Kirloskar Pneumatic Company Limited — Investor Meet, 03-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Kirloskar Pneumatic faced a tough Q2 and H1 FY '26, with sales dropping to INR 650 Cr (H1) and PAT at INR 71 Cr. Order booking hit INR 1,667 Cr. Challenges include muted domestic project clearances and losing gas compression market share due to pricing. Yet, Tezcatlipoca centrifugal compressors and Khione refrigeration packages saw strong demand. KPCL is set to enter the INR 5,000 Cr commercial AC market with its unique, indigenous Zephyros C system. Management expects a strong H2, targeting double-digit growth for FY '26 and maintaining 18-20% core operating margins, fueled by new orders and in-house manufacturing. Confident outlook on strategic shifts.