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Earnings Call Transcript

KSB Earnings Call Transcript: Key Takeaways

KSB Ltd reported revenue of INR 12,920 million and PBT of INR 1,279 million for H1 2026. Management is targeting double-digit growth despite short-term geopolitical and supply chain headwinds impacting exports and margins.

Guidance and delivery
Management target Revenue 10.0% FY26
Highlights
Revenue growth17% CAGR in operations; targeting 10-15% volume and 15-17% value growth.
MarginsPressure on project margins due to fixed prices; aiming for 13-14% EBITDA.
Order bookINR 27,445 million as of June 2026; Nuclear OI INR 12,350M.
Demand visibilityStrong order book of INR 27,445M; nuclear vision 100GW by 2047.
Management confidenceHigh confidence in second half recovery and long-term nuclear opportunities.

Growth

Revenue CAGR at 17%; PAT CAGR at 22%; Order intake at 14% CAGR with June 2026 backlog at INR 27,445 million.

Outlook

Targeting 15-17% value growth; INR 80-120 crore annual capex for growth and sustenance; expansion into Data Centers and Marine.

Risks

Geopolitical conflicts impacting Middle East exports; supply chain issues with castings; commodity price pressure on fixed-price project margins.

Last quarter's promises, checked

Delivered

  • EBITDA Margin: Guided 13-14% → Maintained 13-14% target (= BEAT)
  • Order Backlog: Dec '25 ₹25,848M → June '26 ₹27,445M (= BEAT)

Partly delivered

  • Solar Revenue: Guided ₹300Cr+ for 2026 → Subdued performance in H1 (= PARTIAL)
  • Revenue Growth: Guided 15-20% pump growth → H1 Revenue ₹12,920M (= PARTIAL)

Missed

  • Exports: Guided 25% share → Subdued in H1 due to Middle East conflicts (= MISS)
Source

Earnings Call Transcript filed with BSE, NSE: KSB. Summary written with AI assistance from the document.

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KSB Ltd: key numbers

Share price
₹819.10
Market cap
₹14,256 Cr
Revenue (annual)
₹2,696 Cr
Net profit (annual)
₹270.5 Cr
P/E (TTM)
58.1×Sector 53.6×
Promoter holding
69.80%+0.00% QoQ
FII holding
4.10%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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