Kirloskar Oil Engines Limited (KOEL) (BSE: 533293; NSE: KIRLOSENG), a leader in the manufacturing of internal combustion engines, agricultural equipment, and generator sets with a sizable presence in international markets, announced today its audited financial results for the fourth quarter and financial year ended March 31, 2024.
Commenting on the Q4 and full year results, Gauri Kirloskar, Managing Director, Kirloskar Oil Engines, said “This quarter and the entire year have been exceptionally noteworthy for Kirloskar Oil Engines. We achieved our highest-ever quarterly and yearly revenue figures, surpassing Rs. 500 crores in international sales for the first time. I firmly attribute this success to the relentless efforts of our teams, fueled by robust market demand. This marks the beginning of our ambitious journey towards becoming a technology-driven leader in the power and energy systems.
From a business perspective, our CPCB IV+ products have experienced good traction, alongside the encouraging response for the newly introduced Optiprime range. Our B2B segment growth was backed by strong demand in key sectors such as construction, infrastructure, and railways. Meanwhile, our efforts focused to enhance profitability in the B2C segment have yielded substantial improvements in segment PBIT compared to the previous year.
Undoubtedly, it has been a challenging year operationally, navigating the transitions associated with emission norm changes. However, thanks to the dedication of our team and the support of our partners, we have successfully managed this transition. As we embark on the final year of our 2X 3Y journey, I am confident in the readiness and determination of the entire Kirloskar Oil Engines team to stay the course."
Review of Q4 FY 24 Financial Performance (Standalone):
Net sales at INR 1,378 Cr for Q4 FY 24 vs INR 1,141 Cr for Q4 FY 23; 21% increase Y-o-Y
EBITDA# at INR 178 Cr for Q4 FY 24 vs INR 129 Cr for Q4 FY 23; 38% increase Y-o-Y
EBITDA margin# at 12.8% for Q4 FY 24 vs 11.2% for Q4 FY 23
Net profit# at INR 118 Cr Q4 FY 24 vs INR 93 Cr for Q4 FY 23; 26% increase Y-o-Y
Cash and cash equivalents* of INR 269 Cr
Net of debt; includes treasury investments and excludes unclaimed dividends.
Review of FY 24 Financial Performance (Standalone):
Net sales at INR 4,806 Cr for FY 24 vs INR 4,073 Cr for FY 23; 18% increase Y-o-Y
EBITDA# at INR 578 Cr for FY 24 vs INR 457 Cr for FY 23; 26% increase Y-o-Y
EBITDA# margin at 11.9% for FY 24 vs 11.1% for FY 23
Net profit# at INR 375 Cr for FY 24 vs INR 298 Cr for FY 23; 26% increase Y-o-Y
Review of Q4 FY 24 Financial Performance (Consolidated):
Revenue from operations at INR 1,660 Cr for Q4 FY 24 vs INR 1,384 Cr for Q4 FY 23; 20% increase Y-o-Y
Net profit# at INR 131 Cr for Q4 FY 24 vs INR 107 Cr for Q4 FY 23; 23% increase Y-o-Y
Review of FY 24 Financial Performance (Consolidated):
Revenue from operations at INR 5,898 Cr for FY 24 vs INR 5,024 Cr for FY 23; 17% increase Y-o-Y
Net profit# at INR 468 Cr for FY 24 vs INR 360 Cr for FY 23; 30% increase Y-o-Y
