KPIL Announces Q1 FY25 Results with 8.2% Revenue Growth

Kalpataru Projects International Limited (KPIL), a leading global infrastructure EPC company, announced its results for the quarter ended June 30, 2024.

Financial Highlights of Q1 FY25 – Consolidated

The company’s revenue increased by 8.2% year-on-year to ₹4,587 crores, driven by the Transmission & Distribution (T&D) and Building & Factories (B&F) businesses.

The EBITDA stood at ₹378 crores, with a margin of 8.2%. However, the EBITDA margin declined due to variations in the project mix and investments in resource augmentation to support future execution. The Profit After Tax (PAT) was ₹84 crores for Q1 FY25. The net consolidated debt was ₹3,739 crores as of June 30, 2024.

Financial Highlights of Q1 FY25 – Standalone

As for the standalone financials for the quarter, the revenue increased by 3% year-on-year to ₹3,722 crores. The revenue growth was moderated mainly due to the water business, which experienced lower collections because of delays in budgetary allocations.

The EBITDA stood at ₹314 crores, with a margin of 8.4%. The PBT was ₹164 crores, with a margin of 4.4%, and the PAT was ₹117 crores, with a margin of 3.1%. The standalone net debt was ₹2,907 crores as of June 30, 2024.

Order Intake and Order Book

In July 2024, the company received additional new orders worth ₹838 crores. The total order inflows have reached ₹7,015 crores to date in FY 2025. As of 30th June 2024, the order book stood at ₹57,195 crores, marking an increase of approximately 21% year-on-year. Additionally, there is an L1 position of approximately ₹5,000 crores.

Sharing thoughts about the financial performance of the quarter, the MD and CEO of KPIL, Mr Manish Mohnot, said, “We have delivered resilient performance in Q1FY25 despite lower manpower availability and delay in collections given typical seasonality and general elections. However, getting in Q2 FY25, we have started to see a moderation in working capital intensity with improving budgetary allocations. We are confident of achieving our targeted net working capital of below 100 days by the end of FY25.”

He also added, “Further, we are pleased with the ordering momentum, which is reflected from the fact that in the first four months of FY25 itself, our order inflows, including L1, have reached over ₹12,000 crore. More importantly, most of the new orders secured are in the T&D and B&F business, which are at better margins and in-line with our focus to improve profitability going forward. With our strong order backlog, execution prowess and financial prudence, we are well-positioned to deliver the targeted annual revenue growth of 20% for FY25.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.