Share price of Kirloskar Pneumatic Co. fell 11.46% to Rs 525.95, compared to a 0.01% downturn of the NSE Nifty 50, after the company announced its financial results for the second quarter of the fiscal 2026-27, via an exchange filing on Tuesday.
The company's shares steadied their decline by 9.45% to Rs 537.55 later in trade.
ALSO READ: Kirloskar Pneumatic Q2 Results: Profit Falls 8%, Revenue Drops Over 15%; Margin Contracts
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Kirloskar Pnemumatics Q2 Results
The firm reported an 8% decline in consolidated net profit for the September quarter. Lower sales and a sharp fall in operating profit weighed on earnings, and a one-time gain from a land deal only partly made up for that.
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Profit attributable to shareholders was Rs 40 crore in the second quarter of fiscal 2027, down from Rs 43.5 crore a year earlier, according to an exchange filing on Tuesday.
Kirloskar Pneumatic Q2 FY27 Highlights (Consolidated, YoY)
- Revenue down 15.6% at Rs 326.3 crore vs Rs 386.4 crore.
- Ebitda down 30.4% at Rs 40.7 crore vs Rs 58.5 crore.
- Ebitda margin at 12.5% vs 15.1%.
- Net profit down 8% at Rs 40 crore vs Rs 43.5 crore.
The bottom line included an exceptional gain of Rs 11 crore. Maharashtra State Infrastructure Development Corporation acquired 7,200 square metres of the company's land in Nashik for a proposed ring road project. Without that gain, profit before exceptional items and tax fell 31% to Rs 39.5 crore from Rs 57.4 crore a year ago.
Employee costs rose even as sales fell, with employee benefit expenses increasing nearly 14% to Rs 56.9 crore.
Revenue from the mainstay compression systems business fell 13.4% to Rs 307.1 crore, and the segment's profit dropped by a similar margin to Rs 61.5 crore. Revenue from the company's other businesses shrank 39% to Rs 19.2 crore.
Compared with the previous quarter, revenue rose 7.7% and profit was up about 20%.
For the first half of the fiscal, revenue declined 5.8% to Rs 629.4 crore, while profit attributable to shareholders rose 4.7% to Rs 73.4 crore.
The board also approved the allotment of 9,700 equity shares to employees under the company's 2019 stock option scheme. This takes the paid-up share capital to about Rs 13 crore.
During the quarter, the company bought a 99.49% stake in Kirloskar South East Asia Co. for about Rs 4.9 crore, making it a subsidiary. Earlier in the fiscal, it took its holding in Systems and Components India Pvt. to 100% for Rs 12.6 crore.
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