KOEL Highlights Consistent Q2 and H1 FY 2024 Revenue Growth: Standalone Q2 Up 5%, H1 Up 19% YoY

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Kirloskar Oil Engines Limited (KOEL) (BSE: 533293; NSE: KIRLOSKAR (KIRLOSENG) releases unaudited financial results for Q2 and H1 FY 2024, ending september 30, 2023, demonstrating strong international market presence.

Gauri Kirloskar, Managing Director of KOEL, commented on the Q2 results, saying, 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. Seeing progress across all our strategic pillars, I am assured that we are on course to achieve our strategic growth objectives.”

Q2 FY 24 Standalone Financial Highlights: Net Sales Increase 5% YoY to INR 1,305 Cr, EBITDA Declines 5% to INR 109 Cr, Net Profit Slips 5% to INR 69 Cr, Cash & Equivalents Total INR 112 Cr (Excluding Debt).

Highlights of H1 FY 24 Standalone Financial Performance: Net Sales Increase 19% YoY to INR 2,303 Cr, EBITDA Increases 24% to INR 271 Cr, Net Profit Increases 31% to INR 180 Cr, with an EBITDA Margin of 11.7%.

Consolidated Financial Performance Review for Q2 FY 24: Revenue from Operations Increases 6% YoY to INR 1,305 Cr, and Net Profit Increases 7% to INR 88 Cr.

H1 FY 24 Consolidated Financial Performance Review: Revenue from Operations Surges 18% YoY to INR 2,848 Cr, and Net Profit Shows a Strong 35% Increase, Reaching INR 222 Cr.

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