Kirloskar Oil Engines Limited (KOEL), a prominent manufacturer of internal combustion engines, agricultural equipment, and generator sets, with a substantial international presence, announced its unaudited financial results for the quarter ending June 30, 2024.
For Q1 FY25, KOEL’s standalone financial performance showed net sales of ₹1,334 crore, up from ₹1,256 crore in Q1 FY24, reflecting a 6 per cent year-on-year increase. EBITDA for Q1 FY25 was ₹174 crore, compared to ₹162 crore in Q1 FY24, indicating a 7 per cent increase year-on-year.
The EBITDA margin was slightly higher at 12.9 per cent for Q1 FY25, compared to 12.8 per cent in the same quarter of the previous year. Net profit for Q1 FY25 stood at ₹117 crore, up from ₹109 crore in Q1 FY24, marking a 7 per cent year-on-year increase.
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The company reported cash and cash equivalents of ₹410 crore, net of debt, which includes treasury investments and excludes unclaimed dividends.
On a consolidated basis, KOEL reported revenue from operations of ₹1,636 crore for Q1 FY25, up from ₹1,543 crore in Q1 FY24, reflecting a 6 per cent year-on-year increase. The net profit for Q1 FY25 was ₹133 crore, compared to ₹131 crore in Q1 FY24, marking a 1 per cent year-on-year increase.
Commenting on the results, Gauri Kirloskar, Managing Director of Kirloskar Oil Engines, said, “We have had a good start to the year with the highest-ever Q1 numbers for KOEL standalone. The top-line growth of 6 per cent is on a high base, as we had a pre-buy in Q1 FY24, and if we exclude the pre-buy effect, the top-line growth is 18 per cent. The B2B business grew 5 per cent-year-on-year, and the B2C business also witnessed double-digit growth of 14 per cent year-on-year. Exports, at ₹112 crore for the quarter, grew by 15 per cent year-on-year”.
“As we head into the upcoming quarter with the full implementation of CPCB IV+ emission norms, our outlook remains cautiously optimistic until we observe how the market adapts to the CPCB IV+ products across various segments,” she added.