Kalpataru Power Transmission (KPTL) on Tuesday said it has secured new orders or notification of award of about Rs 1,300 crore.
The company said that the orders from India and overseas market in the transmission and distribution (T&D) business. It further said that the it had received engineering, procurement, and construction (EPC) orders for pipeline laying and associated works in India.
Kalpataru said that the order for railway electrification has been awarded by the Central Organization for Railway Electrification (CORE). The company's international subsidiary has also secured new T&D projects in Europe.
Commenting on the new order announcements, Manish Mohnot, managing director & CEO, KPTL, said, "We are delighted with the new order wins in all our businesses. Our current year order inflow is in excess of Rs 4,500 crore and we are favourably placed in projects of over Rs 3,000 crore. We continue to be on track to achieve order inflows in the range of Rs 9,000-10,000 crore for the current financial year. We continue to focus on expanding our international operations in all our business verticals for KTPL and JMC. The process of divestment of T&D assets is also on track and we expect to be net debt free in 2021."
Kalpataru Power Transmission held 67.75% stake in JMC Projects (India).
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.
The scrip was down 1.55% at Rs 314.85. It traded in the range of 314.35 and 321.60 so far during the day.
On a year-to-date (YTD) basis, the stock has declined by 23.08% while the benchmark S&P BSE Sensex has added 11.91% during the same period.
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