Kirloskar Brothers Ltd - Stock Valuation and Financial Performance

BSE: 500241 | NSE: KIRLOSBROS | Engineering - Industrial Equipments | Small Cap

Kirloskar Brothers Share Price

1,110.85 57.80 5.49%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Kirloskar Brothers

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Kirloskar Brothers stock performance -

mw4me loader
P/E Ratio (SA):
45.24
Market Cap:
8,772.7 Cr.
52-wk low:
376.6
52-wk high:
1,235.4

Is Kirloskar Brothers Ltd an attractive stock to invest in?

1. Is Kirloskar Brothers Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Kirloskar Brothers Ltd is a average quality company.

2. Is Kirloskar Brothers Ltd undervalued or overvalued?

The key valuation ratios of Kirloskar Brothers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Kirloskar Brothers Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Kirloskar Brothers Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Kirloskar Brothers:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Kirloskar Brothers Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 8.7%3.9%3.7%5.3%7.9%9.7%8.1%8.9%6.8%11.7%-
Value Creation
Index
-0.4-0.7-0.7-0.6-0.4-0.3-0.4-0.4-0.5-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,7601,6261,7211,7351,9132,2232,0971,8002,1662,5402,614
Sales YoY Gr.--7.6%5.9%0.8%10.2%16.3%-5.7%-14.2%20.3%17.3%-
Adj EPS 7.81.41.54.28.210.99.511.89.718.924.4
YoY Gr.--82.4%11%178.3%93.9%32.3%-12.4%24.4%-18.3%95.7%-
BVPS (₹) 100.8100.3101.5105.5112.8118.4123134.5141.7157.6166.7
Adj Net
Profit
61.710.912.133.665.186.175.593.976.7150194
Cash Flow from Ops. 11410950.511814882.921224378249-
Debt/CF from Ops. 22.251.61.11.91.50.630.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4.2%5.8%6.6%17.3%
Adj EPS 10.4%18.2%25.8%95.7%
BVPS5.1%6.9%8.6%11.2%
Share Price 21% 46.7% 71.2% 189.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
7.81.41.54.17.59.47.99.2712.615.1
Op. Profit
Mgn %
9.15.53.86.27.17.38.29.67.39.710.9
Net Profit
Mgn %
3.50.70.71.93.43.93.65.23.55.97.4
Debt to
Equity
0.30.30.30.20.20.20.30.10.20.1-
Working Cap
Days
27129228927426223925527521918493
Cash Conv.
Cycle
-114222129344138393732

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 15.10%

Net Profit is growing at healthy rate in last 3 years 25.77%

Sales growth has been subdued in last 3 years 6.60%

Sales growth is not so good in last 4 quarters at 4.28%

Latest Financials - Kirloskar Brothers Ltd.

Standalone Consolidated
TTM EPS (₹) 24.4 37.3
TTM Sales (₹ Cr.) 2,614 3,902
BVPS (₹.) 166.7 195.8
Reserves (₹ Cr.) 1,308 1,539
P/BV 6.63 5.64
PE 45.24 29.62
From the Market
52 Week Low / High (₹) 376.55 / 1235.35
All Time Low / High (₹) 2.23 / 1235.35
Market Cap (₹ Cr.) 8,773
Equity (₹ Cr.) 15.9
Face Value (₹) 2
Industry PE 46

Management X-Ray of Kirloskar Brothers:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Kirloskar Brothers

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,7601,6261,7211,7351,9122,2232,0971,8002,1662,540
Operating Expenses 1,6201,5401,6561,6291,7792,0611,9261,6272,0092,296
Manufacturing Costs121141152157168210209141222263
Material Costs1,0929521,0729971,1291,3211,1621,0701,3171,474
Employee Cost 152170192217227241258225251287
Other Costs 255276240258254290297191219271
Operating Profit 1408565106134162171172157244
Operating Profit Margin (%) 8.0%5.2%3.8%6.1%7.0%7.3%8.2%9.6%7.2%9.6%
Other Income 5112318192525193633
Interest 41413832252630241614
Depreciation 35504140353740384142
Exceptional Items 000000-6-4-25-14
Profit Before Tax 70695392124120125111207
Tax 22-3-320273741323355
Profit After Tax 48812336687799378153
PAT Margin (%) 2.7%0.5%0.7%1.9%3.4%3.9%3.8%5.2%3.6%6.0%
Adjusted EPS (₹)6.01.11.54.28.311.010.011.79.819.2
Dividend Payout Ratio (%)42%47%32%24%30%23%25%26%30%23%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 8007968068388969409771,0681,1251,252
Share Capital 16161616161616161616
Reserves 7847807908228809249611,0521,1101,236
Minority Interest0000000000
Debt22323725318915314728411420382
Long Term Debt4321362459348249
Short Term Debt2192342521881171242258012133
Trade Payables375405391414442537451468452455
Others Liabilities 528479486485551514599565534548
Total Liabilities 1,9271,9171,9371,9252,0412,1392,3102,2152,3142,337

Fixed Assets

Gross Block572622639663684718781800888914
Accumulated Depreciation262311343372403438476502537579
Net Fixed Assets310311296291281280304299351335
CWIP 3763122448722178
Investments 215233239239274298337464565491
Inventories132188206260313367420374419439
Trade Receivables341395357340382471339349394369
Cash Equivalents 2114202561351976261150
Others Assets904770813767720664665595502473
Total Assets 1,9271,9171,9371,9252,0412,1392,3102,2152,3142,337

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 114109501181488321224378249
PBT 70675392124120125111207
Adjustment 73109881097686105887599
Changes in Working Capital -75-30-49-9-1121657-83-6
Tax Paid -22-11-155-11-15-29-27-25-52
Cash Flow From Investing Activity -15-66-20-21-60-61-139-177-139-3
Capex -39-65-25-32-34-47-89-57-42-85
Net Investments 02-10010-45-79-12364
Others 25-31511-28-14-5-412718
Cash Flow From Financing Activity -96-44-24-91-52-4789-19962-155
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 000-65-24-5150-2549-33
Interest Paid -32-35-31-26-18-18-19-24-11-10
Dividend Paid -17-20-9-1-10-24-42-4-24-24
Others -4711160000-14549-88
Net Cash Flow 3-16636-25162-133191
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)6.061.061.534.017.579.518.269.127.1312.84
ROCE (%)10.684.554.58.1211.2713.9212.5911.959.8816.21
Asset Turnover Ratio0.960.890.890.940.981.060.940.80.971.11
PAT to CFO Conversion(x)2.3813.634.173.582.240.952.682.6111.63
Working Capital Days
Receivable Days69798070687071696254
Inventory Days31344247545668806661
Payable Days138150135147138135155157128112

Kirloskar Brothers Ltd Stock News

Kirloskar Brothers Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Kirloskar Brothers on 28-Mar-2024 16:01 is ₹1,110.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Kirloskar Brothers stood at ₹8,772.7.
The latest P/E ratio of Kirloskar Brothers as of 28-Mar-2024 16:01 is 45.24.
The latest P/B ratio of Kirloskar Brothers as of 28-Mar-2024 16:01 is 6.63.
The 52-week high of Kirloskar Brothers is ₹1,235.4 and the 52-week low is ₹376.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kirloskar Brothers is ₹2,614 ( Cr.) .

About Kirloskar Brothers Ltd

Kirloskar Brothers (KBL), established in 1888, is engaged in manufacturing pumps. KBL was incorporated in the year 1920 it is part of $2.2 billion Kirloskar group. It is India’s largest manufacturer and exporter of pumps and valves. KBL Sales in 2010-2011 exceeded US $ 590 Million with a market capitalization of more than US $ 350 million. The core business of KBL is manufacturing of project and engineered pumps, industrial pumps, agriculture and domestic pumps, valves, hydro turbines, power generation and anti corrosion products.

The company is one of the three manufacturers in the world to manufacture and install 200 KW canned motor pumps for nuclear application. KBL is India’s largest manufacturer and exporter of pumps and also the largest infrastructure pumping project contractor in Asia. To its credit KBL has created the world’s largest pumping scheme which will irrigate more than two million hectares of land and supply water to 4620 towns and villages in the state of Gujarat in India. The scheme was known as Sardar Sarovar Narmada Nigam Scheme.

KBL’s subsidiary in England, SPP Pumps which was acquired in 2003 is the undisputed leader in the Fire-fighting and Water Supply segments in Europe and the Middle East. Together KBL and SPP represent the world’s largest fire fighting pump business for onshore and offshore applications. KBL is one of the three manufacturers in the world who have manufactured and installed 200 kW Canned motor pumps for nuclear application. KBL is the first company to introduce Concrete Volute Pumps in India.

In April 2010, Kirloskar Brothers through its wholly owned subsidiary - Kirloskar Brothers International B. V., Netherlands, had acquired 90% shares in Braybar, based in South Africa.

In December 2010, Kirloskar Brothers disposed off its 100% shares of the wholly owned subsidiaries -- Pressmatic Electro Stampings and Quadromatic Engineering  -- to its wholly owned subsidiary -- Hematic Motors -- at its acquisition cost, at an aggregate price of about Rs 30 crore.

During March 2011, the company had manufactured the largest horizontal split-case pump for the Indian market. The pumps of the same size have already been supplied by KBL in the export markets which are operational in Portugal and Sudan.

In June 2011, Kirloskar Brothers had opened a new plant at Coimbatore for manufacturing small pumps.

Awards & Milestones

  • National Award for Excellence in Energy Management 2008 - Innovative Product / Service Award.
  • In Jan 2008, The innovative siphon breaking and siphon arrangement system of KBL, wins the Golden Peacock Award for Innovative Product. It also won two gold and one silver at the ABCI Awards.
  • The company won National Excellence in energy management by Confederation of Indian Industry (CII).
  • It won All India Award for Export Excellence given by Engineering Export Promotion Council.

2010

Kirloskar Systech Ltd. has been incorporated as a Wholly Owned Subsidiary of Kirloskar Brothers Ltd.

2011

KBL launches innovative design Tamper Proof Kinetic Air Valve
KBL Launches Mobile Pump Controller
Kirloskar Brothers Limited wins prestigious SAP ACE Award 2011
KBL honoured with the Golden Peacock Award 2010 (CSR)
KBL wins National Energy Management Award 2009
Mr. Srivastava, Director, Kirloskar Brothers honoured with the "Power Persona of the Year Award"

2012

KBL Launches web based troubleshooting guide for pumps.
Kirloskar Brothers Limited inauguratesits first Authorised Refurbishment Centre (ARC) at Vadodara
KBL gets trademark registration for JALVERTER.

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