Kirloskar Brothers (500241) Q2 24/25 earnings summary

Executive summary

• Consolidated revenues grew 13.4% year-over-year to ₹1,036 crores in Q2 FY2025 and 14% to ₹2,067 crores for H1 FY2025.

• EBITDA for Q2 FY25 rose 61% year-over-year to ₹156 crores, with margin expansion to 15.1%; PAT increased 90% year-over-year to ₹97 crores.

• Standalone and consolidated unaudited financial results for the quarter and half-year ended 30 September 2024 were reviewed and approved by the Board on 29 October 2024.

• Robust order book and operational efficiency improvements support continued growth and strong revenue visibility.

Financial highlights

• Q2 FY2025 consolidated revenue: ₹1,036 crores, up 13.4% year-over-year; H1 FY2025 consolidated revenue: ₹2,067 crores, up 14%.

• Q2 EBITDA: ₹156 crores, up 61% year-over-year; margin at 15.1%, up 415–450 bps.

• Q2 PAT: ₹97 crores, up 90% year-over-year; H1 PAT: ₹162 crores, up 41.8%.

• Q2 FY25 EPS at 12.1, up from 6.4 year-over-year; H1 FY25 EPS at 20.3.

• Cash and cash equivalents at the end of H1 FY25 were Rs. 346.7 crores, up from Rs. 146 crores in H1 FY24.

Outlook and guidance

• Double-digit revenue growth guidance for FY2025 maintained for standalone business.

• Margin levels are considered sustainable due to pricing power and cost controls.

• Focus on expanding value-added products and subscription services, especially in international subsidiaries.

• Continued reduction in EPC business exposure, with increased emphasis on services and higher-margin products.

• Operational efficiency improvements expected to continue.