Kirloskar Pneumatic (505283) Q4 25/26 earnings summary

Executive summary

• FY26 total income was INR 1,786.3 crore, up 8% YoY; PBT before exceptional items rose 25% to INR 356.3 crore.

• Record FY26 order bookings exceeded INR 2,000 crore; the April 1, 2026 order book was INR 1,863 crore, up 15% YoY.

• Long-term growth target remains 20%+ for revenue and profit; management described FY26 margins as exceptional.

Financial highlights

• FY26 revenue from operations was INR 1,759.2 crore and total income INR 1,786.3 crore, versus INR 1,628.6 crore and INR 1,650.7 crore, respectively.

• FY26 PBT before exceptional items was INR 356.3 crore versus INR 284.5 crore; PBT after exceptional items was INR 342.2 crore.

• FY26 standalone and consolidated net profit was INR 258.4 crore and INR 254.3 crore, respectively; basic EPS was INR 39.80 and INR 39.45.

• FY26 EBITDA was INR 388 crore, 21.7% of total income, versus INR 313 crore and 19.0% in FY25; FY22–FY26 EBITDA CAGR was 27%.

• Q4 FY26 standalone revenue was INR 705.7 crore and net profit INR 143.9 crore; Q4 consolidated revenue was INR 711.8 crore and net profit INR 143.7 crore.

Outlook and guidance

• Sustainable EBITDA margin guidance is 18%–20%; management said 21% could be achieved but cautioned against extrapolating exceptional quarters.

• New products are targeted to contribute 10%–15% of sales; equipment business is intended to reach 20%–25% of business over time.

• Zephyros, a PLI-approved ammonia-refrigerant air-conditioning package, is planned for commercialization in Q1 FY27; stated energy savings are 20%–30%.

• Equipment execution typically takes 4–12 weeks, while large packages take 6–8 months; product mix is expected to shorten the overall execution cycle.

• FY27 outlook is supported by active proposals and expected growth across core markets.