Capitaline

Consolidated net sales (including other operating income) of KSB for the quarter ended Dec 2022 has increased 17.99% to Rs 524.6 crore. Operating profit margin has jumped from 12.69% to 14.64%, leading to 36.17% rise in operating profit to Rs 76.80 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 47.05% to 45.01%. Purchase of finished goods cost fell from 9.38% to 7.15%. Employee cost decreased from 13.33% to 13.06%. Other expenses rose from 17.64% to 19.90%. Other income rose 6.10% to Rs 8.7 crore. PBIDT rose 32.35% to Rs 85.5 crore. Provision for interest rose 31.58% to Rs 2.5 crore. PBDT rose 32.38% to Rs 83 crore. Provision for depreciation rose 9.09% to Rs 12 crore. Profit before tax grew 37.33% to Rs 71.00 crore. Share of profit/loss was 10% higher at Rs 2.2 crore. Provision for tax was expense of Rs 17.3 crore, compared to Rs 14.3 crore. Effective tax rate was 23.63% compared to 26.63%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 41.88% to Rs 55.90 crore.

Sales of Pumps segment has gone up 16.70% to Rs 439.50 crore (accounting for 83.65% of total sales). Sales of Valves segment has gone up 25.40% to Rs 85.90 crore (accounting for 16.35% of total sales). Inter-segment sales rose Rs 0.50 crore to Rs 0.80 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 39.47% to Rs 68.90 crore. PBIT of Pumps segment rose 33.56% to Rs 59.30 crore (accounting for 86.07% of total PBIT). PBIT of Valves segment rose 92.00% to Rs 9.60 crore (accounting for 13.93% of total PBIT).
PBIT margin of Pumps segment rose from 11.79% to 13.49%. PBIT margin of Valves segment rose from 7.30% to 11.18%. Overall PBIT margin rose from 11.10% to 13.11%.

Full year results analysis.

Net sales (including other operating income) of KSB has increased 21.69% to Rs 1822 crore. Sales of Pumps segment has gone up 20.59% to Rs 1,521.90 crore (accounting for 83.43% of total sales). Sales of Valves segment has gone up 27.55% to Rs 302.30 crore (accounting for 16.57% of total sales). Inter-segment sales rose Rs 1.70 crore to Rs 2.20 crore.

Profit before interest, tax and other unallocable items (PBIT) has jumped 24.56% to Rs 224.20 crore. PBIT of Pumps segment rose 21.13% to Rs 197.20 crore (accounting for 87.96% of total PBIT). PBIT of Valves segment rose 56.98% to Rs 27.00 crore (accounting for 12.04% of total PBIT).

PBIT margin of Pumps segment rose from 12.90% to 12.96%. PBIT margin of Valves segment rose from 7.26% to 8.93%. Overall PBIT margin rose from 12.01% to 12.29%.

Operating profit margin has declined from 13.99% to 13.54%, leading to 17.81% rise in operating profit to Rs 246.70 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 46.19% to 47.14%. Purchase of finished goods cost rose from 8.66% to 8.90%. Employee cost decreased from 13.79% to 12.86%. Other expenses rose from 17.94% to 18.10%.

Other income rose 25.22% to Rs 42.2 crore. PBIDT rose 18.84% to Rs 288.9 crore. Provision for interest rose 22% to Rs 6.1 crore. Loan funds stood at Rs 2.90 crore as of 31 December 2022 to Rs 2.90 crore as of 31 December 2021. Inventories rose to Rs 561.10 crore as of 31 December 2022 from Rs 423.10 crore as of 31 December 2021. Sundry debtors were higher at Rs 403.70 crore as of 31 December 2022 compared to Rs 278.00 crore as of 31 December 2021. Cash and bank balance declined from Rs 354.60 crore as of 31 December 2021 to Rs 261.10 crore as of 31 December 2022. Investments rose to Rs 74.20 crore as of 31 December 2022 from Rs 69.70 crore as of 31 December 2021 .

PBDT rose 18.77% to Rs 282.8 crore. Provision for depreciation rose 4.14% to Rs 45.3 crore. Fixed assets increased to Rs 373.50 crore as of 31 December 2022 from Rs 348.50 crore as of 31 December 2021. Intangible assets increased from Rs 1.30 crore to Rs 1.70 crore.

Profit before tax grew 22.05% to Rs 237.50 crore. Share of profit/loss was 21.87% higher at Rs 7.8 crore. Provision for tax was expense of Rs 62.6 crore, compared to Rs 51.6 crore. Effective tax rate was 25.52% compared to 25.67%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 22.29% to Rs 182.70 crore.

Equity capital stood at Rs 34.80 crore as of 31 December 2022 to Rs 34.80 crore as of 31 December 2021. Per share face Value remained same at Rs 10.00.

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

Cash flow from operating activities decreased to Rs 38.20 crore for year ended December 2022 from Rs 62.50 crore for year ended December 2021. Cash flow used in acquiring fixed assets during the year ended December 2022 stood at Rs 106.90 crore, compared to Rs 38.20 crore during the year ended December 2021.