Capitaline

Sales of Pumps segment has gone up 15.65% to Rs 508.30 crore (accounting for 84.24% of total sales). Sales of Valves segment has gone up 10.71% to Rs 95.10 crore (accounting for 15.76% of total sales). Inter-segment sales came down from Rs 0.80 crore to Rs 0.80 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 1.74% to Rs 70.10 crore. PBIT of Pumps segment fell 4.38% to Rs 56.70 crore (accounting for 80.88% of total PBIT). PBIT of Valves segment rose 39.58% to Rs 13.40 crore (accounting for 19.12% of total PBIT).
PBIT margin of Pumps segment fell from 13.49% to 11.15%. PBIT margin of Valves segment rose from 11.18% to 14.09%. Overall PBIT margin fell from 13.11% to 11.62%.

Loan funds rose to Rs 3.20 crore as of 31 December 2023 from Rs 2.90 crore as of 31 December 2022. Inventories rose to Rs 642.60 crore as of 31 December 2023 from Rs 561.10 crore as of 31 December 2022. Sundry debtors were higher at Rs 491.70 crore as of 31 December 2023 compared to Rs 403.70 crore as of 31 December 2022. Cash and bank balance rose to Rs 274.50 crore as of 31 December 2023 from Rs 261.10 crore as of 31 December 2022. Investments rose to Rs 79.50 crore as of 31 December 2023 from Rs 74.20 crore as of 31 December 2022 . Fixed assets increased to Rs 429.00 crore as of 31 December 2023 from Rs 373.50 crore as of 31 December 2022. Intangible assets increased from Rs 1.70 crore to Rs 22.40 crore.

Full year results analysis.

Net sales (including other operating income) of KSB for fiscal ended Dec 2023 has increased 23.34% to Rs 2247.2 crore. Operating profit margin has declined from 13.54% to 13.07%, leading to 19.01% rise in operating profit to Rs 293.60 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 47.14% to 47.95%. Purchase of finished goods cost fell from 8.90% to 8.55%. Employee cost decreased from 12.86% to 12.10%. Other expenses rose from 18.10% to 18.23%. Other income fell 23.46% to Rs 32.3 crore. PBIDT rose 12.81% to Rs 325.9 crore. Provision for interest fell 13.11% to Rs 5.3 crore. PBDT rose 13.37% to Rs 320.6 crore. Provision for depreciation rose 9.71% to Rs 49.7 crore. Profit before tax grew 14.06% to Rs 270.90 crore. Share of profit/loss was 20.51% higher at Rs 9.4 crore. Provision for tax was expense of Rs 71.6 crore, compared to Rs 62.6 crore. Effective tax rate was 25.54% compared to 25.52%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 14.23% to Rs 208.70 crore.

Sales of Pumps segment has gone up 24.63% to Rs 1,896.80 crore (accounting for 84.29% of total sales). Sales of Valves segment has gone up 16.97% to Rs 353.60 crore (accounting for 15.71% of total sales). Inter-segment sales rose Rs 2.20 crore to Rs 3.20 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 15.92% to Rs 259.90 crore. PBIT of Pumps segment rose 8.92% to Rs 214.80 crore (accounting for 82.65% of total PBIT). PBIT of Valves segment rose 67.04% to Rs 45.10 crore (accounting for 17.35% of total PBIT).
PBIT margin of Pumps segment fell from 12.96% to 11.32%. PBIT margin of Valves segment rose from 8.93% to 12.75%. Overall PBIT margin fell from 12.29% to 11.55%.

Others

Equity capital stood at Rs 34.80 crore as of 31 December 2023 to Rs 34.80 crore as of 31 December 2022. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 66.69% as of 31 December 2023 ,compared to 66.69% as of 31 December 2022 .

Cash flow from operating activities increased to Rs 141.40 crore for year ended December 2023 from Rs 38.20 crore for year ended December 2022. Cash flow used in acquiring fixed assets during the year ended December 2023 stood at Rs 93.30 crore, compared to Rs 106.90 crore during the year ended December 2022.

Quarter ended

Year ended

Particulars

202312

202212

Var.(%)

202312

202212

Var.(%)

Net Sales (including other operating income)

602.60

524.60

14.87

2,247.20

1,822.00

23.34

OPM (%)

13.43

14.64

-121 bps

13.07

13.54

-47 bps

80.90

76.80

5.34

293.60

246.70

19.01

Other Inc.

6.40

8.70

-26.44

32.30

42.20

-23.46

PBIDT

87.30

85.50

2.11

325.90

288.90

12.81

Interest

1.60

2.50

-36.00

5.30

6.10

-13.11

PBDT

85.70

83.00

3.25

320.60

282.80

13.37

Depreciation

13.7

14.17

49.7

45.3

9.71

PBT

72.00

71.00

1.41

270.9

237.5

14.06

Share of Profit/(Loss) from Associates

2.8

2.2

27.27

9.4

7.8

20.51

PBT before EO

74.8

73.2

2.19

280.3

245.3

14.27

EO Income

PBT after EO

74.8

73.2

2.19

280.3

245.3

14.27

Taxation

19.9

17.3

15.03

71.6

62.6

14.38

PAT

54.9

55.9

-1.79

208.7

182.7

14.23

Minority Interest (MI)

Net profit

54.9

55.9

-1.79

208.7

182.7

14.23

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

54.9

55.9

-1.79

208.7

182.7

14.23

EPS (Rs)*

15.77

16.06

-1.79

59.95

52.48

14.23

* 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 ended

% of (Total)

202312

202212

Var.(%)

% of (Total)

202312

202212

Var.(%)

Sales

Pumps

84.24

508.30

439.50

15.65

84.29

1,896.80

1,521.90

24.63

Valves

15.76

95.10

85.90

10.71

15.71

353.60

302.30

16.97

Others

0.00

Total Reported Sales

100.00

603.40

525.40

14.85

100.00

2,250.40

1,824.20

23.36

Less: Inter segment revenues

0.80

3.20

2.20

45.45

Net Sales

100.00

602.60

524.60

14.87

100.00

2,247.20

1,822.00

23.34

PBIT

Pumps

80.88

56.70

59.30

-4.38

82.65

214.80

197.20

8.92

Valves

19.12

13.40

9.60

39.58

17.35

45.10

27.00

67.04

Others

0.00

Total PBIT

100.00

70.10

68.90

1.74

100.00

259.90

224.20

15.92

Less : Interest

1.60

2.50

-36.00

5.30

6.10

-13.11

Add: Other un-allcoable

6.30

6.80

-7.35

25.70

27.20

-5.51

PBIT Margin(%)

Pumps

11.15

13.49

-233.78

11.32

12.96

-163.32

Valves

14.09

11.18

291.46

12.75

8.93

382.30

Others

0.00

PBT

100.00

74.80

73.20

2.19

100.00

280.30

245.30

14.27