Fundamental Analysis of Kirloskar Oil Engines Ltd

About the Company - Kirloskar Oil Engines Ltd

Kirloskar Oil Engines Ltd. is a Public Limited Listed company incorporated on 12/01/2009 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L29100PN2009PLC133351 and registration number is 133351. Currently Company is involved in the business activities of Manufacture of general purpose machinery. Company’s Total Operating Revenue is Rs. 3299.66 Cr. and Equity Capital is Rs. 28.92 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Engines	Laxmanrao Kirloskar Road, Khadki, Pune Maharashtra 411003	investors@kirloskar.com http://www.koel.co.in

Management
Name	Position Held
Mr. Atul C Kirloskar	Chairman & Non-Exe.Director
Ms. Gauri Kirloskar	Managing Director
Mr. Rahul C Kirloskar	Non Independent Director
Mr. Vinesh Kumar Jairath	Non Independent Director
Mr. Mahesh R Chhabria	Non Independent Director
Mr. Arvind Goel	Independent Director
Mr. Satish Jamdar	Independent Director
Mr. Kandathil Mathew Abraham	Independent Director
Dr. Shalini Sarin	Independent Director
Mr. Yogesh Kapur	Independent Director
Mr. Purvi Sheth	Independent Director

Basic Stock Data of Kirloskar Oil Engines Ltd

Last Updated: July 26, 2024, 10:26 pm

Market Cap	17,629 Cr.
Current Price	1,218
High / Low	1,450/414
Stock P/E	40.0
Book Value	185
Dividend Yield	0.49 %
ROCE	15.0 %
ROE	17.7 %
Face Value	2.00
PEG Ratio	2.68

Data Source: screener.in

Kirloskar Oil Engines Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	959	1,087	821	1,001	1,018	1,182	1,191	1,228	1,220	1,384	1,543	1,305	1,390
Expenses	838	941	737	904	930	1,039	1,018	1,048	1,028	1,196	1,277	1,103	1,133
Operating Profit	121	147	84	97	88	143	173	181	192	188	266	201	257
OPM %	13%	13%	10%	10%	9%	12%	15%	15%	16%	14%	17%	15%	18%
Other Income	7	-1	6	7	5	8	6	6	7	11	7	8	-23
Interest	16	17	20	22	28	35	42	47	57	64	76	74	81
Depreciation	21	23	26	25	25	25	27	26	26	26	27	30	31
Profit before tax	91	106	44	57	40	91	110	113	117	109	170	105	122
Tax %	27%	26%	26%	27%	27%	25%	26%	27%	24%	27%	26%	26%	26%
Net Profit	66	78	32	42	29	68	82	83	88	79	126	78	89
EPS in Rs	4.58	5.40	2.22	2.93	2.12	4.79	5.64	5.79	6.09	5.45	8.67	5.38	6.20

Last Updated: July 11, 2024, 9:19 am

Kirloskar Oil Engines Ltd Quarterly Chart

Kirloskar Oil Engines Ltd Profit & Loss

Last Updated: July 10, 2024, 7:03 pm

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	2,464	2,674	3,055	3,626	3,379	3,296	4,022	5,024	5,622
Expenses	2,187	2,390	2,790	3,251	3,085	2,909	3,610	4,290	4,710
Operating Profit	277	283	265	376	295	387	412	734	913
OPM %	11%	11%	9%	10%	9%	12%	10%	15%	16%
Other Income	49	83	72	63	52	17	27	29	3
Interest	9	3	12	13	14	50	106	210	296
Depreciation	111	111	123	94	87	84	101	105	114
Profit before tax	205	253	203	331	245	270	232	449	506
Tax %	19%	31%	33%	34%	23%	27%	26%	26%
Net Profit	165	174	136	220	188	197	171	332	372
EPS in Rs	11.44	12.02	9.66	15.16	12.81	13.48	12.07	22.96	25.70
Dividend Payout %	44%	42%	52%	33%	31%	30%	33%	22%

Kirloskar Oil Engines Ltd Profit & Loss Yearly Chart

Kirloskar Oil Engines Ltd Growth

Compounded Sales Growth
10 Years:	%
5 Years:	10%
3 Years:	21%
TTM:	17%

Compounded Profit Growth
10 Years:	%
5 Years:	19%
3 Years:	32%
TTM:	37%

Stock Price CAGR
10 Years:	16%
5 Years:	46%
3 Years:	67%
1 Year:	192%

Return on Equity
10 Years:	%
5 Years:	12%
3 Years:	14%
Last Year:	18%

Last Updated: July 24, 2024, 5:33 pm

Kirloskar Oil Engines Ltd Balance Sheet

Last Updated: July 10, 2024, 7:03 pm

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	29	29	29	29	29	29	29	29	29
Reserves	1,415	1,588	1,547	1,670	1,716	1,893	2,053	2,275	2,444
Borrowings	7	12	142	90	189	849	1,965	3,244	3,328
Other Liabilities	519	541	783	807	825	1,026	975	1,169	1,215
Total Liabilities	1,970	2,170	2,500	2,595	2,759	3,797	5,021	6,717	7,017
Fixed Assets	475	440	702	663	623	698	721	689	781
CWIP	29	15	30	41	78	55	43	69	44
Investments	791	988	675	711	433	834	738	658	263
Other Assets	674	727	1,093	1,180	1,626	2,210	3,519	5,302	5,928
Total Assets	1,970	2,170	2,500	2,595	2,759	3,797	5,021	6,717	7,017

Kirloskar Oil Engines Ltd Reserves and Borrowings Chart

Kirloskar Oil Engines Ltd Cash Flow

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity	99	171	136	192	-124	-16	-1,041	-920	-469
Cash from Investing Activity	82	-190	7	-38	233	-465	-3	-145	-109
Cash from Financing Activity	-176	2	-96	-153	-43	599	950	1,182	800
Net Cash Flow	6	-16	48	1	67	118	-93	117	223

Kirloskar Oil Engines Ltd Financial Efficiency Indicators

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	23	27	48	41	45	49	43	38
Inventory Days	49	49	64	49	69	68	54	64
Days Payable	82	77	91	69	70	106	80	79
Cash Conversion Cycle	-10	-0	21	21	43	10	17	23
Working Capital Days	8	21	33	19	56	47	94	108
ROCE %		13%	10%	17%	12%	13%	10%	13%

Kirloskar Oil Engines Ltd Financial Efficiency Indicators Chart

Kirloskar Oil Engines Ltd Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	59.44%	59.44%	59.44%	59.44%	59.44%	59.43%	41.25%	41.23%	41.23%	41.22%	41.21%	41.18%
FIIs	6.38%	1.33%	1.04%	1.02%	2.64%	3.60%	6.04%	6.17%	7.79%	9.06%	9.77%	9.98%
DIIs	13.37%	16.91%	16.70%	16.81%	13.55%	14.66%	27.95%	28.57%	24.28%	24.37%	25.17%	25.42%
Public	20.81%	22.32%	22.82%	22.73%	24.38%	22.31%	24.76%	24.03%	26.69%	25.36%	23.86%	23.40%
No. of Shareholders	46,208	50,140	52,717	52,669	57,254	53,852	56,261	55,394	72,798	68,891	77,565	1,07,323

Kirloskar Oil Engines Ltd Shareholding Pattern Chart

No. of Kirloskar Oil Engines Ltd Shareholders

Kirloskar Oil Engines Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Franklin India Flexi Cap Fund	3,900,000	1.78	212.04	3,900,000	2024-07-24	0%
Nippon India Small Cap Fund	3,571,429	0.52	194.18	3,900,000	2024-07-24	-8.42%
HSBC Value Fund	2,762,836	1.62	150.22	3,900,000	2024-07-24	-29.16%
DSP Small Cap Fund	2,658,334	1.22	144.53	3,900,000	2024-07-24	-31.84%
Franklin India Smaller Companies Fund	2,108,245	1.18	114.63	3,900,000	2024-07-24	-45.94%
Franklin India Taxshield	1,800,000	1.87	97.87	3,900,000	2024-07-24	-53.85%
Franklin India Opportunities Fund	1,257,831	4.59	68.39	3,900,000	2024-07-24	-67.75%
DSP Tiger Fund	1,217,141	2.68	66.18	3,900,000	2024-07-24	-68.79%
Franklin Build India Fund	1,119,847	3.91	60.89	3,900,000	2024-07-24	-71.29%
HSBC Multi Cap Fund	782,795	2.39	42.56	3,900,000	2024-07-24	-79.93%

Kirloskar Oil Engines Ltd ROCE Trend

Kirloskar Oil Engines Ltd EPS Trend

Kirloskar Oil Engines Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	30.50	22.98	12.07	13.48	12.81
Diluted EPS (Rs.)	30.46	22.88	12.07	13.48	12.81
Cash EPS (Rs.)	38.44	30.05	18.80	19.46	19.03
Book Value[Excl.RevalReserv]/Share (Rs.)	183.50	159.14	143.96	132.93	120.69
Book Value[Incl.RevalReserv]/Share (Rs.)	183.50	159.14	143.96	132.93	120.69
Revenue From Operations / Share (Rs.)	406.92	347.07	278.15	227.95	233.71
PBDIT / Share (Rs.)	72.87	52.66	30.35	28.50	22.81
PBIT / Share (Rs.)	64.67	45.43	23.35	22.70	16.77
PBT / Share (Rs.)	40.97	30.93	16.01	18.65	16.93
Net Profit / Share (Rs.)	30.24	22.82	11.79	13.65	12.99
NP After MI And SOA / Share (Rs.)	30.48	22.96	12.07	13.48	12.81
PBDIT Margin (%)	17.90	15.17	10.91	12.50	9.75
PBIT Margin (%)	15.89	13.08	8.39	9.95	7.17
PBT Margin (%)	10.06	8.91	5.75	8.18	7.24
Net Profit Margin (%)	7.43	6.57	4.24	5.98	5.55
NP After MI And SOA Margin (%)	7.49	6.61	4.33	5.91	5.47
Return on Networth / Equity (%)	16.51	14.43	8.38	10.14	10.61
Return on Capital Employeed (%)	19.81	15.65	10.39	12.87	12.03
Return On Assets (%)	5.33	4.94	3.46	5.12	6.70
Long Term Debt / Equity (X)	0.73	0.78	0.51	0.21	0.03
Total Debt / Equity (X)	1.54	1.40	0.93	0.35	0.08
Asset Turnover Ratio (%)	0.78	0.98	0.96	0.96	1.14
Current Ratio (X)	1.05	1.36	1.54	1.83	2.25
Quick Ratio (X)	0.86	1.14	1.33	1.53	1.70
Inventory Turnover Ratio (X)	4.60	4.76	4.57	3.51	4.27
Dividend Payout Ratio (NP) (%)	8.19	10.88	33.14	11.12	31.23
Dividend Payout Ratio (CP) (%)	6.46	8.27	20.97	7.77	21.22
Earning Retention Ratio (%)	91.81	89.12	66.86	88.88	68.77
Cash Earning Retention Ratio (%)	93.54	91.73	79.03	92.23	78.78
Interest Coverage Ratio (X)	3.22	3.63	4.14	8.22	23.21
Interest Coverage Ratio (Post Tax) (X)	2.38	2.57	2.61	5.11	13.06
Enterprise Value (Cr.)	16058.09	8640.88	3691.55	2797.80	1264.79
EV / Net Operating Revenue (X)	2.72	1.72	0.91	0.84	0.37
EV / EBITDA (X)	15.20	11.34	8.41	6.79	3.84
MarketCap / Net Operating Revenue (X)	2.11	1.13	0.47	0.71	0.37
Retention Ratios (%)	91.80	89.11	66.85	88.87	68.76
Price / BV (X)	4.65	2.47	0.91	1.23	0.72
Price / Net Operating Revenue (X)	2.11	1.13	0.47	0.71	0.37
EarningsYield	0.03	0.05	0.09	0.08	0.14

Kirloskar Oil Engines Ltd Profitability Ratios (%)

Kirloskar Oil Engines Ltd Liquidity Ratios

Kirloskar Oil Engines Ltd Liquidity Ratios (%)

Kirloskar Oil Engines Ltd Interest Coverage Ratios (%)

Kirloskar Oil Engines Ltd Valuation Ratios

Fair Value

Fair Value: 1,316.22

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: 8.06% compared to the current price 1218

Intrinsic Value: 1,512.88

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: 24.21% compared to the current price 1218

Last 5 Year EPS CAGR: 14.94%

*Investments are subject to market risks

Strength and Weakness of Kirloskar Oil Engines Ltd Stock

Strength	Weakness
The company has higher reserves (1,867.11 cr) compared to borrowings (1,182.22 cr), indicating strong financial stability. The company has shown consistent growth in sales (3.33 cr) and profit (299.33 cr) over the years.	The stock has a low average ROCE of 11.00%, which may not be favorable. The stock has a high average Working Capital Days of 48.25, which may not be favorable. The stock has a high average Cash Conversion Cycle of 15.63, which may not be favorable.

FAQ

What is the latest fair value of Kirloskar Oil Engines Ltd?

The latest fair value of Kirloskar Oil Engines Ltd is ₹1316.22.

What is the Market Cap of Kirloskar Oil Engines Ltd?

The Market Cap of Kirloskar Oil Engines Ltd is 17,629 Cr..

What is the current Stock Price of Kirloskar Oil Engines Ltd as on 27 July 2024?

The current stock price of Kirloskar Oil Engines Ltd as on 27 July 2024 is 1,218.

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

In FY 2024, the High / Low of Kirloskar Oil Engines Ltd stocks is 1,450/414.

What is the Stock P/E of Kirloskar Oil Engines Ltd?

The Stock P/E of Kirloskar Oil Engines Ltd is 40.0.

What is the Book Value of Kirloskar Oil Engines Ltd?

The Book Value of Kirloskar Oil Engines Ltd is 185.

What is the Dividend Yield of Kirloskar Oil Engines Ltd?

The Dividend Yield of Kirloskar Oil Engines Ltd is 0.49 %.

What is the ROCE of Kirloskar Oil Engines Ltd?

The ROCE of Kirloskar Oil Engines Ltd is 15.0 %.

What is the ROE of Kirloskar Oil Engines Ltd?

The ROE of Kirloskar Oil Engines Ltd is 17.7 %.

What is the Face Value of Kirloskar Oil Engines Ltd?

The Face Value of Kirloskar Oil Engines Ltd is 2.00.