Rs 6,165 million order book: This multibagger engineering company received order worth Rs 27.78 crore from Department of Agriculture, Uttar Pradesh!
The stock gave multibagger returns of 150 per cent in 2 years and over 500 per cent in 3 years.
KSB Limited has received a letter of award under the PM-Kusum III Scheme under Component B of Rs 27.78 Crores for 800 solar water pumping systems from the Department of Agriculture, Uttar Pradesh. The sales/ supply of products/ services for these orders is expected from Q4 of FY2023*.
(* The company follows a calendar year accounting period is a 12-month accounting period that follows the Gregorian calendar, beginning on January 1 and ending on December 31).
Additionally, KSB Limited has received orders of around Rs 55 crore from Nuclear Power Corporation of India Limited (NPCIL) for the supply of vertical safety class pumps for their GHAVP 1&2 Project. The sales/ supply of products/ services for these orders is expected in FY 2026.
KSB Limited manufactures power-driven pumps and industrial valves. The Company produces and distributes a range of control valves, desuperheaters, actuators, and spare parts. KSB serves energy, oil and gas, water, and construction industries in India. The company's export business is seeing an upward trend and Significant growth in the Solar business - Qualification in SECI (Solar Energy Corporation of India) tender
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The company has a market cap of over Rs 10,000 crore and reported amazing numbers in its Quarterly Results and annual results. The company has delivered good profit growth of 20.6 per cent CAGR over the last 5 years and has been maintaining a healthy dividend payout of 29.8 per cent. As of Q2 order intake is at Rs 6,165 million growing by 26 per cent over Q2 2022.
On Thursday, shares of KSB Ltd surged 0.67 per cent to Rs 2,951.15 per share with an intraday high of Rs 3,045 and an intraday low of Rs 2,935. The shares of the company saw a spurt in volume by more than 2.31 times on BSE.
The stock gave multibagger returns of 150 per cent in 2 years and over 500 per cent in 3 years. Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.