Capitaline

Sales of Pumps segment has gone up 31.57% to Rs 501.80 crore (accounting for 84.75% of total sales). Sales of Valves segment has gone up 33.98% to Rs 90.30 crore (accounting for 15.25% of total sales). Inter-segment sales rose Rs 0.40 crore to Rs 0.80 crore.

Profit before interest, tax and other unallocable items (PBIT) has jumped 31.89% to Rs 76.10 crore. PBIT of Pumps segment rose 19.26% to Rs 64.40 crore (accounting for 84.63% of total PBIT). PBIT of Valves segment rose 216.22% to Rs 11.70 crore (accounting for 15.37% of total PBIT).

PBIT margin of Pumps segment fell from 14.16% to 12.83%. PBIT margin of Valves segment rose from 5.49% to 12.96%. Overall PBIT margin fell from 12.86% to 12.85%.

For year-to-date (YTD) results analysis.

Consolidated net sales (including other operating income) of KSB for half year ended Jun 2023 has increased 24.80% to Rs 1080.9 crore. Sales of Pumps segment has gone up 25.13% to Rs 914.70 crore (accounting for 84.51% of total sales). Sales of Valves segment has gone up 23.33% to Rs 167.60 crore (accounting for 15.49% of total sales). Inter-segment sales rose Rs 0.80 crore to Rs 1.40 crore.

Profit before interest, tax and other unallocable items (PBIT) has jumped 18.93% to Rs 126.90 crore. PBIT of Pumps segment rose 8.86% to Rs 105.70 crore (accounting for 83.29% of total PBIT). PBIT of Valves segment rose 120.83% to Rs 21.20 crore (accounting for 16.71% of total PBIT).

PBIT margin of Pumps segment fell from 13.28% to 11.56%. PBIT margin of Valves segment rose from 7.06% to 12.65%. Overall PBIT margin fell from 12.31% to 11.73%.

Operating profit margin has declined from 13.37% to 13.17%, leading to 22.97% rise in operating profit to Rs 142.40 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 46.90% to 47.84%. Purchase of finished goods cost fell from 9.84% to 8.57%. Employee cost decreased from 13.01% to 12.15%. Other expenses rose from 17.36% to 18.43%.

Other income fell 24.02% to Rs 17.4 crore. PBIDT rose 15.21% to Rs 159.8 crore. Provision for interest fell 26.09% to Rs 1.7 crore.

PBDT rose 15.91% to Rs 158.1 crore. Provision for depreciation rose 9.72% to Rs 23.7 crore.

Profit before tax grew 17.07% to Rs 134.40 crore. Provision for tax was expense of Rs 34.6 crore, compared to Rs 30.9 crore. Effective tax rate was 25.02% compared to 26.03%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 18.11% to Rs 103.70 crore.

Promoters’ stake was 66.69% as of 30 June 2023 ,compared to 66.69% as of 30 June 2022 .

Quarter ended

Year to Date

Year ended

Particulars

202306

202206

Var.(%)

202306

202206

Var.(%)

202212

202112

Var.(%)

Net Sales (including other operating income)

591.30

448.40

31.87

1,080.90

866.10

24.80

1,822.00

1,497.30

21.69

OPM (%)

14.41

13.63

78 bps

13.17

13.37

-20 bps

13.54

13.99

-45 bps

85.20

61.10

39.44

142.40

115.80

22.97

246.70

209.40

17.81

Other Inc.

8.10

13.40

-39.55

17.40

22.90

-24.02

42.20

33.70

25.22

PBIDT

93.30

74.50

25.23

159.80

138.70

15.21

288.90

243.10

18.84

Interest

0.90

1.40

-35.71

1.70

2.30

-26.09

6.10

5.00

22.00

PBDT

92.40

73.10

26.40

158.10

136.40

15.91

282.80

238.10

18.77

Depreciation

11.1

8.11

23.7

21.6

9.72

45.3

43.5

4.14

PBT

80.40

62.00

29.68

134.4

114.8

17.07

237.5

194.6

22.05

Share of Profit/(Loss) from Associates

2.7

35.00

3.9

7.8

6.4

21.87

PBT before EO

83.1

29.84

138.3

118.7

16.51

245.3

201

22.04

EO Income

PBT after EO

83.1

29.84

138.3

118.7

16.51

245.3

201

22.04

Taxation

20.3

16.6

22.29

34.6

30.9

11.97

62.6

51.6

21.32

PAT

62.8

47.4

32.49

103.7

87.8

18.11

182.7

149.4

22.29

Minority Interest (MI)

Net profit

62.8

47.4

32.49

103.7

87.8

18.11

182.7

149.4

22.29

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

62.8

47.4

32.49

103.7

87.8

18.11

182.7

149.4

22.29

EPS (Rs)*

18.04

13.62

32.49

29.79

25.22

18.11

52.48

42.92

22.29

* 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

Quarter ended

Year to Date

Year ended

% of (Total)

202306

202206

Var.(%)

% of (Total)

202306

202206

Var.(%)

% of (Total)

202212

202112

Var.(%)

Sales

Pumps

84.75

501.80

381.40

31.57

84.51

914.70

731.00

25.13

83.43

1,521.90

1,262.00

20.59

Valves

15.25

90.30

67.40

33.98

15.49

167.60

135.90

23.33

16.57

302.30

237.00

27.55

Others

0.00

Total Reported Sales

100.00

592.10

448.80

31.93

100.00

1,082.30

866.90

24.85

100.00

1,824.20

1,499.00

21.69

Less: Inter segment revenues

0.80

0.40

100.00

1.40

0.80

75.00

2.20

1.70

29.41

Net Sales

100.00

591.30

448.40

31.87

100.00

1,080.90

866.10

24.80

100.00

1,822.00

1,497.30

21.69

PBIT

Pumps

84.63

64.40

54.00

19.26

83.29

105.70

97.10

8.86

87.96

197.20

162.80

21.13

Valves

15.37

11.70

3.70

216.22

16.71

21.20

9.60

120.83

12.04

27.00

17.20

56.98

Others

0.00

Total PBIT

100.00

76.10

57.70

31.89

100.00

126.90

106.70

18.93

100.00

224.20

180.00

24.56

Less : Interest

0.90

1.40

-35.71

1.70

2.30

-26.09

6.10

5.00

22.00

Add: Other un-allcoable

7.90

7.70

2.60

13.10

14.30

-8.39

27.20

26.00

4.62

PBIT Margin(%)

Pumps

12.83

14.16

-132.46

11.56

13.28

-172.75

12.96

12.90

5.73

Valves

12.96

5.49

746.72

12.65

7.06

558.51

8.93

7.26

167.41

Others

0.00

PBT

100.00

83.10

64.00

29.84

100.00

138.30

118.70

16.51

100.00

245.30

201.00

22.04