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Kalpataru Projects soars 6% on solid Q2 earnings show

By the end of the September quarter, Kalpataru’s consolidated order book rose 29 percent on-year fueled by strong inflows in the T&D and B&F segments, signaling robust demand and growth potential in core sectors.

October 29, 2024 / 12:17 IST
Operational performance also significantly improved as EBITDA margin swelled up to 6.9 percent in the quarter gone by, as against 5.3 percent in the corresponding period of the previous fiscal.
     
     
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    Shares of Kalpataru Projects International soared as much as 6 percent on October 29, buoyed by the company's strong earnings for the September quarter. Aided by its robust order book, the company's net profit surged close to 40 percent on year to Rs 125.6 crore for the July-September quarter, up from Rs 90 crore in the year ago period.

    At 12.08 pm, shares of Kalpataru Projects were trading at Rs 1,233.60 on the NSE. The strong quarterly show also triggered heavy trading volumes in the counter. As much as seven lakh shares already changed hands so far, more than double the one month daily traded average of three lakh shares.

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    Revenue from operations grew 9.1 percent to Rs 4,930 crore, up from Rs 4,518.4 crore in Q2 of the previous fiscal, driven by strong execution and a healthy order backlog. Operational performance also significantly improved as EBITDA margin swelled up to 6.9 percent in the quarter gone by, as against 5.3 percent in the corresponding period of the previous fiscal.

    As of the end of the September quarter, Kalpataru's consolidated order book expanded 29 percent year-on-year to Rs 60,631 crore, driven by strong order inflows, particularly in the transmission & distribution (T&D) and buildings & factories (B&F) segments, indicating robust demand and growth opportunities in its core sectors.

    The company also signed binding agreements to sell Vindyachal Expressway for an enterprise value of Rs 775 crore, with the transaction expected to close in FY26, pending regulatory approvals and closing adjustments.

    "We have delivered solid performance this quarter, with consolidated revenue growth of 9 percent to Rs 4,930 crore, PBT growth of 42 percent year-on-year to Rs 188 crore, and PAT growth of 40 percent year-on-year to Rs 126 crore. Notably, this growth is supported by our strong order book position of Rs 60,631 crore and year-to-date order inflows of approximately Rs 19,000 crore, including over Rs 7,000 crore in L1 status," Manish Mohnot, MD and CEO of the company said in an exchange filing.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Oct 29, 2024 12:17 pm

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