Buy KSB, target price Rs 1575: HDFC Securities

HDFC Securities has buy call on KSB with a target price of Rs 1575. The current market price of KSB Ltd. is Rs 1473.55.
Time period given by analyst is Intra Day when KSB price can reach defined target.

KSB Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 5131.20 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 31-03-2022, the company reported a Consolidated Total Income of Rs 427.20 Crore, down -5.65 % from last quarter Total Income of Rs 452.80 Crore and up 9.88 % from last year same quarter Total Income of Rs 388.80 Crore. Company reported net profit after tax of Rs 38.50 Crore in latest quarter.

Investment Rationale
Fresh all-time high of 1,523 with breakout from the “Flag” pattern on the weekly charts.

Promoter/FII Holdings
Promoters held 66.69 per cent stake in the company as of 31-Mar-2022, while FIIs owned 2.45 per cent, DIIs 10.97 per cent.