Kalpataru Projects gains on increasing fundraise limit

Kalpataru Projects International added 1.63% to Rs 1,294.70 after the company said that it has increased fund raising limit via non-convertible debentures (NCDs) by upto Rs 1,600 crore.

In the regulatory filing, the firm stated that its board has approved the proposal for setting up of fund raising limit by way of issuance of secured / unsecured redeemable NCDs by the company upto Rs 1,600 crore (principal amount) outstanding at any point of time (inclusive of current NCDs amounting to Rs 1,298 crore) and has authorized the executive committee of the board of directors for the same.

Kalpataru Projects International (KPIL) is part of the Kalpataru Group, a diversified conglomerate with interests in EPC and real estate. KPIL is involved in EPC segment mainly in power T&D segment, railway infrastructure and oil & gas infrastructure and has presence in 70 countries. KPIL has extended its reach in the European market through its subsidiary Linjemontagei Grastorp AB in Sweden and Latin America through its subsidiary Fasttel Engenharia Ltda in Brazil.

The companys consolidated net profit rose 20.71% to Rs 169 crore on 22.30% increase in net sales to Rs 5,971 crore in Q4 FY24 over Q4 FY23.

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