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Indian maker of diesel/gas engines and generator sets (gensets) for industrial, agricultural and power-backup use.
Indian maker of diesel/gas engines and generator sets (gensets) for industrial, agricultural and power-backup use.
Sells diesel engines both to other equipment makers and, as gensets, through dealers to end buyers, so demand tracks capital spending on power backup; the installed base brings repeat spare-parts and service sales. It belongs to the Kirloskar family group of Pune companies.
Moat: narrow (brand, distribution). Long-standing Kirloskar brand and dealer network in India, but Cummins India has stronger genset market leadership.
Headquarters: Pune, India · Founded: 1946 · Employees: 4,673
Size Kirloskar Oil Engines (KIRLOSENG.NS) is an India Industrials company (Electrical Products) with a market value of $2.44B, the 331st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,582 on 6 Nov 2026.
Performance Over six months the shares fell 8.4%, against -23.4% for the median peer and 0.0% for the India market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 22.7% over the last twelve months (peer median +22.3%); the operating margin is 15.2% (peer median 10.6%).
Valuation It trades at 36.6× forward earnings against a peer median of 25.3× (5th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +7 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 9.4 points above its cost of capital (15.9% WACC).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹79.4B | ₹76.8B | ₹63.1B | ₹58.8B | ₹50.0B |
| Revenue growth | — | +22% | +7% | +17% | — |
| Gross profit | ₹25.0B | ₹19.5B | ₹16.2B | ₹14.3B | ₹10.8B |
| EBITDA | ₹13.9B | ₹14.1B | ₹11.8B | ₹10.2B | ₹7.26B |
| Net income | ₹5.46B | ₹5.74B | ₹4.89B | ₹4.42B | ₹3.32B |
| Free cash flow | n/a | ₹6.09B | -₹10.4B | -₹8.44B | -₹10.7B |
| Capital expenditure | n/a | ₹3.40B | ₹3.08B | ₹3.95B | ₹1.61B |
| Total debt | n/a | ₹53.7B | ₹58.2B | ₹41.4B | ₹32.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Kirloskar Oil Engines KIRLOSENG.NS | $2.44B | -8% | +23% | 15% | 36.6× | 25.3% |
| Cummins India CUMMINSIND.NS | $11.9B | -25% | +15% | 19% | 43.5× | 39.5% |
| Mahindra & Mahindra M&M.NS | $43.1B | -2% | +26% | 15% | 24.0× | 13.6% |
| Greaves Cotton GREAVESCOT.NS | $503M | +22% | +28% | 3% | 56.8× | 41.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KIRLOSENG.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.1% | -15.3% | 5th lowest of 21 |
| 6-month return | -8.4% | -23.4% | 7th highest of 20 |
| Distance from 52-week high | -41.8% | -52.7% | 6th highest of 21 |
| Revenue growth (TTM) | +22.7% | +22.3% | 11th highest of 21 |
| Operating margin | 15.2% | 10.6% | 8th highest of 21 |
| Forward P/E | 36.6× | 25.3× | 5th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 25.3% | 15.1% | 3rd most demanding of 14 |
| Growth delivered (Del g) | +18.6% | +12.3% | 5th highest of 14 |
| Hurdle (Req g minus delivered) | +6.7 pp | +5.5 pp | 7th most demanding of 14 |
| ROIC minus cost of capital | +9.4 pp | +0.1 pp | 4th highest of 21 |
| EV / EBITDA | 16.6× | 18.3× | 4th cheapest of 7 |
| Net debt / EBITDA | 2.7× | 0.7× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kirloskar Oil Engines KIRLOSENG.NS | India | $2.44B | -8% | +23% | 15% | 36.6× | 25.3% | +18.6% |
| Tongding Interconnection Information 002491.SZ | China | $2.44B | -15% | +50% | 11% | n/a | n/a | n/a |
| PhiChem 300398.SZ | China | $2.43B | -6% | +15% | 17% | 27.3× | 19.6% | +11.7% |
| HBL Engineering HBLENGINE.NS | India | $2.46B | -1% | +63% | 31% | n/a | 22.6% | +29.4% |
| Shenzhen Kstar Science and Technology 002518.SZ | China | $2.41B | -40% | +21% | 13% | 22.1× | 24.2% | +16.9% |
| Delijia Transmission Technology (Jiangsu) 603092.SS | China | $2.41B | -45% | +45% | 17% | n/a | 7.2% | +20.3% |
| Hangzhou Cable 603618.SS | China | $2.40B | -18% | +18% | 7% | 10.6× | 15.2% | +9.8% |
| Tongling Jingda Special Magnet Wire 600577.SS | China | $2.39B | -45% | +26% | 3% | 20.4× | 9.8% | +14.7% |
| Shenzhen FRD Science & Technology 300602.SZ | China | $2.39B | -23% | +24% | 7% | 25.3× | n/a | n/a |
| Tianhai Auto Electronics 001365.SZ | China | $2.36B | n/a | +28% | 5% | n/a | 6.0% | +24.8% |
| Shenzhen Leadshine Technology 002979.SZ | China | $2.36B | +14% | +44% | 13% | 40.6× | n/a | n/a |
| Diamond Power Infrastructure DIACABS.NS | India | $2.34B | +118% | +109% | 10% | 55.3× | n/a | n/a |
| Jonjee Hi-Tech Industrial and Commercial 600872.SS | China | $2.31B | -2% | +1% | 18% | 21.8× | 10.0% | -3.9% |
| RR Kabel RRKABEL.NS | India | $2.30B | 0% | +45% | 8% | 28.5× | n/a | n/a |
| Sanil Electric 062040.KS | South Korea | $2.62B | -56% | +29% | 36% | 17.1× | 15.1% | +50.8% |
| Luster LightTech 688400.SS | China | $2.63B | -37% | +10% | 0% | 28.1× | 56.8% | +10.7% |
| Shenzhen Honor Electronic 300870.SZ | China | $2.26B | -66% | +10% | 3% | 58.9× | n/a | n/a |
| Baoding Tianwei Baobian Electric 600550.SS | China | $2.65B | -36% | +13% | 4% | n/a | 45.5% | +7.1% |
| Huaming Power Equipment 002270.SZ | China | $2.66B | -19% | +7% | 32% | 22.3× | 5.9% | +12.3% |
| GS Yuasa 6674.T | Japan | $2.67B | -33% | +6% | 10% | 9.9× | n/a | n/a |
| Weihai Guangwei Composites 300699.SZ | China | $2.68B | -35% | +12% | 16% | 45.8× | 13.8% | +6.2% |