Kirloskar Brothers Ltd Results Summary

Kirloskar Brothers Limited KBL a part of the century old Kirloskar group was incorporated in 15th January of the year 1920. An ISO 9001:2000 certified company manufactures a wide range of pumps valves anticorrosion products hydel turbines and other products. It undertakes projects in fluidhandling turnkey fluidhandling projects in irrigation power process water supply and sewerage turnkey small hydel projects and protective surface coating. With seven international offices already established the company continues to be the largest exporter of pumps from India with products being routed to over 70 countries across five continents. Two new joint venture companies were incorporated viz. Kirloskar Rateau Ltd. a 100 export oriented unit in India and Rateau Kirloskar international Paris as a marketing company in cooperation with Alsthom Atlantique of Paris. Hence it became a subsidiary of the Company since its incorporation on 23rd April of the year 1984. During the year 1986 the company had entered into foreign collaboration agreements with M/s. Oil Tool Specialities Co. U.S.A. for the manufacture of Christmas trees and conventional wellhead assembles and with M/s. Godiva Fire Pumps Ltd U.K. for the manufacture of fire fightings pumps and also with M/s. Nikkiso Co Ltd. Japan for the manufacture of canned motor pumps. The mobile fire fighting pump sets manufactured in technical collaboration with Godiva Fire Pumps Ltd. U.K. was well received in the market during the year 1988. In the year 1991 the plant for manufacturing submersible pumps under licence from Ebara Italia S.P.A. was erected in Shindewad near Shirwal. KBL made technical collaborations with worldrenowned companies in the year 1994 for manufacture of pumps machine tools and hermetic compressors. Also in the same year the company received the Export Excellence Award from the Government of India for the seventh year in a row.In the year 1995 KBL had signed a technical collaboration agreement with Corrocoat Ltd. U.K. for the manufacture of anticorrosion coatings for pumps. For the gateway to enter the power generation sector the company has signed a cooperation and Technology Transfer agreement with Finmeccahica S.p.A. Azienda Ansaldo of Italy in the period of 1996 for manufacture of steam turbines. During the year 199798 the company inaugurated its Anti Corrosion coating plant at Kirloskarvadi with capacity of 150 TPA. In 199899 the company tied up with one of the world leaders in hydroturbinesEbara Corporation Japan to offer turnkey execution facilities. KBL has entered into a distribution agreement with Erhard Gmbh and Co Germany during the year 1999 and also the ToyotaKirloskar the 50:50 joint venture between Toyota and the company was sets up its first service stationcumshowroom at Goregoan in suburban Mumbai. In the year 2001 the company bagged two orders worth of Rs 519 crore included Sardar Sarovar Nigams Rs 442crore contract to manufacture and commission pump stations in Saurashtra. During the year 2003 KBL had acquired certain assets and businesses of the UKbased SPP Pumps Ltd a part of Thyssen Bornemiscza Group and also in the same year the company invested 1950000 GBP Rs 149077500 in the share capital of a JV Company incorporated in the United Kingdom. KBL and Hindustan Construction Company Ltd HCC had jointly submitted a bid for Devadula Godavari lift Irrigation Scheme of Government of Andhra Pradesh in the year 2004. The Contract was awarded to HCC and the company as joint bidders.The company bagged contract worth 1240 million in the year 2004 also bagged an order worth Rs 414000000 from Bharatiya Nabhikiya Vidyut Nigam Ltd acting through Nuclear Power Corporation of India Ltd Mumbai for design drawing manufacture and supply etc of 3 primary sodium pumps its spares and accessories and launched its new generation submersible pump Champion 2. During the year 20052006 the company had hived off its AntiCorrosive Product Division to form a joint venture Company with Corrocoat Ltd. UK. The operations of this new company Kirloskar Corrocoat Private Limited commenced from 1st April of the year 2006. During the period of 200607 the company had acquired 100 shares of Aban Constructions Pvt Ltd a Chennai based company belongs to a reputed Aban Group which engaged in oil and gas croos country pipelines and other construction activities. In September of the year 2007 KBL took over the management of The Kolhapur Steel TKSL a steel casting company registered with the BIFR. KBL had received a letter of intent LoI from the Government of Andhra Pradesh Irrigation CAD Department during April of the year 2008 with respect of Rajiv Sagar Lift Irrigation Project Dummugudem for Rs 3.38 billion and in May of the same year 2008 KBL had bagged contracts from the Nuclear Power Corporation of India A/c Bhartiya Nabhikiya Vidyut Nigam of Rs 992.4 million and Euro 1.814 million for civil works and Electochiorination plants building and associates structures for sea water pump house package. As at July 2008 Kirloskar Brothers through its investment company namely Kirloskar Brothers International BV had formed a subsidiary company in Netherlands under the name and style as Kirloskar Brothers Europe B. V.