This small-cap stock, engaged in designing, manufacturing, and supplying custom-engineered equipment for drying and heat recovery solutions across industrial sectors like chemicals, food, and energy, is in focus after the company expects 65 percent revenue growth in FY26.
With a market capitalization of Rs. 2,088.33 crore, the shares of Kilburn Engineering Limited closed at Rs. 437 per equity share, up nearly 0.16 percent from its previous day’s close price of Rs. 436.30.
Revenue Guidance: Kilburn Engineering Limited has shared a strong growth outlook for FY26, aiming for a 50 percent year-on-year revenue increase. The company targets a top line of Rs. 650–700 crore (includes revenue from Monga Strayfield), which is exactly 65.09 percent growth compared to FY25 revenue.
Looking ahead, Kilburn’s management is confident of sustaining momentum, projecting a 25-30 percent CAGR in the years beyond FY26. This guidance reflects strong demand, efficient execution, and the company’s strategic positioning in the industrial engineering and thermal processing segments.
Margin Guidance
The company has provided margin guidance for its operations. The consolidated EBITDA margin is expected to be between 20-22 percent, with Monga Strayfield targeting 24–25 percent, M.E. Energy aiming for 15–17 percent, and Kilburn’s standalone projected to achieve a slightly higher margin.
Order Book
Kilburn Engineering Limited’s total order book stands at Rs. 450.41 crore, which includes its subsidiary, Monga Strayfield’s order of Rs. 62.78 crore as of March 2025. The company’s standalone closing order book value stands at Rs. 387.62 crore. It is diversified across various sectors, with oil & gas (Rs. 33.40 crore) contributing 8.6 percent and nuclear power (Rs. 49 crore) at 12.6 percent.
Additionally, the company also received orders from chemical (Rs. 57.83 crore) at 14.9 percent, petrochemical (Rs. 32.39 crore) at 8.4 percent, pharmaceuticals (Rs. 18.26 crore) at 4.7 percent, fertiliser (Rs. 112.37 crore) at 29 percent, tea (Rs. 17.55 crore) at 4.5 percent, others (Rs. 8.21 crore) at 2.1 percent, and carbon black (Rs. 58.61 crore) at 15.1 percent.
Export Order
Kilburn Engineering Limited has an export order backlog of approximately Rs. 160 crore and is targeting 20–30 percent of its revenue from exports within the next 2–3 years. This export growth will be driven by all three entities, such as Kilburn, M.E. Energy, and Monga Strayfield.
Expansion: Kilburn Engineering Limited is also expanding into new areas like the cement and nuclear sectors, which offer big opportunities, while its entry into the pharma sector depends on successful customer trials.
For FY26, the company has planned an indicative capital expenditure of around Rs. 25 crore, with the final amount to be decided in the coming quarters. Additionally, they are considering a brownfield expansion at their Saravali facility.
Overview
Kilburn Engineering Limited was founded in 1987 and is based in Thane, India. The company designs, manufactures, supplies, installs, and commissions customized process equipment and industrial drying systems. The company serves sectors like chemicals, petrochemicals, oil and gas, power, mining, food processing, and exports its products internationally.
Financial highlights
Kilburn Engineering Limited’s revenue has increased from Rs. 122 crore in Q4 FY24 to Rs. 127 crore in Q4 FY25, which has grown by 4.10 percent. The net profit has decreased by 13.04 percent, from Rs. 23 crore in Q4 FY24 to Rs. 20 crore in Q4 FY25.
In terms of return ratios, the company’s ROCE and ROE stand at 21.5 percent and 17.2 percent, respectively. Kilburn Engineering Limited has an earnings per share (EPS) of Rs. 13.1, and its debt-to-equity ratio is 0.19x.
Written By – Nikhil Naik
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