Kalpataru Projects International Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹23,181 Cr
- P/E
- 20.86
- ROE
- 13.70%
- PEG
- 0.59
- Price to sales
- 0.84
- Debt to equity
- 0.46
- 52W high / low
- ₹1,458 / ₹1,018
- Sales growth (5Y)
- 15.95%
- EBITDA margin
- 8.32%
- Net profit margin
- 3.57%
- Promoter holding
- 33.58%
- Sales (last year)
- ₹27,380 Cr
Kalpataru Power Transmission Ltd is a global EPC player with diversified interest in power transmission and distribution, oil and gas pipeline, railways and biomass based power generation.[1]
Guidance scorecard · Q1 FY27 call
What Kalpataru Projects International Ltd's management guided
and where it ranks in Construction
Construction
RevenueQ1 FY27 call
10–20%- The company targets at least 15% annualized revenue growth for FY27 and beyond.
- Growth drivers include international expansion in Water, Urban Infra, Oil & Gas, and Transmission & Distribution (T&D).
- A strong order book visibility of about 2.5 years supports sustained growth.
- Order inflow guidance maintained at INR 30,000 crores; potential upward revision after Q2.
- Expansion focused on high-value, complex, and margin-accretive projects.
- Backward integration initiatives (e.g., rolling mill in Raipur) aim to improve margins and support growth.
- Strong demand in domestic T&D with anticipated INR 1 lakh crores+ annual order releases over the next 5 years.
2 more points from Kalpataru Projects International Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Kalpataru Projects International Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Kalpataru Projects International Limited has invested close to INR 2,500 - 3,000 crores in capex over the last 4 years, supporting project delivery and growth.
- For the current year (FY27), the company targets capex of approximately INR 800 crores, with potential to exceed this amount.
- They are continuously exploring backward integration opportunities within their value chain to boost growth and improve profitability.
- A rolling mill is being set up in Raipur as part of backward integration efforts.
- Strategic capex and capability building are ongoing in Oil & Gas (process plants, stations, pipelines), Urban Infra (metro projects), and international expansion.
2 more points from Kalpataru Projects International Ltd's call on capex
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FundraisingQ1 FY27 call
None plannedSee what Kalpataru Projects International Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Jal Jeevan Mission pending order book: Close to INR 4,000 crores, with a significant portion expected to be delivered in the current year.
- Billed plus unbilled receivables on Water side: Around INR 1,500+ crores, improved compared to the previous year.
- Buildings & Factories order book as of June 30, 2026: Over INR 19,600 crores, with record orders worth more than INR 2,800 crores in FY27 YTD and L1 amount of INR 2,200 crores.
- LMG Sweden total order backlog: Around INR 4,200 crores as of June 30, 2026.
2 more points from Kalpataru Projects International Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Construction
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Construction companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,531 Cr | 11.7 | |
| 2 | 40%+ | Flat | ₹1,089 Cr | 9.3 | |
| 3 | 40%+ | Flat | ₹898 Cr | 7.6 | |
| 4 | 40%+ | Flat | ₹807 Cr | 14.7 | |
| 5 | 40%+ | Flat | ₹554 Cr | 13.1 | |
| 6 | 40%+ | Flat | ₹516 Cr | 30.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Construction rankingKalpataru Projects International Ltd announcements
All announcements →- Order winNotableKalpataru Projects International Ltd announces new order wins worth ₹2,349 crores
- Order winNotableKalpataru Projects International Ltd announces ₹2,225 crore new order wins
- Order winNotableKPIL receives Letter of Award for UAE gas pipeline EPC; order estimated over ₹4,000 crore
- Order winNotableKalpataru Projects International Limited announces new order wins worth ₹2,025 crore
Financials of Kalpataru Projects International Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Kalpataru Projects International Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 4,882 | 4,241 | 4,518 | 4,896 | 5,971 | 4,587 | 4,930 | 5,732 | 7,067 | 6,171 | 6,529 | 6,665 | 7,778 |
| Expenses + | 4,550 | 3,859 | 4,148 | 4,472 | 5,519 | 4,208 | 4,492 | 5,253 | 6,529 | 5,646 | 5,967 | 6,152 | 7,138 |
| Operating Profit | 332 | 382 | 371 | 424 | 452 | 379 | 438 | 479 | 538 | 525 | 561 | 513 | 640 |
| OPM % | 7% | 9% | 8% | 9% | 8% | 8% | 9% | 8% | 8% | 9% | 9% | 8% | 8% |
| Other Income + | 122 | 18 | 12 | 14 | 20 | 22 | 17 | 10 | 13 | 16 | 23 | -1 | 103 |
| Interest | 132 | 115 | 137 | 124 | 142 | 144 | 150 | 164 | 118 | 122 | 137 | 137 | 105 |
| Depreciation | 110 | 120 | 113 | 121 | 119 | 119 | 117 | 123 | 138 | 129 | 126 | 128 | 127 |
| Profit before tax | 212 | 165 | 132 | 193 | 211 | 137 | 188 | 202 | 296 | 290 | 322 | 247 | 511 |
| Tax % | 34% | 32% | 32% | 25% | 20% | 39% | 33% | 31% | 26% | 26% | 26% | 40% | 16% |
| Net Profit + | 140 | 113 | 90 | 144 | 169 | 84 | 126 | 140 | 218 | 214 | 237 | 149 | 431 |
| EPS in Rs | 9.60 | 7.08 | 5.47 | 8.68 | 10.12 | 5.71 | 7.73 | 8.31 | 13.20 | 12.51 | 14.06 | 8.91 | 25.43 |
Financials of Kalpataru Projects International Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 7,152 | 7,142 | 7,446 | 8,709 | 10,840 | 12,676 | 12,949 | 14,777 | 16,361 | 19,626 | 22,316 | 27,143 |
| Expenses + | 6,412 | 6,305 | 6,525 | 7,609 | 9,426 | 11,133 | 11,376 | 13,482 | 14,872 | 17,812 | 20,285 | 24,903 |
| Operating Profit | 740 | 838 | 921 | 1,100 | 1,414 | 1,543 | 1,574 | 1,295 | 1,490 | 1,814 | 2,031 | 2,240 |
| OPM % | 10% | 12% | 12% | 13% | 13% | 12% | 12% | 9% | 9% | 9% | 9% | 8% |
| Other Income + | 25 | -18 | 24 | 25 | 44 | 48 | 277 | 274 | 165 | 64 | 62 | 141 |
| Interest | 373 | 462 | 469 | 473 | 486 | 603 | 532 | 522 | 621 | 704 | 774 | 501 |
| Depreciation | 168 | 186 | 181 | 192 | 211 | 340 | 373 | 351 | 392 | 473 | 497 | 510 |
| Profit before tax | 224 | 171 | 295 | 461 | 761 | 648 | 945 | 696 | 642 | 701 | 823 | 1,371 |
| Tax % | 48% | 56% | 47% | 40% | 36% | 40% | 30% | 23% | 32% | 26% | 31% | 25% |
| Net Profit + | 115 | 76 | 157 | 278 | 487 | 390 | 662 | 535 | 435 | 516 | 567 | 1,031 |
| EPS in Rs | 7.84 | 7.17 | 12.15 | 18.29 | 30.41 | 25.18 | 45.06 | 36.28 | 27.13 | 31.37 | 34.30 | 60.90 |
| Dividend Payout % | 19% | 21% | 16% | 14% | 10% | 14% | 22% | 18% | 26% | 26% | 26% | 18% |
Financials of Kalpataru Projects International Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31 | 31 | 31 | 31 | 31 | 31 | 30 | 30 | 32 | 32 | 34 | 34 |
| Reserves | 2,186 | 2,217 | 2,391 | 2,643 | 3,089 | 3,327 | 3,709 | 4,249 | 4,688 | 5,106 | 6,479 | 7,742 |
| Borrowings + | 3,684 | 2,922 | 2,849 | 3,319 | 2,610 | 3,296 | 3,260 | 3,838 | 3,786 | 4,008 | 4,314 | 3,543 |
| Other Liabilities + | 3,050 | 4,315 | 4,947 | 6,393 | 8,406 | 9,086 | 8,323 | 8,999 | 11,014 | 12,868 | 14,746 | 16,394 |
| Total Liabilities | 8,951 | 9,485 | 10,218 | 12,385 | 14,135 | 15,741 | 15,321 | 17,116 | 19,521 | 22,014 | 25,573 | 27,713 |
| Fixed Assets + | 3,204 | 3,081 | 3,061 | 3,062 | 3,141 | 3,444 | 3,472 | 3,559 | 3,124 | 3,073 | 3,252 | 3,148 |
| CWIP | 398 | 27 | 117 | 724 | 16 | 54 | 34 | 25 | 52 | 33 | 29 | 64 |
| Investments | 11 | 63 | 45 | 51 | 1 | 1 | 1 | 5 | 5 | 0 | 150 | 2 |
| Other Assets + | 5,338 | 6,313 | 6,995 | 8,549 | 10,977 | 12,241 | 11,814 | 13,528 | 16,339 | 18,908 | 22,142 | 24,499 |
| Total Assets | 8,951 | 9,485 | 10,218 | 12,385 | 14,135 | 15,741 | 15,321 | 17,116 | 19,521 | 22,014 | 25,573 | 27,713 |
Financials of Kalpataru Projects International Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 72 | 1,104 | 766 | 650 | 1,035 | 937 | 931 | 714 | 656 | 843 | 914 | 1,534 |
| Cash from Investing Activity + | -605 | -387 | -235 | -699 | -835 | -713 | -6 | -214 | -323 | -266 | -718 | -0 |
| Cash from Financing Activity + | 550 | -726 | -439 | 66 | -219 | 40 | -897 | 25 | -438 | -524 | 400 | -1,636 |
| Net Cash Flow | 18 | -9 | 93 | 17 | -19 | 265 | 29 | 524 | -104 | 53 | 595 | -102 |
| Free Cash Flow | -504 | 742 | 542 | -3 | 330 | 474 | 696 | 452 | -63 | 524 | 402 | 840 |
| CFO/OP | 22% | 149% | 97% | 75% | 94% | 78% | 75% | 75% | 59% | 62% | 58% | 86% |
Financials of Kalpataru Projects International Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 114 | 149 | 166 | 166 | 142 | 133 | 141 | 113 | 117 | 108 | 128 | 113 |
| Inventory Days | 152 | 113 | 116 | 97 | 91 | 84 | 82 | 62 | 64 | 60 | 61 | 69 |
| Days Payable | 245 | 277 | 289 | 267 | 265 | 239 | 287 | 241 | 257 | 260 | 280 | 276 |
| Cash Conversion Cycle | 21 | -15 | -7 | -5 | -32 | -22 | -63 | -66 | -75 | -92 | -92 | -94 |
| Working Capital Days | 59 | 57 | 67 | 68 | 76 | 84 | 67 | 54 | 47 | 46 | 43 | 38 |
| ROCE % | 11% | 11% | 14% | 16% | 21% | 20% | 18% | 13% | 14% | 16% | 16% | 17% |
Guidance history
How Kalpataru Projects International Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 0–2% | Planned | None planned | Rising |
| Q4 FY26 call → | 10–20% | Up 0–2% | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Up 0–2% | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
67 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +7.8% | 67% |
| Last 6 months | +8.5% | 65% |
| Last 3 months | +5.8% | 73% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Kalpataru Projects International Ltd: 0.4 × 67 + 0.4 × 65 + 0.2 × 73 = 67.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Kalpataru Projects International Ltd's management said in earlier quarters
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