Sharekhan has maintained its buy rating on KSB Pumps in its March 05, 2009 research report.
"KSB Pumps has reported a strong top line growth of 31.4% to Rs175.4 crore for Q4CY2008. However, its margins declined on both year-on-year (y-o-y) and sequential bases on account of a change in the product mix and a greater contribution of the project business in the earlier quarters. KSB Pumps is likely to spend about Rs 200 crore over the next four years to raise its capacities. Looking at its almost debt-free status, funding of the same is not likely to be an issue, though we would try to get an update from the management regarding any changes in its capex plans. We maintain our Buy recommendation on the stock while we put the price target of the stock under review," says Sharekhan's research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click on the attachment......
