Kalpataru Power Transmission Q1 FY22 PAT climbs 179% to Rs 78 cr

On a consolidated basis, Kalpataru Power Transmission (KPTL)'s net profit soared 178.57% to Rs 78 crore on a 37.51% jump in revenue from operations to Rs 3,204 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21).

Consolidated profit before tax surged 135.18% to Rs 127 crore in Q1 FY22 as against Rs 54 crore in Q1 FY21. EBITDA grew 10% Y-o-Y (year-on-year) to Rs 297 crore with margins at 9.3%. The EBITDA margin remained low as compared to last year due to divestment of T&D SPVs, as well on account of increase in commodity prices, COVID-19 related expenses and higher logistics cost. The Q1 earnings was declared after trading hours yesterday, 3 August 2021.

Consolidated order book stood at Rs 29,313 crore as on 30 June 2020 (L1 of Rs 5,050 crore). The order inflows was at Rs 5,524 crore till date in FY22 driven by T&D, B&F, Urban Infra and Water business.

JMC Projects (India), a subsidiary of Kalpataru Power Transmission (KPTL), recorded a revenue growth of 139% Y-o-Y to Rs 1,124 crore. The EBITDA surged 189% Y-o-Y to Rs 81 crore while margins stood at 7.2%. The EBITDA margin was affected due to job mix, higher material cost and COVID-19 related expenses. Profit before Tax (PBT) stood at Rs 19 crore with margin at 1.7%. Profit after Tax (PAT) was at Rs 16 crore with margin at 1.4%. The order book stood at Rs 15,916 crore as on 30 June 2021 (L1 of around Rs 2,500 crore). The KPTL arm received orders worth Rs 4,659 crore YTD FY22.

Commenting on the Q1 results, Manish Mohnot, the managing director (MD) and chief executive officer (CEO) of KPTL, stated: "Despite lockdowns and challenges due to the severe second wave of COVID-19, KPTL and JMC delivered sustainable performance in the first quarter of the fiscal. With the rising commodity prices, higher logistics cost and supply chain issues posing near term challenges, we remain diligent in managing cost and navigating the current environment. We are progressing well on our strategic agenda to restructure our road BOOT assets and complete the sale transaction of Kohima-Mariani transmission asset. We are confident to complete these transactions during FY22. Our consolidated order book including L1 has reached over Rs 34,000 crore and additionally we have good visibility across our businesses. This gives us confidence of sustained growth in the years ahead."

KPTL is one of the largest specialized EPC companies in India. Shares of KPTL rose 0.59% to Rs 479.45 on BSE. The scrip hovered in the range of Rs 472.25 to Rs 488.95 so far.

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