Kirloskar Brothers bags ₹214 crore order for thermal power pumps from Adani Power

Kirloskar Brothers Limited has secured an order worth ₹214 crore from Adani Power Limited and its subsidiaries for the supply of circulating water pumps for thermal power projects.In an exchange filing on Friday, February 27, the company said that Adani Power and its subsidiaries, Anuppur Thermal Energy (MP) Pvt. Ltd. and Korba Power Limited, have awarded a contract for the supply, erection, testing and commissioning of circulating water pumps using concrete volute pump technology, along with auxiliary cooling water pumps and associated electrical and control systems.

Kirloskar Brothers said the pump packages will be deployed across thermal power projects located in Madhya Pradesh, Assam, Chhattisgarh and Bihar.
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The contract is scheduled to be executed within 18 to 24 months of the purchase order date. Payment will be made in phases, with 30 days from receipt of goods at the delivery point and the balance upon erection, commissioning and testing. The project carries a defect liability period of 12 months from the date of commissioning.For the December quarter, Kirloskar Brothers reported a 44.5% rise in its net profit to ₹118.5 crore from ₹82 crore in the previous year. Its revenue was up 18.6% at ₹1,144.2 crore from ₹965 crore in the third quarter of the previous fiscal. Its earnings before interest, tax, depreciation and amortisation (EBITDA) increased 34.3% to ₹166 crore from ₹123.6 crore in the previous year. The EBITDA margin expanded to 14.5% from 12.8% in year-ago period.

Shares of the company were trading 0.62% higher as of 12.03 pm at ₹1,583.90. The stock has declined 20.46% in the last six months.

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