Latest news with #KirloskarFerrousIndustries
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Business Standard
23-07-2025
- Business
- Business Standard
This Kirloskar group stock jumps 6% on winning Jambunatha Iron Ore Mine bid
Kirloskar Ferrous Industries shares jumped 6.2 per cent, logging an intraday high at ₹614 per share on the BSE. At 9:50 AM, Kirloskar Ferrous Industries' share price was trading 2.75 per cent higher at ₹593.65 per share on BSE. In comparison, the BSE Sensex rose 0.2 per cent to 82,353.08. The market capitalisation of the company stood at ₹9,774.53 crore. The 52-week high of the company stood at ₹830 per share, and the 52-week low was at ₹423. Why were Kirloskar Ferrous Industries shares buzzing in trade? The buying interest on the counter came after the company was declared as the preferred bidder in the electronic auction of an iron ore mine by the Department of Mines and Geology, Government of Karnataka. The bidding was for Jambunatha Iron Ore Mine. "As per the letter dated July 22, 2025, issued by the Office of the Director, Department of Mines and Geology, Government of Karnataka, the Company has been declared as 'Preferred Bidder' in respect of the electronic auction conducted on January 27, 2025, for 'Jambunatha Iron Ore Mine' based on the highest final price offer submitted by the company," the filing read. The grant of the mining lease is subject to required payments, fulfillment of tender conditions, obtaining necessary approvals and clearances from relevant authorities, and execution of related agreements. About Kirloskar Ferrous Industries Kirloskar Ferrous Industries), a part of Kirloskar Group, manufactures pig iron, castings, and seamless tubes. The company has built a strong presence with manufacturing facilities in Karnataka and Maharashtra, and has expanded further following its merger with ISMT. The company's product portfolio spans pig iron (used across foundry and steel industries), grey and S.G. iron castings (such as cylinder blocks and heads), as well as alloy steel and seamless tubes that cater to a wide range of industries including automotive, agriculture, construction, and engineering. Known for its integrated operations—from mining to finished tubular components—the company combines scale with precision and innovation. It has also adopted advanced manufacturing technologies, including 3D printing for rapid prototyping and captive power generation through waste-heat recovery.
Economic Times
10-07-2025
- Business
- Economic Times
Capex, cost cuts spark turnaround hopes for Kirloskar Ferrous
Shares of Kirloskar Ferrous Industries have rebounded 29% in the last three months thereby reducing the one-year fall to 22%. Analysts are optimistic about the company's capacity expansion and cost‐saving initiatives. It has planned a capital expenditure of Rs 500–600 crore for the current financial year, directed largely towards expanding the steel plant and enhancing renewable energy capacity. ADVERTISEMENT The company has sold nearly 600 tonnes of castings from its recently commissioned Oliver foundry in Punjab and expects to increase production to 1,500 tons per month in the coming months. Castings remain the company's dominant segment, contributing 43 percent to total revenue as of March 2025 followed by the tube business at 23 percent and steel products at 18 percent. Management expects that enhancing backward integration, including ramping up captive iron‐ore mining, will further bolster margins and shield the company from raw‐material volatility. The company was able to expand earnings from the pig‐iron segment despite a downturn in benchmark prices due to lower coking‐coal costs and in‐house iron‐ore supply from Kirloskar Bharat mines. 'We expect to increase our own iron ore consumption in this year and thereby get more benefits in terms of reduced iron ore cost,' said RV Gumaste, MD, Kirloskar Ferrous during the earnings call after declaring March quarter numbers on May 09. For FY26, the company expects to consume at least 250,000 tonnes of its own ore compared with 57,000 tonnes in the previous year, unlocking substantial savings on one of its biggest cost a bid to enhance green energy initiatives, it plans to double the solar power capacity to 55-60 megawatts (MW) in FY26. The company aims to add 12.6 MW of wind power and 35 MW of solar capacity in the current financial year, with another 50-60 MW of solar planned for the next financial headwinds in raw‐steel and pig‐iron prices, the company is confident of sustaining 14-16 percent operating margin before depreciation and amortization (EBITDA margin) in both its casting and tube divisions. 'We continue to work on two fronts, cutting manufacturing costs and shifting mix toward higher‐value products,' Gumaste explained. ADVERTISEMENT 'Kirloskar Ferrous continues to remain well paced on margin expansion path amidst new projects underway to reduce raw material cost, coupled with margin accretive product profile,' JM Financial Institutional Securities said in a report. The broking firm has maintained a 'Buy' call on the stock. However, it has reduced the price target by 17% to Rs 610 and lowered earnings forecast by 22% for FY26, citing lower volume growth. The stock was traded at Rs582 on Thursday on the BSE. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Standard
09-05-2025
- Business
- Business Standard
Kirloskar Ferrous rises as Q4 PAT spurts 417% YoY to Rs 92 cr
Kirloskar Ferrous Industries rose 3.35% to Rs 490.85 after the company reported a 416.97% year-on-year (YoY) surge in consolidated net profit to Rs 92.33 crore in Q4 FY25, supported by a 13.09% increase in revenue from operations to Rs 1,736.95 crore Profit before tax was at Rs 123.66 crore in the fourth quarter of FY25, up 243.5% compared to Rs 36 crore recorded in the corresponding quarter the previous year. Total expense jumped 11.03% year on year to Rs 1,637.68 crore during the quarter. The cost of materials consumed was Rs 917.86 crore (up 5.97% YoY), while other expenses stood at Rs 426.84 crore (up 3.86% YoY) during the period under review. On a full-year basis, the company's net profit fell 1.22% to Rs 294.04 crore on a 6.8% rise in revenue to Rs 6,564.23 crore in FY25 over FY24. Meanwhile, the company's board has recommended the final dividend of Rs 2.50 per equity share of Rs 5 each for the financial year 20242025 for approval of the members of the company at the ensuing annual general meeting. Additionally, the board approved seeking shareholder approval to raise up to Rs 1,000 crore through the issuance of non-convertible debentures (NCDs) in one or more tranches. Kirloskar Ferrous Industries is one of India's largest castings and pig iron manufacturers. The company caters to various industry sectors, such as tractors, automobiles and diesel engines.
Business Standard
09-05-2025
- Business
- Business Standard
Kirloskar Ferrous Industries consolidated net profit rises 417.02% in the March 2025 quarter
Sales rise 13.09% to Rs 1736.95 crore Net profit of Kirloskar Ferrous Industries rose 417.02% to Rs 92.34 crore in the quarter ended March 2025 as against Rs 17.86 crore during the previous quarter ended March 2024. Sales rose 13.09% to Rs 1736.95 crore in the quarter ended March 2025 as against Rs 1535.92 crore during the previous quarter ended March 2024. For the full year,net profit declined 1.26% to Rs 294.03 crore in the year ended March 2025 as against Rs 297.79 crore during the previous year ended March 2024. Sales rose 6.80% to Rs 6564.23 crore in the year ended March 2025 as against Rs 6146.29 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 1736.951535.92 13 6564.236146.29 7 OPM % 11.5910.75 - 11.5214.03 - PBDT 190.28134.79 41 664.32755.60 -12 PBT 123.6662.59 98 408.49516.22 -21 NP 92.3417.86 417 294.03297.79 -1
