Civil construction company Kalpataru Projects International Ltd (KPIL) has won orders worth ₹2,333 crore. Shares of Kalpataru Projects surged by 0.88% to close at ₹1,183.50 apiece on the BSE today.
These orders were obtained through the company's engineering and construction divisions, along with its joint ventures and international subsidiaries. The new contracts include projects in the Transmission & Distribution (T&D) sector both domestically and internationally, an EPC contract for a metal industry industrial plant, and a residential building project in India, KPIL states in a filing.
The orders were secured by the company, its joint ventures, and its international subsidiaries.
The scope of work includes projects in the transmission and distribution sector within India and abroad, EPC projects for an industrial plant in the metal sector, and a residential building project in India.
“We are happy with the new order wins in our T&D business, including our largest order in Sweden secured through subsidiary, LMG. The orders in T&D business have enhanced our order book, thereby improving the growth visibility for the T&D business going forward. Our B&F business has further strengthen its capabilities by securing an EPC order in the metal industry from a prestigious client in India. These orders reaffirm our confidence that the T&D and B&F business will continue to contribute significantly to our growth going forward,” says Manish Mohnot, managing director and CEO, KPIL.
At the end of March, the company had previously announced receiving orders worth ₹2,071 crore. These were also acquired through its joint ventures and international subsidiaries. The recent orders involve Transmission and Distribution (T&D) projects internationally and the design and construction of an underground metro rail project in India, as stated by KPIL.
Kalpataru Projects announced its financial results for the quarter ending March 2024 on May 5. The company reported a net profit of ₹169 crore for the quarter, a 20.7% increase from ₹140 crore in the same period last year. Profit before tax (PBT) surged 103% year-on-year (YoY) to ₹211 crore.
Revenue for the three-month period reached ₹5,971 crore, a 22.3% increase from the ₹4,882 crore reported in the March 2023 quarter. The company attributed this growth to robust project execution.
Additionally, Kalpataru Projects declared a dividend of ₹8 per share, equating to 400% of the face value of ₹2 per share for FY24.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter rose 36.1% to ₹452 crore, compared to ₹332 crore in the same quarter last year. The EBITDA margin improved to 7.6% from 6.8% year-on-year.
For the full fiscal year 2024, revenue increased by 20% to ₹19,626 crore, marking the highest-ever consolidated annual revenue for the company. EBITDA for the fiscal year was ₹1,628 crore, with a margin of 8.3%.
