Kirloskar Pneumatic Company Ltd (KPCL), a prominent player in Air, Refrigeration & Gas Compression business in India, announced its financial results for Q1 FY25.
Revenue from operations and PBT for the quarter showed growth over corresponding quarter of the previous year by over 13.6% and 53% respectively. Net Profit after tax has increased by over 50%.
Q1 F25 Total Income was at Rs.280 Cr compared to Rs 248 Cr of Q1 F24. PBT at Rs 35.9 Cr was 53% higher than Q1 F24 PBT of Rs. 23.5 Cr. Order booking in Q1 was at Rs 421 Cr. The orders on hand as of 1st July 24 were Rs 1,618 Cr which is 20% higher than that of 1st July 23.
Project execution across India was impacted by an unusually hot summer and the protracted election process. However, things have started moving since June 24 as reflected in the increased order inflow.
During the quarter the company entered into a MoU to acquire controlling interest in M/S Systems & Components who is a significant player in the Refrigeration packages for Pharma, Chemical and Dairy industry. We expect to complete the transaction in Q2 FY25 subject to due diligence and closing adjustments. This will help in expanding the addressable market for KPCL.
The company had a record filing of 15 IP’s in Q1 which reflects well on the maturing of the R&D initiative. Compression business continues to be around 92% of the Company’s revenue and remains as the only reporting segment.
Revenue from operations was higher at INR 275 Cr as against INR 242 Cr in Q1 FY24, witnessing a growth of about 13.6%. Consequentially total Income stood at INR 280 Cr as against INR 248 Cr of Q1 FY24. EBITDA margin however improved to 15.6% of total income compared to 13% in Q1 FY24.
PBT was at INR 35.9 Cr (12.8% of total income) compared to INR 23.5 Cr (9.5%) of Q1 FY 24, registering a growth of over 53%.Profit After Tax improved to 9.6% of the total income and stood at INR 26.9 Cr representing 50% growth over net profit of the Q1 FY 23 when it stood at INR 17.9 Cr (7.2% of total income).Order book stood around INR 1,618 Cr as on 1stJuly 24, which is 20% higher than at the beginning of the quarter FY24. (Rs.1,347 Cr as on 1st July 2023). Basic EPS in CY improved to Rs. 4.15 per share compared to Rs.2.77 in the PY.
