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Dossier · KIRLOSKAR FERROUS IND LTD · 28 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
KIRLOSKAR FERROUS IND LTD NSE: KIRLFER · BSE: 500245
Produces pig iron, grey iron castings, seamless steel tubes, and steel from an integrated asset base that includes captive iron ore mining, blast furnaces, foundries, tube plants and a renewable energy build-out. FY26 revenue was ₹6,888.57 crore, up about 5% year-on-year, with three reported segments — Casting Segment (₹1,121.42 crore revenue, ₹148.77 crore EBIT), Tube Segment (₹631.03 crore revenue, ₹37.27 crore EBIT) and Steel Segment (₹421.01 crore revenue, ₹11.83 crore EBIT). Pig iron is sold externally as well as consumed internally and, per the FY26 BRSR, contributed 28.13% of revenue, with seamless tubes at 30.92% and grey iron castings at 27.24%. Castings supply tractor, automotive, commercial vehicle and earthmoving OEMs; seamless tubes supply oil & gas and general engineering customers including a heavy-tube order from ONGC. Pig iron is sold to foundries and steelmakers domestically and at international reference prices of $475/MT. FY26 casting production rose 16% to 1,66,000 MT and seamless tube output rose 12% to about 1,88,700 MT; the Baramati tube plant is being expanded from 2,30,000 MT to a 4 lakh ton target. The largest cost line is raw materials at ₹3,864.17 crore or 56.1% of revenue. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Casting Segment, Tube Segment, Steel Segment, Pig iron (28%), Seamless steel tubes (31%). Cyclical, asset-heavy, vertically integrated ferrous metals producer
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
3,748
6,417
6,146
6,564
6,889
EBITDA (ex other income)
643
836
793
756
827
margin %
17.2
13.0
12.9
11.5
12.0
Owners' profit
0
395
238
294
358
EPS, as reported (₹)
25.06
28.46
17.11
17.87
21.71
ROE % · ROCE %
11.4 · 17.1
14.5 · 19.8
9.2 · 14.3
8.6 · 13.5
9.6 · 14.6
Debt / equity (x)
0.43
0.32
0.38
0.37
0.28
Cash from operations
365
794
563
655
942
Capex
(431)
(481)
(534)
(485)
(448)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · KIRLOSKAR FERROUS IND LTD · 28 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Revenue
1,554
1,666
1,608
1,737
1,698
1,755
1,618
1,817
Profit before tax
99
108
79
124
130
120
77
170
Net profit
70
78
54
92
95
86
53
123
EPS (₹)
4.24
4.72
3.30
5.61
5.78
5.24
3.23
7.47
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
Casting Segment
4,279
51.3
Tube Segment
2,318
27.8
Steel Segment
1,697
20.4
Unallocated Total
41
0.5
Total, before eliminations
8,334
100.0
Source: the filed segment block, four quarters summed.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
20.8
13.3
16 of 22
29%
P/B
2.0
2.0
12 of 21
45%
ROCE
11.7
8.1
9 of 23
64%
ROE
9.6
7.6
9 of 21
60%
Debt / Equity
0.3
0.3
10 of 21
55%
EBITDA margin
14.8
14.0
11 of 22
52%
Revenue growth
4.6
10.1
14 of 22
38%
Profit growth
33.3
34.8
12 of 22
48%
Market cap
7455
2158
10 of 24
61%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · KIRLOSKAR FERROUS IND LTD · 28 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
23 Oct 2026 · Board to approve September 2026 quarter and half-year results
results
low
—
—
17 Oct 2026 · Operations resume at Hiriyur Mini Blast Furnace
capex operations
high
—
—
16 Oct 2026 · Notice to members on special window for physical share dematerialisation
compliance
minimal
—
—
14 Oct 2026 · Filing of dematerialisation certificate under SEBI Regulation 74(5)
compliance
minimal
—
—
7 Oct 2026 · Postal ballot notice for appointment of Joint Managing Director
compliance
minimal
—
—
6 Oct 2026 · Postal ballot to appoint new Joint Managing Director
board shareholder meetings
low
—
—
6 Oct 2026 · Postal ballot to appoint Joint Managing Director and approve his remuneration
board shareholder meetings
medium
—
—
1 Oct 2026 · Independent Director retires per 2024 AGM resolution
management changes
medium
—
—
1 Oct 2026 · Temporary suspension of Hiriyur Mini Blast Furnace for maintenance
capex operations
high
—
—
28 Sept 2026 · Trading Window closure from 1 Oct to 3 Nov 2026
compliance
minimal
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
