Kirloskar Oil reports PAT of Rs 69 crore in Q2; EBITDA margin at 10.3%

EBITDA declined by 5% to Rs 109 crore in Q2 FY24 from Rs 115 crore in Q2 FY23. EBITDA margin was at 10.3% for Q2 FY24 as against 11.4% for Q2 FY23

Cash and cash equivalents as on 30 September 2023 stood at Rs 112 crore.

Gauri Kirloskar, managing director, KOEL, said This quarter, KOEL has shown steady growth, with a 5% year-on-year increase in topline for the quarter and 19% top line growth in H1. Our B2B segment has a solid order backlog, including CPCB II and CPCB IV+ genset orders.

We are preparing for the next emission norms for industrial engines as well. We recently launched the Optiprime and Optiprime hybrid genset series, marking our entry into the HHP (>1500kVA up to 3000kVA) range. We are receiving good enquiries for these products.

On the B2C front, our efforts to stabilize the business have led to improved segment margins as compared to last year.

Kirloskar Oil Engines is a leader in the manufacturing of diesel engines, agricultural equipment, and generator sets with a sizable presence in international markets.

The scrip rose 0.76% to end at Rs 562.90 on the BSE today.

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