KIRLOSKAR OIL ENG LTD

Makes diesel engines, gensets and pumps, earning the bulk of its money from business-to-business (B2B) customers in power generation, industrial applications and construction equipment. In FY26, the B2B segment contributed 73.8% of segment revenue at Rs 5,685.81 crore, with EBIT of Rs 592.02 crore. The B2C segment (now housed in subsidiary KOEL Fluid Dynamics following a hive-off in October 2025) contributed 14.8% at Rs 1,138.53 crore, selling products such as pumps to retail and farm customers. Financial services, run through subsidiary Arka Fincap, contributed 11.4% at Rs 876.67 crore from lending to small businesses and consumers. The company sold over 50,000 diesel gensets in FY26, growing 41% against an 18% industry growth, and ranks among the top 10 global Powergen manufacturers by volume. International gross sales crossed Rs 1,000 crore, up 37% YoY, and a new Netherlands subsidiary is being set up for gas turbines, transformers and energy storage. A Kagal capacity expansion of Rs 1,400 crore is underway over two years to add 20,000 high-horsepower engines, with a further Rs 700 crore capex for 50,000 engines coming online by April 2027; an Arka Fincap branch network expanded from 34 to 137 in FY26 with GNPA at 1.2% and NNPA at 0.3%.