Kirloskar Brothers: Power Sector Sales Up 64%,

KIRLOSBROS Kirloskar Brothers Limited (NSE : KIRLOSBROS) is an Indian engineering company making pumps, valves, hydro turbines and fluid-management systems, serving water supply, power generation, oil and gas, marine and defence markets. Its nuclear business supplies moderator pumps, circulating water pumps, condensate extraction pumps and safety equipment to India's reactor programme. What happened: In Q2 FY27, revenue grew 24.2% year on year to Rs 1,276.7 crore. EBITDA rose 16% to Rs 143.2 crore, with margin moderating to 11.2% from 12%. PAT grew 3.5% to Rs 74.7 crore. Power-sector sales rose 64% YoY. KBL disclosed a combined order of 10 primary-circuit pumps and 57 canned-motor pumps, with estimated value of Rs 60 to 70 crore. Why it matters: The pending order book stood at Rs 2,661.8 crore as of September 2026, with power at Rs 703.1 crore or 26.4%. KBL is developing Primary Coolant Pumps for 700 MW reactors and holds ASME N and NPT certifications, making it the first Indian pump manufacturer to receive these credentials. It also received ISO 19443:2018 nuclear safety certification in November 2025. NPCIL has issued a tender for 32 PCPs. What I am watching: Whether KBL qualifies its 700 MW PCP and wins a share of the NPCIL tender. Material compliance and large-casting requirements have been cleared, but product qualification and a contract award remain ahead. Nuclear revenue is not separately disclosed. My stance: KBL closed at Rs 1,633.50 on 12 November 2026, down from its highs. Revenue growth is strong but PAT growth of only 3.5% reflects margin pressure. The nuclear opportunity is real but has not become a measurable earnings contributor yet. I do not hold a position in Kirloskar Brothers at the time of writing. This is not investment advice.