Industrial products company Kennametal India announced Q4FY23 & FY23 results: Sale of Rs 10,771 million, 8.7% higher than FY22. Profit before tax for FY23 was Rs 1,176 million, down 22.9% over FY22. In Q4FY23 (ended June 30, 2023), sales grew to Rs 2,793 million, 4% higher as compared to Q4FY22. Profit before tax was Rs 269 million, down 29.6% over Q4FY22. Strong domestic demand and focus on strategic priorities helped achieve sales growth, though there were negative effects from global economic headwinds like foreign exchange, inflation, and a slower recovery in China. Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, Kennametal India, said, “Our financial performance for FY23 mirrors the resilience of the key sectors where we operate. We achieved volume growth, especially in the Hard Metals segment, though exports were impacted by global macroeconomic headwinds. Our price realization efforts helped mitigate cost pressures stemming from commodity inflation. We continued to execute on our strategic imperatives and saw success from new product innovations and partnering with customers to deliver value.” Result PDF
Industrial Products company Kennametal India announced Q3FY23 (year ending Jun'23) results: Sales grew to Rs 2,557 million, 4% higher as compared to Q3FY22 Profit Before Tax (PBT) was Rs 220 million, down 39% over Q3FY22 While the Hard Metals segment witnessed growth, there was an impact due to manufacturing under absorption The Machine Tools segment sales saw a decline in its export revenue due to a slower reopening in China KIL announced an Interim dividend of Rs 20/- per share for FY23 as against Rs 24/- per share for FY22 Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, KIL said, “During the quarter, we benefitted from price realization, volume growth, easing of supply chain constraints, and resilience in our end markets of transportation, aerospace, energy, construction, mining, and general engineering. We successfully partnered with several of our customers in catering to domestic market demand through innovative solutions, new product introductions, as well as robust application and technical service support.” Result PDF
Kennametal India announced Q2FY23 Results: Q2FY23: On a consolidated basis, sales grew to Rs 2,673 million, 12.5% higher as compared to the same quarter last fiscal. Profit Before Tax (PBT) was Rs 391 million, up 3.4% over the same quarter, last fiscal. Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, KIL said, “Despite various headwinds this quarter, our focus remains on the execution of commercial and operational excellence initiatives, as well as delivering on customer commitments, while managing costs and improving efficiency. At the same time, we continue to innovate and introduce new products, solutions and applications that enable our customers to improve their performance and productivity.” Result PDF
Kennametal India announced Q1FY23 results: Kennametal India reported all-time high consolidated income of Rs 1000.1 crore Registered a healthy Profit Before Tax (PBT) of Rs 152.6 crore, up 55% over last year. The revenue from operations was at Rs 990.7 crore, 16% higher than FY21 On a consolidated basis, sales grew to Rs 268.6 crore, 27% higher as compared to the same quarter last fiscal. PBT was Rs 38.2 crore, up 31% over the same quarter, last fiscal. Commenting on the results, Mr. Vijaykrishnan Venkatesan, Managing Director, Kennametal India said, “Our sound financial performance reflects the resilience and commitment demonstrated by the team in delivering on strategic initiatives despite challenges in the macroeconomic environment, including inflation. During the year, we continued to expand and diversify our customer base across segments. Our steadfast focus on innovation - balancing horizontal deployment of proven solutions with new launches, enabled customers to achieve productivity and performance. Our growth initiatives, combined with commercial and operational efficiencies helped us achieve profitable growth in FY22, and we will endeavor to progress in FY23.” Result PDF
Conference Call with Kennametal India Management and Institutional Analysts on Business Performance and Outlook. Listen to the full transcript.