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Kalpataru Projects Rated 'Buy As Systematix Initiates Coverage, Sees Upto 18% Upside
The brokerage values Kalpataru International at 16x FY28E EPS, citing strong growth visibility across transmission and distribution, buildings and factories, and oil and gas segments.
08 Dec 2025, 12:17 PM IST 
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Kalpataru International’s order book stood at Rs 645 billion at FY25-end, with 41% contribution from overseas markets, ensuring multi-year revenue visibility.
(Photo Source: Kalpataru Projects International)
In this report the brokerage highlights Kalpataru Projects' improving financial metrics, with RoCE projected to rise from 10.7% in FY25 to 14.2% in FY28, aided by working capital optimization and non-core asset monetization. Net debt reduction and healthy cash flows further strengthen the balance sheet.
