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Results
12-May-22
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Analysis
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KSB
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Net down 8% hit by lower OPM
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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 ended | Year ended |
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Particulars | 202203 | 202103 | Var.(%) | 202112 | 202012 | Var.(%) |
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Net Sales (including other operating income) | 417.70 | 381.60 | 9.46 | 1,497.30 | 1,208.10 | 23.94 | OPM (%) | 13.10 | 16.25 | -315 bps | 13.99 | 13.89 | 10 bps | OP | 54.70 | 62.00 | -11.77 | 209.40 | 167.80 | 24.79 | Other Inc. | 9.50 | 7.20 | 31.94 | 33.70 | 29.10 | 15.81 | PBIDT | 64.20 | 69.20 | -7.23 | 243.10 | 196.90 | 23.46 | Interest | 0.90 | 0.90 | 0 | 5.00 | 3.40 | 47.06 | PBDT | 63.30 | 68.30 | -7.32 | 238.10 | 193.50 | 23.05 | Depreciation | 10.5 | 10.8 | -2.78 | 43.5 | 41.8 | 4.07 | PBT | 52.80 | 57.50 | -8.17 | 194.6 | 151.7 | 28.28 | Share of Profit/(Loss) from Associates | 1.9 | 1.9 | 0 | 6.4 | 5.3 | 20.75 | PBT before EO | 54.7 | 59.4 | -7.91 | 201 | 157 | 28.03 | EO Income | 0 | 0 | - | 0 | 0 | - | PBT after EO | 54.7 | 59.4 | -7.91 | 201 | 157 | 28.03 | Taxation | 14.3 | 15.5 | -7.74 | 51.6 | 63.2 | -18.35 | PAT | 40.4 | 43.9 | -7.97 | 149.4 | 93.8 | 59.28 | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | Net profit | 40.4 | 43.9 | -7.97 | 149.4 | 93.8 | 59.28 | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | Net profit after discontinued operations | 40.4 | 43.9 | -7.97 | 149.4 | 93.8 | 59.28 | EPS (Rs)* | 11.61 | 12.61 | -7.97 | 42.92 | 26.95 | 59.28 | | * 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 |
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KSB : Consolidated Segment Results | | Quarter ended | Year ended |
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| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202112 | 202012 | Var.(%) |
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Sales | Pumps | 83.62 | 349.60 | 317.70 | 10.04 | 84.19 | 1,262.00 | 1,008.20 | 25.17 | Valves | 16.38 | 68.50 | 64.10 | 6.86 | 15.81 | 237.00 | 201.00 | 17.91 | Total Reported Sales | 100.00 | 418.10 | 381.80 | 9.51 | 100.00 | 1,499.00 | 1,209.20 | 23.97 | Less: Inter segment revenues | | 0.40 | 0.20 | 100.00 | | 1.70 | 1.10 | 54.55 | Net Sales | 100.00 | 417.70 | 381.60 | 9.46 | 100.00 | 1,497.30 | 1,208.10 | 23.94 | PBIT | Pumps | 87.96 | 43.10 | 46.80 | -7.91 | 90.44 | 162.80 | 124.30 | 30.97 | Valves | 12.04 | 5.90 | 7.10 | -16.90 | 9.56 | 17.20 | 11.50 | 49.57 | Total PBIT | 100.00 | 49.00 | 53.90 | -9.09 | 100.00 | 180.00 | 135.80 | 32.55 | Less : Interest | | 0.90 | 0.90 | 0 | | 5.00 | 3.40 | 47.06 | Add: Other un-allcoable | | 6.60 | 6.40 | 3.12 | | 26.00 | 24.60 | 5.69 | PBIT Margin(%) | Pumps | | 12.33 | 14.73 | -240.25 | | 12.90 | 12.33 | 57.13 | Valves | | 8.61 | 11.08 | -246.33 | | 7.26 | 5.72 | 153.60 | PBT | 100.00 | 54.70 | 59.40 | -7.91 | 100.00 | 201.00 | 157.00 | 28.03 |
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