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Informist, Monday, Aug. 10, 2026

 

By Vidhi Thacker

 

MUMBAI – Kalpataru Projects International Ltd. is expected to post stable on-year growth in its net profit for the June quarter due to good momentum in project awards, non-road construction orders, and low interest cost, according to brokerages tracking the company. The company's revenue growth for the quarter is likely to be supported by non-transmission and distribution segments of its business.

 

Kalpataru Projects is expected to report a standalone net profit of INR 2.2 billion for the June quarter, up nearly 10% on year but down 60% sequentially, according to the average of estimates from seven brokerages. The highest estimate for the company's net profit is INR 2.50 billion from 360 ONE Capital Market Pvt. Ltd. and the lowest is INR 1.99 billion from Anand Rathi Share and Stock Brokers Ltd. The company had reported a net profit of INR 2 billion in the year-ago quarter.

 

The engineering and construction company's revenue is expected to rise 17% on year to INR 59 billion for the June quarter, according to the estimates. The highest estimate for the company's revenue is INR 67 billion from Axis Securities Ltd. and the lowest is INR 53 billion from Kotak Securities Ltd. The company had reported revenues of INR 50.4 billion in the year-ago quarter.

 

Kalpataru's earnings are expected to benefit from growth in its non-road orders and project order inflows of INR 49 billion in the June quarter, Axis Securities said. However, the earnings for the June quarter are likely to get affected by low execution due to a shortage of labour and the prolonged war in West Asia, brokerages said. International orders make up 39% of the company's order book.

 

Order inflows for the June quarter are expected to be weak for the company's transmission and distribution and buildings segments due to supply-chain disruptions, high commodity prices, and higher transportation cost caused by the war in West Asia, brokerages said.

 

Kalpataru's earnings before interest, tax, depreciation, and amortisation are expected at INR 5 billion for the June quarter, up 15% on year from INR 4.3 billion in the year-ago quarter, according to the average of five estimates. The highest estimate for the company's EBITDA is INR 5.6 billion from Nuvama Wealth Management Ltd. and the lowest is INR 4.5 billion from Kotak. Brokerages expect the company's EBITDA margin to remain flat at around 8%.

 

Kalpataru Projects is a diversified engineering and construction company. Its order book was INR 658 billion as of Mar 31. The company will detail its June quarter earnings Tuesday. Investors will monitor the company's order book momentum, collection in water business, and net working capital, Prabhudas Lilladher Pvt. Ltd. said.

 

Monday, shares of the company closed at INR 1,315.40 on the National Stock Exchange, down marginally. The stock is up nearly 5% since the company reported its March quarter earnings on May 14.

 

All the 11 brokerage reports on the company available with Informist, have a "buy" recommendation on the stock, with an average target price of INR 1,538, which is 17% higher from the closing price on Monday.

 

Following are the Apr-Jun earnings estimates for Kalpataru Projects from seven brokerages in a descending order of net profit, in INR billion:

 

Brokerages	Net Sales	Net Profit	EBITDA
360 ONE Capital Market Pvt. Ltd.	67	2.4	--
Nuvama Wealth Management Ltd.	66	2.4	6
Axis Securities Ltd.	67	2.3	5.4
Prabhudas Lilladher Pvt. Ltd.	53	2.1	5
JM Financial Institutional Securities Pvt. Ltd.	53	2.1	5
Kotak Securities Ltd.	53	2.1	4.4
Anand Rathi Share and Stock Brokers Ltd.	54	2	--
Averages	59	2.2	5

 

End

 

Edited by Pankaj Aher

 

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