The notification read, “With reference to our earlier disclosure of Material information dated January 02, 2023 relating to temporary suspension of the plant operations of the Company. This is to inform you that plant operations will resume with essential manpower effective January 12, 2023.”
The company had temporarily suspended its plant operations at the start of last week after facing a lack of demand and import access to essential raw materials. The import restrictions, placed in May of last year after the change of government, had led to the closure of operations of many of the end customers of KSBP. These restrictions impacted the clearance of consignments of raw materials and components necessary for the company’s production operations.
The positive development caused KSBP share price to increase by 4.78% during the Wednesday trading session to close at Rs. 118.47.
The sales of the company for the third quarter ending September 2022 were Rs. 1,204 million, an increase of 35% compared to the same period last year. The company also posted a quarterly Profit After Tax (PAT) of Rs. 8.26 million, an increase of over 120% compared to the same period last year.
Company profile
KSB Pumps Company Limited (a KSB group company) was incorporated in Pakistan in 1959 and listed on the PSX in 1979. It is a subsidiary of KSB SE & Co. KGaA, a German multinational, and is principally engaged in the manufacture and sale of industrial pumps, valves, castings and related parts and after market services. The factory of the company is located at Hazara Road, Hassanabdal.
KSB Pakistan has led the pump, valve and system solutions market in the country for over six decades in addition to exporting its products to foreign markets. It specialises in six market areas, i.e. General Industry, Mining, Energy, Building Services, Petrochemicals / Chemicals and Water.
The multinational KSB Group finds its origin in Frankenthal, Germany and is a leading international supplier of pumps, valves and related systems for industrial applications, building services, process engineering, energy conversion, water treatment, water transport, solids transportation and other related applications. KSB Group has been growing continuously since its foundation in 1871, and today operates in more than 100 countries of the world with its own sales & marketing companies, manufacturing facilities and after sales service operations.
The KSB Foundry was established in 1980 and measures a capacity of Ferrous casting of 3500 Tons / annum and Non‐ferrous of 100 Tons/ annum. A Rapid Quenching Heat Treatment Furnace is also available for special grades which is capable of manufacturing sophisticated automotive component castings namely for leading automobile manufacturers including Indus Motor Company, Honda Atlas, Nissan Diesel Trucks and Perkins & Massey Ferguson Pvt. Ltd. apart from pumps & valves castings.
The single largest shareholding in the company is by its parent company M/S, KSB SE & CO, KGaA, which holds 58.89% of the shareholding. The rest of the shareholding is all free float owned by local investors, institutions, and banks.
Source: www.profit.pakistantoday.com.pk
