Kirloskar Oil Engines Ltd

Kirloskar Oil Engines Ltd

₹ 1,066 0.73%
22 Nov - close price
About

KOEL, one of the flagship companies of the Kirloskar group, manufactures and services diesel engines and diesel generator sets. The company also makes diesel, petrol and kerosene-based pump sets. It has manufacturing units in Pune, Kagal, and Nashik. The company caters to the agriculture, power generation, and industrial sectors.[1]

Key Points

Products and Brands[1]
B2B Segment
Engines and Gensets, Industrial Engines, Power Solutions for Large / Institutional, Project Clients (Marine, Defence etc), After Sales Support, Retail Channel – Tractor spares, Oil, Batteries.

  • Market Cap 15,476 Cr.
  • Current Price 1,066
  • High / Low 1,450 / 530
  • Stock P/E 34.7
  • Book Value 194
  • Dividend Yield 0.56 %
  • ROCE 18.3 %
  • ROE 14.2 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 26.2%

Cons

  • Stock is trading at 5.49 times its book value
  • Company has a low return on equity of 11.4% over last 3 years.
  • Promoter holding has decreased over last 3 years: -18.3%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
825 837 990 953 1,010 1,000 1,153 1,265 1,059 1,135 1,392 1,343 1,194
759 786 887 850 895 891 1,052 1,110 960 1,002 1,214 1,145 1,029
Operating Profit 67 51 103 103 115 109 101 154 99 133 178 198 165
OPM % 8% 6% 10% 11% 11% 11% 9% 12% 9% 12% 13% 15% 14%
7 5 60 5 5 6 9 7 6 6 8 11 12
Interest 1 2 2 1 1 2 1 1 2 2 3 3 3
Depreciation 20 19 19 21 21 21 22 21 24 26 26 25 27
Profit before tax 53 34 142 87 98 92 88 139 79 111 158 181 148
Tax % 27% 26% 16% 26% 26% 26% 26% 26% 26% 26% 26% 26% 25%
39 25 120 65 73 68 65 103 59 82 118 135 111
EPS in Rs 2.68 1.75 8.27 4.47 5.02 4.71 4.48 7.13 4.04 5.67 8.11 9.29 7.65
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,357 2,319 2,507 2,463 2,670 2,832 3,203 2,877 2,694 3,300 4,116 4,851 5,064
2,011 2,015 2,258 2,186 2,388 2,567 2,851 2,636 2,411 3,031 3,689 4,288 4,390
Operating Profit 347 304 249 277 283 265 351 242 284 269 427 562 674
OPM % 15% 13% 10% 11% 11% 9% 11% 8% 11% 8% 10% 12% 13%
19 38 58 49 83 69 61 54 16 77 27 29 37
Interest 2 0 0 9 3 3 4 4 6 6 5 8 10
Depreciation 93 98 102 111 111 109 73 67 62 77 85 97 103
Profit before tax 271 243 205 205 252 222 336 225 231 263 364 487 598
Tax % 27% 27% 30% 19% 31% 33% 33% 24% 27% 21% 26% 26%
199 178 143 165 174 150 225 170 170 208 270 362 446
EPS in Rs 13.75 12.34 9.90 11.43 12.01 10.38 15.56 11.78 11.74 14.38 18.67 24.95 30.72
Dividend Payout % 36% 41% 51% 44% 42% 48% 32% 34% 34% 28% 27% 24%
Compounded Sales Growth
10 Years: 8%
5 Years: 9%
3 Years: 22%
TTM: 13%
Compounded Profit Growth
10 Years: 7%
5 Years: 13%
3 Years: 28%
TTM: 51%
Stock Price CAGR
10 Years: 14%
5 Years: 47%
3 Years: 80%
1 Year: 98%
Return on Equity
10 Years: 10%
5 Years: 10%
3 Years: 11%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 29 29 29 29 29 29 29 29 29 29 29 29 29
Reserves 1,125 1,238 1,313 1,415 1,588 1,608 1,746 1,801 1,954 2,111 2,303 2,594 2,791
0 0 0 7 12 16 13 16 79 98 81 212 178
589 584 591 519 540 605 639 612 781 775 927 1,087 1,141
Total Liabilities 1,743 1,851 1,932 1,970 2,170 2,259 2,427 2,458 2,844 3,012 3,340 3,921 4,139
591 543 514 475 440 422 399 362 446 450 425 491 571
CWIP 27 42 21 29 15 30 41 74 55 39 66 243 223
Investments 418 608 876 793 990 931 994 1,101 1,534 1,672 1,693 1,876 1,773
707 658 521 673 725 876 993 920 809 850 1,156 1,311 1,572
Total Assets 1,743 1,851 1,932 1,970 2,170 2,259 2,427 2,458 2,844 3,012 3,340 3,921 4,139

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
216 338 339 98 172 167 146 228 526 194 260 434
31 -224 -282 81 -190 8 -59 -159 -545 -899 -156 -418
-250 -84 -84 -176 2 -130 -94 -115 33 708 -101 50
Net Cash Flow -3 29 -27 3 -15 45 -6 -47 14 3 4 66

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 45 28 8 24 27 42 40 46 48 44 41 43
Inventory Days 49 43 39 49 49 53 43 58 56 48 61 59
Days Payable 73 88 76 82 77 84 67 68 106 81 83 82
Cash Conversion Cycle 20 -17 -30 -10 -0 11 16 37 -2 11 20 20
Working Capital Days 13 -5 -24 9 21 23 13 33 1 8 15 13
ROCE % 25% 20% 14% 13% 13% 11% 17% 10% 12% 10% 15% 18%

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
59.44% 59.44% 59.44% 59.44% 59.43% 41.25% 41.23% 41.23% 41.22% 41.21% 41.18% 41.17%
1.33% 1.04% 1.02% 2.64% 3.60% 6.04% 6.17% 7.79% 9.06% 9.77% 9.98% 10.79%
16.91% 16.70% 16.81% 13.55% 14.66% 27.95% 28.57% 24.28% 24.37% 25.17% 25.42% 24.93%
22.32% 22.82% 22.73% 24.38% 22.31% 24.76% 24.03% 26.69% 25.36% 23.86% 23.40% 23.11%
No. of Shareholders 50,14052,71752,66957,25453,85256,26155,39472,79868,89177,5651,07,3231,21,481

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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