KSB Limited net profit for Q2 jumps 263% yoy to Rs 28.3 cr

MUMBAI, India, Aug. 6, 2021 /PRNewswire/ --

• The sales value of INR 3,030 million with 38% increase over the previous year same quarter and the Sales value for 1^st Half year of INR 6,846 million with 44% increase over the previous year 1^st half year.
• Achieved 13% ROS for the quarter
• Orders on hand for about 8,000+ Million INR  

(All amounts in INR million)

Commenting on the quarterly results Mr. Rajeev Jain, Regional Executive Officer, Region West Asia and Managing Director, KSB Limited said, "This quarter, we delivered higher revenue and operating EBIT w.r.t the same quarter of FY 2020. Overall good Sales revenue from all plants was achieved and we could achieve this growth owing to our well-planned strategy, adaptability, and customer centric approach. Also, we have been monitoring and controlling the operating cost as well as failure cost while maintaining the production level at the maximum optimum capacity.

We are hoping that the company continues to perform in this manner which will enable us to achieve minimum double-digit growth over last year."

Major Highlights

• Order for BB3 pump received from ONGC.
• Good orders for Pumps used for Flue Gas Desulphurisation application.
• Ground breaking ceremony for Sinnar (WPD) plant expansion.
• Substantial growth in Agri (Submersible) and Domestic business compared to previous year.
• Supply of big diameter High Pressure SICCA valves (Gate 32" #2500 WC6, Gate 28" #2500 WC6, Gate 24" #2500 WC6) for MAPA project to Chile.
• 1^st dosage of Vaccination completed for majority of employees.
• Operations in KSB were not much affected in Q1 & Q2 of 2021.
• The addition of a Service Station in our existing portfolio at Baddi, Himachal Pradesh signifies the company's effort to be in close proximity with our customers.

Mr. Milind Khadilkar, Director Finance and Digital Transformation, asserted, "While fighting through the pandemic situation, we are strengthening the ESG (Environment, Social, and Governance) initiatives to ensure long term sustainability.

Among the other ongoing several ESG measures, currently the Company is actively working on reduction in carbon emission, obtaining Green factories and offices Certifications, etc."

On the in-house technology front, Mr. Milind highlights, "The Company's newly established 'Digital Transformation Cell (DTC) is diligently undertaking digitalization activities under one roof from concept to realization. DTC is helping in implementation of organizational digital strategy and generating innovative digital solutions for products and process to achieve business process optimization."

Also, Mr. Shirish Kulkarni, Director Human Resource, KSB Limited added, "We have been adhering to the Covid19 protocol and have been operating at the optimum capacity while undertaking all measures for safeguarding our employees.

Nation-wide outbreak of Covid19 has disrupted daily lives and businesses. Many of our employees were affected due to Covid19 and the company has also suffered a loss of a few as the second wave of Covid19 struck. The company has introduced policies to support families of the deceased employees. These policies cover payment of the deceased employee's 12 months last drawn salary to spouse/family, scholarship towards the deceased employee's children's education up till graduation for maximum limit depending on the grade/class of education per child per year. (Max. 2 children), extension of medical insurance for 3 years for the dependents (spouse and 2 unmarried children), reimbursement of 50% Covid19 treatment hospitalisation bills up to INR 2 lakhs, and all other statutory benefits will be paid as per the laws/company scheme."

About KSB Limited

KSB Limited, founded in 1960 in India, is a part of KSB SE & Co KGaA. - one of the world's leading suppliers of pumps, valves, and systems. Combining innovative technology and excellent service to provide intelligent solutions, the company has been offering innovative and sturdy solutions to cater to the myriad needs of the Indian Customer, be it in power, oil, building services, process engineering, water treatment, water transport, etc. The activities of KSB's in-house research centre focus on the areas of hydraulics, sealing technology, materials, production technology, and automation.

Today the KSB group has a presence on all the continents with its own sales and marketing companies, manufacturing facilities, and service operations. More than 15,000 employees generate annual consolidated sales revenue of over Two billion Euros.