Kalpataru Projects International (KPIL) Q4 20/21 earnings summary

Executive summary

• Despite COVID-19 disruption, consolidated revenue rose 2% YoY to ₹12,949 crore; PAT increased to ₹662 crore, supported by operating execution and exceptional gains from asset sales.

• Year-end consolidated order book reached ₹27,900 crore; 46% of standalone revenue came from international markets.

Financial highlights

• Consolidated revenue was ₹12,949.44 crore versus ₹12,675.84 crore; PAT rose to ₹662.04 crore from ₹389.59 crore, including exceptional gains of ₹209.64 crore.

• Consolidated EBITDA was ₹1,477 crore; EBITDA margin 11.4% and PAT margin 5.1%.

• Standalone revenue declined 3% to ₹7,670.70 crore; PAT rose 33% to ₹615.22 crore, with core EBITDA of about ₹808 crore and a 10.5% margin.

• Standalone PBT before exceptional items was ₹663 crore versus ₹642 crore; reported PBT was ₹831 crore versus ₹666 crore.

• Consolidated operating cash flow was ₹931 crore; closing cash and cash equivalents were ₹537.53 crore.

Outlook and guidance

• FY22 recovery outlook remained subject to pandemic uncertainty, including effects from the second wave; plans focused on scaling operations, improving efficiency and growing revenue and profitability.

• The consolidated order book of ₹27,900 crore and standalone order book of ₹13,890 crore supported near-term execution visibility.

• Strategic priorities included profitable core EPC growth, expansion into higher-potential markets, selective bolt-on acquisitions, digital investment and project-margin discipline.