Kirloskar Ferrous Industries Limited, India’s largest castings and pig iron manufacturer, announced its financial results for the third quarter and nine months of the financial year 2022, ended 31st December 2021.
Commenting on the Q3 FY 2022 results, R V Gumaste, Managing Director, KFIL, said “Q3 has been a steady quarter. The revenue growth was 58% at Rs 933.20 crore, EBITDA at Rs 137.9 crore was lower by 5% year on year. With the continued uptrend in commodity prices, we see the pressure on our margins. However, we have been able to maintain tight control on our costs to keep the margin impact lower. On the expansion plan, we are on track on all our projects.”
Board of Directors at its meeting held today has declared an Interim Dividend of Rs 2.50 per equity share of Rs 5 each (i.e., 50 percent) for financial year 2021-2022.
Review of Q3 FY 2021-22 Financial Performance:
Operating revenue at Rs 933.2 crore for Q3 FY22 vs Rs 958.4 crore for Q2 FY22 3% decrease Q-o-Q and 58% increase Y-o-Y.
EBITDA at Rs 137.9 crore for Q3 FY22 vs Rs 186.9 crore for Q2 FY22 26% decrease Q-o-Q and 5% decrease Y-o-Y.
EBITDA margin at 15% for Q3 FY22 vs 20% Q2 FY22 and 25% Q3 FY21.
PBT at Rs 110.2 crore for Q3 FY22 vs Rs 160.6 crore for Q2 FY22 31% decrease Q-o-Q, 8% decrease Y-o-Y.
PAT at Rs 81.4 crore for Q3 FY22 vs Rs 119.8 crore for Q2 FY22 32% decrease Q-o-Q, 31% decrease Y-o-Y.
Review of 9 Mo FY 2021-22 Financial Performance:
Please note that due to COVID 19 lockdown last year, the plant was non-operational for 45 days. Also, Hiryur plant was commissioned in February 2021. This has resulted in lower base of 9 Mo FY21.
Operating revenue at Rs 2,714.4 crore for 9 Mo FY22 vs Rs 1,289.4 crore for 9 Mo FY21; 110.5% increase Y-o-Y.
EBITDA at Rs 537.3 crore for 9 Mo FY22 vs Rs 267.6 crore for 9 Mo FY21; 101% increase Y-o-Y.
EBITDA margin at 20% for 9 Mo FY22 vs 21% 9 Mo FY21.
PBT at Rs 457.2 crore for 9 Mo FY22 vs Rs 192.2 crore for 9 Mon FY21 138% increase Y-o-Y.
PAT at Rs 340.8 crore for 9 Mo FY22 vs Rs 166.8 crore for 9 Mo FY21 104% increase Y-o-Y.