Kirloskar Pneumatic Company Ltd (KPCL), a major player in the air, refrigeration and gas compression business, announced its financial results for the year ended March 31,  with sales at ₹1,021 crore, a 24 per cent growth over the previous year. PBT at ₹114 crore was up 36 per cent over last year. The board recommended a final dividend of 120 per cent.

Several milestones

“ The company achieved several milestones during the financial year. It crossed ₹1,000 crores in sales; crossed ₹100 crore in PBT; manufactured over 3,100 compressors during the year and crossed ₹100 crore in export order booking. The second half of the fiscal saw the emergence of new challenges in the cost of various inputs, disruption in supplies, and major uncertainty in supplies from Europe and China. Yet in all this, the company was well-positioned to handle the situation based on strong order inflow and an integrated supply chain” KPCL said in a press release. 

The order book as of March 31, , was over ₹1,250 crores compared to ₹925 crore at the beginning of the previous year. Strong and active inquiry pipeline will allow the company to get orders at viable prices and with shorter execution cycles.

The press statement added that the R&D initiatives had a strong thrust. This will enable the company to bring to the market two new products in Q1 - the Khione refrigeration screws for the pharma, food, and dairy industry and the hydro booster compressor for the CNG stations that are off the gas pipeline grid.

The compression business continues to account for over 95 per cent of the company’s revenue and remains the only reporting segment. All other activities have been grouped under other non-reportable segments. 

The company’s operating revenue was at ₹1,021 crore vs ₹823 crore for FY2021 registering 24 per cent increase ∙ EBIT margin improved to 11.2 per cent (10.3). PBT improved 11 per cent to ₹114.1 crore in FY22 compared to 10.1 per cent at ₹83.8 crore FY21. 

Profit After Tax improved to 8.2 per cent at ₹84.9 crore in FY22 compared to ₹63.8 crore (7.7 per cent ) in FY 2021. Basic EPS improved to ₹13.19 compared to ₹9.94 of the previous year. Order book stood at ₹1,250 crore as of April 1, 2022, compared to ₹925 crore on April 1, 2021 representing a growth of about 20 per cent Y-o-Y.