KIL Reports a Fourth Quarter of FY 2023, With Consolidated Year-to-Date Net Profit at INR 460 Crore

By modernplasticsmeddleeast On May 29, 2023

KIL Reports a Fourth Quarter of FY 2023, With Consolidated Year-to-Date Net Profit at INR 460 Crore

Kirloskar Industries Ltd (KIL) (BSE: 500243; NSE: KIRLOSIND), announced today its audited financial results for the fourth quarter and the full year ended March 31, 2023.

Commenting on the Q4 and the full-year results, Mr.Mahesh Chhabria, Managing Director, KIL, said, ”The past year has primarily been dedicated to reorienting the Company. The Management has decided to focus on its real estate business and that of its wholly owned subsidiary “Avante Spaces Limited” (Avante) and optimize returns on its investment portfolio. In view of the same, the Management is desirous of monetizing its assets. During the year we sold our 17.41% stake in Swaraj Engines Limited for an aggregate consideration of approximately INR 296 crore. Further, the board has approved the sale of the windmill business to ISMT Limited, our step-down subsidiary. This is subject to all the necessary approvals. The first commercial project of Avante is progressing as planned and it has already sold approx 1.2 lakh sq ft area in the project.”

Review of Q4 & FY 2022-23 Financial Performance (Consolidated):

Total Income at INR 1,592.1 Cr for Q4 FY23 vs INR 1,053.7 Cr for Q4 FY22; 51% increase Y-o-Y
PBT at INR 164.6 Cr for Q4 FY23 vs INR 79.1 Cr for Q4 FY22; 108% increase Y-o-Y
PAT* at INR 93.1 Cr for Q4 FY23 vs loss of INR 4.4 Cr for Q4 FY22
Total Income at INR 6,536.0 Cr for FY23 vs INR 3,820.8 Cr for FY22; 71% increase Y-o-Y, please note that FY 23 includes the performance of our step-down subsidiary ISMT Ltd
PBT at INR 657.8 Cr for FY23 vs INR 568.3 Cr for FY22; 16% increase Y-o-Y
PAT* at INR 459.5 Cr for FY23 vs INR 316.2 Cr for FY22; 45% increase Y-o-Y

Review of Q4 & FY 2022-23 Financial Performance (Standalone):

Total Income at INR 40.4 Cr for Q4 FY23 vs INR 29.1 Cr for Q4 FY22; 39% increase Y-o-Y
PBT at INR 32.2 Cr for Q4 FY23 vs INR 22.5 Cr for Q4 FY22; 43% increase Y-o-Y
PAT* at INR 25.0 Cr for Q4 FY23 vs INR 16.0 Cr for Q4 FY22; 57% decrease Y-o-Y
Total Income at INR 118.3 Cr for FY23 vs INR 102.7 Cr for FY22; 15% increase Y-o-Y
PBT at INR 93.4 Cr for FY23 vs INR 80.1 Cr for FY22; 17% increase Y-o-Y
PAT* at INR 74.1 Cr for FY23 vs INR 60.9 Cr for FY22; 22% increase Y-o-Y

www.pitchforkpartners.com

#modernplasticsindia #plasticmagazine #indianmagazine #indianplasticmagazine #modernplasticsaward #ginujoseph #modernplastic #plasticindia #plasticnews #plasticrecycling #modernplasticsglobalnetwork #modernglobalnetwok #modernplasticsaward2023 #PlasticIndustry #pitchforkpartners