Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Oct - Please find attached herewith newspaper publication.
Source: Bse
Kirloskar Oil Engines Limited (KIRLOSENG)
Large CapIndustrials stocks · Large cap · NSE
Kirloskar Oil Engines manufactures engines, gensets, and power systems for B2B (Power & Energy, Industrial, Aftermarket) and B2C (Fluid Dynamics - pump sets). It also operates a Financial Services segment through its Arka Group subsidiary.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals15 Oct 2026 · screener
Latest result06 Aug, 10:47 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
56NeutralSMA20 +2.0% / mo · MACD −
Stock trend: 59
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
KIRLOSENGD candles · FIT view+24.0%Latest close ₹1973.20 on 2026-10-19
Bar
-2.3%
RSI
36
MACD hist
-28.52
52W pos
59%
2026-10-19O ₹2019.00H ₹2019.00L ₹1962.10C ₹1973.20Vol 2.8L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
KIRLOSENGNifty India ManufacturingNifty 500
- KIRLOSENG
- -11.2%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -5.6 pp
Chart stats
19 Oct 2026- From 52W high
- -27.5%
- 52W range position
- 60%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.41x
- Avg traded value
- ₹155 Cr
- 20D price channel
- ₹1,962.1 - ₹2,444
₹2,720
₹865.6 - ₹2,720
₹99.6
Latest completed session
20-session average
53.7% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST38
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +13.5% · PAT -20.1% YoY
Technical
Neutral56
Price trend and sector-relative-strength timing.
Valuation
Legacy model-33.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence74
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100PAT -20% YoY · margin compression · Rev +14% YoY
Filed 06 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,000 Cr | +13.5% | -5.5% |
| EBITDA | ₹300 Cr | -8.3% | -20.2% |
| Operating margin | 15.0% | -400 bps | -300 bps |
| PAT | ₹111 Cr | -20.1% | -28.4% |
| PAT margin | 5.5% | -234 bps | -178 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 54.90
- P/B
- 8.63
- EV/EBITDA
- 23.30
- Market Cap
- 31272.00Cr
Profitability
- ROE
- 17.50%
- ROCE
- 14.60%
- ROA
- 4.93%
- Dividend Y
- 0.33%
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- 25.00%
- Revenue 3Y
- 15.00%
- EPS 3Y
- 22.00%
Balance Sheet
- Debt/Equity
- 1.48
- Interest Coverage
- 2.79×
- Altman Z
- 4.34
- Book Value
- 249.00
Cash Flow
- FCF Yield
- 1.96%
- FCF Positive Y
- 5/5
- OCF
- 932.00 Cr
- EPS TTM
- 37.57
Shareholding
- Promoter Hold
- 41.06%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 69%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 2,000-5.5% vs prev
Net Profit
₹ CrLatest: 111-28.4% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 36. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~2.0% over last month) — short-term momentum positive.
- RSI(14) at 36 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 27% off 52W high · 124% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
97
RS percentile
Stage 1 Base / Transition
1M return
-8.7%
3M return
-11.2%
6M return
+20.3%
1Y return
+96.2%
RS 1D
-1
RS 20D
0
Sector rank
#5
Industry rank
#8
Stage evidence
- Price is within 0.2% of the 30-week proxy.
- The 30-week proxy changed +5.3% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
neutral
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 222.17-1.58%
RS vs Nifty 500222
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth16/25
Quality10/20
Balance Sheet4/15
Cash Flow5/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
38
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
38/100 · legacy band WATCHLIST
Positive drivers
- Growth contributes 16/25 to the score.
- Quality contributes 10/20 to the score.
- Cash flow contributes 5/10 to the score.
Main drags
- Fair-value margin of safety is negative at -33.6%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Balance sheet is weaker at 4/15; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
54.9
PB
8.6
EV/EBITDA
23.3
ROE
17.5%
ROCE
14.6%
FCF Yield
2.0%
Debt/Equity
1.5
MoS
-33.6%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Debt/equity is 1.5, so downturn resilience matters.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
38
Previous: 38
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-33.6%
Previous: -33.6%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
38
38
38
38
38
38
38
38
38
38
38
38
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹458.79
-330.1% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹1,476.5
-33.6% MoS
PEG
2.31
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SHYAMMETL
Large
Shyam Metalics and Energy Limited
Capital Goods
match 171
30
28.3
9.7%
-147%
OVERVALUED
SCHNEIDER
Large
Schneider Electric Infrastructure Limited
Capital Goods
match 171
44
148.0
38.2%
-274%
WATCHLIST
SUZLON
Mid
Suzlon Energy Limited
Capital Goods
match 155
75
18.3
39.7%
+56%
DEEP VALUE
LLOYDSENGG
Micro
LLOYDS ENGINEERING WORKS LIMITED
Capital Goods
match 153
39
64.5
15.1%
-39%
WATCHLIST
TECHNOE
Large
Techno Electric & Engineering Company Limited
Capital Goods
match 151
40
25.5
12.0%
-4%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-10-13T07:47:02.947Z
Management commentary snapshot
Kirloskar Oil Engines reported 13% YoY consolidated revenue growth in Q1 FY27, driven by B2B. However, consolidated PAT declined 17% YoY and 28% QoQ, with significant margin contraction across B2B, B2C, and Financial Services segments, raising profitability concerns.
Despite healthy domestic B2B revenue growth, the sharp decline in consolidated PAT and margins YoY and QoQ is concerning. Profitability erosion across all segments, coupled with increased inventory and payables days, suggests operational inefficiencies or pricing pressures. The slowdown in international markets adds further pressure.
Current business mix
Consolidated Revenue by Segment
Latest issuer-disclosed distribution across 3 reported categories.
B2B74.4%
B2C15.1%
Financial Services10.5%
Growth engines
Domestic Powergen
Continued market share gains across domestic Powergen.
Domestic B2B Segments
Double digit growth across all the business segments in domestic market.
Domestic B2C Expansion
Strong domestic expansion with key channel appointments in new markets.
Secured Retail Business
Drive to grow Secured granular retail business continues.
Tailwinds
Domestic Demand
Broad based domestic demand across the market segments.
Headwinds
International Market Slowdown
Slow down in international markets due to geopolitical uncertainties in the middle east region.
Geopolitical Pressures
Export market experienced slow down due to geopolitical pressures (B2C).
Risk radar
Profitability Erosion
Consolidated PAT declined 17% YoY and 28% QoQ, with margins contracting across all segments.
Working Capital Deterioration
Standalone inventory days increased to 64 from 44, and payables days to 81 from 60 YoY.
Geopolitical Risks
Geopolitical uncertainties in the Middle East region impacting international sales.
Financial Services Profitability
AFHPL Consolidated PAT for Q1FY27 stood at ₹6.9 Cr, down from ₹10.1 Cr YoY.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is essential for understanding the underlying growth trends and seasonal impacts in industrial and B2C businesses. QoQ analysis provides insight into sequential momentum, margin pressures, and execution efficiency.
Sector KPIs management disclosed
Revenue Growth (Consolidated)
13% YoY growth in Q1 FY27.
PAT Margin (Consolidated)
5.6% in Q1 FY27 vs 7.6% in Q1 FY26.
B2B Segment Results
₹114.6 Cr in Q1 FY27, down 18% YoY and 25% QoQ.
Inventory Days (Standalone)
64 days in Q1 FY27 vs 44 days in Q1 FY26.
Management forward view
B2C Market Strategy
Business continues to focus on reach and expansion with key channel appointments in the new markets.
Financial Services Focus
Drive to grow Secured granular retail business continues.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Consolidated PAT Margin | 5.6% in Q1 FY27. | Watch for stabilization and improvement in profitability margins. |
| B2B Segment Profitability | Segment results for B2B declined 18% YoY and 25% QoQ. | Watch for recovery in B2B segment results and margin. |
| Financial Services PAT | ₹6.9 Cr in Q1 FY27, down 31% YoY. | Watch for improvement in Financial Services PAT and AUM growth. |
| Working Capital Cycle | Standalone inventory days at 64, payables days at 81. | Watch for improvement in inventory and payables days. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
market share expansionnot yet verifiable
Planned rollout of products in Q3 FY '26 is expected to further enhance the company's competitive position across the domestic power generation business.
Timeframe: Q3 FY '26Direction: enhanceConfidence: expect
"planned rollout of our products in Q3 FY '26, which we expect will further enhance our competitive position"
operational efficiencynot yet verifiable
The company is working towards strengthening the performance of the Fluid Dynamics business in coming quarters.
Timeframe: coming quartersDirection: strengtheningConfidence: working towards
"work towards strengthening our performance in coming quarters"
revenue outlookcontradicted
Initiatives such as new product introductions and B2C restructuring are expected to position the company for steady and sustainable growth over the long term.
Timeframe: long termDirection: growthConfidence: expected
"These initiatives are expected to position the company for steady and sustainable growth over the long term."
Outcome check: Revenue YoY averaged 24.9% across 2 later quarter(s).
Trust Score
74Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Management has 0% delivered/partly-delivered outcomes on 1 checked claims, with 1 adverse claim outcome. It ranks around the 75th percentile of the scored universe and 73rd percentile within Industrials. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
80 docs text-extracted · 30 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
75th percentile
overall median 67 · Industrials: 73rd pctile, median 68 · Large: 55th pctile, median 73
Evidence depth
Financial-only
80 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
0% delivered or partly delivered
1/3 claims checked · 1 contradicted/failed claim
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
61
acceptable · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2%.
- ▸5 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Debt/equity is 1.48.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Kirloskar Oil Engines Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 24 Sep - Management to hold virtual 1x1 investor meeting with Valiant Capital on 29 September 2026, 9:00-10:00 AM.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 29 Sep - 29 Sep 2026 virtual 1x1 analyst meeting with Valiant Capital; operational overview discussed, no UPSI.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 16 Sep - 16 Sep 2026 virtual investor meeting with Morgan Stanley on operational overview; no UPSI discussed.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep - Kirloskar Oil Engines schedules Morgan Stanley virtual investor meeting on 16 September 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 2 Sep - KOEL and DEUTZ announce strategic cooperation on 1.6-litre engines, compliant with EU Stage V and US Tier 4.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug - The communication with respect to copies of notice published in the newspaper - Postal Ballot & Remote e-voting.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Jul
Source: Bse
Annual report
Annual Report Including Notice Of Annual General Meeting 13 Jul
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 13 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 7 Jul - Please find attached herewith intimation of ESOP allotment
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 Jul - Please find attached herewith newspaper publication regarding notice to members informing them about AGM and requesting them to register their email addresses in order to …
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.