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India: KPIL's order book rises over 20% y-o-y in Q1FY'25

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BigMint Bureau

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3 Aug 2024, 13:59 IST

India: KPIL's order book rises over 20% y-o-y in Q1FY'25

Kalpataru Projects International Limited (KPIL) has reported a 21% y-o-y growth in new orders which reached INR 57,195 crore during Q1FY'25. The company's revenue increased y-o-y led by a strong order book and diversified business profile.

Performance highlights

Order inflows of INR 7,015 crore: The company has secured orders of INR 7,015 crore and L1 of INR 5,000 crore till date in FY'25. Order inflows (including L1) led by transmission and distribution (61%), building and factories (28%) and water (11%). Nearly 90% of the new orders secured (including L1) are in the transmission and distribution and building and factories sectors.

Order book up 21% y-o-y: The order book rose 21% y-o-y to INR 57,195 crore in Q1FY'25. Out of the total, the share of domestic was 54% and international 46%.

EBITDA edges down 1% y-o-y: The company's EBITDA edged down by 1% y-o-y to INR 378 crore in Q1FY'25 as against INR 382 crore in the same period last year.

Segment-wise performance

Transmission & distribution: Rising demand for electricity amidst energy transition kept tendering activity robust in India, Africa, Middle East, the Americas and Europe. The company secured orders totalling INR 3,377 crore with an additional position of INR 3,900 crore. Revenue rose 32% y-o-y to INR 1,843 crore during the quarter on back of steady order inflows in the domestic and international markets. Furthermore, the company expects strong tendering and ordering momentum from the business for the next quarters of FY25.

Buildings & factories: The growth of this vertical was driven by strong orders and healthy mix of projects in Q1 with order inflows of INR 2,300 crores and additional L1 of over INR 1,000 crores till date in FY25. The company has improved its market position in large site EPC projects, securing a major industrial project and a prestigious high-end residential housing project this year.

Oil & gas: The revenue of the oil and gas business registered an 18% y-o-y growth to INR 254 crore in Q1FY'25. This improvement was attributed to better project progress in domestic business. The order book for the business stands at over INR 8,700 crore as of 30 June. The company has mobilised resources and started the design and engineering for the Aramco project, with progress expected to accelerate in the coming quarters.

Urban infra: The revenue of the business rose by 18% y-o-y to INR 180 crore in Q1. The growth was slightly below expectations mainly due to manpower shortage. The company is upgrading its urban infrastructure capabilities and execution bandwidth, expecting strong performance in the coming quarters.

Outlook and FY25 guidance

The company is targeting order inflows of INR 22,000-23,000 crore for FY25, with growth primarily driven by business the transmission and distribution and buildings and factories segments.