Investor Presentation
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Kinetic Engineering Ltd submitted its Q3 & 9M FY26 investor presentation to BSE. Q3 FY26 net sales rose 32.8% YoY to Rs. 383.7 Mn, with EBITDA turning positive at Rs. 20.2 Mn (5.3% margin) versus a Rs. 15 Mn loss in Q3 FY25, driven by cost control and other income. For 9M FY26, revenue grew 8.7% YoY to Rs. 1,130.1 Mn, but EBITDA stood at just Rs. 16.6 Mn and adjusted PAT remained negative at Rs. -40.7 Mn. The presentation outlines the company's pivot to EVs, including the relaunch of the Kinetic DX electric scooter under subsidiary Kinetic Watts & Volts (KWV), with cumulative EV sales crossing 600 units and a target of ~30 dealerships by March. Promoters have infused Rs. 160 Cr via warrants (issued at Rs. 171 each) and plan an additional Rs. 177 Cr investment to scale the DX platform. Multi-year targets include EBITDA profitability by FY27, expansion into global markets by 2027, and becoming a top-3 player in India's electric scooter market.
The Q3 return to positive EBITDA signals an operational turnaround, and strong promoter capital infusion shows management conviction in the EV pivot. However, 9M FY26 bottom-line remains in the red and the EV business is still in early stages, so execution risk and cash burn in KWV remain key concerns for shareholders.