Kirloskar Electric Company Ltd (KECL), incorporated in 1946 and based in Bengaluru, is one of India's leading electrical equipment manufacturers. The company specializes in manufacturing a broad range of electrical capital equipment, including AC/DC motors, EV motors, alternators, AC generators, switchgears, transformers, and DG sets. As of February 27, 2024, KECL had installed 3 million motors since its inception, underscoring its substantial presence in the Indian electrical equipment market.
Promoted by Kirloskar Brothers Pune, with technical assistance from Brush Electrical Engineering Co. UK, KECL manufactures and sells a comprehensive suite of electrical and electronic equipment. This includes AC induction motors, transformers, AC generators, DC machines, power electronics, industrial electronics, and various other components. The company has successfully transitioned from a traditional manufacturer to a diversified electrical solutions provider, catering to a wide array of industries and emerging technological demands.
KECL's operations are strategically organized into four primary product groups:
* Transformer and Distribution Group: Specializing in transformers of various types and ratings.
* Large Machine Group: Focusing on larger-scale electrical rotating machines.
* Low Voltage Machine Group: Manufacturing a range of low-voltage motors and related equipment.
* Power Generation Group: Offering solutions for power generation needs.
The company's extensive product portfolio includes AC high and low voltage motors; AC generators; DC motors; DG sets; electronics such as AC and DC drives, battery chargers, and uninterruptible power supply (UPS) systems; and switchgears (vacuum circuit breakers, SF6 circuit breakers, unitized package substations, panels, and porcelain clad vacuum circuit breakers).
KECL also provides specialized traction products like dynamic braking resistors, AC and DC traction motors, traction alternators, and radiator cooling fans. Furthermore, it manufactures cast resin, distribution, power, energy, and special transformers. Demonstrating its commitment to future technologies, KECL caters to the electric mobility sector by supplying motors for electric vehicles and offers customized electrical solutions tailored to specific client needs.
Kirloskar Electric serves a diverse range of critical industries including power generation, transmission, and distribution, transportation, renewable energy, sugar, cement, steel, agriculture, oil and gas, refinery, and nuclear sectors. KECL is a recognized exporter in its domain, holding an Export House Certificate from the Ministry of Commerce & Industry. Its products are distributed across international markets such as the USA, Europe, Singapore, South Africa, Malaysia, Japan, Korea, Indonesia, the Philippines, Thailand, Vietnam, and Bangladesh.
The company has cemented its position as a significant player in the power infrastructure domain, having supplied over 15,000 MVA transformers currently operating within the T&D network. KECL manufactures transformers up to 100 MVA and 220 kV, serving captive, utility, and industrial users.
As per the latest available data, Kirloskar Electric Company Ltd holds a market capitalization of ₹937.50 Cr. The company's recent financial performance presents a mixed picture. For the quarter ended 2024, KECL reported a consolidated profit of Rs 3.10 crore on a total income of Rs 121.30 crore. For the full year ended December 2024, the company posted a profit of Rs 0.57 crore on a total income of Rs 121.31 crore.
However, the company has encountered challenges in more recent periods. KECL's net profit saw a significant decline of -171.03% year-on-year, resulting in ₹-3.85 Cr in Q4 2024-2025. On a quarterly sequential basis, KECL experienced a -775.44% fall in net profits over the preceding three months. Despite these quarterly fluctuations, the company's consolidated revenue from operations in FY23 reached ₹473.55 crore, an increase from ₹334.67 crore in FY22.
* Market Capitalisation: ₹937.50 Cr (as of current date)
* Revenue: ₹544 Cr (latest reported period)
* Net Profit: ₹3.74 Cr (latest reported period)
* Q4 2024-25 Net Profit: ₹-3.85 Cr
* 52-week High: ₹254.79
* 52-week Low: ₹106.06
In 2008, Kirloskar Electric Company completed the strategic acquisition of Germany's Lloyd Dynamowerke GmbH & Co KG (LDW), a manufacturer of drive systems and electrical rotating machines and a former member of AEG. This acquisition was aimed at gaining complementary engineering expertise, establishing a European footprint, and accessing a crucial customer base. Earlier, in 1997, the company had made a strategic acquisition of Kirloskar Systems for Rs 8 Crores.
KECL has also ventured into non-conventional energy through a collaboration with the Wind Energy Group, UK. Furthermore, KEC North American Inc., USA, has been established as KECL's subsidiary in North America, responsible for marketing and distribution.
As of December 2024, the promoter holding in Kirloskar Electric Company Ltd stood at 49.59%, an increase from 49.51% as of March 2024. Kirloskar Electric has five main subsidiaries: KELBUZZ Trading Private Limited, Luxquisite Parkland Private Limited, SLPKG Estate Holdings Private Limited, SKG Terra Promenade Private Limited, and Kirsons BV.
Kirloskar Electric Company has appointed Meena Kirloskar as Vice Chairperson, elevating her from a non-executive role to bolster leadership for future challenges. The company reported audited FY25 results with a qualified audit opinion on subsidiary dues, though the going concern status was affirmed. Ongoing restructuring plans and asset monetization initiatives are also in progress.
Kirloskar Electric Company Ltd continues to be a significant entity in India's electrical equipment industry, boasting a rich heritage of over seven decades. Despite recent financial headwinds, the company remains focused on innovation, expanding into emerging sectors like electric mobility, and sustaining its robust market presence across numerous industries, both domestically and internationally.
