Kirloskar Ferrous Industries Limited, one of the leading castings and pig iron manufacturers in India, announced today its financial results for the first quarter ended 30th June 2023.
Commenting on the Q1 FY 2024 results, R.V.Gumaste, Managing Director, KFIL, said “In spite of a slowdown in the tractor industry, planned shutdown of mini blast furnaces and commodity price corrections, we could hold on to our topline. Profits are lower, which is due to higher prices of coking coal and lower realization on Pig Iron. We have received NOC from the stock exchanges, for the merger of ISMT into KFIL. The next step is to seek approval from the NCLT. We are looking forward to the benefits from the synergies of the merger.”
Operating revenue at INR 926.5 Cr for Q1 FY24 vs INR 949.9 Cr for Q1 FY23; 2% decrease Y-o-Y. EBITDA at INR 127 Cr for Q1 FY24 vs INR 138.2 Cr for Q1 FY23; 8% decrease Y-o-Y. EBITDA margin at 13.7% for Q1 FY24 vs 14.5%for Q1 FY23. PBT at INR 71.3 Cr for Q4 FY24 vs INR 109.2 Cr for Q1 FY23; 35% decrease Y-o-Y. PAT at INR 53.8 Cr for Q1 FY24 vs INR 83.9 Cr for Q1 FY23; 36% decrease Y-o-Y.
Operating revenue at INR 1,502.5 Cr for Q1 FY24 vs INR 1,493.8 Cr for Q1 FY23; 1% increase Y-o-Y. EBITDA at INR 207.4 Cr for Q1 FY24 vs INR 173.8 Cr for Q1 FY23; 19% increase Y-o-Y. EBITDA margin at 14% for Q1 FY24 vs 12% for Q1 FY23. PBT at INR 135.9 Cr for Q1 FY24 vs INR 125.6 Cr for Q1 FY23; 8% increase Y-o-Y. PAT at INR 92.9 Cr for Q1 FY24 vs INR 102.1 Cr for Q1 FY23; 9% decrease Y-o-Y.
