Kirloskar Brothers Wins Rs 214 Cr Adani Order; Stock Down 1%

Shares of Kirloskar Brothers Ltd fell 1% after touching a day’s high of Rs 1,609.80 on 27th February, even as the company said it has secured an order worth Rs 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 27th February, the company said Adani Power and its subsidiaries — Anuppur Thermal Energy (MP) Pvt. Ltd. and Korba Power Limited — awarded the contract for the supply, erection, testing and commissioning of circulating water pumps. In addition, the contract included auxiliary cooling water pumps and related electrical and control systems.

The pump systems will be used in thermal power projects across Madhya Pradesh, Assam, Chhattisgarh and Bihar. The order is to be executed within 18–24 months, with payments linked to delivery and commissioning milestones. The project also carries a 12-month defect liability period from commissioning.

For the December quarter, Kirloskar Brothers reported a 44.5% rise in net profit to Rs 118.5 crore. Meanwhile, revenue grew 18.6% to Rs 1,144.2 crore. EBITDA rose 34.3% to Rs 166 crore, with margin improving to 14.5% from 12.8% a year ago.

At 12:31 PM, shares of Kirloskar Brothers were trading 0.94% lower at Rs 1,578.50 on the NSE.

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