Buy KSB, target price Rs 2180: ICICI Direct

ICICI Direct has buy call on KSB with a target price of Rs 2180. The current market price of KSB is Rs 1784.65.
Time period given by analyst is one year when KSB Ltd. price can reach defined target.

KSB Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 6200.32 Crore) operating in Irrigation & Allied Services sector.


KSB Ltd. key Products/Revenue Segments include Pumps & Spares, Sale of services, Export Incentives and Scrap for the year ending 31-Dec-2021.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 461.80 Crore, up 8.10 % from last quarter Total Income of Rs 427.20 Crore and up 48.30 % from last year same quarter Total Income of Rs 311.40 Crore. Company reported net profit after tax of Rs 45.40 Crore in latest quarter.

Investment Rationale
KSB continues to tread on its growth path. The company has a healthy order book and received order of Rs 500 crore from NPCIL.

Promoter/FII Holdings
Promoters held 66.69 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.91 per cent, DIIs 10.93 per cent.