Kirloskar Oil Engines Limited (KOEL), a leader in the manufacturing of engines, agricultural equipment, and generator sets with a sizable presence in international markets, recently announced its audited financial results for the fourth quarter and full year ended March 31, 2023.

Commenting on the Q4 and full-year results, Gauri Kirloskar, Managing Director, KOEL, said “This was another strong quarter for KOEL. We surpassed standalone revenue of 1,000 crores for the third consecutive quarter. Our B2B segment grew at 17 percent for the quarter on strong demand in Powergen and Industrial business. Furthermore, the B2C segment has shown 14 percent growth for the quarter. Our overall annual revenue increased by 25 percent, aligning well with the pace set by our 2X-3Y strategy. As outlined, we remain committed to focusing on five crucial pillars: core growth, technology, channel, operations excellence, and people. We are witnessing progress in each of these areas, with some already delivering positive outcomes and others expected to do so in the near future. The immediate focus for us is on the CPCB 4+ transition and we are progressing well. As I assess the advancements made on these pillars this year, my confidence in our capabilities continues to grow.”

The Board of Directors in its meeting held on May 19, 2023, has recommended a final Dividend of INR 2.50/- (125 percent) per equity share of INR 2/- each for the Financial Year 2022-23, subject to shareholder’s approval. This takes the full-year dividend at INR 5.00/ (250 percent) per share.

 Review of Q4 FY 23 Financial Performance (Standalone):

●      Revenue from operations at INR 1,152.6 Cr for Q4 FY 23 vs INR 990.0 Cr for Q4 FY 22;        16 percent increase Y-o-Y

●      EBITDA at INR 99.2 Cr for Q4 FY 23 vs INR 102.6 Cr for Q4 FY 22; 3 percent decrease Y-o-Y. Expenses include a one-time provision of INR 28.1 Cr for aged overdue receivables.

●      EBITDA margin at 8.6 percent for Q4 FY 23 vs 10.4 percent for Q4 FY 22

●      Net profit at INR 64.9 Cr for Q4 FY 23 vs INR 119.6 Cr for Q4 FY 22. Last year’s net profit include one-time income from the sale of ARKA shares of INR 52.6 Cr

●      Cash and cash equivalents of INR 210 Cr

 Review of FY 23 Financial Performance (Standalone):

●      Revenue from operations at INR 4,116.1 Cr for FY 23 vs INR 3,299.7 Cr for FY 22; 25 percent increase Y-o-Y

●      EBITDA at INR 426.9 Cr for FY 23 vs INR 268.8 Cr for YTD FY 22; 59 percent increase Y-o-Y

●      EBITDA margin at 10.4 percent for FY 23 vs 8.1 percent for FY 22

●      Net profit at INR 270.3 Cr for FY 23 vs INR 208.0 Cr for FY 22; 30 percent increase Y-o-Y

 Review of Q4 FY 23 Financial Performance (Consolidated):

●      Revenue from operation at INR 1,383.8 Cr for Q4 FY 23 vs INR 1,182.0 Cr for Q4 FY 22; 17 percent increase Y-o-Y

●      Net profit at INR 78.9 Cr for Q4 FY 23 vs INR 67.8 Cr for Q4 FY 22; 16 percent increase Y-o-Y

 Review of FY 23 Financial Performance (Consolidated):

●      Revenue from operation at INR 5,023.8 Cr for FY 23 vs INR 4,022.0 Cr for FY 22; 25 percent increase Y-o-Y

●      Net profit at INR 331.7 Cr for FY 23 vs INR 170.9 Cr for FY 22; 94 percent increase Y-o-Y

For more information: www.kirloskaroilengines.com