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Anand Rathi Report
Kirloskar Oil Engines Ltd. made a good start to FY23. Q1 consolidated revenue/profit after tax grew ~45%/~154% YoY with a 14.5% Ebitda margin.
With government focus on infrastructure and Atma Nirbhar, and strong end-user demand pick-up, we expect better growth in the medium to longer term.
Further, its efforts regarding exports (aiming at 15-18% growth) and better business to consumer margins (higher demand and prices) would prove to be the additional kicker.
Hence, strong demand across segments, a sharper focus on exports and efforts to enhance its presence augurs well for Kirloskar Oil Engines in coming years. The new leadership (Managing Director, Chief Executive Officer-business-to-business, CEO-B2C) would bring a fresh vision and focus.
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