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- 23 Feb 2023
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STRONG OPERATIONAL PERFORMANCE IN BOTH SEGMENTS - KSB LTD LATEST QUARTERLY RESULT
KSB - 872 Change: -8.40 (-0.95 %)KSB Ltd – Q4CY22 First Cut
(CMP: Rs 1851; MCap: Rs 6443 crore)
Strong operational performance in both the segments.
Q4CY22 Earnings Summary
Revenue for the quarter came in at Rs 524.6 crore, up 18.0% YoY & 21.6% QoQ. Revenue from Pump segment increased 16.7% YoY (+25.1% QoQ) to Rs 439.5 crore. Valves segment revenue came in at Rs 85.9 crore; up 25.4% YoY & 6.7% QoQ. Total revenue for CY22 is up by 21.7% YoY to Rs 1822.1 crore as Pump and Valves segments grew by 20.6% YoY & 27.6% YoY respectively
Gross margins improved 318 bps YoY & 102 bps QoQ to 47.1% in Q4CY22. The gross margin for CY22 stands at 45.8% vs 47.1% in CY21
EBIDTA margin for the quarter stood at 12.0% vs 11% YoY & 11.7% QoQ. Thus, absolute EBIDTA increased by 36.2% YoY (+42.0% QoQ) to Rs 76.8 crore led by healthy revenue growth and improvement in margins. CY22 EBITDA margin stands at 13.5% (vs 14% in CY21) leading to EBITDA growth of 17.8% YoY to Rs 246.8 crore
EBIT margin for Pump segment improved to 13.5% in Q4CY22 vs 11.8% YoY and 11.6% QoQ. Valves segment EBIT margin also improved to 11.2% during the quarter as against 7.3% YoY and 9.7% QoQ
PAT for the quarter increased by 41.9% YoY (+43.3% QoQ) to Rs 55.9 crore. CY22 PAT is up by 22.3% YoY to Rs 182.8 crore
View: KSB has been witnessing healthy demand for its products from nuclear & petrochemical segments which led to strong growth during the quarter and full year. With healthy order book, strong clientele base and focus on building competitiveness by diversifying product portfolio, the company has strong growth prospects. KSB has also been focussed on tapping export opportunities which would provide a great fillip to the company in the coming period.
Impact: Positive