Kalpataru Power Q3 Review - Ordering Traction; Balance Sheet Improvement: Dolat Capital

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Dolat Capital Report

Kalpataru Power Transmission Ltd.’s sales for Q3 FY21 came in flat at Rs 19.9 billion, largely in line with our estimates, as sites became almost fully normal with majority of projects operating at pre-Covid-19 levels.

Ebitda margins were stable at 10.4%. The company has an order book of Rs 133 billion with a split of ~40% orders from oil and gas, urban infra and rail business.

The nine months order inflow for the company is Rs 63 billion with another level-one orders of Rs 31 billion, which makes it well on its targeted a full year order inflow of Rs 90-100 billion.

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