Kalpataru Power sizzles after securing new orders

Kalpataru Power Transmission gained 3.17% to Rs 317.70 after the company said it has secured new orders/notification of award of about Rs 900 crore.

In a regulatory filing made before market hours today, the company said that its T&D (transmission and distribution) business has secured an order from the overseas market. The company has also received engineering, procurement, and construction (EPC) orders for pipeline laying and associated works in India.

Commenting on the new order announcements, Manish Mohnot, managing director & CEO, KPTL, said: "We are happy with the new order wins in our T&D and Oil & Gas business. Our current year order inflow is in excess of Rs 5,400 crore and we are favourably placed in projects of over Rs 2,000 crore. We are on track to achieve our targeted numbers for the financial year 2020-21."

Kalapataru Power Transmission is one of the largest specialized EPC companies in India. On a consolidated basis, the company's net profit rose 1.5% to Rs 139 crore on a 5.7% decline in net sales to Rs 3,032 crore in Q2 September 2020 over Q2 September 2019.

On a year-to-date (YTD) basis, the stock has declined by 22.47% while the benchmark S&P BSE Sensex has added 15.38% during the same period.

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