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Kirloskar Ferrous Industries Ltd

Company details

364.75
397.00
184.05
397.00
6M Return 90.87%
1Y Return 69.97%
Mkt Cap.(Cr) 5,485.48
Volume 55,292
Div Yield 1.39%
OI
-
OI Chg %
-
Volume 55,292

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Technical Outlook
    Nifty Metal index registered a new high on Monday continuing its bull trend in new year. Within midcap companies, Kirloskar Ferrous has been outperformer and we expect the outperformance to further enhance in coming months 
     
    The share price remained resilient within midcap pack over past few weeks as despite broader market decline, stock gave a strong breakout from 15 month consolidation (₹310-185) indicating structural improvement and resumption of primary uptrend
     
    The breakout from the 15 month range is validated by strong volumes highlighting increased participation and augurs well for sustainability of uptrend
     
    Going ahead we expect stock to maintain positive bias and head towards ₹418 levels being the measuring implication of range breakout ((₹310-185)
     
    Amongst oscillators, MACD diverging from its 9 period average, indicating strong momentum from medium term perspective

Q1FY

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Kirloskar Ferrous Industries Ltd.

Q2FY23 Quarterly Result Announced for Kirloskar Ferrous Industries Ltd.

Iron & steel manufacturer Kirloskar Ferrous Industries announced Q2FY23 results:

  • Standalone Q2FY23:
    • Operating revenue at Rs 1,133.5 crore for Q2FY23 vs Rs 949.9 crore for Q1 FY23; 19% increase QoQ
    • EBITDA at Rs 159.7 crore for Q2FY23 vs Rs 152.8 crore for Q1FY23; 4.5% increase QoQ
    • EBITDA margin at 14% for Q2FY23 vs 16% Q1FY23
    • PBT at Rs 114.1 crore for Q2FY23 vs Rs 109.2 crore for Q1FY23; 4% increase QoQ
    • PAT at Rs 82.0 crore for Q2FY23 vs Rs 83.9 crore for Q1FY23; 2% decrease QoQ
  • Consolidated Q2FY23:
    • Operating revenue at Rs 1,757.5 crore for Q2FY23 vs Rs 1,493.8 crore for Q1 FY23; 18% increase QoQ
    • EBITDA at Rs 219.7 crore for Q2FY23 vs Rs 186.7 crore for Q1 FY23; 18% increase QoQ
    • EBITDA margin at 12% for Q2FY23 same level as Q1 FY23
    • PBT at Rs 154.0 crore for Q2 FY23 vs Rs 125.6 crore for Q1FY23; 23% increase QoQ
    • PAT at Rs 111.0 crore for Q2 FY23 vs Rs 102.1 crore in Q1 FY 23; 9% increase QoQ

Commenting on the Q1FY2023 results, RV Gumaste, Managing Director, KFIL, said, “Q2 has been a steady quarter with 19% growth on topline quarter-on-quarter. Our EBITDA margin on the standalone business was at 14% on account of higher raw material costs. All the projects on capacity enhancement and cost reduction are progressing as planned.

On the consolidated side, the performance was satisfactory too, with a similar growth of 18% on the top line. On the ISMT front, the order tractions have been satisfactory.”

 

Result PDF

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OUR RESEARCH VIEW

Investment recommendation

Call Date

02 Jan 2023

Entry Price

354.00

Target Price

418.00

Duration

3 Month

FINANCIALS

Sales

Operating Profit

Profit after Tax

Equity

Reserves and Surplus

Debt

Sales

Operating Profit

Profit after Tax

PE

Debt/Equity

P BV

COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 1,765.33 Cr FV: 5.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 17,871.26 -28,732.63
LAST 3M 35,065.84 -30,146.79
LAST 6M 57,360.50 38,576.46
LAST 12M 186,944.70 -113,961.48

INFORMATION

Stock PE (TTM)

15.93

Promoter Holding

56.66%

Book Value

127.1241

ROCE

19.24%

ROE

16.98%

Description

  • Kirloskar Ferrous Industries Limited (KFIL), which was incorporated on 10th September 1991 to manufacture pig iron and ferrous castings. Business areas of the company encompass Grey Iron castings, S.G Iron castings, Steel Investment castings and Pig Iron. The product range includes Grey Iron castings: 1 kg - 500 kg single piece weight, S.G Iron castings: 1 Kg -70 Kg single piece weight, Investment castings: 1 gram-1 Kg single piece weight and Pig Iron: Foundry Grade, S.G. Iron Grade & Basic Grade. For the producing the all above, the company having two manufacturing units in Bevinahalli Village (Near Hospet) and Solapur. KFIL had entered into a technical collaboration with M/s. Tata Kort Engineering Services Ltd in March of the year 1992 for its business purpose. The Company`s commercial production of Pig Iron from Mini Blast Furnace I and 3.5 MW Power Plant-1, using Blast Furnace Gas were started in the year 1994 and in the identical year, KFIL had issued Initial Public Offer. The commercial production of Grey Iron castings came to line in the year of 1995. In the same year of 1995, KFIL had started to produce Mini Blast Furnace II. The company had obtained an ISO 9002 certification. The Company`s 3.5 MW Power Plant-2 was installed in the year of 1997. In 1997, Turbo Generator II was taken on lease with a capacity for the generation of 3.5 MW of power using Blast Furnace Gas. TG - II was taken on lease. After a year in 1998, the company started supply of TG power to foundry. During the period of 1999-2000, KFIL had entered into a long term contract for pig iron with an institutional buyer and also secured a sales tax exemption for further two years. During the year 2000, the company entered into financial restructuring with IDBI and with other institutions namely IFCI, IIBI, GIC, OIC, LIC and NIA. In 2001, KFIL had received an ISO 9002 certification. After a year, in 2002, an ISO 14000 certification was handed over to the company. KFIL had entered into one time settlement with Financial Institutions for the repayment of the high cost Loans in the year 2003. An ISO / TS 16949:2002 certification was added to the company`s quality list in the year of 2005. KFIL had purchased the MBF II and TG I, II in the year 2006 for its various purpose, which were earlier taken on lease. During the year 2007, the company had acquired Solapur foundry from Kirloskar Oil Engines Ltd and also Hot Blast Stoves project for Mini Blast Furnace -1 was commissioned.

Registered Address

13 Laxmanrao Kirloskar Road, Khadki, Pune, Maharashtra, 411003

Tel : 91-20-66084664
Email : investor:kfil.com
Website : http://www.kfil.com

Registrar

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AGM Date (Month) : Jul
Face Value Equity Shares : 5
Market Lot Equity Shares : 1
BSE Code : 500245
NSE Code : KIRLFER
Book Closure Date (Month) : Jul
BSE Group : A
ISIN : INE884B01025

ICICIdirect Kirloskar Ferrous Industries Ltd FAQ

You can buy Kirloskar Ferrous Industries Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Kirloskar Ferrous Industries Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Feb 03, 2023 04:01 PM the closing price of Kirloskar Ferrous Industries Ltd was ₹ 395.00.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Feb 03, 2023 04:01 PM, the market cap of Kirloskar Ferrous Industries Ltd stood at ₹ 5,485.48.
The latest PE ratio of Kirloskar Ferrous Industries Ltd as of Feb 03, 2023 04:01 PM is 15.93
The latest PB ratio of Kirloskar Ferrous Industries Ltd as of Feb 03, 2023 04:01 PM is 0.32
The 52-week high of Kirloskar Ferrous Industries Ltd is ₹ 397.00 while the 52-week low is ₹ 184.05
According to analyst recommendations, Kirloskar Ferrous Industries Ltd has a “Buy” rating for the long term.

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