KOEL, one of the flagship companies of the Kirloskar group, manufactures and services diesel engines and diesel generator sets. The company also makes diesel, petrol and kerosene-based pump sets. It has manufacturing units in Pune, Kagal, and Nashik. The company caters to the agriculture, power generation, and industrial sectors.[1]
Products and Brands[1]B2B SegmentEngines and Gensets, Industrial Engines, Power Solutions for Large / Institutional, Project Clients (Marine, Defence etc), After Sales Support, Retail Channel – Tractor spares, Oil, Batteries.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Cummins India | 4147.90 | 49.91 | 115011.81 | 1.24 | 622.33 | 38.49 | 3170.27 | 26.38 | 36.32 | 11643.62 | 20.97 | 2304.50 | 622.33 | 14.56 | 20.85 | 0.00 |
| 2. | Kirloskar Oil | 1221.50 | 40.90 | 17759.05 | 0.53 | 140.80 | 26.79 | 1604.52 | 34.34 | 18.37 | 5625.24 | 12.32 | 434.21 | 140.80 | 5.58 | 9.73 | 0.03 |
| 3. | Elgi Equipments | 472.05 | 38.41 | 14964.50 | 0.47 | 121.40 | 28.17 | 968.00 | 11.41 | 21.91 | 3675.19 | 14.43 | 389.58 | 121.40 | 7.45 | 11.93 | 0.26 |
| 4. | KSB | 753.15 | 49.90 | 13103.39 | 0.53 | 67.50 | 9.40 | 649.60 | 5.37 | 23.82 | 2638.10 | 12.98 | 262.60 | 67.50 | 8.54 | 11.19 | 0.00 |
| 5. | Kirl. Brothers | 1629.20 | 32.68 | 12943.70 | 0.43 | 72.20 | -27.77 | 1027.70 | -0.78 | 27.59 | 4432.20 | 12.98 | 396.05 | 69.07 | 5.86 | 11.89 | 0.10 |
| 6. | Ingersoll-Rand | 3394.70 | 40.49 | 10714.99 | 2.36 | 60.35 | 0.00 | 321.94 | -0.05 | 60.02 | 1341.12 | 25.05 | 264.65 | 60.35 | 16.49 | 30.02 | 0.02 |
| 7. | Shakti Pumps | 731.80 | 22.48 | 9031.51 | 0.14 | 90.71 | -10.56 | 666.35 | 5.00 | 55.31 | 2602.94 | 22.97 | 401.82 | 90.71 | 5.55 | 23.88 | 0.38 |
| – | Median: 14 Co. | 799.02 | 40.7 | 7944.22 | 0.53 | 63.92 | 4.69 | 594.62 | 6.97 | 25.7 | 2200.46 | 13.96 | 263.62 | 63.92 | 5.83 | 11.91 | 0.09 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,000 | 1,135 | 1,164 | 1,265 | 1,343 | 1,445 | 1,153 | 1,392 | 1,412 | 1,010 | 1,059 | 1,194 | 1,605 |
Expenses | 891 | 1,002 | 1,046 | 1,110 | 1,144 | 1,254 | 1,052 | 1,213 | 1,242 | 895 | 960 | 1,029 | 1,390 |
Operating Profit | 109 | 133 | 118 | 154 | 199 | 190 | 101 | 179 | 171 | 115 | 99 | 165 | 214 |
Other Income | 6 | 6 | 6 | 7 | 9 | 12 | 9 | 8 | 29 | 5 | 6 | 12 | 12 |
Profit before tax | 92 | 111 | 89 | 139 | 181 | 165 | 88 | 158 | 163 | 98 | 79 | 148 | 188 |
Tax % | 26% | 26% | 27% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 25% | 25% |
Net Profit | 68 | 82 | 65 | 103 | 135 | 123 | 65 | 118 | 121 | 73 | 59 | 111 | 141 |
EPS in Rs | 4.71 | 5.67 | 4.48 | 7.13 | 9.29 | 8.45 | 4.48 | 8.11 | 8.34 | 5.02 | 4.04 | 7.65 | 9.69 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 2,319 | 2,507 | 2,463 | 2,670 | 2,832 | 3,203 | 2,877 | 2,694 | 3,300 | 4,116 | 4,851 | 5,113 | 5,625 |
Expenses | 2,015 | 2,258 | 2,186 | 2,388 | 2,567 | 2,851 | 2,636 | 2,411 | 3,031 | 3,689 | 4,286 | 4,463 | 4,932 |
Operating Profit | 304 | 249 | 277 | 283 | 265 | 351 | 242 | 284 | 269 | 427 | 565 | 650 | 693 |
Other Income | 38 | 58 | 49 | 83 | 69 | 61 | 54 | 16 | 77 | 27 | 27 | 59 | 59 |
Interest | 0 | 0 | 9 | 3 | 3 | 4 | 4 | 6 | 6 | 5 | 8 | 12 | 13 |
Depreciation | 98 | 102 | 111 | 111 | 109 | 73 | 67 | 62 | 77 | 85 | 97 | 117 | 135 |
Profit before tax | 243 | 205 | 205 | 252 | 222 | 336 | 225 | 231 | 263 | 364 | 487 | 580 | 605 |
Net Profit | 178 | 143 | 165 | 174 | 150 | 225 | 170 | 170 | 208 | 270 | 362 | 432 | 450 |
EPS in Rs | 12.34 | 9.90 | 11.43 | 12.01 | 10.38 | 15.56 | 11.78 | 11.74 | 14.38 | 18.67 | 24.95 | 29.75 | 30.96 |
Dividend Payout % | 41% | 51% | 44% | 42% | 48% | 32% | 34% | 34% | 28% | 27% | 24% | 22% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 |
Reserves | 1,238 | 1,313 | 1,415 | 1,588 | 1,608 | 1,746 | 1,801 | 1,954 | 2,111 | 2,303 | 2,594 | 2,947 | 3,154 |
Borrowings | 0 | 0 | 7 | 12 | 16 | 13 | 16 | 79 | 98 | 81 | 212 | 175 | 97 |
Other Liabilities | 584 | 591 | 519 | 540 | 605 | 639 | 612 | 781 | 775 | 927 | 1,087 | 1,157 | 1,467 |
Total Liabilities | 1,851 | 1,932 | 1,970 | 2,170 | 2,259 | 2,427 | 2,458 | 2,844 | 3,012 | 3,340 | 3,921 | 4,308 | 4,747 |
Fixed Assets | 543 | 514 | 475 | 440 | 422 | 399 | 362 | 446 | 450 | 425 | 491 | 811 | 867 |
Gross Block | 1,179 | 1,249 | 1,306 | 1,360 | 1,441 | 1,466 | 1,490 | 1,628 | 1,699 | 1,742 | 1,893 | 2,243 | – |
Accumulated Depreciation | 636 | 736 | 831 | 921 | 1,018 | 1,067 | 1,128 | 1,183 | 1,249 | 1,317 | 1,402 | 1,431 | – |
CWIP | 42 | 21 | 29 | 15 | 30 | 41 | 74 | 55 | 39 | 66 | 243 | 96 | 108 |
Investments | 608 | 876 | 793 | 990 | 931 | 994 | 1,101 | 1,534 | 1,672 | 1,693 | 1,876 | 1,787 | 1,880 |
Other Assets | 658 | 521 | 673 | 725 | 876 | 993 | 920 | 809 | 850 | 1,156 | 1,311 | 1,613 | 1,892 |
Total Assets | 1,851 | 1,932 | 1,970 | 2,170 | 2,259 | 2,427 | 2,458 | 2,844 | 3,012 | 3,340 | 3,921 | 4,308 | 4,747 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 338 | 339 | 98 | 172 | 167 | 146 | 228 | 526 | 194 | 260 | 434 | 490 |
Cash from Investing Activity | -224 | -282 | 81 | -190 | 8 | -59 | -159 | -545 | -899 | -156 | -418 | -313 |
Cash from Financing Activity | -84 | -84 | -176 | 2 | -130 | -94 | -115 | 33 | 708 | -101 | 50 | -193 |
Net Cash Flow | 29 | -27 | 3 | -15 | 45 | -6 | -47 | 14 | 3 | 4 | 66 | -16 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 28 | 8 | 24 | 27 | 42 | 40 | 46 | 48 | 44 | 41 | 43 | 46 |
Inventory Days | 43 | 39 | 49 | 49 | 53 | 43 | 58 | 56 | 48 | 61 | 59 | 54 |
Days Payable | 88 | 76 | 82 | 77 | 84 | 67 | 68 | 106 | 81 | 83 | 82 | 71 |
Cash Conversion Cycle | -17 | -30 | -10 | -0 | 11 | 16 | 37 | -2 | 11 | 20 | 20 | 29 |
Working Capital Days | -5 | -24 | 8 | 20 | 21 | 12 | 31 | -10 | 1 | 8 | 2 | 10 |
ROCE % | 20% | 14% | 13% | 13% | 11% | 17% | 10% | 12% | 10% | 15% | 18% | 18% |
Direct from BSE filings, auto-summarised
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Stock Analysis
KOEL manufactures and services diesel engines and diesel generator sets, also producing pump sets. The company serves agriculture, power generation, and industrial sectors with manufacturing units in Pune, Kagal, and Nashik.
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