KPTL Revenue Growth Of 7.0% Yoy (+9.6% Yoy Adjusted For The Impact Of Excise Duty)

KPTL Revenue Growth Of 7.0% Yoy (+9.6% Yoy Adjusted For The Impact Of Excise Duty)

Team EnergyInfraPost

Pointers: 

  • KPTL EBITDA MARGINS AT 10.9% IN Q2 FY18
  • KPTL NEW ORDER INFLOWS OF RS 757 CRORES; YTD RS 5,023 CRORES
  • JMC REVENUE GROWTH OF 24.2% YoY; EBITDA MARGIN REACHES DOUBLE DIGIT AT 10.0%; PAT GROWTH OF 109.5% YOY

Kalpataru Power Transmission Limited (KPTL), a leading global EPC player and its subsidiaries JMC Projects (India) Limited (JMC) and Shree Shubham Logistics Ltd. (SSL) have announced their results for the quarter ended September 30, 2017 

  • Revenue at Rs 1,223 Crores, growth of 7.0% YoY (growth of +9.6% adjusted for the impact of Excise Duty); Revenue growth in excess of 50.0% YoY in Railways and 24.0% YoY in the Pipeline business.
  • EBITDA margin at 10.9% for the quarter; first half EBITDA margin at 11.1%  
  • Finance cost reduction of 25.8% YoY in Q2 FY18
  • PBT margin at 8.7% for the quarter
  • Order book of Rs 9,620 Crores as on September 30, 2017 (excluding orders received in October and November 2017)

JMC Standalone financial result highlights

  • Revenue at Rs 659 Crores (+ 24% YoY) as a result of improved project execution
  • EBITDA margin at 10.0% and PBT margin at 5.1% for Q2 FY18
  • PAT increased by 109.5% YoY in Q2 FY18; first half PAT growth of 100.0% YoY
  • Order book of Rs 6,569 Crores as on September 30, 2017.

SSL Standalone financial result highlights

  • Revenue growth of 82.4% YoY; Warehouse utilization improved to 70%
  • EBITDA at Rs 7.0 Crores, EBITDA margin at 40.1%, a sequential improvement over previous quarters.
  • PBT negative but there are clear signs of visible improvement.
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New orders

KPTL has secured new orders / notification of award of Rs 757 Crores. The details are as follows:

  • Orders totaling Rs 245 Crores for Substations and Transmission line in the West Africa.
  • An order for 220kV Transmission line in Afghanistan for Rs 97 Crores
  • Railway Electrification order of Rs 387 Crores for Satara (excl.) – Miraj (incl.) – Kolhapur Section of Central Railway from PGCIL.
  • An order for mechanical works of Rs 28 Crores for refinery project 

JMC has secured new orders / notification of award of Rs 451 Crores. The details are as follows:

  • Two residential projects in West and South India totaling Rs 342 Crores
  • An order for construction of academic block from an educational institute of Rs 40 Crore
  • An order for civil works for a coal handling plant of Rs 69 Crores 

Management Comments

Mr Manish Mohnot, Managing Director & CEO – KPTL commented:  The first half revenue at KPTL was temporarily impacted due to GST related factors. We expect to deliver on our projected growth in excess of 15% for full year. We are also confident of achieving our order inflow targets in the range of Rs 7,500 Crores to Rs 8,000 Crores for the current year at KPTL.

At JMC, we have delivered on our projections with revenue growth of 22% and an EBITDA margins of 9.9% in the first half, with a good visibility of order pipeline.” 

About Kalpataru Power Transmission Limited (KPTL)

KPTL is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission and distribution, oil and gas pipeline, railways, other infrastructure development, civil contracting and warehousing and logistics business with a strong international presence. The company is currently executing several contracts in India, Africa, Middle East, CIS, SAARC and Far East.

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About JMC Projects (India) Limited (JMC)

JMC, a subsidiary of Kalpataru Power Transmission Limited, is India’s leading contracting company. With its strong focus on customer satisfaction, project management and execution capabilities, JMC has emerged as one of the leading civil EPC Company. JMC’s capabilities span the entire gamut of construction – civil & structural, mechanical, electrical and fire-fighting engineering for all major industries and project types.

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