Kennametal India announces First Quarter Results for FY22, ending September 30, 2021

Kennametal India Limited (KIL) reported strong results for the first quarter of FY22 (ending September 30, 2021) in a challenging environment, driven by improved performance in both the Hard Metals and Machine Tools segments.

On a consolidated basis, sales grew to INR 2,375 Mn, 21% higher as compared to the same quarter last fiscal. EBT (before exceptional items) was INR 378 Mn, up 99%. Our performance was driven by positive momentum in the market, spurring an uptick in capacity utilization by customers. Backed by focus on innovation and value driven solutions, our business grew across several of our end customer segments, even though we experienced the impact of economic uncertainties arising mainly from rising commodity prices and supply chain constraints, including the prevailing global chip shortage issue.

Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, KIL said, "I am pleased to share that we made a commendable start to the fiscal by clocking a strong quarter. Our teams have worked relentlessly to meet all our stakeholders needs, while at the same time remaining focused on executing our core strategies, continuing our modernization initiatives, and improving Kennametal India's organization competitiveness."

Shares of Kennametal India Limited was last trading in BSE at Rs. 1448.30 as compared to the previous close of Rs. 1458.90. The total number of shares traded during the day was 979 in over 167 trades.

The stock hit an intraday high of Rs. 1466.40 and intraday low of 1420.00. The net turnover during the day was Rs. 1412590.00.

Source : Equity Bulls

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KennametalIndiaLimited INE717A01029 KENNAMET Q1FY22 ResultUpdate