NSE: YUKEN · BSE: 522108
YUKEN INDIA LIMITED
Manufactures oil hydraulic equipment from a base in Bengaluru, with a related foundry operation that supplies castings. The Hydraulic business generated ₹406.63 crore in FY26, or 81.5% of segment revenue, while the Foundry business contributed ₹88.58 crore (17.7%). Consolidated FY26 revenue stood at ₹462.17 crore with an EBITDA margin of 11.8%. Materials are the largest cost line at 42.5% of revenue, followed by other operating expenses at 28.7% and employee costs at 14.4%; depreciation accounts for 4.6%. Capital expenditure ran at 18% of revenue, indicating a capital-intensive operating model. The promoter is Yuken Kogyo Company Limited of Japan, which also controls Coretec Engineering India Private Limited, a material subsidiary. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hydraulic business (82%), Foundry business (18%), Other Income (1%). Capital- and materials-intensive industrial hydraulics manufacturer with an in-house foundry.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 331 | 372 | 423 | 457 | 462 |
| EBITDA (ex other income) | 34 | 35 | 45 | 55 | 51 |
| margin % | 10.3 | 9.3 | 10.6 | 12.0 | 10.9 |
| Owners' profit | 14 | 10 | 18 | 24 | 14 |
| EPS, as reported (₹) | 11.42 | 7.97 | 14.75 | 18.94 | 10.81 |
| ROE % · ROCE % | 7.2 · 12.9 | 4.8 · 11.4 | 6.7 · 11.7 | 8.2 · 12.5 | 3.9 · 7.8 |
| Debt / equity (x) | 0.58 | 0.59 | 0.28 | 0.29 | 0.28 |
| Cash from operations | 2 | 31 | 32 | 49 | 41 |
| Capex | (37) | (40) | (38) | (55) | (83) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 116 | 107 | 125 | 105 | 113 | 112 | 133 | 134 |
| Profit before tax | 8 | 6 | 9 | 6 | 7 | 2 | 8 | 7 |
| Net profit | 7 | 5 | 8 | 4 | 5 | (1) | 6 | 5 |
| EPS (₹) | 5.40 | 3.46 | 6.03 | 3.12 | 3.82 | (0.38) | 4.28 | 3.84 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Hydraulic business | 407 | 82.0 |
| Foundry business | 89 | 17.9 |
| Other Income | 1 | 0.2 |
| Total, before eliminations | 496 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CUMMINS INDIA LTD | 1,31,418 | 55.5 | 15.51 | 43.2 | 27.9 | 31.8 | 22.7 | 22.0 |
| KIRLOSKAR OIL ENG LTD | 31,306 | 57.3 | 8.76 | 24.7 | 15.7 | 10.9 | 18.5 | 15.8 |
| ELGI EQUIPMENTS LTD | 18,259 | 40.6 | 8.18 | 27.1 | 19.3 | 24.3 | 15.5 | 15.9 |
| KSB LIMITED | 13,551 | 55.2 | 7.98 | — | 5.7 | 6.7 | — | 12.6 |
| KIRLOSKAR BROTHERS LTD | 13,308 | 35.6 | 5.38 | 22.5 | 15.2 | 16.8 | 10.8 | 11.8 |
| INGERSOLL-RAND INDIA LTD | 12,593 | 47.1 | 20.45 | — | 41.6 | 54.7 | — | 26.4 |
| SHAKTI PUMPS (I) LTD | 5,241 | 24.7 | 3.07 | 11.8 | 15.1 | 19.6 | 23.7 | 10.9 |
| GREAVES COTTON LTD. | 4,894 | 48.9 | 3.23 | 20.1 | 2.3 | 5.9 | 18.0 | 6.9 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 97.8 | 44.4 | 15 of 15 | 0% |
| P/B | 4.1 | 5.0 | 5 of 15 | 71% |
| ROCE | 5.3 | 16.9 | 15 of 15 | 0% |
| ROE | 3.9 | 15.2 | 14 of 15 | 7% |
| Debt / Equity | 0.3 | 0.1 | 12 of 15 | 21% |
| EBITDA margin | 12.0 | 15.8 | 11 of 15 | 29% |
| Revenue growth | 28.5 | 17.9 | 4 of 15 | 79% |
| Profit growth | 28.6 | 11.1 | 4 of 15 | 79% |
| Market cap | 1535 | 4894 | 12 of 15 | 21% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Yuken India clarifies on sharp rise in trading volume | regulatory legal | medium | — | — |
| 6 Oct 2026 · Newspaper notice on Whole-Time Director appointment seeking Central Govt approval | compliance | minimal | — | — |
| 6 Oct 2026 · Certificate under SEBI Reg 74(5) for quarter ended Sep 30, 2026 | compliance | minimal | — | — |
| 22 Sept 2026 · Trading Window Closure Ahead of Q2 FY27 Results Board Meeting | compliance | minimal | — | — |
| 10 Sept 2026 · Yuken India 50th AGM: All 5 resolutions passed, including Rs 1.50 dividend | board shareholder meetings | low | — | — |
| 10 Sept 2026 · Yuken India 50th AGM: Final Dividend Rs 1.50 Per Share, All Resolutions Passed | board shareholder meetings | medium | — | — |
| 8 Sept 2026 · Yuken India issues corrigendum to FY 2025-26 annual report | compliance | low | — | — |
| 25 Aug 2026 · Head of Human Resources resigns citing personal reasons | management changes | medium | — | — |
| 18 Aug 2026 · 50th AGM notice dispatched to physical shareholders; AGM on Sept 10, 2026 | compliance | minimal | — | — |
| 18 Aug 2026 · Yuken India submits newspaper publication of AGM notice | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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.