KSB Limited has announced its unaudited financial results for the quarter ended March 31, 2026, in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors approved the results at a meeting held on April 30, 2026, which commenced at 12.00 p.m. and concluded at 2.45 p.m. IST. The financial statements have been prepared in accordance with Indian Accounting Standard 34 "Interim Financial Reporting" and subjected to a limited review by statutory auditors Price Waterhouse Chartered Accountants LLP.

Standalone Financial Performance

On a standalone basis, KSB Limited reported revenue from operations of INR 6,013 million for the quarter ended March 31, 2026, compared to INR 7,840 million in the preceding quarter ended December 31, 2025, and INR 5,954 million in the corresponding quarter of the previous year. Total income stood at INR 6,156 million, while total expenses amounted to INR 5,656 million. The company recorded a profit before tax of INR 500 million and profit for the period of INR 373 million. Basic and diluted earnings per share (EPS) were reported at INR 2.14 for the quarter.

Consolidated Financial Results

The consolidated unaudited financial results include the performance of KSB Limited, its subsidiary Pofran Sales and Agency Limited, and its associate KSB MIL Controls Limited. Revenue from operations remained at INR 6,013 million, with total income of INR 6,157 million. The profit for the period on a consolidated basis was INR 398 million, with basic and diluted EPS of INR 2.28. The consolidated results incorporate the Group's share of net profit after tax of INR 32 million from the associate company for the quarter.

Segment-wise Performance

The company operates through two primary business segments: Pumps and Valves. For the quarter ended March 31, 2026, the Pumps segment generated revenue of INR 4,995 million, while the Valves segment contributed INR 1,025 million. The Pumps segment reported segment results of INR 393 million, and the Valves segment recorded INR 84 million. Total segment assets stood at INR 28,388 million, with segment liabilities of INR 11,211 million as of March 31, 2026.

Auditor Change and Board Decisions

The Board took note of the resignation of Price Waterhouse Chartered Accountants LLP, Pune (FRN: 012754N/N500016) vide letter dated April 30, 2026, and noted that no concerns were raised by the auditor. The resignation follows the management's request to appoint auditors affiliated with the intermediate holding company outside India. Based on the Audit Committee's recommendation and subject to members' approval, the Board approved the appointment of B S R & Co. LLP, Chartered Accountants (FRN: 101248W/W-100022) as Statutory Auditors to fill the casual vacancy until the ensuing General Meeting and recommended their appointment for a term of five years from the conclusion of the 66th Annual General Meeting till the conclusion of the 71st Annual General Meeting. The AGM is scheduled for May 20, 2026.

Notes and Disclosures

The company noted that during the year ended December 31, 2025, it had recognised an exceptional item of INR 255 million as "Impact of new labour codes" following the Government of India's notification of four Labour Codes consolidating 29 existing labour laws. This incremental impact, primarily related to changes in the definition of wages, was assessed based on guidance from the Institute of Chartered Accountants of India. The company continues to monitor the finalisation of Central and State rules and related clarifications issued by the Government. The results have been reviewed by the Audit Committee and approved by the Board of Directors.

KSB Limited Board of Directors accepted the resignation of M/s Price Waterhouse Chartered Accountants, LLP as statutory auditor during a meeting held on April 30, 2026. The resignation was tendered by the Pune-based firm following a management request to appoint auditors affiliated to the intermediate holding company outside India.

Auditor Transition Details

The Board noted that there were no concerns or reasons of any nature highlighted by the outgoing auditor with respect to their resignation. Price Waterhouse Chartered Accountants, LLP was initially appointed at the Annual General Meeting held on April 26, 2017, for five consecutive financial years from January 1, 2017 to December 31, 2021. The firm was subsequently re-appointed at the Annual General Meeting held on May 11, 2022, for a second term of five consecutive financial years from January 1, 2022 to December 31, 2026.

New Auditor Appointment

Based on the recommendation of the Audit Committee and subject to the approval of the members of the company, the Board approved the appointment of M/s B S R & Co. LLP as the new statutory auditor to fill the casual vacancy caused by the resignation. The appointment is subject to shareholder approval at the Ensuing Annual General Meeting scheduled to be held on May 20, 2026.

The Board has recommended the appointment of M/s B S R & Co. LLP for a term of five years to hold office from the conclusion of the 66th Annual General Meeting till the conclusion of the 71st Annual General Meeting. B S R & Co. LLP was constituted on March 27, 1990, as a partnership firm and converted into a limited liability partnership on October 14, 2013.

Firm Profile and Compliance

B S R & Co. LLP is a member entity of B S R & Affiliates, a network registered with the Institute of Chartered Accountants of India, with over 4000 staff and 170+ Partners across 14 locations. Prior to resignation, Price Waterhouse issued its audit report dated February 25, 2026, on the standalone and consolidated financial statements for the year ended December 31, 2025, and the limited review report dated April 30, 2026, on the unaudited standalone and consolidated financial results for the quarter ended March 31, 2026.

The Board Meeting commenced at 12 p.m. (IST) and concluded at 2.45 p.m. (IST). The Board and the Audit Committee placed on record their appreciation for the continuous support provided by M/s Price Waterhouse Chartered Accountants, LLP during their tenure as the Statutory Auditor of the company. The information regarding the change in auditors will be hosted on the company's website at www.ksbindia.co.in .