Financial Performance (Consolidated)

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Total Income from Operations: ₹1,557.0 Mn (vs ₹1,559.9 Mn in Q2 FY26) - nearly flat
  • EBITDA: ₹278.9 Mn (vs ₹422.9 Mn in Q2 FY26) - down 34.1%
  • EBITDA Margin: 17.9% (vs 27.1% in Q2 FY26) - 920 bps contraction
  • PAT: ₹165.1 Mn (vs ₹268.8 Mn in Q2 FY26) - down 38.6%
  • PAT Margin: 10.6% (vs 17.2% in Q2 FY26)
  • Reported EPS: ₹2.98 (vs ₹5.45 in Q2 FY26)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Total Income from Operations: ₹2,762.2 Mn (vs ₹2,877.7 Mn in H1 FY26) - down 4.0%
  • EBITDA: ₹521.2 Mn (vs ₹782.4 Mn in H1 FY26) - down 33.4%
  • EBITDA Margin: 18.9% (vs 27.2% in H1 FY26) - 830 bps contraction
  • PAT: ₹295.9 Mn (vs ₹481.9 Mn in H1 FY26) - down 38.6%
  • PAT Margin: 10.7% (vs 16.7% in H1 FY26)
  • Reported EPS: ₹5.35 (vs ₹9.77 in H1 FY26)

Key Challenges Impacting Performance

  • Delayed finalization of large standalone orders
  • Significant carbon black order received but customer execution put on hold, now expected in FY28
  • Lower operating leverage due to reduced standalone business volumes
  • Less favorable product mix compared to Q2 FY26 which benefited from high-margin export order

Order Book Position (Consolidated)

  • Opening Order Book (July 1, 2026): ₹4,852.1 Mn
  • Orders Received (Q2 FY27): ₹1,369.4 Mn
  • Orders Executed (Q2 FY27): ₹1,512.1 Mn
  • Closing Order Book (September 30, 2026): ₹4,709.6 Mn

Mitigation Measures & Recovery Initiatives

  • Actively pursuing enquiry pipeline exceeding ₹25,000 Mn in standalone business and ₹40,000 Mn across the Group
  • Focused on converting qualified opportunities into executable orders
  • Board-approved investment of up to ₹250 Mn for Monga Strayfield's Pune expansion targeting data-center infrastructure and critical-power applications
  • Leveraging subsidiary growth: M.E. Energy benefiting from strong order intake in steel and ferro-alloy sectors; Monga Strayfield scaling its enclosures & cabinets business

Strategic Expansion Plans

  • Investment of ₹250 Mn for precision engineering capacity expansion expected to unlock ₹1,200-1,500 Mn annual revenue potential
  • Expansion designed to support 2.5-3.0x current expected annual revenue at scale
  • Group manufacturing infrastructure being built to support > ₹10,000 Mn annual revenue capacity
  • Expansion expected to be completed by Q3 FY27

Manufacturing Footprint

  • Saravali, Bhiwandi (Thane), Maharashtra: Core process equipment, heavy fabrication, drying systems, pressure vessels & heat exchangers
  • Pune, Maharashtra: Thermal systems, waste heat recovery equipment, industrial heating packages
  • Pune, Maharashtra: RF drying & heating systems, precision manufacturing, R&D
  • Theale, Berkshire, UK: RF technology manufacturing & support for international markets

Historical Financial Performance (Consolidated)

Annual Income Statement Trend

| FY | Total Income | EBITDA | PAT | EPS (₹) |

| FY22 | ₹1,227.5 Mn | ₹129.6 Mn | ₹15.5 Mn | 0.54 |

| FY23 | ₹2,215.3 Mn | ₹346.7 Mn | ₹301.3 Mn | 8.66 |

| FY24 | ₹3,331.4 Mn | ₹800.5 Mn | ₹505.4 Mn | 13.3 |

| FY25 | ₹4,276.2 Mn | ₹1,048.6 Mn | ₹623.9 Mn | 13.94 |

| FY26 | ₹6,432.9 Mn | ₹1,616.3 Mn | ₹962.0 Mn | 19.02 |

Balance Sheet Position (Consolidated)

| Particulars | FY25 | FY26 | H1FY27 |

| Shareholders' Funds | ₹4,725.1 Mn | ₹6,541.1 Mn | ₹7,820.9 Mn |

| Share Capital | ₹474.9 Mn | ₹529.6 Mn | ₹560.0 Mn |

| Non-Current Liabilities | ₹615.8 Mn | ₹462.7 Mn | ₹485.5 Mn |

| Current Liabilities | ₹1,968.3 Mn | ₹1,941.1 Mn | ₹2,307.7 Mn |

| Total Assets | ₹7,309.2 Mn | ₹8,944.9 Mn | ₹10,614.1 Mn |

Business Overview

Kilburn Engineering is evolving from traditional process equipment manufacturer into India's leading industrial process technology provider through:

  • Technology platform consolidation and expansion
  • Industrial productivity and energy transition focus
  • Acquisition-led capability enhancement
  • Scalable capital allocation and cross-selling

The company has 50+ years of experience, 8,000+ installations, serves 500+ machines globally, and caters to 20+ sectors including Chemical & Petrochemicals, Fertilizers, Carbon Black, Pharmaceuticals, Oil & Gas, Nuclear, Power, and Tea & Food.

Forward-Looking Priorities

  • Build Kilburn as India's leading industrial process technology platform with global relevance
  • Successful entry into global fertilizer EPC vendor ecosystem
  • Validated presence in data-center/power infrastructure OEMs
  • Explore new niche application areas leveraging integrated technologies
  • Leverage Indian manufacturing cost advantages relative to global players
  • Maintain focus on both domestic and international markets