Kirloskar Pneumatic Company (KPCL)’s revenue from operations was recorded at Rs 1,239.34 crore compared to Rs 1,021.18 crore in FY22 registering over 21 per cent growth in FY23.
The company’s EBITDA improved to Rs 177 crores compared to Rs 151.45 cr registering about 16.9 per cent growth over FY22. With negligible interest cost in the current year, Profit Before Tax (PBT) was at Rs 143.28 crore (11.4 per cent of total income) compared to INR 114.12 Cr (11 per cent) in FY22, registering a growth of over 25 per cent.
Profit After Tax (PAT) improved to 8.7 per cent of the total income and stood at Rs 108.58 crore compared to Rs 84.92 crore representing 8.2 per cent in FY 22.
KPCL, a major player in the air, refrigeration & gas compression business in India, announced its financial results for the financial year FY23 on Friday.
Sales and PBT for the year showed growth over corresponding achievements of the previous year by over 21 per cent and 25 per cent respectively. Net Profit increased by over 27 per cent.
The growth in Sales was mainly driven by the export of gas and refrigeration packages to the middle east region. While the demand for compressors for Oxygen packages was muted during the year as Covid was under control, rising prices in the domestic gas market impacted the need for CNG packages. Despite this domestic sales grew by over 12 per cent made up of reciprocating and centrifugal compressors packages and gear business.
The new launches – Calana, the Booster compressor introduced during the year to address the requirement of off-line gas stations, were well received and we have a strong order pipeline for scale-up.
The order bank as of 31 March 2023 stood at Rs 1,150 crore, lower by almost 100 crore than last year. We have since received two large orders for Rs 180 crore. This bodes well for FY24 growth plans.
The company declared a final dividend of Rs per share taking the overall dividend to Rs 5.50 per share. The company has also been listed on the National Stock Exchange (NSE) from 26 April 2023.
