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Prabhudas Lilladher Report
Kalpataru Power Transmission Ltd. reported a revenue decline of 2.8% YoY to Rs 15.4 billion, mainly due to lower order inflows received in FY22. However, with strong order pipeline, execution is likely to pick-up in coming quarters.
Margins were impacted due to higher commodity prices and freight cost. Management indicated margins are expected to improve from Q3 FY23 with execution of newer fixed price contracts (received at higher prices) and reach 9% in FY23.
Order inflows came in at Rs 36.6 billion, translating to order book of Rs 175.5 billion (2.5 times trailing twelve months revenue).
Going forward, Kalpataru Power's order pipeline remains healthy with strong traction seen in international transmission and distribution and oil and gas sector in geographies such as such as Middle East, Americas and Africa.
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