Kirloskar Oil Engines reports highest-ever quarterly, annual top line on robust market demand

In the fourth quarter of FY24, Kirloskar Oil Engines Limited (KOEL) reported a 21 per cent year-on-year increase in net sales, reaching ₹1,378 crore as compared with ₹1,141 crore in the same period last year.

The company’s EBITDA saw a significant growth of 38 per cent standing at ₹178 crore, while the EBITDA margin improved to 12.8 per cent from 11.2 per cent in Q4 FY23. Net profit for the quarter stood at ₹118 crore, reflecting a 26 per cent gain year-on-year.

• Also read: Kirloskar Oil Engines launches CPCB IV+ compliant gensets, shares up

For the full year FY24, KOEL reported a robust performance with net sales increasing 18 per cent year-on-year to ₹4,806 crore compared to ₹4,073 crore in FY23. The company’s EBITDA grew 26 per cent to ₹578 crore, with an EBITDA margin of 11.9 per cent. Net profit for FY24 stood at ₹375 crore, a 26 per cent rise over FY23.

KOEL also achieved a significant milestone in FY24, with export revenues crossing the ₹500 crore mark for the first time. The company’s consolidated financial performance for Q4 FY24 and FY24 also showed strong growth, with revenue from operations increasing 20 per cent and 17 per cent respectively, and net profit rising 23 per cent and 30 per cent respectively.

Commenting on the Q4 and full-year results, Gauri Kirloskar, Managing Director, Kirloskar Oil Engines, said “This quarter and the entire year have been exceptionally noteworthy for Kirloskar Oil Engines. We achieved our highest-ever quarterly and yearly revenue figures, surpassing ₹500 crore in international sales for the first time”.

• Also read: KOEL reports a standalone Q2 revenue up by 5% Y-o-Y 

She added, “I firmly attribute this success to the relentless efforts of our teams, fueled by robust market demand. This marks the beginning of our ambitious journey towards becoming a technology-driven leader in the power and energy systems.”

Kirloskar said, “From a business perspective, our CPCB IV+ products have experienced good traction, alongside the encouraging response for the newly introduced Optiprime range. Our B2B segment growth was backed by strong demand in key sectors such as construction, infrastructure, and railways. Meanwhile, our efforts focused to enhance profitability in the B2C segment have yielded substantial improvements in segment PBIT compared to the previous year.”

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