Kennametal India Limited concluded the fiscal FY23, ended June 30, 2023, registering a sale of Rs 10,771 million, 8.7 per cent higher than last fiscal. Profit Before Tax (PBT) for the year was Rs 1176 million, down 22.9 per cent over last year.

In the fourth quarter of FY23 (ended June 30, 2023), sales grew to Rs 2793 Mn, 4 per cent higher as compared to the same quarter last fiscal. Profit Before Tax (PBT) was Rs 269 million, down 29.6 per cent over the same quarter, last fiscal. The company's strong domestic demand and focus on strategic priorities has led to this sales growth, though there were negative effects from global economic headwinds like foreign exchange, inflation and a slower recovery in China.

Vijaykrishnan Venkatesan, Managing Director, Kennametal India said, "Our financial performance for FY23 mirrors the resilience of the key sectors where we operate. We achieved volume growth, especially in the Hard Metals segment, though exports were impacted by global macroeconomic headwinds. Our price realisation efforts helped mitigate cost pressures stemming from commodity inflation. We continued to execute on our strategic imperatives and saw success from new product innovations and partnering with customers to deliver value."