Kirloskar Ferrous Industries Limited one of the leading castings and pig iron manufacturers in India, announced its audited financial results for the fourth quarter and financial year ended March 31, 2024.
Commenting on the Q4 and FY 2024 results, R. V. Gumaste, Managing Director, KFIL, 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 completions. We expect to start seeing returns from these projects soon."
Operating revenue at INR 994.4 Cr for Q4 FY24 vs INR 991.0 Cr for Q4 FY23; at same level Y-o-Y. EBITDA* at INR 96.9 Cr for Q4 FY24 vs INR 158.0 Cr for Q4 FY23; 39% decrease Y-o-Y. EBITDA* margin at 10% for Q4 FY24 vs 16% Q4 FY23. PBT at INR 43.8 Cr for Q4 FY24 vs INR 110.2 Cr for Q4 FY23; 60% decrease Y-o-Y. PAT at INR 34.1 Cr for Q4 FY24 vs INR 81.9 Cr for Q4 FY23; 58% decrease Y-o-Y
Operating revenue at INR 1,535.9 Cr for Q4 FY24 vs INR 1,565.6 Cr for Q4 FY23; 2% decrease Y-o-Y. EBITDA* at INR 165.1 Cr for Q4 FY24 vs INR 221.0 Cr for Q4 FY23; 25% decrease Y-o-Y. EBITDA* margin at 11% for Q4 FY24 vs 14% Q4 FY23. PBT (before exceptional Item) at INR 62.6 Cr for Q4 FY24 vs INR 159.0 Cr for Q4 FY23; 61% decrease Y-o-Y. PAT at INR 17.7 Cr for Q4 FY24 vs INR 94.6 Cr for Q4 FY23; 81% decrease Y-o-Y
