KSB Limited registers outstanding sales revenue of INR 2247 Crores for the year 2023 - PNN Digital

KSB Limited registers outstanding sales revenue of INR 2247 Crores for the year 2023

Business News City/ state

Pune (Maharashtra) [India], March 8: The sales revenue of 2023 is registered as INR 2247 crores which is a 23.3% increase over the previous year • The sales revenue of quarter four recorded 14.9% growth, compared to same period last year, closing the quarter with sales revenue of INR 602.6 crores • Received Valves – Export order of INR 17.5 crores • Received 1st breakthrough order for reciprocating pumps • Received order worth INR 17 crores for FGD (Flue Gas Desulfurization) • Received export orders worth INR 15.5 crores in Energy segment • Received first order of FM package firefighting pumpsets and of indigenized KRT pumps • Received LOE from MSEDCL for Solar Pumping System under PM-KUSUM Scheme in Maharashtra and successfully installed first 43 no’s of Solar System in PM-KUSUM Scheme in Haryana state.

Business Highlights

                                                                                                   (All amounts in INR      Crores)

Particulars Q4 – 2023 Q4 – 2022 Jan’23-Dec’23 Jan’22-Dec’22
(Oct’23-Dec’23) (Oct’22 -Dec’22)
Sales 602.6 524.6 2247.2 1822.0
Expenses 521.7 447.8 1953.6 1575.3
Operating Profit 80.9 76.8 293.6 246.7
OPM % 13.4% 14.6% 13.1% 13.5%
Other Income 6.5 8.7 36.3 45.4
Interest 1.6 2.5 5.3 6.1
Depreciation 13.7 12.0 49.7 45.3
PBT 72.1 71.0 274.9 240.7
Net Profit 52.8 54.2 204.6 179.3
.

Summarizing on the business highlights, Mr. Prashant Kumar, Vice President of Sales and Marketing, KSB Limited said, “This year we have registered an exceptional sales revenue with 23.3% YoY growth. We have also observed an increase in order inflow from all segments, including Energy, Solar, Valves, General Industry, Water & Wastewater, and Building Services, and with our success driven approach, we are ready to penetrate deeper in all our segments in the upcoming year. Continuing our upward trend in export business, we are maintaining a consistent and growing global presence. In the foreseeable future, we are also optimistic of exploring progressive business opportunities in the defence sector.”

Mr. Mahesh Bhave, Chief Financial Officer, said that the Company, has delivered a good performance despite continued market uncertainties. With a 23.3% increase in sales revenue, the Company could achieve 20.00% growth in total comprehensive income amounting to INR 207 crores. These results are a testament to the dedication and agility of our team, who successfully navigated the headwinds. And we are pleased to give a good return on healthy profit achieved for the year FY 2023, to our shareholders by declaring a dividend of INR 17.5 per share (175%).

Mr. Bhave also apprised with further ESG updates. He highlighted that the Company has entered into partnership with Sunsure Energy, which will support to achieve our sustainability goals by offsetting a major chunk of our overall CO₂ emissions demonstrating our commitment to ensuring a cleaner and healthier future. 70-75% of our power consumption will be green power after this project is implemented. It will enable the Company to source clean energy to offset around 221 million kgs of CO₂ over the next 25 years, which is equivalent to planting 3.5 Lakh trees. For social commitment the Company has employed specially-abled personnel and we are also extensively working on enhancing Gender Diversity.

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