Kennametal India (505890) Q2 24/25 earnings summary

Executive summary

• Approved unaudited financial results for the quarter and six months ended December 31, 2023, with no qualifications or adverse remarks from auditors.

• Board appointed Mr. Keith Alan Mudge as Additional Director and Mr. Aditya Kumar Jain as Compliance Officer, and accepted the resignation of Mr. Venugopal Thirumurthy.

Financial highlights

• Revenue from operations for Q2 FY24 was ₹2,708 million, up from ₹2,579 million in the previous quarter but down from ₹2,748 million year-over-year.

• Net profit for Q2 FY24 was ₹249 million, compared to ₹171 million in the previous quarter and ₹219 million in Q2 FY23.

• Earnings per share for Q2 FY24 stood at ₹11.33, up from ₹7.78 in the previous quarter and ₹9.96 in Q2 FY23.

• Total comprehensive income for Q2 FY24 was ₹246 million.

• Cash and cash equivalents increased to ₹1,125 million as of December 31, 2023, from ₹892 million as of June 30, 2023.

Segment performance

• Machining solutions segment revenue for Q2 FY24 was ₹385 million, while hard metal and hard metal products contributed ₹2,323 million.

• Segment results for Q2 FY24: Machining solutions at ₹40 million, hard metal and hard metal products at ₹394 million.

• Total segment profit before tax for Q2 FY24 was ₹334 million.