. The scrip hit an all-time high at Rs 4,249.95 in intraday today.

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Net profit of Kirloskar Industries declined 31.78% to Rs 42.95 crore in the quarter ended December 2023 as against Rs 62.96 crore during the previous quarter ended December 2022. Sales declined 3.28% to Rs 1553.52 crore in the quarter ended December 2023 as against Rs 1606.13 crore during the previous quarter ended December 2022.

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Kirloskar Industries will hold a meeting of the Board of Directors of the Company on 9 February 2024.

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