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Apr 24, 2009, 03.14 PM | Source: Moneycontrol.com

Hold KSB Pumps, target of Rs 292: KRChoksey

KRChoksey has recommended a hold rating on KSB Pumps with a target price of Rs 292. KSB reported net sales of Rs 134.2 crore, marginally up 2% y-o-y & declined by 23% q-o-q.

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Hold KSB Pumps, target of Rs 292: KRChoksey

KRChoksey has recommended a hold rating on KSB Pumps with a target price of Rs 292. KSB reported net sales of Rs 134.2 crore, marginally up 2% y-o-y & declined by 23% q-o-q.

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, KRChoksey |

KRChoksey has recommended a hold rating on KSB Pumps with a target price of Rs 292 in its April 23, 2009 research report.

"KSB reported net sales of Rs 134.2 crore, marginally up 2% y-o-y & declined by 23% q-o-q. Operating Profits stood at Rs 22.5 crore, increased by 6% y-o-y and OPM improved by 68 bps on the back of growth in the pumps business by 6% y-o-y. Net profit reported was Rs 13.5 crore, improved by 5% y-o-y and profit margins expanded by 33 bps y-o-y to 10.1% on account of higher interest and depreciation cost due to heavy capex exercised by the company during this year. We recommend a Hold on the stock with target price of Rs 292, giving an upside of 12%," says KRChoksey'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. 

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To read the full report click here

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