Kirloskar Ferrous Industries Limited, one of the leading castings and pig iron manufacturers in India, announced its unaudited financial results for the third quarter ended December 31, 2023.

R. V. Gumaste, Managing Director, KFIL, said, "This quarter, we achieved a 10 per cent revenue growth over previous quarter despite of the lower realisations on pig iron and slowdown in the tractor industry. With the completion of major maintenance on our MBFs in the last quarter, we have returned to full production capacity this quarter. All critical projects are on track. Regarding the KFIL-ISMT merger, we are in the process of getting approval as per the NCLT orders. We anticipate completing it in accordance with statutory and regulatory requirements."

Review of Standalone Q3 FY 2023-24 Financial Performance:

• Operating revenue at RS 968.0 crore for Q3 FY24 vs RS 879.8 crore for Q2 FY24; 10 per cent increase Q-o-Q
• EBITDA* at RS 126.9 crore for Q3 FY24 vs RS 132.7 crore for Q2 FY24; 4 per cent decrease Q-o-Q
• EBITDA* margin at 13 per cent for Q3 FY24 vs 15 per cent Q2 FY24
• PBT at RS 70.0 crore for Q3 FY24 vs RS 75.9 crore for Q2 FY24; 8 per cent decrease Q-o-Q
• PAT at RS 51.7 crore for Q3 FY24 vs RS 56.9 crore for Q2 FY24; 9 per cent decrease Q-o-Q

Review of Consolidated Q3 FY 2023-24 Financial Performance:

• Operating revenue at Rs 1,548.2 crore for Q3 FY24 vs Rs 1,559.7 crore for Q2 FY24; 1 per cent decrease Q-o-Q
• EBITDA* at RS 232.0 crore for Q3 FY24 vs RS 252.3 crore for Q2 FY24; 8 per cent decrease Q-o-Q
• EBITDA* margin at 15 per cent for Q3 FY24 vs 16 per cent Q2 FY24
• PBT (before exceptional Item) at RS 147.9 crore for Q3 FY24 vs RS 169.8 crore for Q2 FY24; 13 per cent decrease Q-o-Q
• PAT at RS 105.3 crore for Q3 FY24 vs RS 81.7 crore for Q2 FY24; 29 per cent increase Q-o-Q