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Swing Capital

Kirloskar Ferrous Industries Ltd

NSE: KIRLFER BSE: 500245Auto

KFIL, incorporated in 1991, is a part of the Pune-based Kirloskar Group. KFIL manufactures pig iron and ferrous castings such as cylinder blocks, cylinder heads, and transmission parts and different types of housings required by automobile, tractor and diesel engine industries. It is one of the leading players in foundry-grade pig iron manufacturing and ferrous castings in the domestic market.[1]

₹434
52W: ₹336 — ₹618
PE 18.5 · Book ₹228 · +90% vs book
Market Cap₹7,166 Cr
Stock P/E18.5Price to Earnings
ROCE13.8%Return on Capital
ROE10.7%Return on Equity
Div. Yield1.25%Face Value ₹5

Strengths

  • +Company has been maintaining a healthy dividend payout of 21.8%

Weaknesses

  • −Company has a low return on equity of 10.6% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -5.83%

Shareholding Pattern

Promoters50.8%
FIIs1.78%
DIIs12.57%
Public34.84%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters56.44%50.93%▼5.550.91%▼0.050.9%▼0.050.9%50.86%▼0.050.82%▼0.050.8%▼0.0
FIIs1.98%1.86%▼0.11.94%▲0.11.93%▼0.01.91%▼0.01.9%▼0.01.76%▼0.11.78%▲0.0
DIIs12.49%10.5%▼2.010.47%▼0.010.68%▲0.210.7%▲0.011.31%▲0.611.95%▲0.612.57%▲0.6
Public29.1%36.71%▲7.636.69%▼0.036.5%▼0.236.49%▼0.035.93%▼0.635.48%▼0.534.84%▼0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,5451,5321,5541,6671,6091,7361,6851,7281,5901,781
Expenses1,3291,3511,3661,4721,4331,5381,4711,5141,4071,555
Operating Profit216181187195177199214214183226
OPM %14%12%12%12%11%11%13%12%11%13%
Net Profit944476856196969258130
EPS ₹6.753.175.425.163.725.85.825.613.497.88

AI Insights

Revenue Trend

Mar 2026 revenue at ₹6,784Cr, up 3.3% YoY. OPM at 12%.

Debt Position

Borrowings at ₹1,036Cr. Debt-to-equity ratio: 0.28x. Healthy balance sheet.

Capex Cycle

CWIP at ₹293Cr (8% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 12.57% (+1.85pp change). FIIs: 1.78% (+0.08pp change). Promoters hold 50.8%.

Margin & Efficiency

ROCE declining from 17% (Mar 2015) to 14% (Mar 2026). Working capital days: 3.

Valuation

PE 18.5x with 13.8% ROCE. Price is 90% above book value of ₹228. Dividend yield: 1.25%.

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