Kalpataru Power jumps 7% on securing orders worth Rs 1,560 crore

The stock had been a under-performer so far this month and quarter when compared to the BSE Sensex returns.

Shares of Kalpataru Power Transmission (KPTL), a leading global EPC player in the power and infrastructure contracting sector, surged 7.2 per cent in intraday trades on the BSE to a high of Rs 382 on Thursday after the company announced large order wins.

According to a release issused by the company to the BSE, the company has secured new orders worth Rs 1,560 crore. The orders are from India, Africa, CIS and South America in the power transmission business.

Further, KPTL’s international subsidiary has also secured new power transmission projects in Europe.

Commenting on the new order announcements, Manish Mohnot, Managing Director & CEO, KPTL said “We are delighted with the new order wins, especially that all these orders are in our core power T&D business. These orders in the T&D business reaffirms our confidence in the strong growth of this business going forward. With reduced volatility and good visibility across all our businesses, we are confident to reach our targeted margin and build a strong order book.”

The company has reported a dismal set of numbers for the quarter ended September 2021. The net profit plunged 76.7 per cent to Rs 37 crore when compared with Rs 159 crore in the September 2020 quarter. Total income declined by 14 per cent to Rs 1,618 crore from Rs 1,882 crore.

Following which, the stock had witnessed a downward pressure. So far this quarter, as of yesterday (December 29) the stock was down 7.2 per cent for the month and 12 per cent for the quarter as against a 1.3 per cent rise for the Sensex on a monthly basis and 2.2 per cent on a quarterly basis.

Today, as of 10:55 am, the stock was up 6.5 per cent at Rs 379.65, with trades of around 28,000 shares on the BSE, as against a 0.2 per cent gain for the BSE Sensex.