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← CockpitCompetitor Analysis › KIRLOSIND.NS Kirloskar Industries LimitedOpen in the cockpit ↗

Kirloskar Industries LimitedKIRLOSIND.NSCompetitor analysis, valuation and peers

India · INR·Metal & Mining›Steel
Momentum neutral 49
Mkt cap
$381M
US dollars, full cap
Free float
25%
of shares outstanding
$/day
$208,533
20-day average traded
Fwd P/E
73.3×
forward earnings
ROIC−WACC
-8.9 pp
WACC 14.0%
Hurdle
-24 pp
Req g minus delivered
Close · INR₹3,417
1D+0.4%
1W+8.6%
1M-3.2%
3M-9.3%
6M+1.8%
YTD+7.6%
1Y-10.5%
ATR %4.2%
Beta1.38
52w lowhigh25.3% off high

What Kirloskar Industries does

Employees: 47

Kirloskar Industries at a glance

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).

Relative performance

10012011 May 202611 Aug 20266 Nov 2026KIRLOSIND.NS 101Peer median 95
Six months, rebased to 100: Kirloskar Industries against the median of its 20 peers (local-currency closes).

Kirloskar Industries financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
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 flown/a₹3.40B-₹58.0M-₹133M-₹174M
Capital expendituren/a₹4.51B₹5.09B₹4.99B₹4.82B
Total debtn/a₹11.1B₹12.8B₹12.3B₹9.72B

Quarterly statements and history in the cockpit →

Kirloskar Industries competitor charts

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.

Performance: 6-month against 1-month return

-40%-20%0%+20%-20%-10%0%VENUSPIPESSTEELCASVSSLKSL603878COCKERILLTUB0163805461058154493008812031058650203410009072312010RATNAVEERKIRLOSIND.NS6-month return →1-month return →
Up and to the right = strong over both horizons. Kirloskar Industries is the large dot.

Fundamentals: revenue growth against valuation

-20%-10%0%+10%+20%0×25×50×75×VENUSPIPESVSSL603878TUB0163800581300881203120341000907231RATNAVEERKIRLOSIND.NSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Kirloskar Industries is the large dot.

Capital: growth delivered against growth the price implies

0%+20%0%20%STEELCASKSL603878COCKERILLTUB016380203160331572312010KIRLOSIND.NSGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Kirloskar Industries is the large dot.

Kirloskar Industries competitors and peer comparison

How Kirloskar Industries compares with its peers

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.

Kirloskar Industries against its 20 peers (data as of 6 Nov 2026)
MeasureKIRLOSIND.NSPeer medianRank 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 margin8.1%3.5%6th highest of 21
Forward P/E73.3×20.3×2nd 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 ppleast demanding of 11
ROIC minus cost of capital-8.9 pp-3.6 pp2nd lowest of 20
EV / EBITDA4.3×14.7×cheapest of 14
Net debt / EBITDA1.0×1.3×8th least indebted of 18

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Kirloskar Industries KIRLOSIND.NSIndia$381M+2%+4%8%73.3×3.2%+27.5%
Venus Pipes & Tubes VENUSPIPES.NSIndia$377M+21%+22%14%25.9×n/an/a
Steelcast STEELCAS.NSIndia$387M+23%+9%24%n/a30.2%+22.2%
Vardhman Special Steels VSSL.NSIndia$371M+31%+15%11%25.5×n/an/a
Kalyani Steels KSL.NSIndia$392M-5%-5%17%n/a19.1%+9.4%
Jiangsu Wujin Stainless Steel Pipe 603878.SSChina$360M-46%-9%-4%22.5×6.6%-0.6%
John Cockerill India COCKERILL.NSIndia$358M+23%+174%-1%n/a21.5%+0.4%
Tubacex TUB.MCSpain$358M-6%-7%-2%76.4×15.7%+9.3%
Kg Dongbusteel 016380.KSSouth Korea$354M-32%+6%2%3.6×-14.9%+6.4%
Chubu Steel Plate 5461.TJapan$353M-3%+19%0%n/an/an/a
China Oriental 0581.HKHong Kong$413M-31%0%2%9.2×n/an/a
Osaka Steel 5449.TJapan$416M-11%-17%-2%n/an/an/a
Shengtak New Material 300881.SZChina$416M-50%+9%4%20.8×n/an/a
Hsin Kuang Steel 2031.TWTaiwan$418M+6%-3%8%10.6×1.3%+11.3%
SeAH 058650.KSSouth Korea$346M-27%+16%4%n/an/an/a
YC Inox 2034.TWTaiwan$344M+4%-20%3%32.6×n/an/a
SK oceanplant 100090.KSSouth Korea$430M-62%-5%8%15.7×n/an/a
Liaoning Fu-An Heavy Industry 603315.SSChina$439M-46%-4%3%n/a31.1%+7.5%
Topy Industries 7231.TJapan$440M+1%+2%2%9.0×6.0%+5.8%
Chun Yuan Steel Industry 2010.TWTaiwan$445M-8%+2%8%n/a-11.7%+4.7%
Ratnaveer Precision Engineering RATNAVEER.NSIndia$325M+106%+21%8%19.9×n/an/a

Questions

Which companies are Kirloskar Industries's closest peers?
The cockpit's peer set: Venus Pipes & Tubes (VENUSPIPES.NS), Steelcast (STEELCAS.NS), Vardhman Special Steels (VSSL.NS), Kalyani Steels (KSL.NS), Jiangsu Wujin Stainless Steel Pipe (603878.SS), John Cockerill India (COCKERILL.NS), Tubacex (TUB.MC), Kg Dongbusteel (016380.KS).
Is Kirloskar Industries expensive compared with its peers?
On forward p/e it trades at 73.3× against a peer median of 20.3×, 2nd most expensive of 13 in its peer set. 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.
How has Kirloskar Industries stock performed?
Over six months to 6 Nov 2026 the shares returned +1.8% against -5.7% for the median peer; over one year -10.5%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.