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For Kirloskar Ferrous Ind, capex spend will steer the earnings show

After the steep rise in the KFIL stock price, investors can wait on the sidelines for a better entry point

November 25, 2021 / 01:09 PM IST
For Kirloskar Ferrous Ind, capex spend will steer the earnings show

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The September-quarter results of Kirloskar Ferrous Industries (KFIL; CMP: Rs 230; Nifty: 17500) were in line with Street expectations. KFIL, which manufactures various grades of pig iron and castings, has planned a major capex for the next one year. This will be funded mainly through internal accruals and borrowings. September 2021 quarter results Higher volumes in pig iron was on the back of higher output from the acquired Hiriyur plant. Hiriyur plant volumes for the September 2022 quarter stood at 40,000...

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