Employees: 47
Size Kirloskar Industries (KIRLOSIND.NS) is an India Materials company (Steel) with a market value of $381M, the 960th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹3,417 on 6 Nov 2026.
Performance Over six months the shares gained 1.8%, against -5.7% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 3.8% over the last twelve months (peer median +2.1%); the operating margin is 8.1% (peer median 3.5%).
Valuation It trades at 73.3× forward earnings against a peer median of 20.3× (2nd most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +28%, so the hurdle is -24 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.9 points below its cost of capital (14.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹70.1B | ₹69.3B | ₹66.0B | ₹63.3B | ₹64.5B |
| Revenue growth | — | +5% | +4% | -2% | — |
| Gross profit | ₹24.8B | ₹9.46B | ₹8.60B | ₹9.89B | ₹10.2B |
| EBITDA | ₹8.43B | ₹8.83B | ₹8.03B | ₹9.31B | ₹8.93B |
| Net income | ₹1.49B | ₹2.28B | ₹1.49B | ₹2.00B | ₹2.18B |
| Free cash flow | n/a | ₹3.40B | -₹58.0M | -₹133M | -₹174M |
| Capital expenditure | n/a | ₹4.51B | ₹5.09B | ₹4.99B | ₹4.82B |
| Total debt | n/a | ₹11.1B | ₹12.8B | ₹12.3B | ₹9.72B |
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| Measure | KIRLOSIND.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | -8.7% | 5th highest of 21 |
| 6-month return | +1.8% | -5.7% | 8th highest of 21 |
| Distance from 52-week high | -25.3% | -25.8% | 11th highest of 21 |
| Revenue growth (TTM) | +3.8% | +2.1% | 10th highest of 21 |
| Operating margin | 8.1% | 3.5% | 6th highest of 21 |
| Forward P/E | 73.3× | 20.3× | 2nd most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 3.2% | 11.2% | 4th least demanding of 11 |
| Growth delivered (Del g) | +27.5% | +7.0% | highest of 11 |
| Hurdle (Req g minus delivered) | -24.3 pp | +6.8 pp | least demanding of 11 |
| ROIC minus cost of capital | -8.9 pp | -3.6 pp | 2nd lowest of 20 |
| EV / EBITDA | 4.3× | 14.7× | cheapest of 14 |
| Net debt / EBITDA | 1.0× | 1.3× | 8th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kirloskar Industries KIRLOSIND.NS | India | $381M | +2% | +4% | 8% | 73.3× | 3.2% | +27.5% |
| Venus Pipes & Tubes VENUSPIPES.NS | India | $377M | +21% | +22% | 14% | 25.9× | n/a | n/a |
| Steelcast STEELCAS.NS | India | $387M | +23% | +9% | 24% | n/a | 30.2% | +22.2% |
| Vardhman Special Steels VSSL.NS | India | $371M | +31% | +15% | 11% | 25.5× | n/a | n/a |
| Kalyani Steels KSL.NS | India | $392M | -5% | -5% | 17% | n/a | 19.1% | +9.4% |
| Jiangsu Wujin Stainless Steel Pipe 603878.SS | China | $360M | -46% | -9% | -4% | 22.5× | 6.6% | -0.6% |
| John Cockerill India COCKERILL.NS | India | $358M | +23% | +174% | -1% | n/a | 21.5% | +0.4% |
| Tubacex TUB.MC | Spain | $358M | -6% | -7% | -2% | 76.4× | 15.7% | +9.3% |
| Kg Dongbusteel 016380.KS | South Korea | $354M | -32% | +6% | 2% | 3.6× | -14.9% | +6.4% |
| Chubu Steel Plate 5461.T | Japan | $353M | -3% | +19% | 0% | n/a | n/a | n/a |
| China Oriental 0581.HK | Hong Kong | $413M | -31% | 0% | 2% | 9.2× | n/a | n/a |
| Osaka Steel 5449.T | Japan | $416M | -11% | -17% | -2% | n/a | n/a | n/a |
| Shengtak New Material 300881.SZ | China | $416M | -50% | +9% | 4% | 20.8× | n/a | n/a |
| Hsin Kuang Steel 2031.TW | Taiwan | $418M | +6% | -3% | 8% | 10.6× | 1.3% | +11.3% |
| SeAH 058650.KS | South Korea | $346M | -27% | +16% | 4% | n/a | n/a | n/a |
| YC Inox 2034.TW | Taiwan | $344M | +4% | -20% | 3% | 32.6× | n/a | n/a |
| SK oceanplant 100090.KS | South Korea | $430M | -62% | -5% | 8% | 15.7× | n/a | n/a |
| Liaoning Fu-An Heavy Industry 603315.SS | China | $439M | -46% | -4% | 3% | n/a | 31.1% | +7.5% |
| Topy Industries 7231.T | Japan | $440M | +1% | +2% | 2% | 9.0× | 6.0% | +5.8% |
| Chun Yuan Steel Industry 2010.TW | Taiwan | $445M | -8% | +2% | 8% | n/a | -11.7% | +4.7% |
| Ratnaveer Precision Engineering RATNAVEER.NS | India | $325M | +106% | +21% | 8% | 19.9× | n/a | n/a |