Kalpataru Projects International Ltd. Announces Q1 FY25 Results

Consolidated revenue up by 8.2% YoY to ₹4,587 Crores

Order Book at ₹57,195 Crores, up by 21% YoY

YTD Order Inflows of ₹7,015 Crores; Additional L1 of ₹5,000 Crores 

KEY HIGHLIGHTS:

• Revenue growth driven by power transmission & distribution (T&D) and buildings & factories (B&F) business on back of strong order backlog and diversified project mix
• Sustained quality of earnings with consolidated EBITDA margin of 8.2% and standalone EBITDA margin of 8.4%
• Order inflows of ₹7,015 Crores till date in FY25 led by strong business momentum in T&D and B&F
• Order Book at ₹57,195 Crores as on 30 June 2024; Additional L1 position of approx. ₹5,000 Crores mainly in T&D business

Bengaluru | Monday, 29 July 2024 | Kalpataru Projects International Limited (KPIL), a leading global infrastructure EPC company, announced its results today for the quarter ended 30^th June, 2024.

FINANCIAL HIGHLIGHTS – KPIL (CONSOLIDATED) – Q1 FY25

• Revenue increased by 8.2% YoY to ₹4,587 Crores driven by T&D and B&F business
• EBITDA at ₹378 Crores with margin of 8.2%; EBITDA margin declined due to variation in project mix and investment in resource augmentation to support execution going forward
• PBT at ₹137 Crores with a margin of 3.0%
• PAT at ₹84 Crores for Q1 FY25
• Net Consolidated Debt at ₹3,739 Crores as on 30^th June 2024

FINANCIAL HIGHLIGHTS – KPIL (STANDALONE) – Q1 FY25

• Revenue up by 3% YoY at ₹3,722 Crores; Revenue growth moderated mainly due to water business given lower collections on account of delay in budgetary allocations
• EBITDA at ₹314 Crores with margin of 8.4%
• PBT at ₹164 Crores with margin of 4.4%
• PAT at ₹117 Crores with a margin of 3.1%
• Standalone net debt as on 30^th June 2024 at ₹2,907 Crores

ORDER INTAKE & ORDER BOOK

• Received additional new orders of ₹838 Crores in July 2024; Order inflows has reached ₹7,015 Crores till date in FY25
• Order book at ₹57,195 Crores as on 30 June 2024, an increase of ~21% YoY; Additional L1 position of approx. ₹5,000 Crores

Management Comments

Commenting on the results, Mr. Manish Mohnot, MD & CEO, KPIL said:

“We have delivered resilient performance in Q1FY25 despite lower manpower availability and delay in collections given typical seasonality and general elections. However, getting in Q2 FY25, we have started to see moderation in working capital intensity with improving budgetary allocations. We are confident of achieving our targeted net working capital of below 100 days by end of FY25.

Further, we are pleased with the ordering momentum, which is reflected from the fact that in first four months of the FY25 itself, our order inflows including L1 has reached over Rs.12,000 Crores. More importantly, most of the new orders secured are in the T&D and B&F business, which are at better margin and in-line with our focus to improve profitability going forward.

With our strong order backlog, execution prowess and financial prudence, we are well-positioned to deliver the targeted annual revenue growth of 20% for FY25.”