- Home
- Results news
- Kirloskar Oil Engines
- Q2 FY27 results
Kirloskar Oil Engines Q2 FY27 results: net profit down 18.1% to ₹130.31 crore, revenue up 17.2%
Kirloskar Oil Engines Limited reported consolidated revenue of ₹2,284 crore and a net profit of ₹130.31 crore for Q2 FY27. Revenue rose 17.2% from Q2 FY26, while net profit fell 18.1% and EBITDA margin narrowed to 14.8% from 19.6%.
Key points
- Consolidated revenue was ₹2,284 crore in Q2 FY27, up 17.2% from Q2 FY26 and 14.2% from Q1 FY27.
- EBITDA was ₹337.53 crore, down 11.6% year on year but up 12.4% from Q1 FY27; the margin was 14.8%.
- Net profit was ₹130.31 crore, down 18.1% from Q2 FY26 but up 17.3% from Q1 FY27; basic EPS was ₹9.04.
- In H1 FY27, revenue rose 15.4% to ₹4,283.75 crore, while net profit fell 19.0% to ₹241.37 crore.
- B2B revenue rose 19.8% to ₹1,745.28 crore, while financial-services revenue fell 10.6% to ₹208.58 crore.
How did Kirloskar Oil Engines perform in Q2 FY27?
Kirloskar Oil Engines reported consolidated revenue of ₹2,284 crore in Q2 FY27, up 17.2% from ₹1,948 crore in Q2 FY26 and 14.2% from ₹2,000 crore in Q1 FY27. EBITDA fell 11.6% year on year to ₹337.53 crore but rose 12.4% from ₹300.33 crore in the previous quarter; EBITDA margin narrowed to 14.8% from 19.6%.
Consolidated net profit was ₹130.31 crore in Q2 FY27, down 18.1% from ₹159.19 crore a year earlier but up 17.3% from ₹111.06 crore in Q1 FY27. Basic EPS was ₹9.04, compared with ₹11.18 in Q2 FY26 and ₹7.82 in Q1 FY27.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,284 | 2,000 | 1,948 | +17.2% | +14.2% |
| Other income | 10.73 | 15.21 | 12.55 | −14.5% | −29.5% |
| Total expenses | 2,119 | 1,864 | 1,745 | +21.5% | +13.7% |
| EBITDA | 337.53 | 300.33 | 381.75 | −11.6% | +12.4% |
| EBITDA margin | 14.8% | 15.0% | 19.6% | −4.8 pp | −0.2 pp |
| Profit before tax | 175.47 | 151.07 | 216.30 | −18.9% | +16.2% |
| Tax | 45.16 | 40.01 | 57.11 | −20.9% | +12.9% |
| Net profit | 130.31 | 111.06 | 159.19 | −18.1% | +17.3% |
| EPS (₹) | 9.04 | 7.82 | 11.18 | −19.1% | +15.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Kirloskar Oil Engines' costs and profit?
Total expenses rose 21.5% to ₹2,119 crore in Q2 FY27 from ₹1,745 crore in Q2 FY26, outpacing the 17.2% increase in revenue. Cost of materials increased by ₹132.43 crore to ₹1,070 crore, employee cost by ₹43.38 crore to ₹194.45 crore, depreciation by ₹9.58 crore to ₹51.60 crore and other expenses by ₹62.92 crore to ₹367.88 crore. Finance costs fell by ₹14.79 crore to ₹121.19 crore.
Other income fell by ₹1.82 crore to ₹10.73 crore from ₹12.55 crore in Q2 FY26. There was no exceptional item in either quarter. Profit before tax fell by ₹40.83 crore to ₹175.47 crore, while tax expense was lower by ₹11.95 crore at ₹45.16 crore, compared with ₹57.11 crore a year earlier.
Against Q1 FY27, total expenses rose by ₹255.63 crore to ₹2,119 crore, including a ₹44.48 crore increase in other expenses and a ₹119.68 crore increase in cost of materials. Other income fell by ₹4.48 crore and tax expense rose by ₹5.15 crore, while profit before tax increased by ₹24.40 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1,070 | 937.24 | +132.43 | +14.1% |
| Employee cost | 194.45 | 151.07 | +43.38 | +28.7% |
| Finance costs | 121.19 | 135.98 | −14.79 | −10.9% |
| Depreciation | 51.60 | 42.02 | +9.58 | +22.8% |
| Other expenses | 367.88 | 304.96 | +62.92 | +20.6% |
| Total expenses | 2,119 | 1,745 | +374.67 | +21.5% |
| Other income | 10.73 | 12.55 | −1.82 | −14.5% |
| Tax | 45.16 | 57.11 | −11.95 | −20.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue rose 15.4% to ₹4,283.75 crore from ₹3,712.18 crore in H1 FY26, while total income increased 14.6% to ₹4,309.43 crore from ₹3,759.43 crore. Profit before tax fell 18.1% to ₹326.54 crore from ₹398.61 crore.
H1 FY27 net profit was ₹241.37 crore, down 19.0% from ₹298.11 crore in H1 FY26, and basic EPS was ₹16.86 compared with ₹20.96. The filing reported no exceptional item for the quarter and did not state an exceptional item for the half year.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 4,284 | 3,712 | +15.4% |
| Profit before tax | 326.54 | 398.61 | −18.1% |
| Net profit | 241.37 | 298.11 | −19.0% |
| EPS (₹) | 16.86 | 20.96 | −19.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹11,501.05 crore against ₹10,852.44 crore at 31 March 2026, and total equity was ₹3,779.17 crore against ₹3,575.13 crore. Borrowings rose to ₹5,598.01 crore from ₹5,313.78 crore, while cash fell to ₹740.64 crore from ₹764.2 crore. Inventories rose to ₹1,121.43 crore from ₹743.66 crore.
H1 FY27 operating cash flow was negative ₹202.94 crore, compared with ₹347.74 crore in H1 FY26. Investing cash flow was negative ₹22.75 crore against ₹87.92 crore, financing cash flow was ₹201.88 crore against negative ₹369.52 crore, and capital expenditure was ₹214.41 crore against ₹151.97 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 11,501 | 10,852 |
| Total equity | 3,779 | 3,575 |
| Borrowings | 5,598 | 5,314 |
| Cash and equivalents | 740.64 | 764.20 |
| Inventories | 1,121 | 743.66 |
| Trade receivables | 1,089 | 953.19 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −202.94 | 347.74 |
| Cash from investing | −22.75 | 87.92 |
| Cash from financing | 201.88 | −369.52 |
| Capital expenditure | 214.41 | 151.97 |
Source: Company's results filing (XBRL).
How has Kirloskar Oil Engines done over the last 8 quarters?
Revenue reached ₹2,284 crore in Q2 FY27, the highest in the eight-quarter series, after ₹1,999.53 crore in Q1 FY27. Revenue had risen year on year in each of the last eight quarters, although the margin moved in the opposite direction.
EBITDA margin peaked at 19.6% in Q2 FY26 and was 14.8% in Q2 FY27, the lowest level in the reported series. Net profit was ₹130.31 crore in Q2 FY27, compared with its low of ₹67.89 crore in Q3 FY25 and its peak of ₹159.19 crore in Q2 FY26.
Which businesses drove the quarter?
B2B revenue rose 19.8% to ₹1,745.28 crore in Q2 FY27 from ₹1,456.64 crore in Q2 FY26, but segment EBIT fell to ₹147.59 crore from ₹163.24 crore. The reported B2B EBIT margin was 8.5%.
B2C revenue increased 27.8% to ₹330.18 crore from ₹258.42 crore, while segment EBIT rose to ₹22.87 crore from ₹18.18 crore; the reported EBIT margin was 6.9%. Financial-services revenue fell 10.6% to ₹208.58 crore from ₹233.32 crore, and segment EBIT fell to ₹6.05 crore from ₹33.52 crore; the reported EBIT margin was 2.9%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| B2B | 1,745 | +19.8% | 147.59 | 8.5% |
| B2C | 330.18 | +27.8% | 22.87 | 6.9% |
| Financial services | 208.58 | −10.6% | 6.05 | 2.9% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the standalone and consolidated unaudited financial results for the quarter and half year ended 30 September 2026. The same-day filings did not announce a dividend or a fund raise.
What did Kirloskar Oil Engines' management say?
Management said the Power & Energy business saw strong domestic Powergen performance across LHP, MHP and HHP, with significant market-share gains in MHP and HHP. It also reported recovery in the International business, driven by Africa, and steady Industrial growth led by Marine, Agri and Fluid Handling.
Management said Fluid Dynamics showed significant growth and revenue recovery, supported by volume growth in domestic agricultural and commercial pumps, resilient domestic channel sales and improved export momentum. It said the secured granular retail finance business remained a priority: “Drive to grow Secured granular retail business continues.”
Management highlighted standalone margin compression and weaker B2B and financial-services earnings as risks. It also noted that Engines LPG, LLC, doing business as Wildcat Power Gen, became a 100%-owned subsidiary effective 6 August 2026 US time. The presentation did not provide a specific timeframe for its retail-finance growth priority.
How did other Compressors Pumps & Diesel Engines companies do?
Seven other Compressors Pumps & Diesel Engines companies that filed for the quarter had a median revenue growth of 19.0%, compared with Kirloskar Oil Engines’ consolidated revenue growth of 17.2%. Three peers grew slower than the company and four grew faster.
Among the seven peers for which profit was compared, two reported higher profit. The peer comparison was available as of 5 November 2026.
| Kirloskar Oil Engines revenue growth (YoY) | +17.2% |
|---|---|
| Median of 7 other Compressors Pumps & Diesel Engines companies | +19.0% |
| Companies with slower revenue growth than Kirloskar Oil Engines | 3 of 7 |
| Companies with faster revenue growth than Kirloskar Oil Engines | 4 of 7 |
| Companies whose net profit rose | 2 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kirloskar Oil Engines' revenue in Q2 FY27?
Revenue from operations was ₹2,284 crore, up 17.2% from ₹1,948 crore in Q2 FY26 (consolidated).
Did Kirloskar Oil Engines make a profit in Q2 FY27?
Yes. Net profit was ₹130.31 crore, against a net profit of ₹159.19 crore in Q2 FY26.
What was Kirloskar Oil Engines' EPS in Q2 FY27?
Basic earnings per share were ₹9.04, against ₹11.18 in Q2 FY26.
When did Kirloskar Oil Engines announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
- The investor presentation (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.