Kalpataru Power Transmission Secures Rs 700 Crore Worth Of Orders
Biswajit Yadav / 01 Apr 2014
Kalpataru Power Transmission (KPTL), a leading global EPC player in the power & infrastructure contracting sector has bagged total orders worth Rs 700 crore including orders from the overseas market.
KPTL is a Kalpataru Groups' listed company having diversified portfolios in power transmission & distribution, cross country pipeline, oil & gas field surface facilities, civil infrastructure projects, power generation as well as railway projects.
The company informed BSE that it has secured total orders worth Rs 700 crore, of which the major order was from supply and erection of 765KV D/C Solapur-Aurangabad transmission line of 140 km from PGCIL. It has also won an order to supply transmission towers worth Rs 134 crore in Saudi Arabia and Ethiopia. Along with this, the company's infrastructure division has secured various orders worth around Rs 188 crore.
Coming to the financial performance, the company has posted a topline growth of more than 18% on yearly basis to reach Rs 1051.34 crore during Q3FY14. Profit after tax (PAT) of the company has plunged by more than 4% on yearly basis to Rs 33.7 crore in the said quarter. Inspite of increase in topline, the bottomline of the company has reduced mainly due to increase in total expenses. The total expense of the company has increased by around 20% during the Q3FY14, whereas the topline has surged by merely 18%. EBITDA of the company during Q3FY14 has increased by more than 6% Y-o-Y, whereas EBITDA margin has reduced to 8.94% during Q3FY14 as against 9.96% during Q3FY13.
The company has a total order book of over Rs 7700 crore as on 31 March, 2014 which includes new orders received worth over Rs 700 crore during this quarter.
Commenting on the announcements, Mr Ranjit Singh, Managing Director, KPTL, said, “We continued to expand in international market in Africa region and also maintained order flow from PGCIL. We also succeeded in getting traction in infrastructure division with a healthy mix of orders.”
On the valuation front, the stock is trading at P/E TTM of 10.18x whereas the peers of the company is trading at an average P/E of 30.52x. We would advise that the investors who are looking for a long term investment can add this stock in their portfolio.
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