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15 Feb 2026 00:17

Kennametal India

Sales up 16%, net up 10%

Standalone net sales (including other operating income) of Kennametal India for the quarter ended Dec 2025 has increased 16.38% to Rs 334.00 crore.

Operating profit margin has declined from 14.15% to 13.41%, leading to 10.34% rise in operating profit to Rs 44.80 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 28.15% to 29.35%. Purchase of finished goods cost rose from 25.13% to 27.43%. Employee cost decreased from 14.38% to 13.83%. Other expenses fell from 18.27% to 16.14%.

The OP for the period have the impact of one-time cost of Rs 3.4 crore due to implementation of new labour codes.

Other income fell 21.88% to Rs 2.5 crore. PBIDT rose 7.99% to Rs 47.3 crore. Provision for interest remained nil. Loan funds declined from Rs 2.50 crore as of 31 December 2024 to Rs 2.10 crore as of 31 December 2025. Inventories rose to Rs 348.90 crore as of 31 December 2025 from Rs 277.90 crore as of 31 December 2024. Sundry debtors were higher at Rs 184.00 crore as of 31 December 2025 compared to Rs 168.00 crore as of 31 December 2024. Cash and bank balance declined from Rs 206.70 crore as of 31 December 2024 to Rs 179.40 crore as of 31 December 2025.

PBDT rose 7.76% to Rs 47.2 crore. Provision for depreciation rose 4.39% to Rs 11.9 crore. Fixed assets declined from Rs 291.00 crore as of 31 December 2024 to Rs 280.40 crore as of 31 December 2025. Profit before tax grew 8.95% to Rs 35.30 crore. Provision for tax was expense of Rs 10.9 crore, compared to Rs 10.2 crore. Effective tax rate was 30.88% compared to 31.48%. Profit after tax rose 9.91% to Rs 24.40 crore.

Sales of Machining solutions segment has gone up 7.32% to Rs 44.00 crore (accounting for 13.17% of total sales). Sales of Hard Metal & Hard Metal Products segment has gone up 17.89% to Rs 290.00 crore (accounting for 86.83% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 10.37% to Rs 44.70 crore. PBIT of Machining solutions reported loss of Rs 0.20 crore compared to profit of Rs 1.90 crore. PBIT of Hard Metal & Hard Metal Products segment rose 16.32% to Rs 44.90 crore (accounting for 100.45% of total PBIT).
PBIT margin of Machining solutions segment fell from 4.63% to 0.45%. PBIT margin of Hard Metal & Hard Metal Products segment fell from 15.69% to 15.48%. Overall PBIT margin fell from 14.11% to 13.38%.

For year-to-date (YTD) results analysis

Net sales (including other operating income) of Kennametal India has increased 13.02% to Rs 630.00 crore. Sales of Machining solutions segment has gone up 12.74% to Rs 76.10 crore (accounting for 12.08% of total sales). Sales of Hard Metal & Hard Metal Products segment has gone up 13.06% to Rs 553.90 crore (accounting for 87.92% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 18.52% to Rs 96.00 crore. PBIT of Machining solutions segment fell 59.38% to Rs 1.30 crore (accounting for 1.35% of total PBIT). PBIT of Hard Metal & Hard Metal Products segment rose 21.72% to Rs 94.70 crore (accounting for 98.65% of total PBIT).

PBIT margin of Machining solutions segment fell from 4.74% to 1.71%. PBIT margin of Hard Metal & Hard Metal Products segment rose from 15.88% to 17.10%. Overall PBIT margin rose from 14.53% to 15.24%.

Operating profit margin has jumped from 14.89% to 15.48%, leading to 17.47% rise in operating profit to Rs 97.50 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 27.31% to 28.69%. Purchase of finished goods cost rose from 25.72% to 27.98%. Employee cost decreased from 13.93% to 12.85%. Other expenses fell from 18.38% to 15.81%. The OP for the period have the impact of one-time cost of Rs 3.4 crore due to implementation of new labour codes.

Other income fell 19.67% to Rs 4.9 crore. PBIDT rose 14.93% to Rs 102.4 crore. Provision for interest remained nil. Loan funds declined from Rs 2.50 crore as of 31 December 2024 to Rs 2.10 crore as of 31 December 2025. Inventories rose to Rs 348.90 crore as of 31 December 2025 from Rs 277.90 crore as of 31 December 2024. Sundry debtors were higher at Rs 184.00 crore as of 31 December 2025 compared to Rs 168.00 crore as of 31 December 2024. Cash and bank balance declined from Rs 206.70 crore as of 31 December 2024 to Rs 179.40 crore as of 31 December 2025.

PBDT rose 14.94% to Rs 102.3 crore. Provision for depreciation rose 3.06% to Rs 23.6 crore. Fixed assets declined from Rs 291.00 crore as of 31 December 2024 to Rs 280.40 crore as of 31 December 2025. Profit before tax grew 19.06% to Rs 78.70 crore. Provision for tax was expense of Rs 22.9 crore, compared to Rs 18.9 crore. Effective tax rate was 29.10% compared to 28.59%.Profit after tax rose 18.22% to Rs 55.80 crore.

Equity capital stood at Rs 22.00 crore as of 31 December 2025 to Rs 22.00 crore as of 31 December 2024. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 75.00% as of 31 December 2025 ,compared to 75.00% as of 31 December 2024 .

Management Comments :
"Our Q2 performance demonstrates our ability to capitalize on India`s economic growth while effectively managing the dynamic tungsten pricing environment," said Vijaykrishnan Venkatesan, Managing Director, Kennametal India Limited. “Supported by volume growth and strategic pricing actions, our performance remained strong— especially within the Hard Metal segment.” As part of a long-term growth strategy, Kennametal India remains committed to advancing manufacturing excellence, expanding its market presence, and delivering value to shareholders.

Kennametal India : Standalone Results

	Quarter ended			Year to Date			Year ended
Particulars	202512	202412	Var.(%)	202512	202412	Var.(%)	202506	202406	Var.(%)
Net Sales (including other operating income)	334.00	287.00	16.38	630.00	557.40	13.02	1,170.30	1,099.90	6.40
OPM (%)	13.41	14.15	-73 bps	15.48	14.89	59 bps	14.71	15.57	-86 bps
OP	44.80	40.60	10.34	97.50	83.00	17.47	172.20	171.30	0.53
Other Inc.	2.50	3.20	-21.88	4.90	6.10	-19.67	14.40	11.50	25.22
PBIDT	47.30	43.80	7.99	102.40	89.10	14.93	186.60	182.80	2.08
Interest	0.1	0	-	0.1	0.1	0.00	0.4	0.6	-33.33
PBDT	47.20	43.80	7.76	102.30	89.00	14.94	186.20	182.20	2.20
Depreciation	11.9	11.4	4.39	23.6	22.9	3.06	46	43.6	5.50
PBT	35.30	32.40	8.95	78.7	66.1	19.06	140.2	138.6	1.15
PBT before EO	35.3	32.4	8.95	78.7	66.1	19.06	140.2	138.6	1.15
EO Income	0	0	-	0	0	-	0	12.7	-
PBT after EO	35.3	32.4	8.95	78.7	66.1	19.06	140.2	151.3	-7.34
Taxation	10.9	10.2	6.86	22.9	18.9	21.16	37.3	40.8	-8.58
PAT	24.4	22.2	9.91	55.8	47.2	18.22	102.9	110.5	-6.88
P/(L) from discontinued operations net of tax	0	0	-	0	0	-	0	0	-
Net profit after discontinued operations	24.4	22.2	9.91	55.8	47.2	18.22	102.9	110.5	-6.88
EPS (Rs)*	11.10	10.10	9.91	25.39	21.48	18.22	46.82	46.05	1.66

* EPS is on current equity of Rs 21.98 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Kennametal India : Standalone Segment Results

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	Quarter ended				Year to Date				Year ended
	% of (Total)	202512	202412	Var.(%)	% of (Total)	202512	202412	Var.(%)	% of (Total)	202506	202406	Var.(%)
Sales
Machining solutions	13.17	44.00	41.00	7.32	12.08	76.10	67.50	12.74	13.11	153.40	146.60	4.64
Hard Metal & Hard Metal Products	86.83	290.00	246.00	17.89	87.92	553.90	489.90	13.06	86.89	1,016.90	953.30	6.67
Total Reported Sales	100.00	334.00	287.00	16.38	100.00	630.00	557.40	13.02	100.00	1,170.30	1,099.90	6.40
Less: Inter segment revenues		0.00	0.00	-		0.00	0.00		0.00	0.00	-
Net Sales	100.00	334.00	287.00	16.38	100.00	630.00	557.40	13.02	100.00	1,170.30	1,099.90	6.40
PBIT
Machining solutions	-0.45	-0.20	1.90	PL	1.35	1.30	3.20	-59.38	3.43	5.80	14.40	-59.72
Hard Metal & Hard Metal Products	100.45	44.90	38.60	16.32	98.65	94.70	77.80	21.72	96.57	163.40	153.40	6.52
Total PBIT	100.00	44.70	40.50	10.37	100.00	96.00	81.00	18.52	100.00	169.20	167.80	0.83
Less : Interest		0.10	0.00	-		0.10	0.10	0		0.40	0.60	-33.33
Add: Other un-allcoable		-9.30	-8.10	-14.81		-17.20	-14.80	-16.22		-28.60	-15.90	-79.87
PBIT Margin(%)
Machining solutions		-0.45	4.63	-508.87		1.71	4.74	-303.25		3.78	9.82	-604.17
Hard Metal & Hard Metal Products		15.48	15.69	-20.83		17.10	15.88	121.62		16.07	16.09	-2.30
PBT	100.00	35.30	32.40	8.95	100.00	78.70	66.10	19.06	100.00	140.20	151.30	-7.34

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