Pune, India – November 03, 2023: Kirloskar Ferrous Industries Limited (BSE : 500245), one of the leading
castings and pig iron manufacturers in India, announced today its unaudited
financial results for the second quarter ended 30th September 2023.
Commenting on
the Q2 FY 2024 results, R.V.Gumaste, Managing Director, KFIL, said “This
has been a challenging quarter especially due to pressure of high input
commodities prices. All our planned shutdowns are done now, and we expect
normalized production capacities for the second half of the year. Casting
demand for commercial vehicles and off-highway vehicles continued strong,
however demand from tractor industry was subdued. During the quarter we
completed the acquisition of Oliver engineering and we have taken the
management control as on 29th September 2023.”
Review of Standalone Q2 FY 2023-24 Financial Performance:
●
Operating revenue at INR 879.8 Cr
for Q2 FY24 vs INR 926.5 Cr for Q1 FY24; 5% decrease Q-o-Q
●
EBITDA at INR 132.7 Cr for Q2 FY24
vs INR 127 Cr for Q1 FY24; 5% increase
Q-o-Q
●
EBITDA margin at 15% for Q2 FY24
vs 14% Q1 FY24
●
PBT at INR 75.9 Cr for Q2 FY24 vs
INR 71.3 Cr for Q1 FY24; 7% increase Q-o-Q
●
PAT at INR 56.9 Cr for Q2 FY24 vs
INR 53.8 Cr for Q1 FY24; 6% increase Q-o-Q
Review of Consolidated Q2 FY 2023-24 Financial Performance:
●
Operating revenue at INR 1,559.7
Cr for Q2 FY24 vs INR 1,502.5 Cr for Q1 FY24; 4% increase Q-o-Q
●
EBITDA at INR 252.3 Cr for Q2 FY24
vs INR 207.4 Cr for Q1 FY24; 22% increase Q-o-Q
●
EBITDA margin at 16% for Q2 FY24
vs 14% for Q1 FY24
●
PBT (before exceptional Item) at
INR 169.8 Cr for Q2 FY24 vs INR 135.9 Cr for Q1 FY24; 25% increase Q-o-Q
●
PAT at INR 81.7 Cr for Q2 FY24 vs
INR 92.9 Cr in Q1 FY 24; 12% decrease Q-o-Q
About Kirloskar Ferrous Industries Limited
Founded in 1991,
Kirloskar Ferrous Industries Limited is one of India’s largest castings and pig
iron manufacturers. The company caters to various industry sectors, such as
tractors, automobiles and diesel engines. The manufacturing facilities at
Koppal, Hiriyur and Solapur have the unique capability of producing a range of
products that include grey iron castings up to 300 kg pieces. The company also
produces various grades of pig iron such as SG iron grade, basic steel grade
and foundry grade.
Kirloskar Ferrous Industries Limited is expanding its manufacturing
capacities in pig iron and casting. The
company has 3D printing facilities, enabling fast development of new products
and capability ramp-ups. The
company supplies fully machined castings and has added a coke oven
manufacturing facility with waste-heat recovery power.
For further Information
Please Contact:
|
KFIL
Company Secretary |
Group
Investor Relations |
|
Mr.
Mayuresh Gharpure
Tel: (020) 66084664 Email: kfilinvestor@kirloskar.com
|
Ms.
Mayura Bhusari
Tel: (020) 29704374 Email: mayura.bhusari@kirloskar.com
|
Kirloskar Ferrous Industries Limited
A Kirloskar
Group Company
Registered Office : 13, Laxmanrao Kirloskar
Road, Khadki, Pune 411003, Maharashtra
Telephone : +91 (20) 66084645 Telefax : +91
(20) 25813208 / 25810209
Email : kfilinvestor@kirloskar.com Website : www.kirloskarferrous.com
CIN : L27101PN1991PLC063223
Safe Harbor Statement
Statements in this document, particularly those which relate to
management’s views and analysis, describing the Company’s objectives,
projections, estimates and expectations may constitute “forward looking
statements” within the meaning of applicable laws and regulations. Actual
results may differ materially from those anticipated in the forward-looking
statements. The company assumes no obligation to update forward-looking
statements to reflect actual results, changed assumptions or other factors.
