Kalpataru Projects International Ltd. share price target

Kalpataru Power (KPTL) has acquired an 85% stake in Linjemontage I Grastorp AB (LG), a Swedish EPC company specialised in T&D; EPC and power supply solutions at an enterprise value of $24 million in an all-cash deal, translating to ~| 165 crore of enterprise value and | 141 crore for acquisition of 85% stake in rupee terms. The transaction will be financed through internal accrual and some short-term debt, if required. KPTL will have right to acquire remaining 15% stake in future. The transaction is expected to be closed in Q1FY20. Linjemontage's CY18 revenue was at...

Strong Performance Across Segments: Q3FY19 revenues of Kalpataru power Transmission Ltd (KPTL) grew by 21.7% YoY to Rs. 17,247 Mn driven by healthy order execution.

ICICI Securities Ltd | Retail Equity Research For Q3FY19, KPTL reported revenue at | 1724.7 crore registering strong growth of 21.7% YoY, above our estimate of | 1672.9 crore driven by strong execution. On a consolidated basis, revenues grew 26.0% to | 2179.6 crore while PAT margins improved 100 bps to 4.3% due to the better performance of developmental assets EBITDA came in at | 183.9 crore with EBITDA margins of 10.7%, largely in line with our estimate of | 180.7 crore, owing to focus on...

KPP (standalone) reported better-than-expected operational performance, driven by strong execution across all segments. While revenues grew 29% yoy, EBITDAM remained steady at 10.9% and PAT increased by 28% yoy. Order inflows increased by 90% yoy to Rs20bn. Order backlog increased by 47% yoy to...

For Q2FY19, KPTL reported robust revenues at | 1574.1 crore registering strong growth of 28.7% YoY (above our estimate of | 1493.9 crore) driven by strong execution. On a consolidated basis, revenues grew 28.0% to | 2480.5 crore, PAT margin improved 190 bps to 4.6% owing to a better operating performance EBITDA came in at | 170.9 crore with EBITDA margins of 10.9%, in...

Kalpataru Power Transmission (KPTL) has delivered a strong performance in 2QFY19 led by better-than-expected execution in Railway, Oil & Gas Pipeline and T&D; business. We continue to believe that KPTL is well-placed to benefit from continued spending in T&D;, railway and pipeline segments. Considering the strong visibility on revenue and order flow front, sustained earnings momentum and likely improvement in return ratios in next 2 years, we maintain our...

Aided by strong execution in T&D;, Railway and Pipeline business coupled with higher margin, Kalpataru Power Transmission (KPTL) has delivered a decent performance in 1QFY19. Its standalone earnings improved by 15% YoY to Rs810mn (in-line with our estimate of Rs792mn), while revenue grew by 10% YoY (16% YoY Like-to-Like basis) to Rs13.2bn. EBITDA grew by 15% YoY to Rs1.6bn, while EBITDA margin expanded by 50bps YoY to 11.9% led by cost control. At subsidiary level, while JMC Projects' PAT grew by 24% YoY to Rs266mn led by margin expansion and higher other income, Shree Shubham Logistics' (SSL) revenue rose by 115% YoY to Rs290mn led by higher utilisation level. We continue to believe that KPTL is well-placed to benefit from...

For Q1FY19, Kalpataru Power (KPTL) reported revenues at | 1324.9 crore, up 13.3% YoY, below our estimate of | 1438.9 crore. On a consolidated basis, revenues grew 9.0% while the PAT margin improved 180 bps to 4.3% due to the better performance of developmental assets and interest rate reduction EBITDA came in at | 157.1 crore with EBITDA margins of 11.9%, better than our estimate of 11.4%. The EBITDA margin expansion was on account of lower raw material and operating expenses...

KPTL reported standalone revenue growth of 15.3% YoY at ~`57.8bn adjusting for the GST impact beginning of FY18. Revenue from EPC contract grew 14.6% YoY to `48.9bn while revenue from sale of products (tower and components) grew 21.6% YoY to `7.5bn. EBITDA margins expanded 36bps YoY to 10.9% led by operational efficiencies even with increase in raw material cost by 28.8% YoY to ` 26.2bn. The operating expenses grew by ~15% YoY to Rs 51.4bn. The net profit increased by 19.7% YoY to `3.22bn with marginal increase in interest cost by 5.2% YoY...

Robust Earnings Growth on Strong High Order Book Aided by strong execution in T&D;, railway and pipeline business coupled with higher margin, Kalpataru Power Transmission (KPTL) has delivered a strong performance in 4QFY18. Its standalone revenue and earnings surged by 27% YoY and 17% YoY to Rs19.3bn and Rs1.04bn, respectively. EBITDA grew by 33% YoY to Rs2.1bn, while EBITDA margin expanded by 50bps to 10.8%. At subsidiary level, while JMC Project's (JMC) PAT grew by 92% to Rs343mn led by margin expansion and higher other income, Shree Shubham Logistics' (SSL) revenue rose by 75% YoY to Rs107mn led by higher utilisation level (80%). We continue to believe that KPTL is well-placed...