Kalpataru Projects Bags Orders Worth Rs 2,306 Crore From T&D, Infrastructure Business
The transmission-and-distribution business continues to remain robust with strong tendering activity globally, says the KPIL CEO.
Kalpataru Projects International Ltd. has been awarded orders worth Rs 2,306 crore, according to an exchange filing on Thursday.
The orders are primarily from the company's transmission-and-distribution business in the overseas market, as well as infrastructure projects in the Indian markets, it said.
This brings the total orderbook of KPIL in the current financial year to Rs 22,500 crore, offering improved visibility of growth in the upcoming quarters, Chief Executive Officer Manish Mohnot said.
"The T&D business continues to remain robust with strong tendering activity globally on the back of rising power demand, rapid expansion of renewable energy and focus on improvement of grid infrastructure. Additionally, the order in the B&F business has helped us to further strengthen our market position," he added.
KPIL had reported a marginal dip of 3% in consolidated net profit to Rs 139.6 crore in the December quarter from Rs 144.1 crore in the quarter ended Dec. 31, 2023. The total income of the company rose to Rs 5,742.8 crore in the third quarter.
Shares of KPIL ended 2.08% higher at Rs 917.05 apiece on the National Stock Exchange, compared to a 0.93% advance in the benchmark Nifty. The stock has fallen 6.97% on a year-to-date basis.
Out of the 17 analysts tracking the company, 15 have a 'buy' rating on the stock and two recommend 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 35.2%.
