India's Nuclear Boom Fuels Pump Maker Growth

India's expanding nuclear energy program is creating a niche market for specialized pump manufacturers critical for operational safety.

The nation aims to increase its nuclear capacity to 22 GW by 2032 and a substantial 100 GW within two decades, driving demand for essential equipment.

KSB Ltd., with nearly five decades in the nuclear sector, currently holds a nuclear order book exceeding ₹1,235 crore as of June 2026. This includes key projects like Gorakhpur Haryana Anu Vidyut Pariyojana and Kaiga Atomic Power Station.

While KSB faces slow revenue translation due to lengthy testing cycles, it anticipates significant invoicing from CY26 onwards. The company also benefits from export opportunities, supplying equipment to a European nuclear plant.

Kirloskar Brothers Ltd. (KBL) is taking a different approach, investing in indigenous technology to become a qualified second supplier. KBL's prototype coolant pump successfully completed testing, exceeding expectations.

KBL's pending order book stood at ₹2,375 crore at the end of June 2026, with the power sector, including nuclear, contributing nearly ₹600 crore. The company is also expanding globally through subsidiaries like SPP Pumps and SyncroFlo.

Both companies are diversified, with nuclear being one of several growth areas, including industrial, water, petrochemical, and data-center cooling sectors. Investors are noting KBL's higher valuation premium, reflecting market anticipation of its earlier-stage nuclear opportunity.