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Kirloskar Electric Co. Ltd.
(KECL)
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Rating:57Neutral
Price Target:
₹127.00
▲(25.80% Upside)
Action:Reiterated
Date:07/28/26
The score is primarily held back by weakened FY2026 cash generation (near-zero free cash flow) and volatile profitability despite improving revenue. Technicals are supportive with the stock trading above major moving averages, but the high P/E (~60) reduces the valuation component and raises the bar for sustained earnings and cash-flow improvement.
Positive Factors
Revenue Recovery
The FY2026 revenue rebound indicates renewed demand across KECL’s electrical equipment activities after the prior-year setback. If sustained, improving sales can support better capacity utilization, strengthen customer relationships, and provide a foundation for recovering operating profitability over the next several quarters.
Negative Factors
Weak FY2026 Cash Conversion
Near-zero free cash flow weakens the quality of FY2026 earnings and limits internally generated funding for investment, debt reduction, and shareholder returns. The sharp decline from positive free cash flow in FY2024–FY2025 also suggests that cash conversion may remain vulnerable to operating-cycle fluctuations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The FY2026 revenue rebound indicates renewed demand across KECL’s electrical equipment activities after the prior-year setback. If sustained, improving sales can support better capacity utilization, strengthen customer relationships, and provide a foundation for recovering operating profitability over the next several quarters.
Read all positive factors
Kirloskar Electric Co. Ltd. (KECL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹8.17B
Dividend YieldN/A
Average Volume (3M)28.42K
Price to Earnings (P/E)107.2
Beta (1Y)2.17
Revenue Growth3.38%
EPS Growth234.48%
CountryIN
Employees834
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)1.13
Shares Outstanding66,414,070
10 Day Avg. Volume10,308
30 Day Avg. Volume28,420
Financial Highlights & Ratios
PEG Ratio0.57
Price to Book (P/B)4.13
Price to Sales (P/S)0.92
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kirloskar Electric Co. Ltd. Business Overview & Revenue Model
Company Description
Kirloskar Electric Company Limited (KECL) is a manufacturer and global supplier of diverse electrical and electronic equipment, with operations spanning India and international markets. The company structures its business across Power Generation a...
How the Company Makes Money
KECL makes money primarily by manufacturing and selling electrical equipment and executing related engineering/services work for industrial and utility customers. Key revenue streams include: (1) Sale of rotating electrical machines—revenue genera...
Kirloskar Electric Co. Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.62B | 5.89B | 5.44B | 5.57B | 4.74B | 3.35B |
| Gross Profit | 1.50B | 972.30M | 826.60M | 835.90M | 1.53B | 873.77M |
| EBITDA | 364.97M | 385.00M | 332.00M | 447.48M | 585.61M | 1.03B |
| Net Income | 74.60M | 83.80M | 37.40M | 140.79M | 310.80M | 673.89M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 6.33B | 6.01B | 6.40B | 6.12B | 6.14B |
| Cash, Cash Equivalents and Short-Term Investments | 231.12M | 231.12M | 291.50M | 211.50M | 246.80M | 475.12M |
| Total Debt | 0.00 | 1.00B | 1.16B | 1.26B | 1.33B | 1.42B |
| Total Liabilities | -1.32B | 5.01B | 4.86B | 5.58B | 5.21B | 5.38B |
| Stockholders Equity | 1.32B | 1.32B | 1.15B | 823.40M | 918.30M | 759.77M |
Cash Flow | ||||||
| Free Cash Flow | 59.50M | 0.00 | 84.70M | 340.79M | 34.40M | 343.12M |
| Operating Cash Flow | 65.50M | 19.50M | 123.60M | 365.70M | 73.00M | 349.64M |
| Investing Cash Flow | 95.60M | 161.70M | -38.80M | -21.20M | 20.70M | 1.03B |
| Financing Cash Flow | -232.70M | -157.80M | -103.80M | -306.47M | -333.00M | -1.09B |
Kirloskar Electric Co. Ltd. Technical Analysis
Negative
100.95
Price Trends
129.77
Negative
123.23
Negative
108.97
Positive
Market Momentum
-2.55
Positive
37.13
Neutral
8.44
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KECL, the sentiment is Negative. The current price of 100.95 is below the 20-day moving average (MA) of 131.70, below the 50-day MA of 129.77, and below the 200-day MA of 108.97, indicating a neutral trend. The MACD of -2.55 indicates Positive momentum. The RSI at 37.13 is Neutral, neither overbought nor oversold. The STOCH value of 8.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KECL.
Kirloskar Electric Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ₹1.57T | 52.39 | ― | 0.53% | 7.92% | 66.43% | |
76 Outperform | ₹1.40T | 42.95 | ― | 0.46% | -12.45% | 12.44% | |
68 Neutral | ₹1.47T | 60.39 | ― | 0.45% | 27.00% | 739.32% | |
66 Neutral | ₹1.39T | 59.02 | ― | 1.31% | 15.30% | 10.55% | |
58 Neutral | ₹45.27B | 44.90 | ― | 1.04% | 21.20% | 22.83% | |
57 Neutral | ₹8.17B | 107.20 | ― | ― | 3.38% | 234.48% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:KECL
Kirloskar Electric Co. Ltd.
121.30
5.20
4.48%
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24.43%
Kirloskar Electric Co. Ltd. Corporate Events
Kirloskar Electric Clarifies Preferential Issue Use Ahead of AGM
Aug 4, 2026
Kirloskar Electric Company Limited has issued a corrigendum to its notice convening the seventy ninth Annual General Meeting scheduled for August 13, 2026, which will be held via video conferencing and other audio visual means. The clarification f...
Kirloskar Electric Confirms SEBI-Compliant Demat Processing for Q1 FY27
Jul 9, 2026
Kirloskar Electric Company Ltd. has disclosed that it received a confirmation certificate from its registrar and share transfer agent under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 3...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.