Industrial Machinery company KSB announced Q2CY23 & H1CY23 results: Sales increased by 24.8% compared to H1CY22 Q2CY23 Order Intake at Rs 6,165 million growing by 26% over Q2CY22 Export business is seeing an upward trend Zonal office in Kolkata has shifted to a new location. The new office was inaugurated on 10th July 2023 Successful Implementation of warehouse management at all the plant Commodity Prices are showing signs of stability Received FM packager certificate for firefighting pumps Significant growth in Solar business - Qualification in SECI (Solar Energy Corporation of India) tender Strong Governance score of 70 and an overall ESG score of 56, as rated by CRISIL. This score is based on information available in the public domain in 2022 before publishing Business Responsibility and Sustainability Report (BRSR) for CY22. Summarising the Q2CY23 performance, Farrokh Bhathena, Vice President of Sales and Marketing, KSB said, “KSB showcased remarkable performance and significant developments during the second quarter of 2023. We aim to maintain a strong performance in the rest of the year too, driven by a healthy Order Intake of Rs 6,165 million in Q2CY23. We remain optimistic about the demand situation as a consistent upward trend is seen in our export business, which will strengthen our position in the global market. Additionally, our Solar division has witnessed significant growth, propelling us toward a future focused on attaining sustainable solutions. We have also successfully implemented warehouse management across all our plants. These efforts will positively impact overall operational efficiency and profitability. As we move forward, KSB remains committed to excellence, sustainability, and creating lasting value for all stakeholders." Result PDF
Conference Call with KSB Ltd. Management and Institutional Investors. Watch the full transcript.