Kirloskar Electric Reports Significant EBITDA Growth in Q2 Despite Revenue Decline and Announces Management Reorganization

Kirloskar Electric Co , a prominent player in the Indian electrical equipment sector, has reported a remarkable improvement in its financial performance for the second quarter, despite facing a decline in revenue. The company has also announced significant changes in its senior management structure.

Key Financial Highlights

Metric	Q2 FY2024	Q2 FY2023	YoY Change
Revenue	₹1.40 billion	₹1.62 billion	-13.58%
EBITDA	₹64.00 million	₹0.60 million	+10,566.67%
EBITDA Margin	4.53%	0.04%	+4.49 pp
Net Profit	₹63.00 million	₹52.00 million	+21.15%

EBITDA Performance

The most striking aspect of Kirloskar Electric's Q2 results is the substantial growth in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The company reported an EBITDA of ₹64.00 million, a significant increase from ₹0.60 million in the same quarter last year. This remarkable growth indicates a strong improvement in the company's operational efficiency and cost management strategies.

Profitability Improvement

The EBITDA margin saw a substantial enhancement, rising to 4.53% from 0.04% in the previous year. This 4.49 percentage point increase reflects the company's ability to generate higher profits from its operations, despite the challenging revenue environment.

Revenue Challenges

While Kirloskar Electric demonstrated impressive profitability gains, it faced headwinds in terms of revenue. The company's Q2 revenue declined to ₹1.40 billion from ₹1.62 billion in the corresponding period last year, representing a 13.58% decrease. This decline suggests potential challenges in market demand or competitive pressures in the electrical equipment sector.

Net Profit Growth

Despite the revenue contraction, Kirloskar Electric managed to increase its net profit to ₹63.00 million, up from ₹52.00 million in the same quarter of the previous year. This 21.15% growth in net profit, coupled with the significant EBITDA improvement, indicates effective cost control measures and possibly a more favorable product mix.

Management Reorganization

In a significant development, Kirloskar Electric has implemented changes in its senior management due to internal reorganization, effective immediately. The reorganization affects multiple senior positions including Vice Presidents across various divisions such as Human Resources, Information Technology, Legal & Secretarial, and different business units like HT Machines, LT Transformers, Cast Resin Transformers, Oil Filled Transformers, Switchgear, and Sales & Marketing divisions.

Financial Results Approval

The company's Board of Directors, led by Executive Chairman Vijay Ravindra Kirloskar, approved the unaudited standalone and consolidated financial results for the quarter and six months ended September 30, 2023, at their meeting on November 11, 2023. These results were subject to limited review by statutory auditors and approved by the Audit Committee.

Looking Ahead

The company's ability to substantially improve its EBITDA and net profit in the face of revenue challenges demonstrates resilience and effective management. However, the decline in revenue warrants attention and may require strategic initiatives to stimulate growth in the coming quarters.

Investors and market observers will likely keep a close watch on Kirloskar Electric's future performance, particularly its ability to maintain profitability improvements while addressing the revenue decline. The company's strategies for market expansion, product innovation, and cost optimization, along with the impact of the recent management reorganization, will be crucial in shaping its financial trajectory in the competitive electrical equipment market.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.92%	-3.08%	-7.05%	-15.95%	-35.86%	+871.38%

Kirloskar Electric Co Limited (KECL) has announced the completion of Dr. Ashok Misra's second term as an Independent Director. The company disclosed this information in a regulatory filing to the stock exchanges on November 4, 2025.

Key Details of Dr. Misra's Departure

Aspect	Details
Director Name	Dr. Ashok Misra
DIN	00006051
Position	Independent Director
Term Completed	Second term of five consecutive years
Effective Date of Cessation	November 4, 2025 (close of business hours)
Committee Memberships Ceased	Audit Committee, Nomination and Remuneration Committee

Impact on Board Composition

The company stated that there is no requirement to reconstitute the board committees following Dr. Misra's retirement. KECL affirmed that the composition of the committees remains in compliance with SEBI LODR Regulations and the Companies Act, 2013.

Board's Acknowledgement

The Board of Directors expressed their sincere gratitude for Dr. Misra's invaluable contributions during his tenure. They specifically acknowledged and appreciated his professional guidance and support to the company.

Regulatory Compliance

This announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Additional Corporate Updates

In a separate announcement on the same day, KECL informed that a Board of Directors meeting is scheduled for November 11, 2025, to consider and approve the unaudited financial results for the quarter and half-year ended September 30, 2025. The company also notified that the trading window for dealing in company securities will remain closed until November 13, 2025, in line with the company's Code of Conduct.

Investors and stakeholders of Kirloskar Electric Company Limited should take note of these corporate governance updates.