Buy Kalpataru Projects International; target of Rs 1140: Sharekhan

Sharekhan is bullish on Kalpataru Projects International has recommended buy rating on the stock with a target price of Rs 1140 in its research report dated February 28, 2024.

Broker Research

February 29, 2024 / 09:12 IST

buy

26 Aug, 2025 12:21

Volume

Todays L/H

Sharekhan's research report on Kalpataru Projects International

KPIL’s consolidated order book of Rs. 51,753 crore along with additional L1 position of over Rs. 6,000 crore provides revenue visibility of more than 3 years. As per international media report, Saudi Aramco has issued a letter of intent for about 16 EPC package worth USD10 billion for its Master Gas System expansion (Phase 3). As per industry source, KPIL could emerge as the lowest bidder for three packages. Any order win in this prestigious project will qualify KPIL for future large projects and drive re-rating of the stock. Foray into the new underground tunnelling segment and emerging opportunities related to construction for data centres, airports, and industrial plants will provide further impetus to growth momentum. Robust order book and tender pipeline, merger synergies, and easing cost headwinds would improve performance.

Outlook

We maintain Buy with a revised PT of Rs. 1,140, as the stock is reasonably valued at ~15x its FY2026E PER.

For all recommendations report, click here