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Kirloskar Oil Engines Q3FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 20 Mar, 2017  | Follow Author | Add to my Favourites 
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  • Incorporated in 1946, Kirloskar Oil Engines Limited (KOEL) is the flagship company of the Kirloskar group.
  • Revenue for the 3rd quarter stood at Rs. 6894.50 mn against Rs. 6501.50 mn, when compared with the prior year period, up by 6.04%.
  • For the quarter ended Q3 FY17, EBITDA was Rs. 755.00 mn as against Rs. 773.80 mn in the corresponding period of the previous year.
  • During Q3 FY17, the company’s net profit stood at Rs. 280.70 mn as against Rs. 287.90 mn in the corresponding quarter ending of previous year.
  • EPS of the company stood at Rs. 1.94 during the quarter, as against Rs. 1.99 per share over previous year period.
  • For the nine months ended December 31, 2016, Net Sales was Rs. 20682.20 mn as compared to Rs. 18666.70 mn in the corresponding period of last year, up by 10.80%.
  • During 9M F Y17, Net Profit increased by 21.01% to Rs. 1294.00 mn from Rs. 1069.30 mn in nine months ended 31St December 2015.
  • Net Sales and Operating Profit of the company are expected to grow at a CAGR of 7% and 5% over 2015 to 2018E respectively.


  • At the current market price of Rs. 390.40, the stock P/E ratio is at 31.44 x FY17E and 27.81 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 12.42 and Rs. 14.04 respectively.
  • Net Sales and Operating Profit of the company are expected to grow at a CAGR of 7% and 5% over 2015 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 14.77 x for FY17E and 13.78 x for FY18E.
  • Price to Book Value of the stock is expected to be at 3.48 x and 3.09 x for FY17E and FY18E respectively.
  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ,, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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