Kennametal India Ltd
KENNAMETKennametal India Ltd's price has outrun its earnings. +116.1% in a year against EPS +90.5% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +116.1% in a year while annual EPS moved +90.5% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (21 weeks in) while the P/E sits at the 67th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +187.1% year on year, and 68% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Kennametal India Ltd trades at ₹4,681, in a confirmed uptrend and 21 weeks into that stage. That is +59.4% against its own 200-day average. It sits at 100% of a 52-week range of ₹1,948 to ₹4,684. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 6 straight weeks.
Today the stock is in a confirmed uptrend — week 21 of stage 2, confirmed. At ₹4,681 it trades +59.4% versus its 200-day average and sits at 100% of its 52-week range (₹1,948–₹4,684).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +573% while the NIFTY 500 moved +273% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 6 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Kennametal India Ltd's story is not scored yet against the markers our research file set on 17 May 2026. Where it sits in its own cycle: EARLY_EXPANSION. Still open: The price-raw timing benefit that drove Hard Metal Q4 +104% profit growth unwinds if tungsten corrects from $3,000/MT back toward historical $800-1,200 range.
Our read, 17 May 2026. Tungsten price surge is the engine, not the risk — but the Machining Solutions drag and premium valuation leave little margin for error.
From the numbers. PE at 59th percentile of 10Y range — mid-range, not depressed. Cycle is BREAKOUT_FROM_COMPRESSION per agent, but the underlying EPS surge is tungsten-cycle driven and non-recurring. Peak PE was 63.5x (Mar 2021 cycle…
From the price. Price stage 2, week 21 — above its 200-day line, relative strength rising.
From the research. Tungsten price surge is the engine, not the risk — but the Machining Solutions drag and premium valuation leave little margin for error.
🚨 Where they disagree. PE at 59th percentile of 10Y range — mid-range, not depressed. Cycle is BREAKOUT_FROM_COMPRESSION per agent, but the underlying EPS surge is tungsten-cycle driven and non-recurring. Peak PE was 63.5x (Mar 2021 cycle peak), trough was 25x (Mar 2020 COVID). Current 46.6x is above median. This is NOT a trough compression setup — it is a mid-cycle re-rating on exceptional commodity-cycle earnings. FII declining from 1% to 0.38% over 4 quarters is a yellow flag; DII accumulating +139 bps over same period is a partial positive.
What is proven. Tungsten price surge is the engine, not the risk — but the Machining Solutions drag and premium valuation leave little margin for error.
What is not proven yet. The price-raw timing benefit that drove Hard Metal Q4 +104% profit growth unwinds if tungsten corrects from $3,000/MT back toward historical $800-1,200 range.
The test written in advance. Tungsten Price Reversal — Core Profit Driver at Risk — Tungsten Price Reversal — Core Profit Driver at Risk Tungsten price per MT quarterly (>$2,000 needed to sustain current segment margins) by the next result.
The test written in advance. Machining Solutions Structural Loss — Persistent Drag — Machining Solutions Structural Loss — Persistent Drag by the next result.
The test written in advance. Valuation Premium — PE at 59th Percentile with Non-Recurring Earnings Surge — Valuation Premium — PE at 59th Percentile with Non-Recurring Earnings Surge PE normalisation if Q1 FY27 hard metal segment profit drops >30% QoQ by the next result.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Tungsten Price Timing Benefit — Hard Metal… | HIGH | — | Global tungsten prices surged from $900 to $3,000/MT in calendar Q1 2026 per parent Kennametal Inc's Q3 FY26 earnings call… | Tungsten price per MT quarterly (>$2,000 needed to sustain current segment margins) |
| Capacity Modernisation — New Bengaluru… | MEDIUM | — | New Metal Cutting inserts manufacturing facility inaugurated in Bengaluru as part of Kennametal Inc's global modernisation… | Tungsten price per MT quarterly (>$2,000 needed to sustain current segment margins) |
| India Manufacturing Sector Tailwind | MEDIUM | — | India's infrastructure capex, defence manufacturing, and automotive growth provide structural demand for precision cutting tools… | Tungsten price per MT quarterly (>$2,000 needed to sustain current segment margins) |
Lever 3 · Management change — BUILDING. Global tungsten prices surged from $900 to $3,000/MT in calendar Q1 2026 per parent Kennametal Inc's Q3 FY26 earnings call — Hard Metal segment revenue +45.7% YoY, segment profit +104% YoY in Q4 FY26. What proves it keeps working: Tungsten Price Timing Benefit — Hard Metal Realization Surge. It stops working if Tungsten price per MT quarterly (>$2,000 needed to sustain current segment margins).
Lever 1 · Operating leverage — BUILDING. New Metal Cutting inserts manufacturing facility inaugurated in Bengaluru as part of Kennametal Inc's global modernisation program — expands capacity and capability for Asia Pacific demand. What proves it keeps working: Capacity Modernisation — New Bengaluru Inserts Facility. It stops working if Tungsten price per MT quarterly (>$2,000 needed to sustain current segment margins).
Lever 14 · A bigger market to sell into — BUILDING. India's infrastructure capex, defence manufacturing, and automotive growth provide structural demand for precision cutting tools across all of Kennametal India's end segments. What proves it keeps working: India Manufacturing Sector Tailwind. It stops working if Tungsten price per MT quarterly (>$2,000 needed to sustain current segment margins).
Sources: our stock research file (17 May 2026) · quarterly results through Jun 26. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Kennametal India Ltd reported ₹478 Cr of revenue in the Jun 26 quarter, +48.0% year on year. That is the 10th straight quarter of year-on-year growth. Over 10 years it has compounded at 10.2% a year. The last full year, FY26, came in at ₹1,511 Cr. The last four reported quarters add to ₹1,511 Cr.
Why this happened. Management has repeatedly cited continued momentum in key end markets and India's economic growth as the volume growth driver across multiple quarterly result releases. The India entity benefits from the broader manufacturing and infrastructure capex cycle — railways, defence, automotive, and general engineering all expand the addressable market for carbide tools. This is a structural tailwind that is sector-wide rather than company-specific, and is contingent on India's capex cycle remaining intact.
FY26 revenue came in at ₹1,511 Cr (+29.1% on the year), capping 10 years at 10.2% compound. The latest quarter (Jun 26) printed ₹478 Cr, +48.0% year on year — the 10th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +28.3% growth against the decade's 10.2% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +29.1% over the last 4 quarters against +17.2%/yr over the last 8 — accelerating; TTM profit +91.2% vs +33.1%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Kennametal India Ltd's operating margin is 27.0% in the Jun 26 quarter, +12.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 8.0% to 20.0%. The current quarter is running above every full year in that window.
Why this happened. Kennametal India inaugurated a new inserts manufacturing facility in Bengaluru that consolidates previously fragmented production units and incorporates intelligent manufacturing systems for improved quality, consistency, and lead times. This is part of the global parent's modernisation program. The facility serves transportation, aerospace, general engineering, and energy segments. The impact is multi-year optionality — it expands addressable capacity and enables market share capture in high-growth India segments — but is not yet reflected in the run-rate financials as a step-up in ROCE or volume growth.
The latest quarter's operating margin is 27.0%, +12.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0%–20.0%, and FY26's 20.0% is the top of that band — a record year.
Why the margin moved: operating margin went +11.7 pp year on year while gross margin went +6.3 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Kennametal India Ltd earned ₹89.0 Cr of net profit in the Jun 26 quarter, +187.1% year on year. It is the 5th consecutive quarter of growth. Full-year FY26 profit was ₹196 Cr. The 10-year compound rate is 25.0%. That is 18.6% of the quarter's revenue. The same quarter a year earlier earned ₹31.0 Cr.
Jun 26 profit was ₹89.0 Cr, +187.1% year on year — the 5th consecutive quarter of growth. On the full year, FY26 printed ₹196 Cr (+90.3%), and the 10-year compound rate is 25.0%.
Why profit moved: revenue contributed +48.0% and the margin +12.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +83.2% vs revenue +28.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 68% of Kennametal India Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹18.0 Cr of operating cash against ₹196 Cr of profit. After ₹56.0 Cr of capital spending, ₹−38.0 Cr was left as free cash.
FY26: operating cash of ₹18.0 Cr against reported profit of ₹196 Cr, leaving free cash of ₹−38.0 Cr after ₹56.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 68% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 68%: the cash cycle stretched 81 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 81 days — the next section's job is to find where the cash is stuck.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Kennametal India Ltd's cash conversion cycle runs 219 days in FY26, up from 138 days in FY21. Capital spending ran ₹118 Cr over the last 3 years. At FY26 sales of ₹1,511 Cr each day of that cycle holds about ₹4.1 Cr, so roughly ₹907 Cr sits inside the business at any moment.
FY26: debtors at 65 days, inventory at 280 days — roughly 9.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 219 days, looser than FY21's 138.
The full loop: cash goes out to suppliers and production on day 0; stock waits 280 days to sell; customers pay about 65 days after that; and suppliers themselves are paid at 127 days — netting out to the 219-day cycle.
In money terms: at FY26 sales of ₹1,511 Cr, each day of the cycle holds about ₹4.1 Cr — so the 219-day loop keeps roughly ₹907 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹118 Cr over the last 3 fiscal years against ₹138 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹7.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Kennametal India Ltd earns a ROCE of 33% in FY26. That is up from a trough of 8% in FY16. Return on invested capital clears the cost of that capital by +8.4 percentage points, so growth here adds value rather than only size. The wiring behind it is 13.0% net margin on 1.19× asset turns.
FY26 ROCE is 33%, recovered from a FY16 trough of 8% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 13.0% net margin × 1.19× asset turns × 1.48× balance-sheet leverage ≈ 22.9% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 20.4% − 12.0% = a +8.4 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Kennametal India Ltd carries total debt of ₹2.0 Cr against shareholder equity of ₹802 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 0.00 in FY24 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹2.0 Cr against shareholder equity of ₹802 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 0.00 (FY24) to 0.00 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Kennametal India Ltd moved a full percentage point over the last two years — the register is quiet. Domestic institutions moved −0.2 points over the same window, to 13.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.
Why this happened. The dominant driver of recent exceptional performance is not organic volume growth but a global tungsten commodity price surge. Kennametal Inc (parent) disclosed on its Q3 FY26 earnings call that tungsten prices rose from $900 to $3,000 per metric ton, described as a ninefold increase. This creates a price-raw timing benefit where product realizations jump before input costs fully reset, flowing through to Hard Metal segment margins. Parent attributed $2.45 of total $3.75-4.00 EPS guidance to this price-raw timing benefit primarily in Infrastructure. The risk is symmetrical — if tungsten prices correct, realizations drop. Parent's free cash flow turned negative 30% of net income due to…
The register over the last two years — Foreign institutions: −0.8 points over 8 quarters to 0.2%; Domestic institutions: −0.2 points over 8 quarters to 13.3%; Promoters: +0.0 points over 8 quarters to 75.0%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Kennametal India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Kennametal India Ltd trades at 52.5× P/E, mid-range by its own standards (67th percentile). Its long-run median P/E is 47.8×, measured across 10.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 52.5× is mid-range by its own standards (67th percentile), against a long-run median of 47.8× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +90.5% against a +116.1% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +26.7%/yr price move, ~+23.8%/yr came from earnings growth and ~+2.9 pp from the multiple (expanding); over 10y, of the +21.5%/yr price move, ~+25.2%/yr came from earnings growth and ~−3.7 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 13 June 2026 price, Kennametal India Ltd was paying for profit growth of about 25.2% a year. Profit itself has compounded 25.0% a year over the past 10 years. Today the market pays 52.5× P/E, the 67th percentile of its own 11-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is close to what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Kennametal India Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE lifting at 23.7% — the per-curve reads carry the story. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +29.1% | +11.9% | +13.3% | +10.2% |
| Profit | +90.3% | +30.6% | +23.9% | +25.0% |
| EPS | +90.5% | +30.7% | +24.1% | +25.2% |
| Share price | +116.1% | +18.7% | +26.7% | +21.5% |
4-Factor Sector Score
84.5/100 — rank 1 of 20 in Castings, Forgings & Fastners · 100% evidence confidence
Kennametal India Ltd scores 84.5 out of 100 against the 20 companies it is compared with in Castings, Forgings & Fastners, ranking 1. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
The four contributions add to the total exactly: 32.3 + 19.1 + 13.1 + 20 = 84.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Kennametal India Ltdthis pageKENNAMET | 84.5/100Sector-leading setup100% evidence | LEADER | 32.3/35 Revenue 29.1% · PAT 91.2% · OPM change 12 pp 100% evidence | 19.1/25 ROCE 33.2% · OPM 27% 100% evidence | 13.1/20 P/E 52.5× · PEG 1.34 100% evidence | 20.0/20 RS sector 44.1% · RS bench 82.3% · 1Y 115.2%10 of 12 weeks ahead 100% evidence |
| Exact sum: 32.3 + 19.1 + 13.1 + 20 = 84.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Uniparts India LtdUNIPARTS | 78.9/100Favorable setup100% evidence | LEADER | 31.6/35 Revenue 27.5% · PAT 85.6% · OPM change 5 pp 100% evidence | 17.4/25 ROCE 21.6% · OPM 24% 100% evidence | 12.7/20 P/E 22.2× · PEG 0.38 100% evidence | 17.2/20 RS sector 28.6% · RS bench 62.8% · 1Y 118.1%12 of 12 weeks ahead 100% evidence |
| Exact sum: 31.6 + 17.4 + 12.7 + 17.2 = 78.9 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Amic Forging Ltd544037 | 62.1/100Thin evidence · provisional58% evidence | LEADER | 17.8/35 Revenue — · PAT — · OPM change 5 pp 26% evidence | 19.9/25 ROCE 23.5% · OPM 33% 76% evidence | 7.1/20 P/E 96.3× · PEG — 50% evidence | 17.3/20 RS sector 18.1% · RS bench 51.3% · 1Y 60.7%11 of 12 weeks ahead 100% evidence |
| Exact sum: 17.8 + 19.9 + 7.1 + 17.3 = 62.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 4Happy Forgings LtdHAPPYFORGE | 61.3/100Mixed-positive evidence100% evidence | LEADER | 23.4/35 Revenue 15.5% · PAT 21.1% · OPM change 2 pp 100% evidence | 16.8/25 ROCE 18% · OPM 31% 100% evidence | 1.8/20 P/E 62.5× · PEG 3.72 100% evidence | 19.3/20 RS sector 30.5% · RS bench 64.7% · 1Y 144.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 23.4 + 16.8 + 1.8 + 19.3 = 61.3 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 5Captain Technocast Ltd540652 | 59.4/100Thin evidence · provisional51% evidence | TURNING | 20.8/35 Revenue 78.2% · PAT 100% · OPM change -2 pp 48% evidence | 18.1/25 ROCE 29.7% · OPM 12% 76% evidence | 9.9/20 P/E 48.6× · PEG — 50% evidence | 10.6/20 RS sector — · RS bench 17.7% · 1Y —6 of 6 weeks ahead 25% evidence |
| Exact sum: 20.8 + 18.1 + 9.9 + 10.6 = 59.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 6Gala Precision Engineering LtdGALAPREC | 58.9/100Mixed-positive evidence80% evidence | LEADER | 27.3/35 Revenue 31.8% · PAT 37.2% · OPM change 1 pp 95% evidence | 14.2/25 ROCE 15.6% · OPM 16.3% 95% evidence | 10.2/20 P/E 34.7× · PEG — 15% evidence | 7.2/20 RS sector -4.7% · RS bench 21.8% · 1Y 26.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27.3 + 14.2 + 10.2 + 7.2 = 58.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7M M Forgings LtdMMFL | 58.1/100Mixed-positive evidence100% evidence | BREAKING OUT | 18.8/35 Revenue 9.6% · PAT 53.1% · OPM change 0 pp 100% evidence | 9.7/25 ROCE 9% · OPM 18% 100% evidence | 13.1/20 P/E 27.1× · PEG 0.66 100% evidence | 16.5/20 RS sector 14.7% · RS bench 45.7% · 1Y 99.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 18.8 + 9.7 + 13.1 + 16.5 = 58.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Sona BLW Precision Forgings LtdSONACOMS | 57.4/100Mixed-positive evidence100% evidence | LEADER | 22.3/35 Revenue 39.6% · PAT 18.1% · OPM change -1 pp 100% evidence | 12.3/25 ROCE 14.2% · OPM 23% 100% evidence | 7.0/20 P/E 67.6× · PEG 3.04 100% evidence | 15.8/20 RS sector 10.7% · RS bench 40.7% · 1Y 78.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 22.3 + 12.3 + 7 + 15.8 = 57.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Balu Forge Industries LtdBALUFORGE | 52.2/100Mixed-positive evidence94% evidence | TURNING | 14.5/35 Revenue 19.8% · PAT 18.1% · OPM change -3 pp 100% evidence | 17.6/25 ROCE 22.7% · OPM 28% 100% evidence | 13.8/20 P/E 24.2× · PEG 1.61 100% evidence | 6.3/20 RS sector -27.9% · RS bench 3.5% · 1Y -19.9%4 of 10 weeks ahead 70% evidence |
| Exact sum: 14.5 + 17.6 + 13.8 + 6.3 = 52.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 10Steelcast LtdSTEELCAS | 52.0/100Mixed-positive evidence100% evidence | LEADER | 15.2/35 Revenue 9.2% · PAT 15.2% · OPM change 0 pp 100% evidence | 18.6/25 ROCE 32.3% · OPM 26% 100% evidence | 8.8/20 P/E 36.3× · PEG 1.7 100% evidence | 9.4/20 RS sector -0.1% · RS bench 27.2% · 1Y 50.6%10 of 12 weeks ahead 100% evidence |
| Exact sum: 15.2 + 18.6 + 8.8 + 9.4 = 52 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Uni Abex Alloy Products Ltd504605 | 51.9/100Mixed-positive evidence82% evidence | LEADER | 16.3/35 Revenue 17.2% · PAT 100% · OPM change -7 pp 95% evidence | 15.2/25 ROCE 19.2% · OPM 10.5% 76% evidence | 10.7/20 P/E 19.7× · PEG — 50% evidence | 9.7/20 RS sector 0.1% · RS bench 27.3% · 1Y 45.9%12 of 12 weeks ahead 100% evidence |
| Exact sum: 16.3 + 15.2 + 10.7 + 9.7 = 51.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Tirupati Forge LtdTIRUPATIFL | 51.5/100Mixed-positive evidence80% evidence | BREAKING OUT | 15.9/35 Revenue 42.3% · PAT -8.4% · OPM change 0.1 pp 95% evidence | 8.9/25 ROCE 7.5% · OPM 11.5% 95% evidence | 8.7/20 P/E 147× · PEG — 15% evidence | 18.0/20 RS sector 21.4% · RS bench 52.9% · 1Y 72.5%12 of 12 weeks ahead 100% evidence |
| Exact sum: 15.9 + 8.9 + 8.7 + 18 = 51.5 · Decision use: Price leads the evidence: RS versus the benchmark is 52.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 13CIE Automotive India LtdCIEINDIA | 44.7/100Mixed-negative evidence100% evidence | ASLEEP | 17.5/35 Revenue 12.5% · PAT 14.3% · OPM change 1 pp 100% evidence | 14.4/25 ROCE 14.7% · OPM 15% 100% evidence | 11.8/20 P/E 16.1× · PEG 2.4 100% evidence | 1.0/20 RS sector -32.1% · RS bench -11.7% · 1Y -3.6%0 of 12 weeks ahead 100% evidence |
| Exact sum: 17.5 + 14.4 + 11.8 + 1 = 44.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Ramkrishna Forgings LtdRKFORGE | 42.4/100Mixed-negative evidence75% evidence | LEADER | 14.1/35 Revenue 8.6% · PAT -71.3% · OPM change 4 pp 95% evidence | 7.5/25 ROCE 5.6% · OPM 18% 76% evidence | 8.8/20 P/E 113× · PEG — 15% evidence | 12.0/20 RS sector -1.6% · RS bench 26.6% · 1Y 24.7%8 of 12 weeks ahead 100% evidence |
| Exact sum: 14.1 + 7.5 + 8.8 + 12 = 42.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Bharat Forge LtdBHARATFORG | 40.7/100Mixed-negative evidence75% evidence | BREAKING OUT | 15.1/35 Revenue 17.5% · PAT -30.1% · OPM change -2 pp 95% evidence | 11.0/25 ROCE 12.6% · OPM 15% 76% evidence | 9.1/20 P/E 92.1× · PEG — 15% evidence | 5.5/20 RS sector -10.2% · RS bench 14.5% · 1Y 71.1%7 of 12 weeks ahead 100% evidence |
| Exact sum: 15.1 + 11 + 9.1 + 5.5 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Nelcast LtdNELCAST | 38.6/100Mixed-negative evidence87% evidence | BASING | 13.8/35 Revenue 4.2% · PAT -1.8% · OPM change -3.9 pp 95% evidence | 12.1/25 ROCE 11.4% · OPM 4.6% 95% evidence | 11.7/20 P/E 23× · PEG — 50% evidence | 1.0/20 RS sector -30.3% · RS bench -10% · 1Y -25.6%2 of 12 weeks ahead 100% evidence |
| Exact sum: 13.8 + 12.1 + 11.7 + 1 = 38.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Alicon Castalloy LtdALICON | 37.1/100Mixed-negative evidence81% evidence | TURNING | 11.3/35 Revenue 13.7% · PAT 0% · OPM change -3 pp 95% evidence | 10.2/25 ROCE 10.6% · OPM 9% 95% evidence | 9.4/20 P/E 32.4× · PEG — 50% evidence | 6.2/20 RS sector -20.7% · RS bench -0.2% · 1Y -12.7%3 of 10 weeks ahead 70% evidence |
| Exact sum: 11.3 + 10.2 + 9.4 + 6.2 = 37.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Sundaram Clayton LtdSUNCLAY | 26.0/100Adverse evidence74% evidence | BASING | 10.4/35 Revenue -3.9% · PAT 100% · OPM change -1.2 pp 74% evidence | 0.5/25 ROCE -3.3% · OPM 2% 100% evidence | 11.5/20 P/E 11.1× · PEG — 15% evidence | 3.6/20 RS sector -25.6% · RS bench -3% · 1Y -22.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 10.4 + 0.5 + 11.5 + 3.6 = 26 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Sterling Tools LtdSTERTOOLS | 25.9/100Adverse evidence87% evidence | TURNING | 6.9/35 Revenue -9.3% · PAT -46.4% · OPM change -0.9 pp 95% evidence | 9.1/25 ROCE 7.2% · OPM 10.6% 95% evidence | 6.9/20 P/E 40.5× · PEG — 50% evidence | 3.0/20 RS sector -33.7% · RS bench -12.9% · 1Y -33.4%2 of 12 weeks ahead 100% evidence |
| Exact sum: 6.9 + 9.1 + 6.9 + 3 = 25.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Synergy Green Industries LtdSGIL | 23.7/100Adverse evidence80% evidence | TURNING | 1.9/35 Revenue -2.5% · PAT -80% · OPM change -8 pp 95% evidence | 6.9/25 ROCE 9.2% · OPM 6% 95% evidence | 8.5/20 P/E 185× · PEG — 15% evidence | 6.4/20 RS sector -15% · RS bench 10.1% · 1Y 7.3%9 of 12 weeks ahead 100% evidence |
| Exact sum: 1.9 + 6.9 + 8.5 + 6.4 = 23.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Kennametal India Ltd's share price today?
Kennametal India Ltd trades at ₹4,681, +116.1% over the past year. The company is valued at ₹10,291 Cr. The stock sits at the very top of its 52-week range (₹1,948–₹4,684), +59.4% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 21 weeks in. — as of 11 September 2026.
What were Kennametal India Ltd's latest quarterly results?
Kennametal India Ltd reported revenue of ₹478 Cr and net profit of ₹89.0 Cr for the Jun 26 quarter. Revenue rose 48.0% and profit rose 187.1% year on year. Earnings per share were ₹40.40. The operating margin was 27.0%, 12.0 pp higher than a year earlier. — as of 11 September 2026.
What is Kennametal India Ltd's revenue?
Kennametal India Ltd reported revenue of ₹478 Cr in the Jun 26 quarter, +48.0% year on year. For the full FY26 fiscal year, revenue was ₹1,511 Cr (+29.1%). Over the last 10 years revenue compounded at 10.2% a year. — as of 11 September 2026.
What is Kennametal India Ltd's profit?
Kennametal India Ltd earned ₹89.0 Cr of net profit in the Jun 26 quarter, +187.1% year on year — the 5th straight quarter of growth. Full-year FY26 profit was ₹196 Cr. The operating margin ran 27.0% in the latest quarter. — as of 11 September 2026.
What is Kennametal India Ltd's market cap?
Kennametal India Ltd's market capitalisation is ₹10,291 Cr at a share price of ₹4,681. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Kennametal India Ltd's P/E ratio?
Kennametal India Ltd trades at a P/E of 52.5×, at the 67th percentile of its own 11-year range, against a long-run median of 47.8×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Kennametal India Ltd pay a dividend?
Not in its latest year — Kennametal India Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 10 of its last 13 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Kennametal India Ltd overvalued?
On its own history, Kennametal India Ltd looks expensive: its P/E of 52.5× sits at the 67th percentile of its 11-year range (long-run median 47.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 11 September 2026.
Is Kennametal India Ltd growing?
Yes — Kennametal India Ltd is growing: latest-quarter revenue +48.0% year on year, profit +187.1%, and the margin +12.0 pp at 27.0%. The 10-year compound rates are 10.2% (revenue) and 25.0% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Kennametal India Ltd performing?
Kennametal India Ltd is in a confirmed uptrend, 21 weeks in. Its latest quarter's revenue rose 48.0% and profit rose 187.1% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Kennametal India Ltd in?
Mixed — no clean majority across the growth curves, ROCE lifting at 23.7% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +29.1% latest, profit growth +91.2% latest, eps growth +90.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Kennametal India Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 21 of stage 2), trading +59.4% versus its 200-day average and at the very top of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Kennametal India Ltd beating the market?
On recent form, yes — Kennametal India Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 6 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +573% against the NIFTY 500's +273% — ahead of the index over the full window. — as of 11 September 2026.
Will Kennametal India Ltd's share price go up?
This page publishes no price forecast for Kennametal India Ltd. What it measures instead: the share price is ₹4,681, the price is in a confirmed uptrend 21 weeks in. Its P/E of 52.5× sits at the 67th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Kennametal India Ltd?
Promoters hold 75.0% of Kennametal India Ltd, foreign institutions 0.2%, domestic institutions 13.3% and the public 11.4% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.
Does Kennametal India Ltd have too much debt?
No — Kennametal India Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill north of 100×. FY26 borrowings were ₹2.0 Cr against equity of ₹854 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Kennametal India Ltd's capex?
Kennametal India Ltd spent ₹118 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹56.0 Cr, with ₹7.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Kennametal India Ltd's cash flow?
Kennametal India Ltd generated ₹18.0 Cr of operating cash flow in FY26 and ₹−38.0 Cr of free cash flow after ₹56.0 Cr of capital spending. Reported profit that year was ₹196 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Kennametal India Ltd's profit real cash?
Mostly — over the last 3 fiscal years, 68% of Kennametal India Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹18.0 Cr against reported profit of ₹196 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 11 September 2026.
Where is Kennametal India Ltd in its business cycle?
Kennametal India Ltd's FY26 operating margin was 20.0%, against a 13-year band of 8.0%–20.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 27.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Kennametal India Ltd's price assume?
At its price on 13 June 2026, Kennametal India Ltd was priced for profit growth of about 25.2% a year. Profit itself has compounded 25.0% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Kennametal India Ltd story?
The sharpest disagreement: the price moved +116.1% in a year while annual EPS moved +90.5% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Kennametal India Ltd a stock worth studying right now?
This is not investment advice. The machine read: Kennametal India Ltd's price has outrun its earnings. +116.1% in a year against EPS +90.5% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!