Kirloskar Industries Limited has informed the Exchange regarding 'update of material subsidiary'.
KIRLOSIND · price
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Kirloskar Industries has shared the Q1 FY26 earnings call transcript of its listed material subsidiary, Kirloskar Ferrous Industries (KFIL). KFIL posted Q1 FY26 sales of Rs. 1,685 crore, up 8.5% YoY, with EBITDA of Rs. 214 crore (up 14%) and PAT of Rs. 96 crore vs Rs. 76 crore last year. The tube segment grew 32% YoY while castings grew 6%; steel production was lower due to a maintenance shutdown. Management guided to better quarters ahead, targeting 14% tube division EBITDA at 2 lakh ton volumes, 1.7 lakh ton casting sales, and plans to double turnover over 3-4 years with Rs. 500-600 crore CAPEX in FY26 and Rs. 700-800 crore for the Koppal steel bloom project. Challenges include Chinese dumping in seamless tubes, falling pig iron prices (down 38% over 2 years), and pending Ford order ramp-up.
Positive read on the subsidiary's operational performance, with double-digit profit growth and explicit forward-looking volume and margin targets. However, pressure on pig iron and steel realisations and Chinese dumping remain near-term headwinds. The transcript adds visibility on growth and capex plans, which is constructive for the parent's holdco value.