Kalpataru Projects International

Indicators

13 bullish · 6 neutral · 2 bearish

Verdict

Kalpataru Projects strengthens its balance sheet and margins while navigating seasonal order normalization.

Why

• •Consolidated net debt dropped sharply from ₹2,765 Cr in Q1 FY26 to ₹917 Cr in Q1 FY27, driven by aggressive debt repayment and lower finance costs.
• •Profitability remains resilient with consolidated PAT margin expanding from 3.5% to 4.9% and core EBITDA margin holding steady near 9%.
• •Transmission & Distribution leads the order book at ₹29,609 Cr, while the Water segment shows revenue recovery after a mid-year dip.
• •Order inflows and revenue execution moderated in Q1 FY27 compared to Q4 FY26 peaks, reflecting typical seasonal booking cycles in infrastructure.
• •Working capital management improved, with consolidated net working capital days reducing from 91 to 80 days over the period.

Signals