# Kirloskar Pneumatic Company share price today (Kirloskar Pneumatic Company Ltd, NSE: KIRLPNU)

> Kirloskar Pneumatic Company share price today: ₹549.70 at the NSE close on 3 November 2026, down 1.7% in a year. Kirloskar Pneumatic Company (NSE: KIRLPNU) is worth ₹7,150 crore, trades at a P/E of 28.5 and has closed between ₹513.67 and ₹998.90 over the past 52 weeks. > Kirloskar Pneumatic Company Ltd's P/E is near the low end of its own history, higher than only 14% of past readings, and its quarterly results are still getting worse. KIRLPNU · Compressors · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/kirloskar-pneumatic-company-ltd

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## Key numbers

- Business trend: Turning around, from the last 12 quarters
- Price: ₹549.70 (−1.7% in a year)
- P/E: 28.5× (lower than 86% of the last 11 years)
- Revenue (Sep 2026): ₹326 Cr (−15.5% on a year ago)
- Profit (Sep 2026): ₹40.0 Cr (−9.1% on a year ago)
- Operating margin: 12.0% (−3.0 points on a year ago)
- ROCE: 30%, FY26
- ROIC: 30.3%, against a 12.0% cost of capital: +18.3 points

The main question: the P/E is near the low end of its own history, higher than only 14% of past readings, but results are getting worse. A low multiple can stay low until the quarters turn. ## What is the Kirloskar Pneumatic Company share price today? Kirloskar Pneumatic Company Ltd's share price was ₹549.70 at the close on 3 November 2026. It has been falling for 2 weeks. That is 20.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹514 and ₹999, and at that close it sat 7% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 16 weeks running. Over the last 11 years the share price moved +677% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 17 July 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Kirloskar Pneumatic Company this quarter? Three changes stood out: revenue fell in the September 2026 quarter, profit fell in the September 2026 quarter and indian funds and insurers (DIIs) cut their stake for 3 quarters in a row. 1. Revenue fell in the September 2026 quarter Revenue was ₹326 crore, -15.5% on a year earlier (₹386 crore), after 3 quarters of growth. 2. Profit fell in the September 2026 quarter Profit was ₹40 crore, -9.1% on a year earlier (₹44 crore), after 3 quarters of growth. 3. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row From 28.2% to 25.3% of the company by the September 2026 quarter. ## What are Kirloskar Pneumatic Company's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Kirloskar Pneumatic Company reported revenue of ₹326 crore, down 15.5% from ₹386 crore a year earlier, and a profit of ₹40.0 crore, down 9.1% from ₹44.0 crore. ### Kirloskar Pneumatic Company results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹326 crore | ₹386 crore | −15.5% |
| Profit | ₹40.0 crore | ₹44.0 crore | −9.1% |
| Earnings per share | ₹3.08 | ₹3.35 | −8.1% |
| Operating margin | 12.0% | 15.0% | −3.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 27 April 2026, about January to March 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Kirloskar Pneumatic Company share price history? Kirloskar Pneumatic Company closed at ₹549.70 on 3 November 2026, down 1.7% from ₹559.13 a year earlier (31 October 2025) and up 174.1% over five years. Its highest weekly close since March 2016 was ₹998.90 on 1 July 2026. ### Kirloskar Pneumatic Company share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹584.15 | −5.9% |
| 1 month ago · 1 Oct 2026 | ₹681.70 | −19.4% |
| 6 months ago · 30 Apr 2026 | ₹752.67 | −27.0% |
| 1 year ago · 31 Oct 2025 | ₹559.13 | −1.7% |
| 3 years ago · 3 Nov 2023 | ₹271.75 | +102.3% |
| 5 years ago · 4 Nov 2021 | ₹200.53 | +174.1% |
| 10 years ago · 4 Nov 2016 | ₹75.85 | +624.7% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹70.75 | +677.0% |
| Highest weekly close since March 2016, also the 52-week high · 1 Jul 2026 | ₹998.90 | −45.0% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹45.50 | +1,108.1% |
| 52-week low (weekly close) · 26 Dec 2025 | ₹513.67 | +7.0% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Kirloskar Pneumatic Company? 3 Nov 2026: Kirloskar Pneumatic Company closed at ₹549.70, down 5.9% on the week and down 19.4% on the month. Results for July to September 2026: Revenue down 15.5% and profit down 9.1% on a year earlier. ### Earlier

- 18 Aug 2026: Share split: face value cut from ₹2 to ₹1 a share (ex-date). - 3 Jul 2026: ex-date for a dividend of ₹8.50 a share. - Our read, 17 May 2026: Record order book, PLI-backed new product pipeline, and management credibility on delivery, offset by a pattern of guidance downgrades and opaque segment disclosures. - 27 Apr 2026: Kirloskar Pneumatic Company held its results call for January to March 2026. - 30 Jan 2026: ex-date for an interim dividend of ₹3.50 a share. ### Our read of the business

Latest quarter: Record profit before tax and order book, but guidance credibility deteriorated on four fronts. (Our read after the latest results, written 17 May 2026.)

## What dividend does Kirloskar Pneumatic Company pay? Kirloskar Pneumatic Company paid ₹6 a share in regular dividends in the 12 months to 4 November 2026 (2 payments), a yield of 1.09% at the ₹549.70 close on 3 November 2026. The last was a dividend of ₹8.50 a share, ex-date 3 July 2026. ### Kirloskar Pneumatic Company dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 3 Jul 2026 | ₹8.50 | Dividend |
| 30 Jan 2026 | ₹3.50 | Interim |
| 15 Jul 2025 | ₹6.50 | Dividend |
| 7 Feb 2025 | ₹3.50 | Interim |
| 12 Jul 2024 | ₹4 | Dividend |
| 6 Feb 2024 | ₹2.50 | Interim |
| 12 Jul 2023 | ₹3 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 2 of the last 12 months' payments came before a split or bonus; the 12-month total above is on today’s share count. 3 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Kirloskar Pneumatic Company Ltd paid out 30% of its profit as dividends in FY26, and it paid a dividend in each of its last 16 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Kirloskar Pneumatic Company management say on the latest results call? On the call for January to March 2026, held on 27 April 2026, Kirloskar Pneumatic Company's management spoke about the quarter; the main points are below. > “Our team is capable of doing the innovation and engineering, and we developed these products ourselves”
> Ramesh Birajdar, CFO, on the call for January to March 2026

Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/706-27-Apr-2026.pdf). (From the call for January to March 2026, 27 April 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What is the future of Kirloskar Pneumatic Company? What is changing in the business? What is changing at Kirloskar Pneumatic Company, from the latest results and calls: record order book execution, pli-backed zephyros ac platform and operating leverage + backward integration. - Record Order Book Execution. ₹1,853 crore order book at April 1, 2026 to 15% on a year earlier growth, ₹1,353 crore (73%) executable in FY27, gives the strongest revenue visibility in company history. ⚠ estimate
- Operating Leverage + Backward Integration. Raw material as % of sales improved 630 basis points to 50.06% in January to March 2026, backward integration into motors, heat exchangers, sheet metal providing structural COGS tailwind. ⚠ estimate
- Tesco Centrifugal Compressor Franchise. India's only complete centrifugal compressor manufacturer, 130 units in field, 85 commissioned, expanding into pharma/tire/textiles beyond core metals and power. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 17 May 2026.)

## What is Kirloskar Pneumatic Company's order book? Order book ₹1,853 crore as of April 1, 2026 to 15% on a year earlier growth from ₹1,624 crore; ₹1,353 crore (73%) executable within FY27. - FY26 order booking exceeded ₹2,000 crore for the first time (vs ₹1,871 crore in FY25); profit before tax ₹356 crore (highest ever), EPS ₹39.80 (+22%), Dividend ₹12/share (600%, highest ever) ✓ fact

(Our read after the latest results, written 17 May 2026.)

## What could change the Kirloskar Pneumatic Company story? What are the risks? Revenue, EBIT margin metric switch, segment reportability, and MENA exports, four separate guidance reversals in FY26 make forward earnings bridges unreliable. ### The main risks

- Persistent guidance downgrade pattern, 4 misses in FY26: Revenue, EBIT margin metric switch, segment reportability, and MENA exports, four separate guidance reversals in FY26 make forward earnings bridges unreliable. ⚠ estimate
- MENA geopolitical disruption, export revenue at risk: MENA was the key export driver; orders now 'going quite slowly'; FY26 exports missed ₹140 crore guidance by ~25-30%. ✓ fact
- Zephyros AC commercialization risk: ₹320 crore PLI capital spending committed to a product in early commercialization, only 2 units installed as technology demonstrators; volume ramp and GTM unproven. ⚠ estimate
- Precision Engineering segment opacity: ₹500 crore order book in a segment management explicitly refuses to disclose, no margin data, no revenue disclosure, reportability commitment reversed. ✓ fact

(Our read after the latest results, written 17 May 2026.)

## What to watch in Kirloskar Pneumatic Company's next results? When Kirloskar Pneumatic Company reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: April to June 2026 revenue vs ₹450-470 Cr implied 20% run-rate; operating margin vs 18-20% guide. | What to check | Why |
| --- | --- |
| April to June 2026 revenue vs ₹450-470 Cr implied 20% run-rate; operating margin vs 18-20% guide. | Persistent guidance downgrade pattern, 4 misses in FY26 |
| Export revenue as % of total sales in Q1-July to September 2026; MENA order finalization news. | MENA geopolitical disruption, export revenue at risk |
| Q1-July to September 2026 Zephyros unit deployments; PLI scheme commercialization timeline updates. | Zephyros AC commercialization risk |
| April to June 2026 management commentary on Precision Engineering; any segment disclosure. | Precision Engineering segment opacity |
| Process gas segment revenue as % of total in Q1-July to September 2026. | CNG distribution market structural headwinds |

## Which stock lists is Kirloskar Pneumatic Company on? Kirloskar Pneumatic Company is not on any of our India lists this week. ## Is Kirloskar Pneumatic Company profitable? Kirloskar Pneumatic Company Ltd earned ₹40.0 Cr of net profit in the Sep 2026 quarter, −9.1% on the same quarter a year earlier. Full-year FY26 profit was ₹254 Cr. Over 10 years profit has grown 21.2% a year on average. That is 12.3% of the quarter's revenue. The same quarter a year earlier earned ₹44.0 Cr. For the full year, FY26 profit was ₹254 Cr (+20.4% on the year before). Why profit moved: revenue changed −15.5% on a year earlier and the margin moved −3.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +29.1% and revenue +7.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Kirloskar Pneumatic Company make, and is it growing? Kirloskar Pneumatic Company Ltd reported ₹326 Cr of revenue in the Sep 2026 quarter, −15.5% on the same quarter a year earlier. Over 10 years it has grown 13.4% a year on average. The last full year, FY26, came in at ₹1,787 Cr. The last four reported quarters add to ₹1,748 Cr. Why this happened. FY26 order booking exceeded Rs 2,000 Cr for the first time (vs Rs 1,871 Cr in FY25). The order book composition has also improved: zero large package orders that caused quarterly lumps in FY26 means Q-on-Q execution should be more predictable. Equipment business run-rate is Rs 600-700 Cr annually with shorter execution timelines, supporting quarterly revenue stability. The Rs 500 Cr Precision Engineering backlog is additional and not yet formally part of the compression segment reporting. FY26 revenue was ₹1,787 Cr, +9.0% on the year before. Recent pace: the last four quarters grew +7.7% on average, against 13.4% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +9.0%, against +7.8% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +39.2%, against +16.8% a year (accelerating). ## How much of every ₹100 of sales does Kirloskar Pneumatic Company keep? Kirloskar Pneumatic Company Ltd's operating margin was 12.0% in the Sep 2026 quarter, 3.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 16 years it has been between 7.0% and 20.0%. The latest quarter is within that range. Why this happened. In-house manufacturing of motors (Saswad plant), heat exchangers, sheet metal components, and forgings (Nashik foundry) is reducing raw material to sales ratio structurally. Q4 FY26 saw 630bps improvement vs prior year. Management goals 20-25% of revenue from equipment business (shorter-cycle, higher-margin) vs large packages. This shift reduces business lumpiness AND improves margins as the equipment mix carries better contribution. New centrifugal compressors (Tesco, A800 frame) and Hydrino oil-free compressors are all fully in-house manufactured, supporting IP ownership and cost advantage. Why the margin moved: operating margin changed −2.7 percentage points on the year while gross margin changed +7.3 points. So the drop came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is Kirloskar Pneumatic Company's profit turning into cash? Over the last 3 years, 106% of Kirloskar Pneumatic Company Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹233 Cr of operating cash against ₹254 Cr of profit. After ₹63.0 Cr of spending on assets, ₹170 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 106% of profit came in as cash: the cash cycle got 21 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 2.3× depreciation over three years. The next section checks what that spending is building. ## Where does Kirloskar Pneumatic Company's cash go? Kirloskar Pneumatic Company Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 90 days in FY26, down from 111 days in FY21. It spent ₹216 Cr on assets over the last 3 years. Customers take 107 days to pay, and stock sits for 89 days on average. At FY26 sales of ₹1,787 Cr, each day of that cycle ties up about ₹4.9 Cr, so roughly ₹441 Cr is tied up in the business at any time. FY26: customers took 107 days to pay and stock sat for 89 days, about 2.9 months of sales sitting as stock, for a full cycle of 90 days, shorter than FY21's 111. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 89 days. Customers pay about 107 days after that. Suppliers are paid at 106 days. Together that makes the 90-day cycle. Spending on assets: ₹216 Cr over the last 3 years, against ₹96.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹7.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Kirloskar Pneumatic Company's P/E ratio, and how does it compare with its own history? Kirloskar Pneumatic Company Ltd's P/E is 28.5×, near the low end of its own history: it has been lower only 14% of the time. Its usual P/E (the middle reading) is 39.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹19.97. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +21.2% while the price moved −1.7%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +22.3% a year; about +48.6% a year came from earnings growth and about −26.3 percentage points from the multiple (the market paying less); over 10 years the price moved +21.9% a year; about +21.9% a year came from earnings growth and about +0.0 percentage points from the multiple (roughly no change). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Kirloskar Pneumatic Company share price assume? Worked out from its price on 27 August 2026, Kirloskar Pneumatic Company Ltd's share price assumed profit growth of about 20.7% a year. Over the past 10 years its profit actually grew 21.2% a year. Today its P/E is 28.5×, lower than 86% of its own last 11 years. This is a one-day reading, taken on 27 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Kirloskar Pneumatic Company business getting better or worse? Kirloskar Pneumatic Company Ltd's business is turning around. EPS growth has swung from −39.7% at its low to +38.7%, improving for 3 quarters in a row, with ROCE rising at 27.3%. This is based on 12 quarters of 4 measures. Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it. ## What is the Kirloskar Pneumatic Company story, and has it been checked? Kirloskar Pneumatic Company Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: MID CYCLE CONTRACTION TO RECOVERY. Still open: Revenue, EBIT margin metric switch, segment reportability, and MENA exports, four separate guidance reversals in FY26 make forward earnings bridges unreliable. Our read, 17 May 2026. Record order book, PLI-backed new product pipeline, and management credibility on delivery, offset by a pattern of guidance downgrades and opaque segment disclosures. From the numbers. The cycle matrix label is WATCH VALUE. EPS has…

From the price. Price stage 4, week 2, below its 200-day line, relative strength falling. From the research. Record order book, PLI-backed new product pipeline, and management credibility on delivery, offset by a pattern of guidance downgrades and opaque segment disclosures. Where they disagree. The cycle matrix label is WATCH VALUE. EPS has recovered strongly in Q4 FY26 (Rs 22.14) after a weak Q1-Q3 FY26 (average Rs 5.5). What is proven. Record order book, PLI-backed new product pipeline, and management credibility on delivery, offset by a pattern of guidance downgrades and opaque segment disclosures. What is not proven yet. Revenue, EBIT margin metric switch, segment reportability, and MENA exports, four separate guidance reversals in FY26 make forward earnings bridges unreliable. The test written in advance. Persistent guidance downgrade pattern, 4 misses in FY26. Measured by: Persistent guidance downgrade pattern, 4 misses in FY26 Q1 FY27 revenue vs Rs 450-470 Cr implied 20% run-rate; EBITDA margin vs 18-20% guide by the next result. The test written in advance. MENA geopolitical disruption, export revenue at risk. Measured by: MENA geopolitical disruption, export revenue at risk Export revenue as % of total sales in Q1-Q2 FY27; MENA order finalization news by the next result. The test written in advance. Zephyros AC commercialization risk. Measured by: Zephyros AC commercialization risk Q1-Q2 FY27 Zephyros unit deployments; PLI scheme commercialization timeline updates by the next result. Lever 6 · Order-book wins: building. Rs 1,853 Cr order book at April 1, 2026 to 15% YoY growth, Rs 1,353 Cr (73%) executable in FY27, gives the strongest revenue visibility in company history. What proves it keeps working: Record Order Book Execution. It stops working if Q1 FY27 revenue vs Rs 450-470 Cr implied 20% run-rate; EBITDA margin vs 18-20% guide. Lever 7 · Consolidation: building. Ammonia-based zero-GWP AC package goals Rs 5,000 Cr market; PLI approved for Rs 320 Cr capex; first commercial units deploying Q1 FY27. What proves it keeps working: PLI-Backed Zephyros AC Platform. It stops working if Q1 FY27 revenue vs Rs 450-470 Cr implied 20% run-rate; EBITDA margin vs 18-20% guide. Lever 1 · Operating leverage: building. Raw material as % of sales improved 630 bps to 50.06% in Q4 FY26, backward integration into motors, heat exchangers, sheet metal providing structural COGS tailwind. What proves it keeps working: Operating Leverage + Backward Integration. It stops working if Q1 FY27 revenue vs Rs 450-470 Cr implied 20% run-rate; EBITDA margin vs 18-20% guide. Lever 2 · Value-added mix: building. India's only complete centrifugal compressor manufacturer, 130 units in field, 85 commissioned, expanding into pharma/tire/textiles beyond core metals and power. What proves it keeps working: Tesco Centrifugal Compressor Franchise. It stops working if Q1 FY27 revenue vs Rs 450-470 Cr implied 20% run-rate; EBITDA margin vs 18-20% guide. Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Kirloskar Pneumatic Company management deliver what it promised? What Kirloskar Pneumatic Company Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Forward Margin Goal Downgraded · 27 April 2026. In the January 2026 call, both the MD and CFO guided an EBIT margin of 20% as the company's sustainable forward goal for FY27, presenting it as a recovery to historical levels. The April 2026 call resets this to EBITDA of 18 to 20% as sustainable, which, given D&A running at ~1.7% of revenue, implies a forward EBIT of approximately 16 to 18%, a material step-down from the 20% EBIT commitment made just one quarter prior. No adequate explanation is offered for why the margin level actually achieved in FY26 (~20% EBIT) is no longer considered attainable going forward. Earlier call (Jan 2026): “We expect that we will get back to our targeted growth rate of 20% on the top line and an EBIT margin of 20% going forward.” Later call (Apr 2026): “A margin expectation of 18% to 20% EBITDA would be more sustainable. While we always strive for higher margins, we must also consider the impact on growth and find a balance.”

Semi-Hermetic Compressor: Tyche Replaced by Taiji Without Explanation · 27 April 2026. In both the October 2025 and January 2026 calls, management extensively tracked 'Tyche' as the company's semi-hermetic compressor, detailing a 1,000 to 2,000-unit annual European import substitution opportunity and reporting the product had reached ~10% market share. Analysts who had been tracking the import substitution ramp and specific market share milestones for Tyche are left without continuity or an update. Later call (Apr 2026): “For the year, we also launched our Taiji semi-hermetic compressors, which we have also sold.”

Revenue Guidance Reversal · 23 January 2026. In the July 2025 call, management guided for sales 'very near 2,000' crores, and in October 2025, explicitly stated they were 'not calling it down at all' when asked about this goal. However, in the latest January 2026 call, they lowered the full-year guidance to 1,800-1,850 crores, contradictory to the confidence expressed just one quarter prior. Later call (Jan 2026): “We expect to close the year with sales of about 1,800 to 1,850 crores... growth of about 12-14% on the top line.”

Contradiction on Order Finalization · 23 January 2026. During the October 2025 call, management claimed they had 'finalized' large orders and were merely waiting for signatures to book them in Q3. In direct contradiction, the January 2026 call admits that 'practically no big orders' were finalized throughout the entire calendar year and the current order book contains 'no large package orders.' Earlier call (Oct 2025): “I know that there are some big orders that we have finalized... We will book these orders in Q3. We also expect that some of the delayed decisions will now be cleared.” Later call (Jan 2026): “Last year, we had nearly 600 crores of large package orders in this. This year, however, we have no large package orders... throughout last year, there were practically no big orders being finalized in this space.”

Every quote above is taken word for word from the company’s own earnings calls. ## What is Kirloskar Pneumatic Company management's track record? Debt-free capital allocation is sound, but repeated goal changes and reduced segment disclosure make forward bridges unreliable. ### Regulatory and governance record

The SAT set aside an insider-trading order involving group executives. Recent disclosed officer and employee sales are a monitoring item, not a fraud finding. Sources:

- [alphastreet.com](https://alphastreet.com/india/kirloskar-pneumatic-company-ltd-505283-q4-fy23-earnings-concall-transcript/)
- [moneylife.in](https://www.moneylife.in/article/kirloskar-insider-trading-case-sat-says-no-locus-and-sets-aside-sebi-order-against-atul-kirloskar-rahul-kirloskar-and-nihal-kulkarni/68639.html)
- [upstox.com](https://upstox.com/stocks/kirloskar-pneumatic-com-l-shareholding)

(Checked 30 August 2026.)

## How much does Kirloskar Pneumatic Company earn on its capital? Kirloskar Pneumatic Company Ltd earned a ROCE of 30% in FY26. That is up from a low of 6% in FY15. Its return on capital used (ROIC) is 18.3 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 14.2% net margin and 1.02× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 14.2% net margin × 1.02× asset turnover × 1.41× leverage (assets divided by equity) ≈ 20.4% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 30.3% − 12.0% = +18.3 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. ## Does Kirloskar Pneumatic Company have too much debt? Kirloskar Pneumatic Company Ltd has total debt of ₹1.0 Cr against shareholder equity of ₹1,289 Cr as of Sep 2026, so its debt is 0.00× its equity, which is very little. Year by year, that ratio went from 0.00 in FY22 to 0.00 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Kirloskar Pneumatic Company shareholding pattern? Domestic institutions cut their stake in Kirloskar Pneumatic Company Ltd by 6.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 25.3% of the company. Foreign institutions moved +4.5 points over the same period, to 10.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −6.6 points over 8 quarters, to 25.3%; Foreign institutions: +4.5 points over 8 quarters, to 10.0%; Promoters: −0.1 points over 8 quarters, to 38.8%. Why the owners changed: foreign institutions moved +4.5 points and domestic institutions −6.6 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Kirloskar Pneumatic Company from balance-sheet trouble? For Kirloskar Pneumatic Company Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. Why this happened. The Precision Engineering division leverages KIRLPNU's existing manufacturing capabilities (forgings, castings, precision machining, heat treatment) to serve external customers, a capital-light revenue stream on existing assets. Management committed in January 2026 that it would become a reportable segment from Q1 FY27; the April 2026 call reversed this, saying management will 'avoid talking too much about this business' until sustainability is confirmed. The Rs 500 Cr order book is real, but the segment is de-facto excluded from formal disclosure. Once reportable, it could be a meaningful PAT contributor given the in-house manufacturing leverage. ## How does Kirloskar Pneumatic Company rank in its industry? 51.5 out of 100, rank 2 of 5 in Compressors, with 93% of the evidence available. Kirloskar Pneumatic Company Ltd scores 51.5 out of 100 against the 5 companies it is compared with in Compressors, ranking 2. Earnings are strong; relative strength in its sector is -26.4% and the one-year return is -3.8%. The four parts add up to the total exactly: 24.3 + 15.4 + 11.8 + 0 = 51.5. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Kirloskar Pneumatic Company compared with? Kirloskar Pneumatic Company ranks 2 of 5 Compressors companies on the 4-Factor Sector Score, with 51.5 out of 100. 1. [Elgi Equipments Ltd](https://www.sectoralpha.in/stocks/elgi-equipments-ltd) ELGIEQUIP · losing its lead · Evidence leans up · 96% evidence 55.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.2/35 · Revenue 15.9% · Profit 22.8% · Operating margin change 1 points · 88% evidence Capital efficiency 12.4/25 · ROCE 22.1% · Operating margin 15% · 100% evidence Valuation 13.3/20 · P/E 34.8× · PEG 1.68 · 100% evidence Relative strength 4.2/20 · Lead over its industry -15.3% · Lead over NIFTY 500 -1% · 1 year 2.3% · 100% evidence · 6 of 12 weeks ahead Exact sum: 25.2 + 12.4 + 13.3 + 4.2 = 55.1 · What this means: Earnings are strong; relative strength in its sector is -15.3% and the one-year return is 2.3%. 2. Kirloskar Pneumatic Company Ltd this page KIRLPNU · quiet · Evidence leans up · 93% evidence 51.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 9.1% · Profit 39.3% · Operating margin change -3 points · 100% evidence Capital efficiency 15.4/25 · ROCE 29.6% · Operating margin 12% · 100% evidence Valuation 11.8/20 · P/E 27.9× · PEG 1.48 · 65% evidence Relative strength 0.0/20 · Lead over its industry -26.4% · Lead over NIFTY 500 -14.6% · 1 year -3.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 24.3 + 15.4 + 11.8 + 0 = 51.5 · What this means: Earnings are strong; relative strength in its sector is -26.4% and the one-year return is -3.8%. 3. [Ingersoll-Rand (India) Ltd](https://www.sectoralpha.in/stocks/ingersoll-rand-indialtd) INGERRAND · turning · Evidence leans down · 96% evidence 42.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.5/35 · Revenue 8.6% · Profit 0.8% · Operating margin change 0 points · 88% evidence Capital efficiency 19.1/25 · ROCE 57.1% · Operating margin 24% · 100% evidence Valuation 1.9/20 · P/E 46.3× · PEG 3.19 · 100% evidence Relative strength 10.2/20 · Lead over its industry -10.4% · Lead over NIFTY 500 4.9% · 1 year 5.4% · 100% evidence · 3 of 12 weeks ahead Exact sum: 11.5 + 19.1 + 1.9 + 10.2 = 42.7 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 4. [Veljan Denison Ltd](https://www.sectoralpha.in/stocks/veljan-denison-ltd) VELJAN · breaking out · Evidence leans down · 81% evidence 40.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.0/35 · Revenue 2.2% · Profit 0.8% · Operating margin change 0.3 points · 88% evidence Capital efficiency 10.8/25 · ROCE 15% · Operating margin 25.7% · 100% evidence Valuation 5.0/20 · P/E 35.2× · PEG 2.06 · 100% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 52.8% · 1 year n/a · 25% evidence · 12 of 12 weeks ahead Exact sum: 12 + 10.8 + 5 + 12.5 = 40.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Airfloa Rail Technology Ltd](https://www.sectoralpha.in/stocks/airfloa-rail-technology-ltd) AIRFLOA · Too little evidence to rank firmly · 22% evidence 52.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.4/43.75 · Revenue n/a · Profit n/a · Operating margin change -6 points · 15% evidence Capital efficiency 18.6/31.25 · ROCE 25.9% · Operating margin 18% · 57% evidence Valuation 14.4/25 · P/E 22× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 19.4 + 18.6 + 14.4 = 52.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Compressors](https://www.sectoralpha.in/sectors/compressors), all 5 compared on one page. ## Which companies are close to Kirloskar Pneumatic Company in size? Kirloskar Pneumatic Company is the 3rd largest of 5 Compressors companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Elgi Equipments and Ingersoll-Rand (India). Just below it: Veljan Denison and Airfloa Rail Technology. ### Compressors companies close in size

1. [Elgi Equipments Ltd](https://www.sectoralpha.in/stocks/elgi-equipments-ltd) ₹16,132 crore
2. [Ingersoll-Rand (India) Ltd](https://www.sectoralpha.in/stocks/ingersoll-rand-indialtd) ₹12,717 crore
3. Kirloskar Pneumatic Company Ltd ₹6,998 crore
4. [Veljan Denison Ltd](https://www.sectoralpha.in/stocks/veljan-denison-ltd) ₹922 crore
5. [Airfloa Rail Technology Ltd](https://www.sectoralpha.in/stocks/airfloa-rail-technology-ltd) ₹861 crore

[All 5 Compressors companies, largest first](https://www.sectoralpha.in/sectors/compressors#all-companies)

### Companies close in size in other industries

1. [Indiabulls Limited](https://www.sectoralpha.in/stocks/indiabulls-limited) ₹7,036 crore · Diversified
2. [TTK Prestige Ltd](https://www.sectoralpha.in/stocks/ttk-prestige-ltd) ₹6,999 crore · Domestic Appliances
3. Kirloskar Pneumatic Company Ltd ₹6,998 crore
4. [Embassy Developments Ltd](https://www.sectoralpha.in/stocks/embassy-developments-ltd) ₹6,996 crore · Miscellaneous
5. [NESCO Ltd](https://www.sectoralpha.in/stocks/nesco-ltd) ₹6,985 crore · Realty - Commercial

## What else do people ask about Kirloskar Pneumatic Company? ### What is Kirloskar Pneumatic Company's share price today? Kirloskar Pneumatic Company Ltd's share price is ₹549.70, −1.7% over the past year. The whole company is worth ₹7,150 Cr on the market. In the last 52 weeks it traded between ₹514 to ₹999; today it is 7% of the way up from the low, 20.9% below its 200-day average (as of 3 November 2026). ### What were Kirloskar Pneumatic Company's latest quarterly results? Kirloskar Pneumatic Company Ltd reported revenue of ₹326 Cr and net profit of ₹40.0 Cr for the Sep 2026 quarter. Revenue fell 15.5% and profit fell 9.1% compared with a year earlier. Earnings per share were ₹3.08. The operating margin was 12.0%, 3.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Kirloskar Pneumatic Company's market cap? Kirloskar Pneumatic Company Ltd's market capitalisation is ₹7,150 Cr at a share price of ₹549.70. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Kirloskar Pneumatic Company performing? Kirloskar Pneumatic Company Ltd's share price has been falling for 2 weeks. In its latest quarter, revenue fell 15.5% and profit fell 9.1% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 16 weeks running (as of 3 November 2026). ### Will Kirloskar Pneumatic Company's share price go up? This page does not forecast Kirloskar Pneumatic Company Ltd's share price. What it shows instead: the share price is ₹549.70, and it has been falling for 2 weeks. Its P/E of 28.5× is higher than 14% of its own last 11 years (as of 3 November 2026). ### Does Kirloskar Pneumatic Company have too much debt? No, Kirloskar Pneumatic Company Ltd has little debt: its debt is 0.00× its equity, and its operating profit is more than 100 times its interest bill. FY26 borrowings were ₹3.0 Cr against equity of ₹1,249 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Kirloskar Pneumatic Company in its business cycle? Kirloskar Pneumatic Company Ltd's FY26 operating margin was 20.0%, against a 16-year range of 7.0% to 20.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 12.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Kirloskar Pneumatic Company story? The main question: the P/E is near the low end of its own history, higher than only 14% of past readings, but results are getting worse. A low multiple can stay low until the quarters turn. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Kirloskar Pneumatic Company a stock worth studying right now? What the numbers show: Kirloskar Pneumatic Company Ltd's P/E is near the low end of its own history, higher than only 14% of past readings, and its quarterly results are still getting worse. The main open question: whether results start to improve. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Kirloskar Pneumatic Company share price forecast for 2026? What is changing at Kirloskar Pneumatic Company, from the latest results and calls: record order book execution, pli-backed zephyros ac platform and operating leverage + backward integration. What would change the story: Revenue, EBIT margin metric switch, segment reportability, and MENA exports, four separate guidance reversals in FY26 make forward earnings bridges unreliable. ### Where does this page get Kirloskar Pneumatic Company's management information? From Kirloskar Pneumatic Company's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. This is research, not advice. We’re not SEBI-registered.