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Informist, Tuesday, Aug. 11, 2026

 

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--Kalpataru Projects: Q1 earnings grew despite early qtr labour shortage
--CONTEXT: Comments by Kalpataru Projects' mgmt in earnings investor call
--Kalpataru Projects: Q1 growth despite slower water segment receivables
--Kalpataru Projects: See strong momentum in oil, gas segment West Asia
--Kalpataru Projects:On track to meet FY27 order inflow aim of INR 300 bln
--Kalpataru Projects:West Asia oil and gas project tenders delayed as of now
--Kalpataru Projects: Expect to win major projects in W Asia next 3-6 mos
--Kalpataru Projects:Biggest focus on W Asia mkt for 1-2 yrs in oil, gas ops
--Kalpataru Projects: Not many tenders in urban infra segment last few mos
--Kalpataru Projects: "Might" raise FY27 order inflow guidance by Q2 end
--Kalpataru Projects: Steel price impact positive for company last 3 months
--Kalpataru Projects: Not investing any further capital in Shubham Logistics
 

 

By Rajesh Gajra and Eshitva Prakash

 

MUMBAI – Kalpataru Projects International Ltd. has bid for a number of tenders for oil and gas projects in the West Asian countries and is confident of winning a few large projects in the current financial year, a senior company official said during a post-earnings conference call with investors and analysts. However, the awarding of orders from the tenders "has been delayed" as of now, he said.

 

The company sees "huge opportunities for orders" in West Asia over the next 3-6 months, the official said. Kalpataru Projects operates in the power transmission and distribution and oil and gas segments in West Asia. The company expects traction in tenders in both these segments in the region over the next few months. The West Asian region accounted for 10% of the company's INR-666.07-billion order book as of Jun. 30, according to the company's investor presentation. 

 

The company expects strong momentum in oil and gas projects from the West Asia region. For its oil and gas segment operations, the region represents the biggest opportunity for the company for at least the next couple of years, "if not beyond," the official said.

 

Over the last three years, Kalpataru Projects has "delivered on one of the largest Saudi Aramco (Saudi Arabian Oil Company)," where it started "from zero," he said. The company is "now qualified" for oil and gas orders for large utilities in West Asia.

 

The company, which received order inflow of INR 76.68 billion in the June quarter across all its operating segments, is on track to meet the target of INR 300 billion for 2026-27 (Apr-Mar), a senior official said. Given the strong momentum in recent order inflows, the company might revise the FY27 order inflow guidance upwards by the end of the September quarter, he said. At present, "there are a lot of delays happening in some parts of the world in placing orders," he said.

 

Apart from power transmission and distribution and oil and gas segments, Kalpataru Projects has operations in many segments such as buildings and factories, water projects, urban infrastructure, and railways. In the urban infrastructure area, the company has handled projects such as elevated and underground metro trains, which involve tunnelling.

 

To a question whether Kalpataru Projects was open to urban infrastructure projects such as coastal roads, a senior official said the company would not be excited to take on plain, vanilla road projects. "Our road project portfolio is very, very minimal at a domestic level, and it is not one of our focus areas," he said.

 

The company may consider a road project only if it involves tunnel work, or works requiring high expertise or engineering, he said. In any case, the company has not seen many tenders in the urban infrastructure segment in the last few months, the official said.

 

To questions on warehousing subsidiary Shree Shubham Logistics Ltd., a senior official said the company is selling the subsidiary's assets to reduce internal debt, and this will continue for another two years. Kalpataru Projects' investment in this subsidiary, including equity and loans, is around INR 3.25 billion. Although this business is "doing reasonably well" and is "in a profitable zone today," the company is not going to invest any further capital in it, the official said.

 

On the June quarter earnings performance, the company said it was strong despite labour shortages at the start of the quarter, and slower collections from water segment receivables. Although input cost inflation was a factor weighing on profitability, the steel price movement "has been more positive than negative for us," the official said.

 

Kalpataru Projects announced its June quarter earnings Tuesday. The company's consolidated net profit rose 32% on year to INR 2.65 billion in the June quarter, on the back of a 9% revenue growth to INR 54.82 billion.

 

Tuesday, the company's shares ended at INR 1,347.70 on the National Stock Exchange, up 2.5% from the previous close.  End

 

Edited by Saji George Titus

 

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