Kirloskar Brothers LimitedQ2 FY27 Results & Financial Update
Kirloskar Brothers Limited: Q2 FY27 consolidated results and company financials – revenue ₹1,276.70 Cr, PAT ₹74.70 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Kirloskar Brothers Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Kirloskar Brothers Limited reported consolidated revenue from operations of INR 1,276.7 crore for the quarter ended September 30, 2026, marking an increase compared to INR 1,104.9 crore recorded in the previous quarter ended June 30, 2026.
Total consolidated income for Q2 FY27 rose to INR 1,295.6 crore, compared to INR 1,119.7 crore in the preceding quarter, supported by higher revenue generation and other income of INR 18.9 crore.
Profit before tax (PBT) for the quarter advanced to INR 104.5 crore from INR 95.1 crore in Q1 FY27, while profit after tax (PAT)—incorporating share in profit/loss of joint venture companies and non-controlling interests—stood at INR 74.7 crore compared to INR 67.6 crore sequentially.
Basic and diluted earnings per share (EPS) for the quarter were reported at INR 9.28, up from INR 8.39 in the June 2026 quarter.
Geographically, revenue from operations within India stood at INR 813.4 crore, while business outside India contributed INR 463.3 crore during the quarter under review.
Total expenses for the quarter increased to INR 1,191.1 crore, driven by cost of materials consumed at INR 670.2 crore, employee benefits expense at INR 211.6 crore, and other expenses at INR 273.9 crore.
The company maintained a stable equity capital structure with paid-up equity share capital at INR 15.9 crore consisting of equity shares of face value Rs. 2 each.
01 · Business model
What does Kirloskar Brothers do?
Kirloskar Brothers Limited is a prominent global fluid management solutions provider, engaged in the design, manufacture, and distribution of a comprehensive range of pumps, valves, and related fluid machinery and systems.
The company serves diverse sectors such as irrigation, power, oil and gas, marine and defence, water supply, building and construction, and industrial process applications through both domestic operations and an extensive international footprint.
Operating through an integrated business model, Kirloskar Brothers leverages multiple manufacturing facilities and subsidiaries across geographies, including significant operations housed under SPP Pumps and various international step-down entities.
The group reports under a single primary operating segment of 'Fluid Machinery and Systems', capturing its unified focus on engineered fluid control and pumping solutions.
02 · Historical context
What shaped the business before this quarter
Previously, pursuant to an NCLT order dated November 3, 2025, the company's step-down subsidiary, The Kolhapur Steel Limited (TKSL), was merged into its wholly owned subsidiary, Karad Projects and Motors Limited (KPML), with an appointed date of October 3, 2024.
Earlier, the Government of India notified the New Labour Codes effective November 21, 2025, prompting the company to recognize past service costs on post-employment defined benefits as an exceptional item in prior periods.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹1,276.70 Cr | ₹1,104.90 Cr |
| Total income | ₹1,295.60 Cr | ₹1,119.70 Cr |
| Profit before tax | ₹104.50 Cr | ₹95.10 Cr |
| Profit after tax | ₹74.70 Cr | ₹67.60 Cr |
| EPS | ₹9.28 | ₹8.39 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 5.9% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 8.2% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹18.90 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
During Q2 FY27, operations within India generated revenue of INR 813.4 crore, whereas overseas markets contributed INR 463.3 crore to the consolidated top line.
Consolidated revenue from operations expanded to INR 1,276.7 crore in Q2 FY27 from INR 1,104.9 crore in Q1 FY27, reflecting increased execution and delivery across fluid machinery lines.
What drove margins
Cost of materials consumed was reported at INR 670.2 crore for the quarter, alongside purchases of stock-in-trade of INR 26.8 crore and changes in inventories of finished goods and work-in-progress of INR (30.1) crore.
Employee benefits expenses stood at INR 211.6 crore, while other operating expenses were recorded at INR 273.9 crore for the quarter.
Finance costs for the quarter were registered at INR 9.8 crore, and depreciation and amortization expenses amounted to INR 28.9 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The group operates in a single reporting segment of 'Fluid Machinery and Systems' as per Ind AS 108, encompassing all manufacturing and marketing of pumps, valves, and systems.
Geography and market mix
Domestic revenue reached INR 813.4 crore and international revenue reached INR 463.3 crore during the quarter. Non-current assets outside India stood at INR 1,823 million compared to INR 7,437 million within India as of September 30, 2026.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Property, plant and equipment stood at INR 6,344 million and capital work-in-progress was reported at INR 545 million as at September 30, 2026 on a consolidated basis.
07 · Reported developments
What changed operationally
Note 3 of the standalone results mentions that the company received a dividend from its group company of INR 22.500 million during the quarter ended September 30, 2026.
08 · Items worth noticing
The line items that can distort a quick read
Tax expense for the quarter was reported at INR 29.3 crore, comprising current tax of INR 29.7 crore offset by deferred tax of INR (0.4) crore. Other income for the quarter stood at INR 18.9 crore.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
For the half year ended September 30, 2026, net cash used in operating activities was INR 580 million, net cash from investing activities was INR 1,017 million, and net cash used in financing activities was INR 473 million.
Capital allocation & funding
As at September 30, 2026, consolidated non-current borrowings stood at INR 532 million, while current borrowings were recorded at INR 1,595 million.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Review Scope
The financial results for the quarter and half-year ended September 30, 2026, have been subjected to a limited review by statutory auditors Sharp & Tannan Associates LLP.
11 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue rose from INR 1,104.9 crore in Q1 FY27 to INR 1,276.7 crore in Q2 FY27, with corresponding increases in PBT from INR 95.1 crore to INR 104.5 crore and PAT from INR 67.6 crore to INR 74.7 crore.
12 · Key Q&A
The quarter, answered directly
What does Kirloskar Brothers do?
Kirloskar Brothers Limited is a prominent global fluid management solutions provider, engaged in the design, manufacture, and distribution of a comprehensive range of pumps, valves, and related fluid machinery and systems.
What is the clearest takeaway from Q2 FY27?
Kirloskar Brothers Limited reported consolidated revenue from operations of INR 1,276.7 crore for the quarter ended September 30, 2026, marking an increase compared to INR 1,104.9 crore recorded in the previous quarter ended June 30, 2026.
What drove revenue or demand?
During Q2 FY27, operations within India generated revenue of INR 813.4 crore, whereas overseas markets contributed INR 463.3 crore to the consolidated top line.
What mattered most for margins or profitability?
Cost of materials consumed was reported at INR 670.2 crore for the quarter, alongside purchases of stock-in-trade of INR 26.8 crore and changes in inventories of finished goods and work-in-progress of INR (30.1) crore.
What changed operationally beyond the headline numbers?
Property, plant and equipment stood at INR 6,344 million and capital work-in-progress was reported at INR 545 million as at September 30, 2026 on a consolidated basis.
What should the next disclosure help confirm?
Monitor subsequent quarterly filings and performance updates for order book execution trends across domestic and international segments.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Upcoming Financial Disclosures: Monitor subsequent quarterly filings and performance updates for order book execution trends across domestic and international segments.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.