Kirloskar Oil Engines sales double in Q1FY22; Consolidated net profit at Rs32.3cr

KOEL reports a strong first quarter FY22, 103% yoy growth in a standalone net; Standalone net profit at Rs24.5cr.

Aug 11, 2021 04:08 IST India Infoline News Service

Kirloskar Oil Engines Limited (KOEL), a leader in the manufacturing of diesel engines, agricultural equipment, and generator sets with a sizable presence in international markets, announced today its financial results for the first quarter of the financial year FY22 ended June 30, 21.

The company’s consolidated Net Sales stood at Rs809.5cr for Q1FY22 vs Rs415.4cr for Q1FY21; 95% increase yoy. EBITDA at Rs83.5cr for QlFY22 vs Rs10.8cr for Q1FY21; 671% increase yoy. EBITDA margin at 10.2% for Q1FY22 vs 2.6% for Q1FY21. Net Profit at Rs32.3cr for Q1FY22 vs loss of Rs6.7cr for Q1FY21.

On standalone basis, Net Sales stood at Rs639.2cr for Q1FY22 vs Rs314.8cr for Q1FY21; 103% increase yoy. EBITDA at Rs49cr for Q1FY22 vs negative EBITDA of Rs4.4cr for Q1FY21. EBITDA margin at 7.6% for Q1FY22 vs negative EBITDA margin of 1.4% for Q1FY21. Net profit at Rs24.5cr for Q1FY22 vs loss of Rs10.8cr for Q1FY21. Cash and cash equivalents of Rs396.6cr.

Kirloskar Oil Engines Ltd ended at Rs219.20 per piece down by Rs3.6 or 1.62% from its previous closing of Rs222.80 per piece on the BSE.
“Q1FY22 performance has been quite promising especially after the very challenging last year. Standalone sales were at Rs639cr showing 103% growth year on year. Standalone net profit reported at Rs24.5cr. We continue to have good order book amidst the second wave of COVID-19. EBITDA margins were at 7.6% despite the commodity inflation pressure, as we could pass some of it to the customers. Our focus on fixed cost management continues to yield better results. On the business side, BS IV ramp up with the OEMs is in full swing. At KOEL, employee health and safety is of prime importance, we have already vaccinated 90% of our direct and indirect work strength with the first dose,” Sanjeev Nimkar, Managing Director, KOEL, said.

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