Rs 66,607 Crore Order Book: This EPC Company Bags Fresh Orders Worth Rs 2,349 Crore

Kalpataru Projects International Ltd, or KPIL, has secured new engineering, procurement and Construction orders and notifications of awards worth about Rs 2,349 crore across its Power Transmission and Distribution, or T&D, and Buildings and Factories, or B&F, businesses in India.

The company disclosed the order wins on October 21, 2026, stating that the contracts were received in the normal course of business. The latest wins take its FY27 order inflows beyond Rs 22,000 crore, according to Managing Director and Chief Executive Officer Manish Mohnot.

The order value is equivalent to about 8.7 per cent of KPIL’s consolidated FY26 revenue of Rs 27,143.06 crore, underlining the relevance of the contracts even for a company with a large and diversified EPC platform. The awards are also concentrated in two of KPIL’s most important businesses, which together accounted for 73 per cent of its Order Book at the end of June 2026.

Mohnot said, ‘We continue to witness robust growth across our core T&D and B&F verticals. These new contract wins solidify our leading market position in India's fast-growing, high-potential infrastructure landscape.’

The announcement extends the momentum seen at the start of the financial year. As of June 30, 2026, KPIL had reported order inflows of Rs 7,668 crore and an order book of Rs 66,607 crore. T&D represented 44 per cent of the backlog and B&F accounted for 29 per cent, making the two verticals central to execution visibility.

T&D remains a key beneficiary of investment in grid expansion, renewable-energy integration and higher-capacity transmission networks. KPIL has been pursuing more complex opportunities in high-voltage direct current transmission, design-build projects and substations. Its domestic T&D revenue, excluding Brazil operations, rose 10 per cent year-on-year to Rs 2,924 crore in the June quarter.

The B&F division is also becoming an increasingly important growth engine as the company targets larger design-build assignments, industrial construction, data centres and airports. B&F revenue rose 15 per cent year-on-year to Rs 1,588 crore in the June quarter, supported by project progress and a favourable mix.

KPIL’s June-quarter consolidated net sales increased 3.8 per cent year-on-year to Rs 6,407.97 crore, while profit after Tax rose 45.9 per cent to Rs 311.53 crore. Its operating margin before other income improved to 8.77 per cent from 8.51 per cent a year earlier, indicating that execution in the higher-margin T&D, B&F and oil and gas businesses has supported profitability.

The fresh awards also come as KPIL maintains a relatively conservative balance-sheet position for an EPC contractor. Consolidated net debt stood at Rs 917 crore at the end of June 2026, with net working capital at 80 days. This financial flexibility is relevant as larger EPC projects require working-capital support, Bank guarantees and sustained procurement capacity.

However, order inflows will need to translate into timely execution and cash collections. Management has flagged slower collections in domestic water projects, which has constrained new bidding in that segment. International T&D operations have also faced supply-chain constraints, although the latest contracts are domestic and focused on the company’s stronger core verticals.

As of 9:15 am on October 21, 2026, KPIL shares were trading at Rs 1,369.45, up 1.88 per cent from the previous close of Rs 1,344.15. The stock was about 6 per cent below its 52-week high of Rs 1,456.60, while its one-year gain of 5.71 per cent compared favourably with a 6.91 per cent decline in the BSE 500 over the same period.

Disclaimer: The article is for informational purposes only and not investment advice.