Sharekhan's research report on Kalpataru Power Transmission
KPTL sees healthy visibility of order intake for FY2020E and retains its revenue and OPM guidance for FY2020E. Divestment of four transmission assets in this fiscal year is likely to de-leverage the balance sheet and free up equity for further investments. We expect revenue/net profit to report a CAGR of 16.5%/21.7% over FY2019-FY2021E because of strong order backlog, healthy order intake and smooth execution.
Outlook
We maintain our Buy rating on Kalpataru Power Transmission Limited (KPTL) with a revised PT of Rs. 620, increasing our valuation multiple for the core business due to a positive business outlook.
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