KSB

Ksb share price & financials

Price
₹903.6
Market cap
₹13.9k Cr
Sector
Capital Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 19 Aug 2026

Ksb Limited Q1 FY27

EBITDA ₹146.5 cr

What went well

  • H1 CY26 Revenue from sales of INR 1,292 crores.
  • H1 CY26 EBITDA of INR 146.5 crores.
  • H1 CY26 Profit Before Tax of INR 127.9 crores.

What to watch

  • H1 CY26 performance was subdued due to geopolitical situation and supply chain issues affecting exports, leading to some order cancellations.
  • Delay in KUSUM 2.0 scheme impacted H1 solar revenue, which was INR 50-60 crores, below expectations.
Read the full call →

What Ksb Limited does

KSB Limited manufactures pumps, valves and related rotating equipment used in the energy, water, general industry, petrochemicals/chemicals, mining and building-services sectors, and is part of Germany's KSB Group (KSB SE & Co. KGaA). It operates manufacturing divisions for industrial pumps, energy pumps, standard/water pumps, valves and a captive foundry for casting, spread across plants in and around Pune, Nashik and Coimbatore, plus a subsidiary, KSB MIL Controls, that makes control valves at Kochi. Beyond selling new equipment to customers such as power generation companies, municipal water utilities and process industries, it earns recurring revenue from lifecycle support -- installation, spare parts and maintenance -- through its SupremeServ aftermarket business. Products reach customers through a nationwide network of authorised dealers, service centres and warehouses, alongside exports to overseas markets including other KSB group companies.

Segments

  • Standard Pump
  • Engineered Pumps
  • Valves
  • SupremeServ
Manufacturing plants (KSB Limited)
6
Manufacturing plants (subsidiary KSB MIL Controls, Kochi)
1
Authorised dealers
800+
Authorised service centres
350+
Warehouses
22
Branch offices
14
Founded 1960Headquarters Pimpri, Pune, Maharashtra, India Company website

Guidance record · Q1 FY27

what the last two calls moved 24 tracked 1 delivered 5 missed 18 open
  • Solar Business Revenue (FY24) delivered said Q1 FY25 Promised: ₹150 crores in FY 2024 Q1 FY27: Not addressed; this is a historical target for a completed period.
  • Nuclear Revenue Recognition delayed said Q1 FY25 Promised: ₹100 crores of revenue in H1 2025 (revised from FY 2024) Q1 FY27: Testing started in April/May but was halted due to issues with NPCIL's test bed. Testing is now expected to restart in September, pushing out revenue recognition further.
  • Value Growth (CY26) open said Q1 FY27 Promised: 15% value growth for the full year Q1 FY27: Management guided: 'And in terms of value, maybe 15% would be a reasonably good figure.'

All 24 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 3.6%, net profit down 18.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue616 726 595 667 650 +6%784 +8%601 +1%691 +4%
EBITDA88 98 68 91 85 −3%130 +33%51 −25%82 −10%
Net profit62 73 52 70 68 +10%81 +11%40 −23%57 −19%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −1.4% 1Y

₹0.7k₹0.8k₹0.9k₹1.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025Q3 FY26 — 17 Mar 2026Q1 FY27 — 19 Aug 2026

1Y: ₹815.6 on 10 Sept 2025 → ₹804.2. High ₹1,000.05 (27 Apr 2026), low ₹680 (27 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
+1.6%
19 Aug
Q3 FY26
+1.1%
17 Mar
Q2 FY26
−0.7%
17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 9.5% a year over 2 years, FY23 to FY25. Operating margin widened to 13.9%.

Year endingFY23FY24FY25
Revenue₹2.2k Cr₹2.5k Cr₹2.7k Cr
Operating profit₹293 Cr₹338 Cr₹374 Cr
Operating margin13.0%13.3%13.9%
Interest₹6 Cr₹3 Cr₹4 Cr
Depreciation₹50 Cr₹54 Cr₹59 Cr
Net profit₹209 Cr₹248 Cr₹271 Cr
Net margin9.3%9.8%10.1%
Cash from operations₹142 Cr₹187 Cr₹93 Cr
Free cash flow₹49 Cr₹88 Cr₹0 Cr
ROCE23.0%24.0%25.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹35 Cr₹35 Cr₹35 Cr₹35 Cr₹35 Cr₹35 Cr
Reserves₹976 Cr₹1.1k Cr₹1.3k Cr₹1.5k Cr₹1.6k Cr₹1.7k Cr
Borrowings₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹5 Cr₹6 Cr
Other liabilities₹596 Cr₹679 Cr₹761 Cr₹859 Cr₹1.1k Cr₹1.1k Cr
Total liabilities₹1.6k Cr₹1.8k Cr₹2.1k Cr₹2.3k Cr₹2.8k Cr₹2.8k Cr
Fixed assets₹311 Cr₹350 Cr₹419 Cr₹438 Cr₹462 Cr₹459 Cr
Capital work in progress₹39 Cr₹25 Cr₹32 Cr₹55 Cr₹92 Cr₹102 Cr
Investments₹70 Cr₹74 Cr₹80 Cr₹88 Cr₹97 Cr₹96 Cr
Other assets₹1.2k Cr₹1.4k Cr₹1.5k Cr₹1.8k Cr₹2.1k Cr₹2.2k Cr
Total assets₹1.6k Cr₹1.8k Cr₹2.1k Cr₹2.3k Cr₹2.8k Cr₹2.8k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −0.58 pp while DIIs added +0.38 pp. The shareholder count shrank 5% to 51,832.

Promoters
69.8%
FIIs
4.1%
DIIs
11.8%
Government
0.0%
Public
14.3%

Since Jun 2025

  • FIIs −0.58 pp
  • DIIs +0.38 pp
  • Public +0.19 pp

How it drifted, 12 quarters

Over this window the public fell from 18.9% to 14.3% — −4.6 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 66.7%, FIIs 3.5%, DIIs 10.9%, Public 18.9%.Dec '23: Promoters 66.7%, FIIs 4.5%, DIIs 10.1%, Public 18.7%.Mar '24: Promoters 66.7%, FIIs 5.2%, DIIs 10.0%, Public 18.1%.Jun '24: Promoters 69.8%, FIIs 5.4%, DIIs 10.1%, Public 14.7%.Sep '24: Promoters 69.8%, FIIs 5.3%, DIIs 10.2%, Public 14.6%.Dec '24: Promoters 69.8%, FIIs 5.3%, DIIs 10.6%, Public 14.3%.Mar '25: Promoters 69.8%, FIIs 4.9%, DIIs 11.1%, Government 0.0%, Public 14.3%.Jun '25: Promoters 69.8%, FIIs 4.7%, DIIs 11.4%, Government 0.0%, Public 14.1%.Sep '25: Promoters 69.8%, FIIs 4.6%, DIIs 11.6%, Government 0.0%, Public 14.1%.Dec '25: Promoters 69.8%, FIIs 4.5%, DIIs 11.9%, Government 0.0%, Public 13.8%.Mar '26: Promoters 69.8%, FIIs 4.7%, DIIs 11.6%, Government 0.0%, Public 13.9%.Jun '26: Promoters 69.8%, FIIs 4.1%, DIIs 11.8%, Government 0.0%, Public 14.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 3 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Ksb Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Canadian Kay Pump Limited 40.54%unchanged
Industrial And Prudential Investment Company Ltd 21.55%unchanged
Paharpur Cooling Towers Limited 4.17%unchanged
Tkil Industries Private Limited 3.10%unchanged
ICICI Prudential Infrastructure Fund Mutual fund1.69%−1.20 pp
Nippon Life India Trustee Ltd-A/C Nippon India ELSS Tax Saver Fund Mutual fund1.52%unchanged
Tata Mutual Fund- Tata Small Cap Fund Mutual fund1.43%−0.15 pp
Bajaj Life Insurance Limited Insurer1.40%−0.08 pp
Vikram Swarup-Trustee of Swarup Family Trust 0.17%unchanged
Vikram Swarup - 2 0.11%newly disclosed
Gaurav Swarup 0.10%unchanged
Bindu Vikram Swarup 0.05%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in KSB

Filings to Aug 2026

0 new, 1 added, 0 trimmed, 0 sold out — net +2.56 L shares (+9.2%).

Held by funds
₹249 Cr
2 schemes
Biggest holder
Nippon India ELSS Tax Saver Fund
₹214 Cr · 1.4% of that fund
SchemeHoldingLast month
Nippon India ELSS Tax Saver Fund Nippon India Mutual Fund₹214 Crheld
HDFC Business Cycle Fund HDFC Mutual Fund₹35 Cr+2.56 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

1 added, 0 trimmed — net +2.56 L shares (+9.2%)

Funds are sitting on
+251%
vs est. average cost
Held by funds
₹249 Cr
2 schemes · ≈ 2.0% of the company
Biggest holder
Nippon India ELSS Tax Saver Fund
₹214 Cr · 1.4% of that fund

Shares held by these funds −32%

Aug '23 30.56 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹804, this stock must grow earnings at 35% every year for 7 years. Our analysis caps realistic growth at ~12%. At that growth it is worth ₹259 — downside of 68%.

Growth the price implies
34.7% a year
for 7 years, fading to 4%
It has actually compounded at
12.3% a year
net profit, FY23–FY26 · EPS 12.2%
The gap
0.2 pp
-68% downside if it only repeats history
Price today ₹804.2 Value at the reference growth ₹259.11

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Ksb Limited

Guides on how to read this kind of business and the numbers that matter.