KSB Pumps Company Limited recorded earnings per share of PKR 2.97 in CY24, as compared to PKR 0.06 in CY23. The company recorded net sales of PKR 5.8 Bn, in line with PKR 5.8 Bn in CY23. During CY24, the company’s gross margin also remained stable at 20% in line with CY23.
Along with this, it saw its gross profit increase 1% from PKR 1,174 Mn in CY23 to PKR 1,182 Bn in CY24. KSBP posted profit after tax of PKR 56 Mn in CY24, compared to PKR 1 Mn in CY23. The company underwent a rights issue in CY24 in order to finance working capital and reduce debt levels. As a result, the company has substantially reduced finance costs.
Management highlighted that the business has improved in all aspects with growth in exports, local sales and margins in all divisions. It was also highlighted that the orders in hand as of Sep-2025 stood at PKR 4.1 Bn compared to PKR 3.7 Bn at Sep2024. With regards to exports, it was revealed that the company benefits from the licensing of the parent group which allows it to sell to partners in other regions as each local partner is only allowed to produce selected products by the parent company.
The company is also in the process of developing and getting approvals for more export items including castings for group companies after which it expects strong growth in export sales. In the local market, for government contracts it was highlighted that competitors import goods which takes 8-10 weeks to ship whereas the company benefits from a monthlong delivery cycle allowing it to serve customers more effectively.
Public sector spending has seen an uptick in water-based projects in Punjab and Sindh which is driving sales growth in the local market. With regards to mining, it was apprised that projects like Reko Diq may not utilize a lot of the company’s production due to the company not locally producing the required pumps.
However, they would still supply the same after importing from group companies and benefit from the enhancement of the services portfolio. Going forward, management was of the view that they will significantly grow their sales in CY26 with the gross margin to remain stable at 22% or improve further. The company is targeting a 40% sales contribution from exports in the future in order to develop a sustainable business model which is not severely impacted by slowdowns in local sales.
Important Disclosures
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