Kirloskar Pneumatic Company Limited (KIRLPNU)
₹637.15 +0.36% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Kirloskar Pneumatic's revenue was ₹303 Cr (+7.6% year on year, -57.4% on the previous quarter), and net profit ₹33.2 Cr (+31.2% year on year); the operating margin was 15.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹303 | +7.6% | -57.4% |
| Operating profit | ₹45.6 | +36.9% | -75.5% |
| Net profit | ₹33.2 | +31.2% | -76.9% |
| EPS (₹) | 5.15 | +32.4% | -76.7% |
| Operating margin | 15.0% | — | — |
KIRLPNU delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 47.26% of the KIRLPNU shares traded on NSE were taken to delivery, against the stock's own 20-session average of 54.49%. That is lower than usual for this stock. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 51.2% · 58.0% · 52.2% · 53.0% · 47.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Kirloskar Pneumatic Company Limited announced that the Government of Maharashtra, via the Maharashtra State Infrastructure Development Corporation, acquired 7,200 square meters of company-owned land at Panchak, Nashik. The total sale consideration is ₹11.04 crore in connection with a proposed Ring Road project. The transaction is small, representing ~0.61% of TTM revenue (₹1,808 crore) and ~0.88% of net worth (₹1,251 crore). The company confirmed there is no impact on operations at its Nashik plant.
- Government of Maharashtra acquired 7,200 square meters of land at Panchak, Nashik
- Total sale consideration received/agreed is ₹11.04 Crores
- Acquisition conducted for the proposed Nashik Ring Road project
- Company confirmed zero operational impact on its Nashik manufacturing plant
Kirloskar Pneumatic Company Limited has notified stock exchanges of upcoming 1x1 virtual management interactions scheduled for September 21, 2026. The meetings include sessions with Sundaram Mutual Fund from 2:00 PM to 3:00 PM IST and Abakkus Mutual Fund from 3:15 PM to 4:15 PM IST. The company stated that no unpublished price sensitive information (UPSI) will be shared during these discussions.
- 1x1 virtual meeting scheduled with Sundaram Mutual Fund on Monday, September 21, 2026, from 2.00 pm to 3.00 pm (IST)
- 1x1 virtual meeting scheduled with Abakkus Mutual Fund on Monday, September 21, 2026, from 3.15 pm to 4.15 pm (IST)
- Company confirmed no unpublished price sensitive information will be shared
Kirloskar Pneumatic Company Limited has scheduled 1x1 virtual meetings with two institutional investors on September 21, 2026. Management will meet Sundaram Mutual Fund from 2:00 PM to 3:00 PM IST and Abakkus Mutual Fund from 3:15 PM to 4:15 PM IST. The company confirmed that no unpublished price sensitive information (UPSI) will be shared during these interactions. As an administrative intimation under Regulation 30, it has no direct financial impact.
- 1x1 virtual meeting scheduled with Sundaram Mutual Fund on Monday, September 21, 2026, 2:00 PM to 3:00 PM IST
- 1x1 virtual meeting scheduled with Abakkus Mutual Fund on Monday, September 21, 2026, 3:15 PM to 4:15 PM IST
- Company confirmed no unpublished price sensitive information (UPSI) will be discussed
Kirloskar Pneumatic Company Limited has scheduled interactions with institutional investors on September 17, 2026. The schedule comprises a 1x1 virtual meeting with HSBC Mutual Fund from 10:30 am to 11:30 am IST, followed by a group virtual meeting arranged by Prabhudas Lilladher Capital Group from 4:00 pm to 5:00 pm IST. The company stated that no unpublished price sensitive information (UPSI) will be discussed during these sessions.
- 1x1 virtual meeting scheduled with HSBC Mutual Fund on September 17, 2026 (10:30 am to 11:30 am IST)
- Group virtual meeting scheduled with Prabhudas Lilladher Capital Group on September 17, 2026 (4:00 pm to 5:00 pm IST)
- No unpublished price sensitive information (UPSI) will be shared during the interactions
Kirloskar Pneumatic Company Limited has scheduled 1x1 virtual institutional meetings on September 15, 2026. The management will interact with Capital Group, Singapore from 11:00 am to 11:30 am IST, followed by Amansa Capital from 11:30 am to 12:15 pm IST. The company stated that no unpublished price sensitive information (UPSI) will be discussed during these interactions.
- Virtual 1x1 meeting scheduled with Capital Group, Singapore on September 15, 2026, from 11.00 am to 11.30 am IST
- Virtual 1x1 meeting scheduled with Amansa Capital on September 15, 2026, from 11.30 am to 12.15 pm IST
- Company confirmed no unpublished price sensitive information will be shared
Kirloskar Pneumatic Company Limited has submitted its monthly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate covers the period from August 1, 2026, to August 31, 2026. The Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirmed that physical share certificates received were processed, mutilated, and cancelled within the prescribed 15-day timeline. This is a standard secretarial filing with no operational or financial impact.
- Compliance period spans August 1, 2026, to August 31, 2026
- Dematerialization requests processed within the stipulated 15-day limit
- Issued based on confirmation from RTA MUFG Intime India Private Limited dated September 8, 2026
Kirloskar Pneumatic Company Limited has filed its monthly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that all physical securities received for dematerialization between July 1, 2026, and July 31, 2026, have been processed. The company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, verified, mutilated, and cancelled the certificates within the prescribed 15-day timeline. This is a standard administrative procedure to ensure the accuracy of electronic shareholding records.
- Dematerialization requests processed for the period July 1, 2026, to July 31, 2026
- Substitution of depository name in records completed within the mandated 15 days
- Registrar and Share Transfer Agent involved is MUFG Intime India Private Limited
- Confirmation that dematerialized securities are listed on both BSE and NSE
Kirloskar Pneumatic has finalized August 18, 2026, as the record date for its 1:2 stock split. Each existing equity share with a face value of Rs 2 will be subdivided into two equity shares with a face value of Re 1 each. This corporate action is intended to improve liquidity for the stock, which currently trades at Rs 1458.0. The company remains fundamentally strong with a 30.0% ROCE and zero debt as of the latest filings.
- Record date for the sub-division is fixed for August 18, 2026
- Face value to be reduced from Rs 2 to Re 1 per equity share
- Current market price of Rs 1458.0 will adjust proportionally on the ex-split date
- Company reported a TTM PAT of Rs 254 Cr and maintains a debt-free status
Kirloskar Pneumatic (KIRLPNU) has completed the acquisition of a 99.49% stake in Kirloskar South East Asia Co. Ltd (KSEA), a Thailand-based trading entity. KSEA, established in 2016, focuses on compressor trading across South-East Asian markets and will now operate as a subsidiary. This move is intended to provide localized sales and after-sales support, strengthening the company's international footprint. While the acquisition value was not disclosed, it aligns with KIRLPNU's strategy to scale its Rs 1,787 Cr TTM revenue through global expansion.
- Acquisition of 99.49% of the total voting power in KSEA completed on August 3, 2026
- KSEA is based in Bangkok, Thailand, and has been engaged in compressor trading since 2016
- KIRLPNU reported a TTM revenue of Rs 1,787 Cr and a record production of 3,500+ compressors in FY25
- The acquisition aims to enhance customer engagement and provide faster after-sales support in the SE Asian region
Kirloskar Pneumatic Company Limited (KIRLPNU) has completed the acquisition of a 99.49% stake in Kirloskar South East Asia Co. Limited (KSEA), Thailand. The total cash consideration paid was 1,70,52,750 THB, equivalent to approximately Rs 4.95 Cr. KSEA reported a turnover of Rs 9.24 Cr and a net worth of Rs 6.77 Cr for the calendar year ending December 31, 2025. While the acquisition is small relative to KIRLPNU's TTM revenue of Rs 1,787 Cr, it establishes a formal subsidiary in the South East Asian market.
- Acquired 99.49% of total voting power in KSEA for a cash consideration of Rs 4.95 Cr
- Target company KSEA recorded a turnover of Rs 9.24 Cr (THB 30.91 Million) in CY2025
- KSEA's net worth as of December 31, 2025, was Rs 6.77 Cr (THB 22.65 Million)
- Acquisition completed on August 3, 2026, making KSEA a subsidiary of KIRLPNU
- The deal size represents approximately 0.28% of KIRLPNU's TTM revenue
Kirloskar Pneumatic Company Limited (KIRLPNU) has executed a Share Purchase Agreement (SPA) to acquire 99.49% of the voting power in Kirloskar South East Asia Co. Limited (KSEA). This follows the board approval granted on July 21, 2026. The acquisition aligns with the company's stated strategy to expand its global presence beyond its current domestic-heavy revenue base. With a debt-free balance sheet and TTM revenue of Rs 1,787 Cr, the company is well-positioned to fund such strategic integrations.
- Acquisition of 99.49% of total voting power in Kirloskar South East Asia Co. Limited (KSEA)
- Execution of the Share Purchase Agreement (SPA) completed on July 31, 2026
- Follows initial board approval and disclosure dated July 21, 2026
- Company maintains a strong financial position with Rs 0 Cr debt and 30% ROCE
- Strategic move to enhance global presence as per the company's long-term expansion strategy
Kirloskar Pneumatic (KIRLPNU) reported its highest-ever Q1 revenue of ₹300 Cr, a 10% YoY increase, supported by strong domestic demand for air compressors. Net profit grew 21.3% YoY to ₹34.1 Cr, while EBITDA margins expanded to 17.6% from 15.7% due to a favorable product mix and in-house manufacturing. The order book remains robust at ₹1,853 Cr, approximately 1.04x TTM revenue, despite geopolitical headwinds in the Middle East delaying some international process gas orders. The company remains debt-free and received a credit rating upgrade to AA from CRISIL during the quarter.
- Revenue reached a record Q1 high of ₹300 Cr, up 10% from ₹272 Cr in the previous year.
- Order book stands at ₹1,853 Cr as of July 1, 2026, providing strong revenue visibility.
- EBITDA margins improved by 190 basis points to 17.6% from 15.7% YoY.
- Filed a record 35 Intellectual Property (IP) applications during the quarter to drive innovation.
- Credit rating upgraded by CRISIL to AA from AA- with a stable outlook.
Kirloskar Pneumatic Company Limited has released the audio recording of its investor conference call held on July 22, 2026. The call focused on the unaudited financial results for the quarter ended June 30, 2026. This filing is a standard regulatory requirement under SEBI LODR Regulations to ensure transparency for all shareholders. Investors can access the recording on the company's official website to review management's commentary on operational performance.
- Conference call conducted on July 22, 2026, at 4:00 p.m. IST
- Discussion centered on unaudited financial results for the quarter ended June 30, 2026
- Recording made available on the company website as per Regulation 30 of SEBI LODR
- Follows the previous communication dated July 18, 2026, regarding the call schedule
Dr. Ajay Dua has stepped down as an Independent Director of Kirloskar Pneumatic Company Limited effective July 22, 2026. This cessation follows the completion of his second consecutive five-year term, which was approved by members in the AGM held on July 20, 2021. As per the filing, he also ceases to be a member of any board committees. This is a routine administrative change due to the expiration of a fixed tenure under SEBI regulations.
- Completion of a 5-year second term which began on July 22, 2021
- Cessation effective from July 22, 2026, upon tenure completion
- Simultaneous cessation of membership in all applicable board committees
- Company has a market capitalization of Rs 10,489 Cr as of the announcement date
Shareholders of Kirloskar Pneumatic Company Limited approved the re-appointment of Mr. Rahul C. Kirloskar as Executive Chairman at the Annual General Meeting held on July 21, 2026. The new five-year term will commence on January 23, 2027, ensuring leadership continuity for the company. This comes as the company maintains a strong financial profile with a TTM revenue of Rs 1,787 Cr and a high ROCE of 30.0%. The company remains debt-free with a market capitalization of Rs 10,489 Cr.
- Re-appointment of Mr. Rahul C. Kirloskar as Executive Chairman for a 5-year term.
- The new tenure is effective from January 23, 2027.
- Approval was granted by members during the AGM held on July 21, 2026.
- Company reported a record production of over 3,500 compressors in FY25.
- Maintains a healthy Operating Profit Margin (OPM) of 20.0% as per TTM data.
Financial Performance
Revenue Growth by Segment
Total revenue grew 23% YoY to INR 1,628.6 Cr in FY25. Compression systems (Air, Refrigeration, and Gas) account for 94% of total revenue and saw all-round growth. 9M FY25 revenue reached INR 1,046 Cr, a 26% YoY increase, driven by higher refrigeration business and increased offtake from pharma and food processing sectors.
Geographic Revenue Split
Growth in FY25 was driven by both higher domestic sales and increased export sales. However, 9M FY24 saw a 5% de-growth in operating income to INR 833 Cr primarily due to lower exports and domestic execution delays caused by approval processes.
Profitability Margins
Net Profit Margin improved to 12.8% in FY25 from 9.9% in FY24. Profit Before Tax (PBT) grew 57% YoY from INR 177.8 Cr to INR 280.6 Cr. Operating margins are supported by the company's ability to pass on raw material price increases and an increased share of high-margin equipment sales.
EBITDA Margin
EBITDA margin improved to 18.99% in FY25 compared to 16.53% in FY24. For 9M FY25, margins reached 17% vs 13% in the previous corresponding period, led by economies of scale and cost benefits from the in-house castings and forgings plant.
Capital Expenditure
Planned annual capital expenditure is INR 50 Cr over the medium term to support growth and modernization. Historical capex was approximately INR 30-40 Cr annually.
Credit Rating & Borrowing
Long-term rating is Crisil AA-/Positive (revised from Stable) and short-term rating is Crisil A1+. The company is debt-free with nil gearing, meaning borrowing costs are minimal and limited to non-borrowing bank service charges.
Operational Drivers
Raw Materials
Key raw materials include castings, forgings, and steel. The company utilizes its own castings and forgings plant to accrue cost benefits and ensure supply consistency.
Key Suppliers
Not disclosed in available documents, though the company utilizes an integrated in-house castings and forgings plant for core components.
Capacity Expansion
The company produced a record 3,500+ compressors in FY25. Expansion is supported by the acquisition of a majority stake in Systems & Components (India) Private Limited to enhance refrigeration packaging capabilities.
Raw Material Costs
Raw material prices have been moderating, contributing to margin improvement. However, profitability remains susceptible to volatile input prices due to project gestation periods of 3-18 months.
Manufacturing Efficiency
Manufacturing facilities are integrated across three locations in Pune. Record production of over 3,500 compressors in FY25 indicates high operational efficiency.
Logistics & Distribution
Supplies outstanding improved to 69 days from 86 days YoY due to more favorable payment arrangements with suppliers.
Strategic Growth
Expected Growth Rate
18-20%
Growth Strategy
Growth will be achieved through the acquisition of Systems & Components (India) Pvt Ltd for pharma/dairy refrigeration, the launch of road-railers using Wabash Inc (USA) technology, and a focus on the City Gas Distribution (CGD) segment which is expected to grow 10-15%. The company aims for INR 2,000 Cr revenue by FY26.
Products & Services
Air compressors, refrigeration and gas compressors, transmission products, and road-railers for Indian Railways.
Brand Portfolio
Kirloskar
New Products/Services
New launches include road-railers for Indian Railways and specialized refrigeration packages for the pharma, chemical, and dairy industries following recent acquisitions.
Market Expansion
Strategic focus is on achieving scale in the domestic market first, with aspirations for global presence later. Target sectors include CGD, pharma, and food processing.
Market Share & Ranking
Established market position in the compressor segment; 94% of revenue is derived from compression systems.
Strategic Alliances
Technology collaboration with Wabash Inc (USA) for road-railer manufacturing and technological collaborations for compressor segments.
External Factors
Industry Trends
The industry is seeing strong demand from City Gas Distribution (CGD) and infrastructure. Corporate India revenue growth is expected to improve to 7-8% in FY26, supporting demand for industrial compressors.
Competitive Landscape
Faces competition from domestic players and major international players' Indian subsidiaries who have access to parent-level technological support.
Competitive Moat
Moat is built on the 'Kirloskar' brand legacy, technological collaborations, and a strong after-sales service network. Sustainability is high due to the integrated nature of manufacturing and high switching costs for specialized compression systems.
Macro Economic Sensitivity
Highly sensitive to India's GDP growth (expected at 6.7% through 2031) and the capex cycles of capital-intensive end-user industries.
Consumer Behavior
Shift toward ESG and Net Zero commitments is influencing long-term organizational strategy and product development.
Geopolitical Risks
Export execution was impacted in 9M FY24, suggesting vulnerability to global trade dynamics and international approval delays.
Regulatory & Governance
Industry Regulations
Road-railer prototypes must be inspected and cleared by the Indian Railways' Research Design and Standards Organisation (RDSO).
Environmental Compliance
The company has long-term Net Zero and ESG commitments as part of the Kirloskar Group's 'Limitless' vision.
Legal Contingencies
Internal financial controls were tested in FY25 with no reportable weaknesses observed. Specific pending court case values were not disclosed.
Risk Analysis
Key Uncertainties
Vulnerability to cyclical demand from engineering and capital-intensive industries. A 20% revenue decline or operating margins falling below 8% are identified as key downward rating sensitivities.
Geographic Concentration Risk
Primary focus is on the Indian domestic market to achieve scale before expanding globally.
Third Party Dependencies
Dependent on the capex plans of major players in the oil and gas, steel, and power sectors.
Technology Obsolescence Risk
Mitigated by acquiring technology from global leaders like Wabash Inc and refreshing the business vision to be future-ready.
Credit & Counterparty Risk
Receivables are at 89 days; liquidity is strong with INR 335.6 Cr in net cash as of March 2025, mitigating counterparty risk.
