KSB advanced 1.85% to Rs 3,686.05 after it received letter of award (LoA) of Rs 63.22 crore from Maharashtra Energy Development Agency (MEDA) under Component B of PM-Kusum III scheme.
The scope of work includes design, manufacture, supply, transport, installation, testing & commissioning of 2,500 off-grid solar photovoltaic water pumping system (SPWPS).The supply of products/ services for the order is expected from second quarter of 2024. The cost of the project is Rs 63.22 crore.
KSB (formerly known as KSB Pumps), is the manufacturer and seller of pumps, spares and valves in India. The company was established in 1960 and is presently engaged in manufacture of power driven pumps and industrial valves, cast articles of iron or steel.
The company reported 1.80% fall in consolidated net profit to Rs 54.90 crore despite of 14.9% growth in revenue from operations to Rs 602.60 crore in Q3 FY24 over Q3 FY23.
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