Kennametal India Limited (KENNAMET) share price

₹4115.10 on NSE as of 2026-10-08. -1.57% on the day. market cap ₹9,012 Cr. P/E 77.2. 52-week range ₹2462.00 to ₹5027.90. Capital Goods.

www.kennametal.com

Kennametal India Q4 FY26: Sales Up 48% to ₹478 Cr, Net Profit ₹89 Cr, and a Stockroom Worth Twice as Much

At a glance

Kennametal India makes very hard cutting tools and special machines that factories use to shape metal. Its financial year runs from July to June, so this entry covers the three months to June 2026.

A tool that cuts steel has to be harder than the steel it cuts. That is the whole job description.

In those three months the company sold goods worth ₹477.6 crore. The same three months a year earlier brought in ₹323.4 crore, a rise of 47.68%.

Net profit, the money left after every cost and tax, was ₹88.8 crore. The same quarter a year earlier left ₹31.3 crore, a rise of 183.71%.

Across the full year to June 2026, sales were ₹1,510.7 crore. Net profit for the year came to ₹196.0 crore. Hard metal products accounted for ₹1,363.6 crore of those sales and machines for ₹147.1 crore.

The busiest character of the year was not a person, but tungsten. It is the metal inside most of the company's tools. Management says the price of a common form of tungsten went from about $30 to $330 a kilo. Somewhere a tungsten miner is having the best year of their life.

Introduction

Kennametal India is a Bengaluru company, and its only factory stands there too. It makes carbide tools and special-purpose machines for other factories. Special-purpose machines are built for one customer's job rather than sold off a shelf.

Carbide here means tungsten carbide, tungsten mixed with carbon into one of the hardest materials industry uses. A drill bit made of it goes through metal roughly the way a knife goes through butter.

The business dates back to 1938, and in November 2026 it holds its 61st yearly shareholder meeting. India Ratings, a credit-rating agency, reports that Kennametal Inc. took control in 2002-03. The American toolmaker bought the Indian company from the WIDIA group. The WIDIA name stayed on the products after the change of owner.

Kennametal Inc. and a related company together own 75% of Kennametal India today. The Indian arm sells under two names, Kennametal and WIDIA. One company, two nameplates, the same very hard metal underneath.

Its customers are factories making cars and bikes, railway parts, defence and aircraft parts, and heavy machinery. India Ratings says the company supplies more than 1,500 customers around the world. In the years to June 2024 and June 2025, no ten customers reached a quarter of sales.

Most sales happen inside India, and India Ratings puts the Indian share at 84% in the year to June 2025. The rest went to buyers in the United States, Europe, China and elsewhere. Exports therefore made up a small part of the total in that year.

Business model

The company runs two counters. One sells something small that factories buy again and again. The other sells something large that a factory buys once in several years. It is the difference between a shop's soap shelf and its one fridge.

Counter one is hard metal products: cutting tools and the replaceable tips called inserts. A factory fixes an insert into a machine, and the insert carves metal parts. Inserts wear out, so the factory comes back for more. It is soap, if soap cost a lot and cut through steel.

In the year to June 2026 this counter sold ₹1,363.6 crore of goods. Some are made in Bengaluru and others come from group factories abroad. The CFO says about 45% of the company's products are imported. The buyers are factories, which pay for tools as a running cost of production.

Counter two is machining solutions, custom machines built for one customer's job. A car-part maker may need a machine that drills one engine part all day. The company designs it, builds it and services it afterwards. This counter sold ₹147.1 crore in the year to June 2026.

Management says the machine counter is short of floor space at the current site. It says the company also took on very large machine orders, its first of that kind in India. It adds that these orders carried higher development costs. Building a machine nobody has built here before costs something like cooking an unfamiliar dish for a wedding. The company approved a second factory site in November 2025.

The biggest cost is raw material, and above all tungsten. Management says all of the company's tungsten is imported. It says it buys tungsten powder from sources outside China. Management says a common form of tungsten moved from about $30 to $330 a kilo.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Kennametal India Limited.

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