Kalpataru Projects Q3 Results Review - Decent; Strong T&D Ordering Outlook: Prabhudas Lilladher

Prabhudas Lilladher Report

Kalpataru Projects International Ltd. reported decent quarterly performance with standalone revenue growth of ~18.2% YoY and Ebitda margins contracting 40 basis points YoY to 8.3% factoring in legacy executions.

Net working capital days improved to 112 days versus 117 days in Q3 FY23, driven by efforts towards project closure and timely collections. Order pipeline remains strong across business verticals such as transmission and distribution, water, buildings and factories and oil and gas, urban infra.

Kalpataru Projects' management is confident of achieving ~20-25% revenue growth and 4.5-5% profit before tax margins for FY24 on the back of improved execution and strong order book.

Order inflows to be Rs 240 billion plus for FY24. Going forward, focus will be on selective bidding in large size projects with sustained margins and better cash conversion.

Amid strong infrastructure spending, expanding presence in large size projects in underground tunneling, airport, design build B&F projects, data centers, metro rail, industrial plants etc.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.