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Last Updated on: 25 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Kirloskar Brothers Ltd

About the Company - Kirloskar Brothers Ltd

Kirloskar Brothers Ltd. is a Public Limited Listed company incorporated on 15/01/1920 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L29113PN1920PLC000670 and registration number is 000670. Currently Company is involved in the business activities of Manufacture of fluid power equipment. Company’s Total Operating Revenue is Rs. 2165.94 Cr. and Equity Capital is Rs. 15.88 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
PumpsYamuna, Survey No. 98 (3-7), Pune Maharashtra 411045secretarial@kbl.co.in
http://www.kirloskarpumps.com
Management
NamePosition Held
Mr. Sanjay KirloskarChairman & Managing Director
Mr. Pratap B ShirkeNon Executive Director
Mr. Alok KirloskarNon Executive Director
Ms. Rama KirloskarNon Executive Director
Mr. Rajeev KherIndependent Director
Ms. Shailaja KherIndependent Director
Mr. Pradyumna VyasIndependent Director
Mr. M S UnnikrishnanIndependent Director
Mr. Shrinivas V DempoAdditional Director
Mr. Shobinder S DuggalAdditional Director
Ms. Ramni D NirulaAdditional Director

Basic Stock Data of Kirloskar Brothers Ltd

Last Updated: June 25, 2024, 10:51 pm

Market Cap 16,767 Cr.
Current Price 2,119
High / Low2,247/592
Stock P/E48.8
Book Value 216
Dividend Yield0.28 %
ROCE27.7 %
ROE22.0 %
Face Value 2.00
PEG Ratio1.46

Kirloskar Brothers Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales6427618596277517259547848649581,125900913
Expenses585666770601715682860743801808980790818
Operating Profit57958926364395416314914511095
OPM %9%13%10%4%5%6%10%5%7%16%13%12%10%
Other Income8122117316474-013102
Interest1389871087812886
Depreciation17171716152017161718181819
Profit before tax3582851816297324421191329572
Tax %31%15%8%40%76%31%35%38%29%25%31%30%34%
Net Profit26708312622551631891016451
EPS in Rs3.248.8810.441.520.762.736.861.943.8711.1712.628.026.41

Kirloskar Brothers Ltd Quarterly Chart

Kirloskar Brothers Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2,5412,5942,6752,7132,6422,5262,7753,3493,1352,7173,0583,7303,895
Expenses2,4022,3842,4672,5202,5672,4312,6253,2212,9282,4752,8523,3303,396
Operating Profit1392102081937595151128207241206400499
OPM %5%8%8%7%3%4%5%4%7%9%7%11%13%
Other Income456315273121233753322226
Interest63555150514540475244333533
Depreciation46495595666559647168706973
Profit before tax7511210563-15167341121182135318419
Tax %33%41%38%28%25%111%37%113%44%15%40%29%
Net Profit51666545-2345037216194236304
EPS in Rs6.158.318.075.18-3.040.486.220.449.0520.2911.8829.5938.22
Dividend Payout %35%24%31%10%-16%207%40%570%28%15%25%15%

Kirloskar Brothers Ltd Profit & Loss Yearly Chart

Kirloskar Brothers Ltd Growth

Compounded Sales Growth
10 Years:4%
5 Years:6%
3 Years:6%
TTM:10%
Compounded Profit Growth
10 Years:13%
5 Years:37%
3 Years:49%
TTM:51%
Stock Price CAGR
10 Years:21%
5 Years:47%
3 Years:74%
1 Year:168%
Return on Equity
10 Years:7%
5 Years:11%
3 Years:14%
Last Year:18%

Last Updated: April 8, 2024, 6:17 am

Kirloskar Brothers Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital16161616161616161616161616
Reserves8669159809969078829278939271,0891,1621,3881,456
Borrowings376334297355362359346380578331396286198
Other Liabilities1,1331,1361,2831,2581,1661,1941,2661,3771,3271,2791,2891,3261,261
Total Liabilities2,3902,4012,5762,6252,4502,4512,5552,6662,8482,7152,8623,0162,931
Fixed Assets490533543571501480461457501481532532600
CWIP431710126413255173278246
Investments2412043464957104195333317302
Other Assets1,8561,8472,0112,0421,9011,9212,0312,1272,1911,9661,9702,0851,983
Total Assets2,3902,4012,5762,6252,4502,4512,5552,6662,8482,7152,8623,0162,931

Kirloskar Brothers Ltd Reserves and Borrowings Chart

Kirloskar Brothers Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 971901891279710011062305317114329
Cash from Investing Activity -2-64-74-134-47-35-44-57-172-145-183-73
Cash from Financing Activity -136-93-112-2-50-58-52-23125-31530-169
Net Cash Flow-41333-9-0814-19259-143-3987

Kirloskar Brothers Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days7479931067877716657626248
Inventory Days8486668699122130123137152140133
Days Payable132140140158147155144135119138128115
Cash Conversion Cycle262619333043585575767366
Working Capital Days786968766765695946465142
ROCE %9%14%13%9%3%5%9%7%12%15%11%22%

Kirloskar Brothers Ltd Financial Efficiency Indicators Chart

Kirloskar Brothers Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters65.95%65.95%65.95%65.95%65.95%65.95%65.95%65.95%65.95%65.95%65.95%65.95%
FIIs1.19%1.40%1.42%1.48%1.67%1.67%1.53%1.56%1.59%1.78%3.50%3.88%
DIIs10.12%10.12%9.53%9.05%9.05%9.02%9.01%8.95%9.27%8.98%9.31%9.40%
Public22.74%22.52%23.10%23.52%23.33%23.36%23.52%23.55%23.18%23.29%21.23%20.77%
No. of Shareholders20,54922,58722,45122,35622,52522,52122,99525,39725,30134,53241,23840,363

Kirloskar Brothers Ltd Shareholding Pattern Chart

No. of Kirloskar Brothers Ltd Shareholders

Kirloskar Brothers Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund4,365,4691.06395.05175,4242024-06-242388.52%
Bandhan Infrastructure Fund466,1865.5442.19175,4242024-06-24165.75%
Bandhan Small Cap Fund264,6121.0723.95175,4242024-06-2450.84%
Franklin India Opportunities Fund205,1571.2518.57175,4242024-06-2416.95%
Franklin India Smaller Companies Fund175,4240.1615.88175,4242024-06-240%
DSP Tiger Fund159,9340.5914.47175,4242024-06-24-8.83%
Mahindra Manulife Small Cap Fund50,0000.24.52175,4242024-06-24-71.5%
Motilal Oswal Nifty Microcap 250 Index Fund25,2000.492.28175,4242024-06-24-85.63%
LIC MF Infrastructure Fund7,9640.550.72175,4242024-06-24-95.46%
Groww Nifty Total Market Index Fund570.020.01175,4242024-06-24-99.97%

Kirloskar Brothers Ltd ROCE Trend

Kirloskar Brothers Ltd EPS Trend

Kirloskar Brothers Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)29.5911.8820.299.050.44
Diluted EPS (Rs.)29.5911.8820.299.050.44
Cash EPS (Rs.)36.9819.0227.9417.567.38
Book Value[Excl.RevalReserv]/Share (Rs.)177.22148.60139.43119.12114.88
Book Value[Incl.RevalReserv]/Share (Rs.)177.22148.60139.43119.12114.88
Revenue From Operations / Share (Rs.)469.74385.04342.09394.84421.76
PBDIT / Share (Rs.)53.6830.0337.0530.8019.07
PBIT / Share (Rs.)45.0421.2828.4921.8311.03
PBT / Share (Rs.)40.0517.0622.9315.285.11
Net Profit / Share (Rs.)28.3410.2719.388.60-0.66
NP After MI And SOA / Share (Rs.)29.5911.8820.299.050.43
PBDIT Margin (%)11.427.7910.837.804.52
PBIT Margin (%)9.585.528.325.522.61
PBT Margin (%)8.524.436.703.861.21
Net Profit Margin (%)6.032.665.662.17-0.15
NP After MI And SOA Margin (%)6.293.085.932.290.10
Return on Networth / Equity (%)16.738.0114.587.620.38
Return on Capital Employeed (%)21.8011.7818.0115.148.38
Return On Assets (%)7.793.275.932.520.13
Long Term Debt / Equity (X)0.070.110.070.120.06
Total Debt / Equity (X)0.180.310.240.580.39
Asset Turnover Ratio (%)0.960.850.700.830.94
Current Ratio (X)1.551.411.281.191.19
Quick Ratio (X)1.030.950.860.820.81
Inventory Turnover Ratio (X)2.452.361.761.992.44
Dividend Payout Ratio (NP) (%)10.1425.252.4660.23694.87
Dividend Payout Ratio (CP) (%)7.8414.531.7330.2635.94
Earning Retention Ratio (%)89.8674.7597.5439.77-594.87
Cash Earning Retention Ratio (%)92.1685.4798.2769.7464.06
Interest Coverage Ratio (X)12.057.136.664.703.22
Interest Coverage Ratio (Post Tax) (X)7.483.444.492.310.88
Enterprise Value (Cr.)3244.052365.632003.65937.981591.27
EV / Net Operating Revenue (X)0.860.770.730.290.47
EV / EBITDA (X)7.619.926.813.8410.51
MarketCap / Net Operating Revenue (X)0.860.730.700.220.38
Retention Ratios (%)89.8574.7497.5339.76-594.87
Price / BV (X)2.311.911.720.741.43
Price / Net Operating Revenue (X)0.860.730.700.220.38
EarningsYield0.070.040.080.100.00

Kirloskar Brothers Ltd Profitability Ratios (%)

Kirloskar Brothers Ltd Liquidity Ratios

Kirloskar Brothers Ltd Liquidity Ratios (%)

Kirloskar Brothers Ltd Interest Coverage Ratios (%)

Kirloskar Brothers Ltd Valuation Ratios

Fair Value

Fair Value: 2,325.47

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 9.74% compared to the current price 2119

Intrinsic Value: 3,101.98

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 46.39% compared to the current price ₹2119

Last 5 Year EPS CAGR: 33.39%

*Investments are subject to market risks

Strength and Weakness of Kirloskar Brothers Ltd Stock

StrengthWeakness
  1. The company has higher reserves (1,029.85 cr) compared to borrowings (353.69 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (2.38 cr) and profit (126.54 cr) over the years.
  1. The stock has a low average ROCE of 10.75%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 61.33, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 48.33, which may not be favorable.

FAQ

What is the latest fair value of Kirloskar Brothers Ltd?

The latest fair value of Kirloskar Brothers Ltd is ₹2325.47.

What is the Market Cap of Kirloskar Brothers Ltd?

The Market Cap of Kirloskar Brothers Ltd is 16,767 Cr..

What is the current Stock Price of Kirloskar Brothers Ltd as on 25 June 2024?

The current stock price of Kirloskar Brothers Ltd as on 25 June 2024 is ₹2,119.

What is the High / Low of Kirloskar Brothers Ltd stocks in FY 2024?

In FY 2024, the High / Low of Kirloskar Brothers Ltd stocks is 2,247/592.

What is the Stock P/E of Kirloskar Brothers Ltd?

The Stock P/E of Kirloskar Brothers Ltd is 48.8.

What is the Book Value of Kirloskar Brothers Ltd?

The Book Value of Kirloskar Brothers Ltd is 216.

What is the Dividend Yield of Kirloskar Brothers Ltd?

The Dividend Yield of Kirloskar Brothers Ltd is 0.28 %.

What is the ROCE of Kirloskar Brothers Ltd?

The ROCE of Kirloskar Brothers Ltd is 27.7 %.

What is the ROE of Kirloskar Brothers Ltd?

The ROE of Kirloskar Brothers Ltd is 22.0 %.

What is the Face Value of Kirloskar Brothers Ltd?

The Face Value of Kirloskar Brothers Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Kirloskar Brothers Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE