Kalpataru Projects Q4 Profit Up 21% to Rs 169 Cr, Declares 400% Dividend

New Delhi, May 8 (PTI) Kalpataru Projects International on Wednesday posted about 21 per cent rise in its consolidated net profit to Rs 169 crore for the March quarter, mainly on the back of higher revenues.

Its consolidated profit was Rs 140 crore in the year-ago quarter, a BSE filing showed.

The total income of the company rose to Rs 5,991 crore in the fourth quarter from Rs 4,896 crore a year ago.

For the fiscal 2023-24, its consolidated net profit rose to Rs 516 crore from Rs 435 crore in the year-ago period.

In FY24, its total income increased to Rs 19,690 crore from Rs 16,401 crore in 2022-23.

The company's board also recommended a final dividend of Rs 8 per equity share of the face value of Rs 2 each (ie 400 per cent) for the financial year ended March 2024, subject to approval by shareholders at the ensuing annual general meeting (AGM).

The company will inform, in due course, the date on which it will hold the AGM for the year ended March 2024 and the date from which the dividend will be paid.

The board also approved the subscription to the Rights issue of Shree Shubham Logistics Limited (SSL), a wholly-owned subsidiary of the company for an amount not exceeding Rs 100 crore, which would be utilised by SSL for repayment of a loan granted by KPIL; and taken note of retirement of Gyan Prakash, President (Oil & Gas), ceasing to be Senior Management Personnel of the company.

KPIL MD and CEO Manish Mohnot said, "We have delivered a robust performance, marking the highest ever consolidated revenue, EBITDA and order book in our history, reaching Rs 19,626 crore, Rs 1,628 crore and Rs 58,415 crore, respectively".

This achievement, coupled with our commitment to pursue profitable growth and efficiently manage our working capital, ensured we deliver stable margins, maintain a prudent debt level and improve the working capital cycle, underscoring our efficiency and agility, he noted.

Simultaneously, he said that we have made strategic inroads in numerous large-size orders for oil & gas, underground metro tunnelling, airports, data centres, design-build B&F projects and T&D projects in both domestic and international markets.

This is a testament to our consistent focus on strengthening execution capabilities, building a diversified and resilient business mix and improving our market position in high-growth EPC businesses, he stated.

"As we move forward, we will continue to strengthen our position in the T&D and civil construction sector, given the huge impetus on renewable energy and infrastructure development in India and globally. Our strong order book and diversified business mix gives us confidence to sustain growth momentum in FY25 and beyond," he added.

The company received new orders of Rs 849 crore till date in FY25.

It had won total orders worth Rs 30,022 crore in FY24, up 19 per cent year-on-year.

Its total order book stands at Rs 58,415 crore as of March 31, 2024.