Kirloskar Pneumatic aims for near double-digit revenue growth in FY24
In an interview with CNBC-TV18, K Srinivasan, Managing Director of Kirloskar Pneumatic Company, shared details of the order pipeline and the outlook for the upcoming quarters.
Pune-based Kirloskar Pneumatic, a prominent player in the industrial sector, is optimistic about achieving double-digit revenue growth in financial year 2024.
In an interview with CNBC-TV18, K Srinivasan, Managing Director said the Kirloskar Group company has orders in place, is actively building up packages, and anticipates a significant dispatch in the fourth quarter.
The company recently secured orders exceeding ₹250 crore and currently has orders totaling ₹1,546 crore.
Discussing about the export opportunities, Srinivasan explained that Kirloskar Pneumatic primarily focuses on packages for the oil and gas sector in exports, resulting in a somewhat variable business. Exports this year are expected to be around ₹70 crore versus ₹170 crore last year, he said.
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However, the domestic market for oil and gas sector as well as other industries remains vibrant and it compensates not only for the decline in exports but also helps in maintaining growth, he said.
Kirloskar Pneumatic currently has a market capitalisation of ₹4,084.45 crore.
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
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