Motilal Oswal Set Target Price of 1220 for Kirloskar Oil Engines

Motilal Oswal's buy call on Kirloskar Oil Engines, with a target price of Rs 1220, suggests optimism about the company's performance and potential for growth. With the current market price at Rs 1025.95, there appears to be a significant upside potential according to their analysis.

LTP as of 10.05.2024: 1,042.40-11.70 (-1.11%) Volume: 9,36,653

Kirloskar Oil Engines Ltd., established in 2009, operates in the engineering sector and is classified as a Small Cap company, boasting a market cap of Rs 15267.51 Crore.

Their key revenue segments include Engine & Gensets, Sale of services, Scrap, Other Operating Revenue, Export Incentives, Solar Power, Commission. Their consolidated total income for the quarter ending 31-03-2024 saw a healthy increase of 19.28% from the previous quarter and 19.57% from the same quarter last year, reaching Rs 1667.18 Crore. Additionally, the company reported a net profit after tax of Rs 146.46 Crore in the latest quarter.

As of 31-Mar-2024, the promoters held 41.21% stake in the company, while Foreign Institutional Investors (FIIs) owned 9.77% and Domestic Institutional Investors (DIIs) owned 24.75%.

It seems like the company has been on a positive trajectory, which might have influenced Motilal Oswal's bullish outlook with a target price of Rs 1220.