KSB Limited, a company, has reported impressive financial performance in the third quarter of 2023 (July to September). Here are the key highlights:
- Sales Growth: KSB achieved significant sales growth, with a sales value of INR 5,637 million for the quarter, representing a remarkable 31% increase compared to the same period in the previous year. This indicates a strong demand for their products and services.
- Cumulative Sales Increase: Over the first three quarters of 2023, KSB reported a total sales value of INR 16,446 million. This represents a substantial 27% increase over the same period in the previous year, underscoring their sustained growth.
- Divisional Achievements: Several divisions within the company made notable achievements. The CBE Valves division recorded its highest-ever Order Intake Year-to-Date (YTD) in 2023, amounting to 3,173 million INR. The Nuclear Business secured an order worth INR 551 million for Auxiliary pumps from the Nuclear Power Corp. of India.
- Government Orders: KSB received Letters of Acceptance (order acceptances) of 278 million INR and 12 million INR from the governments of Uttar Pradesh (UP) and Haryana, respectively, under the PM-KUSUM scheme. These orders are significant for the company.
- Export Business: The Export Business also performed well, securing an export order of INR 205 million from Tecnimont SPA in Italy and an INR 149 million order from Kinetics Technology SpA in Greece. These orders are related to LPG extraction and oil refinery projects.
- Defense Sector Orders: KSB received breakthrough orders in the defense segment. BBM Acoustic India Pvt. Ltd. placed an order worth 28.5 million INR (ship), and the Ministry of Defense (MoD), Indian Navy, Indigenization Unit, issued an order worth 6.1 million INR (submarine). These orders strengthen KSB’s presence in the defense sector.
- Financial Summary: Here is a summary of the financial performance for Q3 2023 compared to the same period in the previous year:
- Sales: INR 5,637 million (2023) vs. INR 4,313 million (2022)
- Operating Profit: INR 703 million (2023) vs. INR 541 million (2022)
- Net Profit: INR 481 million (2023) vs. INR 378 million (2022)
- Operating Profit Margin (OPM): 12% (2023) vs. 13% (2022)
- Company Perspective: Mr. Farrokh Bhathena, Vice President of Sales and Marketing at KSB Limited, expressed their optimism regarding the demand situation. They highlighted the upward trend in their export business, which is strengthening their position in the global market. KSB also mentioned their focus on sustainability and efficiency improvements, with the successful implementation of e-sales tools across their facilities to enhance operational efficiency and profitability.
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