CT Logo

Kirloskar Pneumatic Company Ltd (KPCL), a prominent player in Air, Refrigeration & Gas Compression business in India, announced today its financial results for Q4 & FY24.

Revenue from operations and PBT for the full year showed a year-on-year growth of 7% and 24% respectively. Net Profit after tax has increased by over 23%.

Q4 FY24 recorded sales of Rs. 490 Crores representing 59% growth quarter on quarter. Sales for the FY24 was at Rs. 1,239 Crores witnessing 7% growth year on year.

Tezcatlipoca, the centrifugal compressor introduced during the year was well received and we have strong orders in pipeline for scale up. The other new products like the Khione refrigeration compressor, Aria-Atmos and Calana booster compressor are all in the ramp-up phase – clearly strengthening the market offering of the company.

In order to address the emerging opportunities in Hydrogen compression, the company has entered into an agreement with PDC Machines LLC, USA to offer Diaphragm Compressor packages for various industries and applications.

As of March 31, 2024, the order book stood at Rs. 1,475 Crs, reflecting an increase of Rs 325 Crs compared to the same period last year. This represents a 28% growth in orders at the start of the year compared to the previous year. This rise indicates strong market demand and underscores the company's solid position at the start of the FY25.

Compression business continues to be around 93% of the Company’s revenue and remains as the only reporting segment.

Review of Q4 FY 2023-24 Financial Performance:

•  Revenue from operations of Rs. 490 Crs for Q4 FY24 as against Rs. 360 Crs for Q4 FY23; 36% growth Y-o-Y

•  EBIDTA for Q4 FY24 at 18% (Rs. 89 Crs) as against 14% (Rs. 51 Crs) for Q4 FY23; improvement of 400 bps

•  PBT for Q4 FY24 at Rs. 81 Crs as against Rs. 42 Crs for Q4 FY23; 93% increase Y-o-Y

•  PAT for Q4 FY24 at Rs. 60 Crs as against Rs. 32 Crs for Q4 FY23; 88% increase Y-o-Y

Review of FY 2023-24 Financial Performance:

•  Revenue from operations of Rs. 1,323 Crs for FY24 as against Rs. 1,239 Crs for FY23; 7% growth Y-o-Y

•  EBIDTA for FY24 at 16% (Rs. 213 Crs) as against 14% (Rs. 177 Crs) for FY23; improvement of 200 bps

•  PBT for FY24 at Rs. 178 Crs as against Rs. 143 Crs for FY23; 24% increase Y-o-Y

•  PAT for FY24 at Rs. 133 Crs as against Rs. 108 Crs for FY23; 23% increase Y-o-Y

•  EPS for FY24 at Rs. 20.60 per share against Rs. 16.82 per share in FY23.

DIVIDEND:

•  In line with the dividend policy, the Board of Directors has recommended a final dividend @ 200% of Rs. 4/- per share (in addition to interim divided @ 125%) taking the overall dividend to Rs. 6.50 per share (325%).