Announcement • Aug 06
Kirloskar Ferrous Industries Limited Approves Appointment of Pallavi Pratap Gokhale as Independent Director Kirloskar Ferrous Industries Limited at its AGM held on August 5, 2026 approved appointment of Mrs. Pallavi Pratap Gokhale as an Independent Director of the company to hold office for a term upto 11 June 2031. Announcement • Jul 28
Kirloskar Ferrous Industries Limited to Report Q1, 2027 Results on Aug 05, 2026 Kirloskar Ferrous Industries Limited announced that they will report Q1, 2027 results at 12:15 PM, Indian Standard Time on Aug 05, 2026 Reported Earnings • Jul 18
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: EPS: ₹30.78 (up from ₹17.87 in FY 2025). Revenue: ₹68.9b (up 4.9% from FY 2025). Net income: ₹5.07b (up 73% from FY 2025). Profit margin: 7.4% (up from 4.5% in FY 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 1.9%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Declared Dividend • Jul 16
Final dividend increased to ₹3.00 Dividend of ₹3.00 is 20% higher than last year. Ex-date: 17th July 2026 Payment date: 4th September 2026 Dividend yield will be 1.3%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Jul 13
Kirloskar Ferrous Industries Limited, Annual General Meeting, Aug 05, 2026 Kirloskar Ferrous Industries Limited, Annual General Meeting, Aug 05, 2026, at 16:00 Indian Standard Time. New Risk • Jul 13
New major risk - Revenue and earnings growth Earnings have declined by 7.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.7% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 09
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: EPS: ₹21.71 (up from ₹17.88 in FY 2025). Revenue: ₹69.5b (up 5.9% from FY 2025). Net income: ₹3.58b (up 22% from FY 2025). Profit margin: 5.1% (up from 4.5% in FY 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 1.9%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • May 02
Kirloskar Ferrous Industries Limited to Report Q4, 2026 Results on May 07, 2026 Kirloskar Ferrous Industries Limited announced that they will report Q4, 2026 results on May 07, 2026 Announcement • Jan 31
Kirloskar Ferrous Industries Limited to Report Q3, 2026 Results on Feb 10, 2026 Kirloskar Ferrous Industries Limited announced that they will report Q3, 2026 results on Feb 10, 2026 Announcement • Oct 27
Kirloskar Ferrous Industries Limited to Report Q2, 2026 Results on Nov 06, 2025 Kirloskar Ferrous Industries Limited announced that they will report Q2, 2026 results on Nov 06, 2025 Announcement • Jul 24
Kirloskar Ferrous Industries Limited to Report Q1, 2026 Results on Aug 04, 2025 Kirloskar Ferrous Industries Limited announced that they will report Q1, 2026 results on Aug 04, 2025 Announcement • Jul 03
Kirloskar Ferrous Industries Limited, Annual General Meeting, Aug 04, 2025 Kirloskar Ferrous Industries Limited, Annual General Meeting, Aug 04, 2025, at 16:00 Indian Standard Time. Announcement • May 09
Kirloskar Ferrous Industries Limited Recommends Final Dividend for the Financial Year 2024-2025 Kirloskar Ferrous Industries Limited announced the Board of Directors at its meeting held on 9 May 2025 has recommended the final dividend of INR 2.50 per equity share of INR 5 each (i.e. 50%) for the financial year 2024-2025 for approval of the Members of the Company at the ensuing annual general meeting. Announcement • Apr 26
Kirloskar Ferrous Industries Limited to Report Q4, 2025 Results on May 09, 2025 Kirloskar Ferrous Industries Limited announced that they will report Q4, 2025 results on May 09, 2025 Announcement • Mar 18
Kirloskar Ferrous Industries Limited Announces Resignation of Mahesh Chhabria as Non-Executive Non-Independent Director, Effective from 31 March 2025 Kirloskar Ferrous Industries Limited informed that Mr. Mahesh Chhabria (DIN 00166049) vide the letter dated 18 March 2025 has submitted his resignation as a Non-Executive Non-Independent Director from the Board of the Company with effect from 31 March 2025 and the Chairman has noted and accepted the same. In order to pursue entrepreneurial journey, Mr. Mahesh Chhabria has resigned from the Board of the Company with effect from 31 March 2025. Announcement • Feb 05
Corporate Action-Board Approves Interim Dividend for the financial year 2024-2025, Payable on or Before 3 March 2025 The Board of Directors of Kirloskar Ferrous Industries Limited at that meeting has declared an Interim Dividend of INR 3 per
equity share of INR 5 each (i.e. 60%) for the financial year 2024-2025. The Record Date has been fixed as 14 February 2025 for the purpose of ascertaining list of members entitled to the Interim Dividend. Interim Dividend will be paid on or before 3 March 2025. Announcement • Jan 21
Kirloskar Ferrous Industries Limited to Report Nine Months, 2025 Results on Feb 04, 2025 Kirloskar Ferrous Industries Limited announced that they will report nine months, 2025 results on Feb 04, 2025 Announcement • Oct 29
Kirloskar Ferrous Industries Limited to Report Q2, 2025 Results on Nov 06, 2024 Kirloskar Ferrous Industries Limited announced that they will report Q2, 2025 results on Nov 06, 2024 Announcement • Sep 26
Kirloskar Ferrous Industries Limited Announces Board Appointments Kirloskar Ferrous Industries Limited announced that at the AGM held on 24 September 2024, approved the Appointment of Mr. Sourirajan Rajagopalan as an Independent Director of the Company to hold the office for a term upto 31 August 2028. Appointment of Mr. Pattanasetty Rajashekhar as an Independent Director of the Company to hold the office for a term upto 8 August 2029. Appointment of Mr. Maruthuvakudi Sankaranarayana Srinivasan as an Independent Director of the Company to hold the office for a term upto 15 July 2029. Appointment of Mr. Nishikant Balkrishna Ektare as the Executive Director (Operations) for a term from 9 August 2024 to 9 March 2027 and approval to the terms of. Appointment of Mr. Nishikant Balkrishna Ektare as a Director of the Company. Announcement • Sep 04
Kirloskar Ferrous Industries Limited, Annual General Meeting, Sep 24, 2024 Kirloskar Ferrous Industries Limited, Annual General Meeting, Sep 24, 2024, at 11:00 Indian Standard Time. Announcement • Aug 10
Kirloskar Ferrous Industries Limited Appoints Sourirajan Rajagopalan as an Additional Director in the Category of Independent Director Kirloskar Ferrous Industries Limited announced that upon recommendation of the Nomination and Remuneration Committee and the approval of the Board of Directors of the Company at its meeting held on 9 August 2024; Mr. Sourirajan Rajagopalan (DIN: 10738323) has been co-opted as an Additional Director in the category of Independent Director with effect from 10 August 2024. Mr. Sourirajan Rajagopalan, aged 70 years, is a graduate in metallurgical Engineering with exposure to management education from the Indian Institute of Management, Ahmedabad. He has rich experience of around fifty years in the field of automotive component manufacturing and foundry operations. He has worked earlier in leading auto ancillary companies and had a stint of entrepreneurship also for a decade. He has spearheaded couple of green field projects before involving in Ashley Alteams and has global exposure too. He has been Chief Executive Officer of Ashley Alteams from the year 2008 to the year 2023. Established the Project in entirety and made it a profitable organisation with robust systems. After retiring in November 2023, he is engaged in the advisory services. He does not hold any directorship in any other company. Announcement • Aug 09
Kirloskar Ferrous Industries Limited Proposes Final Dividend for the Financial Year 2023-2024 The Board of Directors of Kirloskar Ferrous Industries Limited at its meeting held on 9 August 2024 has recommended the Final Dividend of INR 2.50 per equity share of INR 5 each (i.e. 50%) for the financial year 2023-2024 for approval of the Members of the Company at the upcoming annual general meeting. Announcement • Aug 06
Kirloskar Ferrous Industries Limited (BSE:500245) completed the acquisition of 23.7% stake in ISMT Limited (BSE:532479) from its shareholders. Kirloskar Ferrous Industries Limited (BSE:500245) agreed to acquire the remaining 23.7% stake in ISMT Limited (BSE:532479) from its shareholders on November 5, 2022. Kirloskar Ferrous Industries Limited will issue 17 shares for every 100 shares of ISMT Limited. The transaction is subject to shareholder approval of both Kirloskar Ferrous Industries and ISMT Limited, approval from the Hon’ble National Company Law Tribunal, Stock Exchanges, the Securities and Exchange Board of India, and creditors. The transaction has been approved by both the board of Kirloskar Ferrous Industries and ISMT Limited. The transaction is expected to close on April 1, 2023. JM Financial Limited (BSE:523405) provided fairness opinion to Kirloskar Ferrous Industries Limited.
Kirloskar Ferrous Industries Limited (BSE:500245) completed the acquisition of 23.7% stake in ISMT Limited (BSE:532479) from its shareholders on August 1, 2024. Announcement • Aug 02
Kirloskar Ferrous Industries Limited to Report Q1, 2025 Results on Aug 09, 2024 Kirloskar Ferrous Industries Limited announced that they will report Q1, 2025 results at 12:15 PM, Indian Standard Time on Aug 09, 2024 Announcement • Jul 17
Kirloskar Ferrous Industries Limited Co-Opts Maruthuvakudi Sankaranarayana Srinivasan as an Additional Director in the Category of Independent Director Kirloskar Ferrous Industries Limited announced that upon recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company has co-opted Mr. Maruthuvakudi Sankaranarayana Srinivasan as an Additional Director in the category of Independent Director with effect from 16 July 2024. His brief profile is as given below: He is aged 57 years and has completed the Bachelor of Mechanical Engineering from Bharathidasan University, Tamilnadu in the year 1988. He is accomplished business leader with around 36 years' experience in auto, auto components, engineering and power sectors. He has facilitated companies to grow business, manage profit & loss and cash flows, start new /expand business, start up ventures, develop and coach leaders and drive business and functional excellence. He has worked earlier with companies viz. Crompton Greaves Limited (for around 15 years), Mahindra and Mahindra Limited - auto sector (for around 5 years), Chicago Pneumatic India Limited (for around 5 years) in diverse roles. Presently, he is a Principal Consultant (Business Excellence) at CII Institute of Quality at Bangalore. Announcement • Jul 16
Kirloskar Ferrous Industries Limited Announces Retirement of Yashwant Sripad Bhave as Independent Director Kirloskar Ferrous Industries Limited informed that Mr. Yashwant Sripad Bhave (DIN: 00057170) has retired as an Independent Director on 15 July 2024 pursuant to the resolution passed by the Members of the Company at their annual general meeting held on 1 August 2022. Announcement • May 05
Kirloskar Ferrous Industries Limited to Report Q4, 2024 Results on May 17, 2024 Kirloskar Ferrous Industries Limited announced that they will report Q4, 2024 results on May 17, 2024 Announcement • Mar 07
Kirloskar Ferrous Industries Limited Declares Interim Dividend for the Financial Year 2023-2024, Payable on or Before 29 March 2024 Kirloskar Ferrous Industries Limited at its meeting held on 7 March 2024 has declared an Interim Dividend of INR 3 per equity share of INR 5 each (i.e. 60%) for the financial year 2023-2024. The Record Date has been fixed as 16 March 2024 for the purpose of ascertaining list of members entitled to the Interim Dividend. Interim Dividend will be paid on or before 29 March 2024 through various modes of payment viz. Direct Credit /NEFT /RTGS /NECS /Dividend Warrants or Demand Drafts, as the case may be. Announcement • Jan 25
Kirloskar Ferrous Industries Limited to Report Q3, 2024 Results on Feb 02, 2024 Kirloskar Ferrous Industries Limited announced that they will report Q3, 2024 results on Feb 02, 2024 Announcement • Jan 23
Kirloskar Ferrous Industries Limited, Annual General Meeting, Mar 14, 2024 Kirloskar Ferrous Industries Limited, Annual General Meeting, Mar 14, 2024, at 15:00 Indian Standard Time. Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: ₹4.91 (vs ₹6.97 in 2Q 2023) Second quarter 2024 results: EPS: ₹4.91 (down from ₹6.97 in 2Q 2023). Revenue: ₹15.6b (down 11% from 2Q 2023). Net income: ₹682.5m (down 46% from 2Q 2023). Profit margin: 4.4% (down from 7.1% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 26
Kirloskar Ferrous Industries Limited to Report Q2, 2024 Results on Nov 03, 2023 Kirloskar Ferrous Industries Limited announced that they will report Q2, 2024 results on Nov 03, 2023 Announcement • Oct 10
Kirloskar Ferrous Industries Limited Announces Retirement of Madhukar Vinayak Kotwal as Independent Director Kirloskar Ferrous Industries Limited announced that Mr. Madhukar Vinayak Kotwal (DIN: 00001744) has retired as an Independent Director on 9 October 2023 pursuant to the resolution passed by the Members of the Company at their annual general meeting held on 11 August 2020. Announcement • Oct 01
Kirloskar Ferrous Industries Limited (BSE:500245) completed the acquisition of Oliver Engineering Private Limited in a bankruptcy sale. Kirloskar Ferrous Industries Limited (BSE:500245) agreed to acquire Oliver Engineering Private Limited in a bankruptcy sale for INR 9 million on September 12, 2023.Kirloskar Ferrous Industries Limited (BSE:500245) completed the acquisition of Oliver Engineering Private Limited in a bankruptcy sale on September 29, 2023. Recent Insider Transactions • Sep 10
Executive Vice President of R&D recently sold ₹491k worth of stock On the 5th of September, Inturi Chandrasekhar sold around 1k shares on-market at roughly ₹491 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Price Target Changed • Sep 06
Price target increased by 12% to ₹563 Up from ₹501, the current price target is an average from 2 analysts. New target price is 16% above last closing price of ₹486. Stock is up 87% over the past year. The company is forecast to post earnings per share of ₹40.50 for next year compared to ₹28.46 last year. Announcement • Jul 25
Kirloskar Ferrous Industries Limited to Report Q1, 2024 Results on Aug 02, 2023 Kirloskar Ferrous Industries Limited announced that they will report Q1, 2024 results on Aug 02, 2023 Announcement • Jul 04
Kirloskar Ferrous Industries Limited, Annual General Meeting, Aug 03, 2023 Kirloskar Ferrous Industries Limited, Annual General Meeting, Aug 03, 2023, at 11:00 Indian Standard Time. Reported Earnings • May 18
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₹28.46 (up from ₹25.06 in FY 2022). Revenue: ₹64.7b (up 73% from FY 2022). Net income: ₹3.95b (up 14% from FY 2022). Profit margin: 6.1% (down from 9.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 101% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 13
Kirloskar Ferrous Industries Limited Co-Opts Shalini Sarin as an Additional Director in the Category of Independent Director, Effective 13 May 2023 Kirloskar Ferrous Industries Limited announced upon recommendation of the nomination and remuneration committee, the board of directors at its meeting held on 12 May 2023 has co-opted Dr. Shalini Sarin as an additional director in the category of independent director with effect from 13 May 2023. Dr. Shalini Sarin, aged 57 years, holds a Doctorate in Organization Behaviour and a Masters in Sociology and Human Resource Management. She has about three decades of corporate experience ranging from Chief People Officer to Head of Corporate Social Responsibility (CSR) to Business Leader. Her specialization has been change management, leadership, succession and a significant experience in transformations during mergers, acquisitions, restructuring, divestiture and IPOs. She is not a relative of any other Director on the Board of Directors of the Company. She holds directorship in following companies: Linde India Limited; Automotive Axles Limited; Meritor HVS (India) Limited; Kirloskar Oil Engines Limited Elektromobilitat India Private Limited; ISMT Limited. Announcement • Feb 19
Kirloskar Ferrous Industries Limited Announces Temporarily Suspension of Operations of the Mini Blast Furnace Kirloskar Ferrous Industries Limited informed that the operations of the Mini Blast Furnace of the company situated at Hiriyur, Karnataka have been suspended temporarily with effect from 18 February 2023 for around sixty days for the purpose of routine maintenance work. Upcoming Dividend • Feb 10
Upcoming dividend of ₹2.50 per share at 1.5% yield Eligible shareholders must have bought the stock before 17 February 2023. Payment date: 06 March 2023. Payout ratio is a comfortable 13% but the company is paying out more than the cash it is generating. Trailing yield: 1.5%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (7.3%). Announcement • Feb 08
Kirloskar Ferrous Industries Limited Declares Interim Dividend for the Financial Year 2022-23, Payable on or Before 6 March 2023 The Board of Directors of Kirloskar Ferrous Industries Limited at its meeting held on 7 February 2023 has declared an Interim Dividend of INR 2.50 per equity share of INR 5 each (i.e. 50%) for the financial year 2022-2023. The Record Date has been fixed as 17 February 2023 for the purpose of ascertaining list of members entitled to the Interim Dividend. Interim Dividend will be paid on or before 6 March 2023. Reported Earnings • Feb 08
Third quarter 2023 earnings released: EPS: ₹8.40 (vs ₹5.88 in 3Q 2022) Third quarter 2023 results: EPS: ₹8.40 (up from ₹5.88 in 3Q 2022). Revenue: ₹16.1b (up 72% from 3Q 2022). Net income: ₹1.51b (up 86% from 3Q 2022). Profit margin: 9.4% (up from 8.7% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 24
Kirloskar Ferrous Industries Limited to Report Q3, 2023 Results on Feb 07, 2023 Kirloskar Ferrous Industries Limited announced that they will report Q3, 2023 results on Feb 07, 2023 Buying Opportunity • Jan 05
Now 20% undervalued Over the last 90 days, the stock is up 24%. The fair value is estimated to be ₹445, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 45%. Revenue is forecast to grow by 31% in a year. Earnings is forecast to grow by 46% in the next year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Independent Director Pravir Vohra was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: ₹6.97 (vs ₹8.66 in 2Q 2022) Second quarter 2023 results: EPS: ₹6.97. Revenue: ₹17.8b (up 86% from 2Q 2022). Net income: ₹1.25b (up 4.5% from 2Q 2022). Profit margin: 7.0% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in India are expected to remain flat. Board Change • Sep 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Independent Director Pravir Vohra was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₹249, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total loss to shareholders of 3.7% over the past year. Recent Insider Transactions • Aug 12
Insider recently sold ₹325m worth of stock On the 10th of August, Nihal Kulkarni sold around 2m shares on-market at roughly ₹210 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹653m more than they bought in the last 12 months. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: ₹6.74 (vs ₹10.08 in 1Q 2022) First quarter 2023 results: EPS: ₹6.74 (down from ₹10.08 in 1Q 2022). Revenue: ₹15.1b (up 83% from 1Q 2022). Net income: ₹1.11b (down 21% from 1Q 2022). Profit margin: 7.3% (down from 17% in 1Q 2022). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jul 14
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 2.7%. Within top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (6.6%). Reported Earnings • Jul 09
Full year 2022 earnings released: EPS: ₹25.06 (vs ₹21.89 in FY 2021) Full year 2022 results: EPS: ₹25.06 (up from ₹21.89 in FY 2021). Revenue: ₹37.5b (up 84% from FY 2021). Net income: ₹3.47b (up 15% from FY 2021). Profit margin: 9.3% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Reported Earnings • May 19
Full year 2022 earnings released: EPS: ₹25.06 (vs ₹21.89 in FY 2021) Full year 2022 results: EPS: ₹25.06. Revenue: ₹37.5b (up 84% from FY 2021). Net income: ₹1.86b (down 38% from FY 2021). Profit margin: 5.0% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jan 27
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 03 February 2022. Payment date: 18 February 2022. Payout ratio is a comfortable 8.7% and this is well supported by cash flows. Trailing yield: 2.8%. Within top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (3.6%). Reported Earnings • Jan 25
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹5.88 (down from ₹8.57 in 3Q 2021). Revenue: ₹9.34b (up 58% from 3Q 2021). Net income: ₹814.3m (down 31% from 3Q 2021). Profit margin: 8.7% (down from 20% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Buying Opportunity • Jan 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be ₹263, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% per annum over the last 3 years. Earnings per share has grown by 70% per annum over the last 3 years. Reported Earnings • Oct 24
Second quarter 2022 earnings released: EPS ₹8.66 (vs ₹4.75 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹9.58b (up 97% from 2Q 2021). Net income: ₹1.20b (up 83% from 2Q 2021). Profit margin: 13% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹233, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 11x in the Metals and Mining industry in India. Total returns to shareholders of 157% over the past year. Recent Insider Transactions • Aug 22
Insider recently sold ₹2.4m worth of stock On the 18th of August, Parashuram Navale sold around 9k shares on-market at roughly ₹267 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹4.4m more than they bought in the last 12 months. Recent Insider Transactions • Aug 17
Insider recently sold ₹2.0m worth of stock On the 11th of August, Narayana Paliki sold around 7k shares on-market at roughly ₹285 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Jul 08
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 15 July 2021. Payment date: 13 August 2021. Trailing yield: 2.2%. Within top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (2.7%). Reported Earnings • Jul 07
Full year 2021 earnings released: EPS ₹21.89 (vs ₹8.16 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹20.4b (up 10% from FY 2020). Net income: ₹3.02b (up 169% from FY 2020). Profit margin: 15% (up from 6.1% in FY 2020). Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 19% share price gain to ₹280, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 320% over the past year. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improved over the past week After last week's 17% share price gain to ₹257, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 18x in the Metals and Mining industry in India. Total returns to shareholders of 373% over the past year. Reported Earnings • May 06
Full year 2021 earnings released: EPS ₹21.89 (vs ₹8.16 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹20.4b (up 10% from FY 2020). Net income: ₹3.02b (up 169% from FY 2020). Profit margin: 15% (up from 6.1% in FY 2020). Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₹189, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 324% over the past year. Is New 90 Day High Low • Feb 12
New 90-day high: ₹159 The company is up 72% from its price of ₹92.10 on 13 November 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 38% over the same period. Announcement • Jan 25
Kirloskar Ferrous Industries Limited to Report Q3, 2021 Results on Jan 25, 2021 Kirloskar Ferrous Industries Limited announced that they will report Q3, 2021 results on Jan 25, 2021 Is New 90 Day High Low • Jan 19
New 90-day high: ₹149 The company is up 66% from its price of ₹89.50 on 21 October 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 39% over the same period. Is New 90 Day High Low • Jan 01
New 90-day high: ₹148 The company is up 65% from its price of ₹90.05 on 01 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 36% over the same period. Announcement • Dec 24
Kirloskar Ferrous Industries Limited (BSE:500245) completed the acquisition of Assets relating to the pig iron plant of VSL Steels Limited. Kirloskar Ferrous Industries Limited (BSE:500245) agreed to acquire Assets relating to the pig iron plant of VSL Steels Limited for INR 1.4 billion on September 12, 2020. Under the terms of consideration, the purchase price will be exclusive of applicable taxes, duties and charges thereon and will be financed partly by way of borrowings and partly by way of internal accruals. The deal is subject to board approval from Kirloskar Ferrous Industries Limited and VSL Steels Limited, statutory approval, regulatory approval as well and approval from the Members of VSL Steels Limited. Board of Kirloskar Ferrous Industries Limited approved the deal. The transaction is expected to be completed in two stages.
Kirloskar Ferrous Industries Limited (BSE:500245) completed the acquisition of Assets relating to the pig iron plant of VSL Steels Limited on December 23, 2020. The transaction has received approval of the Board of Directors and the Members of VSL Steels Limited. Is New 90 Day High Low • Dec 10
New 90-day high: ₹144 The company is up 66% from its price of ₹86.80 on 11 September 2020. The Indian market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 25% over the same period. 
