Kalpataru Projects International Ltd

Filing Status

• Transcript content not included; wrapper metadata only for Aug 11, 2026 call.
• Uploaded transcript on Kalpataru's investors page per LODR Regulations.

Tax assessment update

• Eswatini Revenue Service demands tax and penalty for Nov 2024–Jan 2026.
• Penalty of SZL 643,353.62 (~INR 38.02 lakhs) demanded; objections to be filed within timelines.

Award details

• Total value of new orders awarded: ₹3,526 crores in India.
• Scope covers EPC for an industrial plant, T&D, and residential work in India.
• All orders are domestically executed in India.
• FY27 year-to-date order intake surpassed ₹11,000 crores, supporting growth.

Meeting Details

• Date and time: 11 August 2026, 05:00 p.m. IST.
• Type: group earnings conference call.

Participants

• Key participants: Company Secretary.

Purpose

• Earnings discussion on unaudited consolidated and standalone results for quarter ended 30 June 2026.

Additional Notes

• Audio recording of the call is available on the company website.

Financial highlights

• Consolidated revenue ₹6,408 crore; EBITDA ₹562 crore; PBT ₹420 crore in Q1 FY27
• PBT margin 6.6%; EBITDA margin 8.8%; margins up YoY
• PAT ₹312 crore; YoY growth 46%
• Net debt ₹917 crore; debt down 67% YoY; working capital days 80
• Standalone revenue ₹5,482 crore; EBITDA ₹488 crore; PAT ₹265 crore

Order intake & book

• Order inflows for FY27 to date ₹7,668 crore; L1 ~₹7,300 crore
• Order book at all-time high ₹66,607 crore as of 30 June 2026
• New orders worth ₹876 crore received in Q2 FY27 (to date)

Ratings & ESG

• Ind-Ra upgraded credit rating to IND AA+/Stable
• CRISIL ESG rating upgraded to Strong; Core ESG rating 65

Management outlook

• Management cites disciplined execution and expanding profitability; robust order momentum
• Forecast remains positive with fortified balance sheet and diversified growth

Business Overview

• EPC contractor across six verticals: T&D, Building & Factories, Railways, Water, Oil & Gas, Urban Infra.
• Global footprint in 75+ countries with in-house design, engineering, and manufacturing capabilities.
• Order book stood at ₹66,607 crore as of 30 June 2026.
• FY26 revenue ₹27,143 crore; diversified EPC portfolio supports steady growth.
• Growth capex of ~₹3,000 crore invested FY22–FY26.
• HVDC T&D, design-build and composite projects identified as growth priorities.
• Integrated EPC with in-house capabilities supports execution of large international projects.

Key Operational Highlights

• Q1 FY27 consolidated revenue ₹6,408 crore, up 4% YoY.
• Consolidated EBITDA ₹488 crore; margin 8.9%.
• Standalone EBITDA ₹562 crore; margin 8.8%.
• Order inflows ₹7,668 crore in YTD FY27; favorable placement in projects ₹7,300 crore.
• Maiden water treatment project won in the Middle East.
• Order book ₹66,607 crore; HVDC T&D, B&F and Oil & Gas seen growth.
• Debt profile improved: gross debt ₹2,595 crore; net debt ₹917 crore; NWC 80 days.
• Credit rating upgraded to AA+/Stable by India Ratings.

Financial Performance

• Consolidated PBT ₹361 crore; margin 6.6%, up 120 bps.
• Consolidated PAT ₹312 crore; margin 4.9%, up 140 bps.
• Standalone PBT ₹420 crore; margin 6.6%, up 190 bps.
• Standalone PAT ₹265 crore; margin 4.8%, up 80 bps.
• Standalone EPS ₹15.54; YoY growth 32%.
• Consolidated revenue ₹6,408 crore; YoY growth 4%.

Capital Structure & Liquidity

• Net debt/equity 0.1x; robust balance sheet and improving liquidity.
• NWC days 80; strong working capital management supports liquidity.
• Dividend payout: ~₹525 crore distributed FY22–FY26; average payout 22%.

Strategic Priorities & Outlook

• Integrated EPC model; expand in HVDC T&D, design-build, and international markets.
• Growth drivers: energy transition, urban infrastructure, data centers, and Oil & Gas.
• Growth capex and in-house asset base to support large project execution.
• Outlook: continued robust execution and margin improvement.

Risks & Mitigation

• Water business slower due to lower JJM collections.
• Supply chain constraints in international markets affecting T&D execution.
• Mitigation: strong order book and in-house asset base to sustain growth.

Governance & Leadership

• Independent Directors: Dhananjay Mungale, Raksha Kothari, Bimal Tanna.
• MD & CEO: Manish Mohnot; Deputy MD: S K Tripathi.
• Executive team with CFO and governance committees for nominations, remuneration, and risk management.
• Dividend track record; ESG governance and safety focus.

Board approval

• Capex up to Rs 150 crore approved for rolling mill at Raipur Plant as backward integration.

Financial results approved

• Board approves unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Limited Review Reports issued with unmodified opinion.

Legal/regulatory matters

• High Court partially set aside KEPL arbitration award; no provision required; monitoring ongoing.

Use of proceeds

• Statement shows no deviation in the use of issue proceeds for quarter ended 30 June 2026.

Exceptional items / disposals

• Exceptional items include Vindhyachal Expressway disposal gains and related impairments.

Tax update

• State Tax Officer issued Goa VAT notice against erstwhile JMC Projects (India) for AY 2016-17.
• The notice demands tax, interest, and a penalty of INR 15.52 lakhs.
• Action pertains to alleged wrong availment of Entry Tax Input Credit on capital assets.
• Kalpataru will file an appeal within prescribed timelines.
• Penalty amount is not expected to have significant impact on the company.