 "economic growth manufacturing")
Shares of Kirloskar Industries surged up to 18.52 per cent, at Rs 6,249 a piece on the BSE in intraday deals. The stock price jumped after the company on Wednesday reported its April-June quarter of financial year 2024-25 (Q1FY25).
For the first quarter of FY25, the company’s revenue from operations stood at Rs 1,558.96 crore, representing a 3.4 per cent increase from Rs 1,508 crore in Q1 FY24. However, the company's net profit fell to Rs 28.54 crore, a 29.5 per cent decrease from Rs 40.46 crore in the same period last year.
Total expenses for the quarter were Rs 1,475 crore, up 7.2 per cent from Rs 1,376 crore in the corresponding quarter of the previous year.
In a separate filing, the company also informed that merger of ISMT Limited with Kirloskar Ferrous Industries and their respective shareholders became effective on 8 August 202.
“The Audit Committee and the Board of Directors in their respective meeting held today i.e., on 14 August 2024, have noted that upon the Scheme becoming effective, KFIL will continue to be a subsidiary of the company and accounts of KFIL will continue to be consolidated in the book of accounts of the company in accordance with applicable laws,” the company said.
Kirloskar Industries has a total market capitalisation of Rs 5,671.95 crore. The company’s shares are presently trading at a price to earnings multiple of 70.18 times with an earning per share of Rs 75.12 per share.
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The share price of the company has zoomed 62.40 per cent year to date, while it has gained 58 per cent in the last one year
At 02:19 PM; the stock price of the company was trading 9.19 per cent higher at Rs 5,756.90 per share on the BSE. By comparison the BSE Sensex surged by 0.24 per cent at 79,147 levels.
Kirloskar Industries manufactures internal combustion engines, including diesel engines, irrigation pumpsets, diesel generating sets, engine bearings, engine valves, and gray iron castings.
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