Results     12-May-22
Analysis
KSB
Net down 8% hit by lower OPM

Net sales (including other operating income) of KSB has increased 9.46% to Rs 417.7 crore.  Operating profit margin has declined from 16.25% to 13.10%, leading to 11.77% decline in operating profit to Rs 54.70 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 45.46% to 46.28%.   Purchase of finished goods cost rose from 4.92% to 9.00%.   Employee cost decreased from 13.40% to 13.14%.   Other expenses fell from 20.23% to 18.79%.   Other income rose 31.94% to Rs 9.5 crore.  PBIDT fell 7.23% to Rs 64.2 crore.  PBDT fell 7.32% to Rs 63.3 crore.  Provision for depreciation fell 2.78% to Rs 10.5 crore.  Profit before tax down 8.17% to Rs 52.80 crore.  Provision for tax was expense of Rs 14.3 crore, compared to Rs 15.5 crore.  Effective tax rate was 26.14% compared to 26.09%. Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 7.97% to Rs 40.40 crore.  

 

  • Sales of Pumps segment has gone up 10.04% to Rs 349.60 crore (accounting for 83.62% of total sales).  Sales of Valves segment has gone up 6.86% to Rs 68.50 crore (accounting for 16.38% of total sales).  Inter-segment sales rose Rs 0.20 crore to Rs 0.40 crore.  
  • Profit before interest, tax and other unallocable items (PBIT) has slumped 9.09% to Rs 49.00 crore.  PBIT of Pumps segment fell 7.91% to Rs 43.10 crore (accounting for 87.96% of total PBIT).  PBIT of Valves segment fell 16.90% to Rs 5.90 crore (accounting for 12.04% of total PBIT).  
  • PBIT margin of Pumps segment fell from 14.73% to 12.33%.  PBIT margin of Valves segment fell from 11.08% to 8.61%.  Overall PBIT margin fell from 14.12% to 11.72%.  
 

Others

Promoters’ stake was 66.69% as of 31 March 2022, compared to 66.69% as of 31 March 2021.  

 
 

 

KSB : Consolidated Results
 Quarter endedYear ended
Particulars202203202103Var.(%)202112202012Var.(%)
Net Sales (including other operating income)417.70381.609.461,497.301,208.1023.94
OPM (%)13.1016.25-315 bps13.9913.8910 bps
OP54.7062.00-11.77209.40167.8024.79
Other Inc.9.507.2031.9433.7029.1015.81
PBIDT64.2069.20-7.23243.10196.9023.46
Interest0.900.9005.003.4047.06
PBDT63.3068.30-7.32238.10193.5023.05
Depreciation10.510.8-2.7843.541.84.07
PBT52.8057.50-8.17194.6151.728.28
Share of Profit/(Loss) from Associates1.91.906.45.320.75
PBT before EO54.759.4-7.9120115728.03
EO Income00-00-
PBT after EO54.759.4-7.9120115728.03
Taxation14.315.5-7.7451.663.2-18.35
PAT40.443.9-7.97149.493.859.28
Minority Interest (MI)00-00-
Net profit40.443.9-7.97149.493.859.28
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations40.443.9-7.97149.493.859.28
EPS (Rs)*11.6112.61-7.9742.9226.9559.28
* EPS is on current equity of Rs 34.81 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database


KSB : Consolidated Segment Results
 Quarter endedYear ended
% of (Total)202203202103Var.(%)% of (Total)202112202012Var.(%)
Sales
Pumps83.62349.60317.7010.0484.191,262.001,008.2025.17
Valves16.3868.5064.106.8615.81237.00201.0017.91
Total Reported Sales100.00418.10381.809.51100.001,499.001,209.2023.97
Less: Inter segment revenues 0.400.20100.00 1.701.1054.55
Net Sales100.00417.70381.609.46100.001,497.301,208.1023.94
PBIT
Pumps87.9643.1046.80-7.9190.44162.80124.3030.97
Valves12.045.907.10-16.909.5617.2011.5049.57
Total PBIT100.0049.0053.90-9.09100.00180.00135.8032.55
Less : Interest0.900.9005.003.4047.06
Add: Other un-allcoable6.606.403.1226.0024.605.69
PBIT Margin(%)
Pumps 12.3314.73-240.25 12.9012.3357.13
Valves 8.6111.08-246.33 7.265.72153.60
PBT100.0054.7059.40-7.91100.00201.00157.0028.03
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