Net sales for the quarter ended Sep'15 of the company stood at Rs 185.78 crore, down by 7% on YoY basis. OPM however was higher by 210 bps to 15.7%, thus resulted in an OP of Rs 29.14 crore up by 8% YoY. Other income stood at Rs 4.33 crore, down by 46%. With interest costs being down by 82% to Rs 0.23 crore and depreciation up by 6% to Rs 7.33 crore, PBT stood at Rs 25.91 crore, down by 4%. With flat total tax of Rs 9.06 crore, PAT for the quarter ended Sep'15 stood at Rs 16.85 crore, down by 6%.
Net sales from Pump segment, which constitute about 78% of total sales, de-grew by 7% to Rs 153.17 crore. Net sales from Valves segment which constitute about 15% of total sales, de-grew by 7% to Rs 30.32 crore. PBIT for Pump segment for Sep'15 quarter de grew by 6% to Rs 22.83 crore on YoY basis. PBIT margin for the segment stood at 14.9% as compared to 14.7% for Sep'14 quarter. PBIT level for Valve segment stood at Rs 1.98 crore as compared to loss at PBIT level of Rs 1.28 crore for the Sep'14 quarter. PBIT margin for Valve segment for Sep'15 quarter stood at 6.5%.
Performance for the 9 months ended Sep 2015
Net sales for the 9 months ended Sep'15 of the company stood at Rs 575.16 crore, up by 1% on YoY basis. OPM however was lower by 330 bps to 11%, thus resulted in an OP of Rs 63.14 crore down by 23% YoY. Other income stood at Rs 25.59 crore, up by 16%. With interest costs being lower by 7% to Rs 1.62 crore and depreciation up by 4% to Rs 21.23 crore, PBT stood at Rs 65.88 crore, down by 19%. Total tax being down by 21% to Rs 20.40 crore, thus PAT for the 9 months ended Sep'15 stood at Rs 45.48 crore, down by 18%.
Net sales from Pump segment, which constitute about 77% of total sales, de-grew by 2% to Rs 470.86 crore. Net sales from Valves segment which constitute about 16% of total sales, grew by 17% to Rs 99.08 crore. PBIT for Pump segment for 9 months ended Sep'15 de grew by 29% to Rs 51.58 crore on YoY basis. PBIT margin for the segment stood at 11% as compared to 15.1%. PBIT level for Valve segment stood at Rs 3.71 crore as compared to loss of Rs 3.60 crore for the 9 months ended Sep'15 PBIT margin for Valve segment stood at 3.7%.
Proposed Expansion update:
KSB Pumps Ltd has informed BSE that the Company has plans to expand its operations in next few years by setting up new plant preferably near its existing location and is in the process of finalizing specific location and land for this purpose. The Company plans to undertake construction of the plant in a phased manner over next 5 years to achieve the required capacity. The commencement of commercial production is planned in a phased manner from year 2017 onwards. The Capital expenditure to be incurred over the phased expansion is estimated to be around Rs.250 Crores partly from internal generation and balance from borrowings.
The Proposed new facility will be utilized for Manufacturing of High End Engineered pumps for Super Critical Thermal Power Plants.
These products will be manufactured by the Company as a part of "Make in India" initiative under a technology transfer and license agreement with KSB AG, Germany.