KSB Ltd. (KSB) AI Stock Analysis

• Market Cap: ₹130.74B
• Dividend Yield: 0.51%
• Average Volume (3M): 2.72K
• Price to Earnings (P/E): 48.6
• Beta (1Y): 0.46
• Revenue Growth: 9.50%
• EPS Growth: 14.52%
• Country: IN
• Employees: 2,380
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 29.70
• Shares Outstanding: 174,039,220
• 10 Day Avg. Volume: 2,466
• 30 Day Avg. Volume: 2,718
• PEG Ratio: -0.49
• Price to Book (P/B): 7.83
• Price to Sales (P/S): 4.87
• P/FCF Ratio: 439.39
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 18.4
• Revenue Forecast (FY): ₹31.26B

• Rating: 62 Neutral
• Price Target: ₹830.00 ▲(10.32% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is driven by a strong low-debt balance sheet but moderated by weaker 2025 performance and volatile cash flow. Technicals are supportive (uptrend with positive momentum), while valuation is a key constraint due to the high P/E and low yield.

Positive Factors

Conservative balance sheet

Very low leverage and near-zero debt in 2025 provide durable financial flexibility. This reduces refinancing and liquidity risk, supports competitive bidding on large projects, and allows the company to fund working-capital swings or opportunistic investments without stressing covenants or credit capacity over the next several quarters.

Diversified end markets & aftermarket

Serving multiple industrial and infrastructure segments and generating aftermarket revenues creates more stable, recurring cash streams. Lifecycle service, spares and maintenance demand tends to be less cyclical than new equipment sales, providing structural revenue support and higher customer stickiness over coming months.

Multi-year recovery trend

Sustained revenue and EPS growth across several years (recovery from a 2020 loss into stronger 2021–2024 results) indicates operational resilience and the ability to scale engineered product and project execution. This trend supports medium-term earnings potential assuming underlying demand normalizes.

Negative Factors

Volatile cash generation

Material swings in operating cash flow and free cash flow, with a marked deterioration in 2025, suggest working-capital sensitivity and possible timing of project receipts. That volatility raises uncertainty about the firm's capacity to fund capex, service growth projects, or sustain shareholder returns without drawing on balance-sheet buffers.

2025 revenue & profit decline

A sharp deterioration in 2025 top-line and profitability undermines confidence in near-term demand durability. If driven by lower order intake, project delays or one-offs, it can persist into the next reporting periods, pressure operating leverage, and complicate recovery of margins and cash conversion over the coming 2–6 months.

Margin volatility

Inconsistent margins over multiple years suggest sensitivity to project mix, pricing, or input costs. Margin unpredictability weakens forecast reliability for operating profit and returns, complicates long-term planning and capital allocation decisions, and increases execution risk for sustaining profitable growth.

KSB Ltd. Business Overview & Revenue Model

Company Description

KSB Limited manufactures and sells power driven pumps and industrial valves in India and internationally. It operates through Pumps and Valves segments. The Pumps segment manufactures and trades in industrial pumps, submersible pumps, effluent treatment pumps, etc.; and offers related spares and services. The Valves segment manufactures and trades in industrial valves, and related spares and services. It also produces castings for captive consumption. The company was formerly known as KSB Pumps Limited and changed its name to KSB Limited in June 2018. KSB Limited was incorporated in 1960 and is headquartered in Pune, India.

How the Company Makes Money

KSB Ltd. makes money primarily through the sale of its pumps and valves, which are essential components in various industrial and commercial systems. The company generates revenue by providing customized solutions and services, including installation, maintenance, and repair. KSB also benefits from strategic partnerships and long-term contracts with key players in industries such as energy and water management. Additionally, the company invests in research and development to innovate and enhance its product offerings, which helps maintain a competitive edge and attract new business opportunities.

KSB Ltd. Financial Statement Overview

Summary

Strong, conservative balance sheet (very low leverage) supports stability, but operating performance is mixed: profitability improved through 2024 yet 2025 shows a sharp slowdown, and cash flow is volatile with weak cash conversion in 2025.

Income Statement

The company shows a solid multi-year recovery from the 2020 loss to strong profitability in 2021–2024, with generally positive revenue growth across those years. However, 2025 annual results show a sharp revenue decline and notably weaker profit levels versus prior years, raising questions around earnings durability and near-term demand/one-offs. Margins appear volatile across the period, which reduces confidence in consistency.

Balance Sheet

Balance sheet leverage looks very conservative, with debt-to-equity staying low across the period and dropping to near-zero in 2025, which provides financial flexibility. Returns on equity are generally healthy (positive in most years), though they have fluctuated and turned negative in 2020. Overall, the company appears well-capitalized with limited balance-sheet risk.

Cash Flow

Cash generation is uneven. Free cash flow was strong in 2020–2021 and rebounded in 2023–2024, but 2022 posted deeply negative free cash flow and 2025 shows a steep drop in both operating cash flow and free cash flow versus net income (cash conversion weak in 2025). This volatility suggests working-capital swings and/or elevated investment needs, creating higher uncertainty around cash support for growth and shareholder returns.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	255.28M	285.76M	244.59M	205.74M	176.57M
Gross Profit	77.35M	1.61B	8.69B	7.42B	1.38B
EBITDA	35.37M	349.10M	319.70M	264.07M	230.39M
Net Income	25.62M	118.10M	152.29M	103.65M	93.65M
Balance Sheet
Total Assets	264.46M	2.87B	2.67B	2.48B	2.31B
Cash, Cash Equivalents and Short-Term Investments	26.84M	369.30M	29.80M	17.89M	28.32M
Total Debt	492.44K	58.30M	54.60M	50.46M	78.67M
Total Liabilities	105.48M	1.53B	1.45B	1.35B	1.45B
Stockholders Equity	158.98M	1.09B	1.00B	915.92M	674.75M
Cash Flow
Free Cash Flow	2.83M	133.60M	173.80M	-100.28M	89.94M
Operating Cash Flow	11.70M	268.60M	280.30M	2.11M	163.92M
Investing Cash Flow	1.68M	-153.70M	45.32M	-89.04M	28.26M
Financing Cash Flow	-6.72M	-88.80M	-585.19M	-75.84M	-954.21M

KSB Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 752.35
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KSB, the sentiment is Neutral. The current price of 752.35 is above the 20-day moving average (MA) of 726.49, above the 50-day MA of 730.94, and below the 200-day MA of 789.84, indicating a neutral trend. The MACD of 6.64 indicates Negative momentum. The RSI at 52.26 is Neutral, neither overbought nor oversold. The STOCH value of 54.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:KSB.

KSB Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ELECON	73 Outperform	₹89.80B	37.50	―	0.41%	20.94%	45.63%
TRITURBINE	69 Neutral	₹152.62B	46.44	―	0.75%	3.49%	8.54%
ELGIEQUIP	66 Neutral	₹164.22B	39.31	―	0.47%	9.46%	18.97%
INGERRAND	66 Neutral	₹119.96B	38.39	―	2.34%	5.68%	9.74%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
KSB	62 Neutral	₹130.74B	48.57	―	0.51%	9.50%	14.52%
KIRLPNU	60 Neutral	₹73.79B	40.77	―	0.97%	6.51%	-1.61%

KSB Ltd. Corporate Events

KSB Ltd. to Close Trading Window Ahead of FY2025 Results

KSB Ltd. has announced that its trading window for dealings in the company’s securities will be closed for directors, officers, designated and connected persons from 1 January 2026 until 48 hours after the declaration of its financial results for the quarter and year ended 31 December 2025. The company added that the date of the board meeting to consider and approve these results will be communicated in due course, signaling routine compliance with SEBI’s Prohibition of Insider Trading Regulations and temporarily restricting insider trading activity ahead of the earnings announcement.