Kirloskar Electric Q2 Revenue Up 16% YoY to ₹164 Cr

Revenue from Operations: ₹164.44 crore (16% increase from ₹142.11 crore)
Other Income: ₹1.68 crore (vs ₹5.61 crore)
Total Income: ₹166.12 crore (vs ₹147.72 crore)
EBITDA (including other income): ₹12.45 crore (3% increase from ₹12.05 crore)
EBITDA Margin: 7.6% (vs 8.5%)
Profit Before Tax: ₹6.00 crore (32% increase from ₹4.53 crore)
Tax Expense: ₹0.01 crore (vs ₹0.00 crore)
Profit After Tax: ₹5.99 crore (32% increase from ₹4.53 crore)
Basic EPS: ₹0.90 (vs ₹0.68)

Power Generation/Distribution: Revenue ₹67.11 crore, Segment Result ₹2.41 crore
Rotating Machines: Revenue ₹84.29 crore, Segment Result ₹9.88 crore
Others: Revenue ₹13.89 crore, Segment Result ₹8.42 crore

Preferential Allotment: Company allotted 3,468,007 equity shares of face value ₹10 each at ₹115.34 per share (including premium of ₹105.34) to Kirloskar Power Equipments Limited on September 23, 2026
Total Funds Raised: ₹40 crore
Objects of Issue: Working capital utilization, including repayment/prepayment of existing working capital borrowings
Utilization: ₹5 crore utilized for specified objects, ₹35 crore kept in separate scheduled bank account as of September 30, 2026
Post-issue Paid-up Capital: Increased from ₹66.41 crore to ₹69.88 crore

Merger Completion: Four wholly-owned subsidiaries (Kelbuzz Trading Private Limited, SKG Terra Promenade Private Limited, SLPKG Estate Holdings Private Limited, and Luxquisite Parkland Private Limited) merged with holding company effective April 1, 2024, as approved by NCLT Bengaluru Bench on April 30, 2026
Credit Rating Upgrade: CRISIL upgraded long-term rating from B+/Stable to BB/Stable on October 22, 2026
Banking Facility: Received sanction of ₹100 crore from Kotak Mahindra Bank
Order Inflow: H1 FY27 order inflow of ₹348 crore, representing 18% YoY growth

Tax Penalty Case: Special Leave Petition filed with Supreme Court regarding ₹527 lakh resale tax penalty demand on erstwhile subsidiary Kaytee Switchgear Limited (since merged). Company believes outcome will be favorable and no provision required.
Hubballi Property Monetization:
Agreement to Sell 31.24 acres at Gokul Road, Hubballi for ₹95.12 crore signed on October 3, 2022
Facing delays in change of land use approval from Hubli Dharwad Urban Development Authority
High Court of Karnataka directed Urban Development Department to issue orders within 4 weeks (February 25, 2026 order)
Contempt petition filed on June 2, 2026 due to non-compliance
Government has filed writ appeal against the order
Smaller Property Sale: Sold 1.06 acres at Gokul Road, Hubballi for ₹30 crore on March 20, 2024. Possession handed over on December 26, 2025 after receiving full consideration.

Total Assets: ₹655.64 crore
Non-current Assets: ₹456.17 crore
Current Assets: ₹199.47 crore
Total Equity: ₹172.16 crore
Non-current Liabilities: ₹90.47 crore
Current Liabilities: ₹393.01 crore
Net Worth (after excluding revaluation reserve): Eroded as of reporting date

Statutory auditors K N Prabhashankar & Co. conducted limited review of financial results
Emphasis matters included going concern basis despite eroded net worth, and the ₹527 lakh tax penalty case
No modifications to review opinion

Company prepared financial results on going concern basis despite eroded net worth, citing: