Kirloskar Pneumatic (505283) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 started slower than planned amid delayed order finalization, inspections, site readiness and dispatch clearances; gradual recovery is expected in Q2, with a return to plan by Q3.

• Standalone revenue from operations was ₹272.05 crore and PAT was ₹28.1 crore; consolidated PAT was ₹25.3 crore.

• FY26 revenue aspiration remains near ₹2,000 crore, with at least 18% growth targeted and EBITDA margin guidance of 18%–20%; the longer-term ambition is ~20% revenue CAGR and ~20% EBITDA margin.

• New-product scale-up, local manufacturing and lower reliance on imported compressors remain central to growth and resilience.

Financial highlights

• Standalone revenue from operations was ₹272.05 crore vs ₹275.27 crore YoY; total income was ₹280.24 crore vs ₹279.71 crore.

• EBITDA was ₹44.1 crore vs ₹43.7 crore; standalone PBT was ₹36.81 crore vs ₹35.9 crore and PAT was ₹28.1 crore vs ₹26.9 crore.

• Consolidated revenue from operations was ₹2,817 million vs ₹2,753 million; total income was ₹2,901 million vs ₹2,797 million, and PAT was ₹253 million vs ₹269 million.

• Material cost was 47.2% of sales vs 48.9% YoY, reflecting product mix and increased in-house manufacture of select components.

• Q1 orders booked were close to ₹365 crore; the order book rose from ₹1,624 crore on April 1 to ₹1,725 crore on July 1, 2025.

Outlook and guidance

• Q2 FY26 sales target is near ₹500 crore, implying ~10% YoY growth; margins are expected to remain broadly similar to the prior-year quarter.

• FY26 revenue target remains near ₹2,000 crore, with at least 18% growth over the prior year; management expects to catch up gradually in Q2 and return to plan by Q3.

• EBITDA margin guidance remains 18%–20% for FY26, with quarterly movement possible; the longer-term “20-20” ambition is ~20% top-line CAGR and ~20% EBITDA margin.

• Planned FY26 capex of ~₹100 crore remains on track, focused on building manufacturing capabilities.