Kalpataru Projects International (KPIL) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue reached a record ₹19,626 crore, up 20% YoY; EBITDA was ₹1,628 crore, with an 8.3% margin, and PAT rose 19% to ₹516 crore.

• The order book hit a record ₹58,415 crore, up 27% YoY, supported by ₹30,022 crore of order inflows, up 19%.

• FY25 targets: revenue growth above 20% and PBT margin of 4.5–5%; priorities include working-capital discipline and divesting non-core assets.

Financial highlights

• Consolidated revenue rose 20% to ₹19,626 crore; EBITDA increased 19% to ₹1,628 crore, with an 8.3% margin; PBT was ₹701 crore, up 27%.

• Consolidated PAT increased 19% to ₹516 crore; EPS was ₹31.37 versus ₹29.06 in FY23.

• Standalone revenue grew 17% to ₹16,760 crore; EBITDA was ₹1,366 crore, up 7%, while PAT was ₹533 crore, up 0.2%.

• Consolidated operating cash flow was ₹843 crore versus ₹656 crore in FY23; cash and cash equivalents closed at ₹1,010 crore.

Outlook and guidance

• FY25 revenue growth target is above 20%, with PBT margin guided at 4.5–5%.

• Priorities include maintaining strong order inflows, reducing working-capital days, improving profitability through efficiency and cost optimisation, and divesting non-core assets.

• T&D growth expectations are supported by domestic tenders exceeding ₹50,000 crore over the next 2–3 years and international capex opportunities; B&F expects double-digit FY25 growth.