The B2B segment, offering fuel-agnostic gensets, industrial engines, and customised power systems, generates maximum revenue. A Financial Services segment (AFHPL) contributed ₹876.7 crore in revenue with Assets Under Management reaching ₹7,947 crore by March 2026. The company strengthened its debt-to-equity ratio from 4.4 in FY25 to 3.7 in FY26.
Cyborg Score Rationale
The company achieved highest-ever B2B revenues with consolidated annual sales reaching ₹7,641 crore, marking 22% year-on-year growth. Consolidated PAT grew 18% to ₹562.5 crore annually, with Q4 PAT up 23% year-on-year to ₹155.2 crore. Strong operational execution and balance sheet management demonstrate solid fundamentals.
Top Insights
Market capitalization reached ₹24,291 crore (up 95.8% in 1 year) with record sales and strong capex plans announced (May 2026).
Company incorporated wholly-owned subsidiary 'Kirloskar Advanced Systems Private Limited' effective March 30, 2026 to expand operations.
Maintained strong double-digit EBITDA margins of 13.1% for the full year despite competitive pressures.
Established in 1888 with headquarters in Pune and 4,477 employees; long operational history provides competitive moat.
Named Competitors
Kirloskar Brothers — Engine and power equipment manufacturer
Cummins — Global diesel and genset provider
Kohler Power — Power generation and engine systems
Recent Developments
(May 2026) Wholly-owned subsidiary KASPL received business commencement approval after ₹9 crore subscription
(May 2026) Q4 FY26 earnings call transcript released, covering record sales and growth outlook
(March 2026) FY2026 consolidated revenue reached ₹7,701 crore with PAT of ₹562.5 crore (18% YoY growth)
(March 2026) Incorporated Kirloskar Advanced Systems Private Limited as wholly-owned subsidiary
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