Q1 2025 Kalpataru Projects International Ltd Earnings Call Transcript
Key Points
- Consolidated revenues increased by 8.2% to INR 4,587 crores, with strong double-digit growth in four out of six business segments.
- Order inflows, including L1 positions, reached around INR 12,000 crores in the first four months of FY25.
- The T&D business reported a strong growth of 32% YoY, driven by a solid order backlog in domestic and international markets.
- The B&F business grew by 23% YoY, supported by a strong order backlog and a healthy mix of projects.
- The company expects margins to improve going forward, with PBT margins targeted at 4.5% to 5% for FY25.
- The water business reported a decline of 22% in revenue due to delays in collections from state utilities and manpower shortages.
- The company faced increased finance costs due to higher working capital intensity and an unrealized forex loss of approximately INR 17 crores.
- Net debt at the standalone level stands at INR 2,907 crores, with a commitment to reduce net working capital days from 124 to below 100 by the end of FY25.
- The railway sector saw a decrease in revenue to INR 240 crores, reflecting intense competition and a focus on project completion.
- The company had to provide an additional INR 30 crores in warranty guarantee provisions, impacting EBITDA margins.
Ladies and gentlemen, good day, and welcome to the Kalpataru Power Transmission Limited, Q1 FY25 earnings conference call hosted by DAM Capital Advisors Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms, Bhoomika Nair from DAM Capital Advisors Limited. Thank you and over to you, ma'am.
Thanks, Steve. Good morning, everyone. Warm welcome to Kalpataru Project International Limited Q1 FY25 earnings call. We have with us from the management, Mr. Manish Mohnot, Managing Director and CEO; Mr. S. K. Tripathi, Deputy Managing Director; Mr. Sanjay Dalmia, Executive Director; Mr. Amit Uplenchwar, Director, Group Strategy; and Mr. Ram Patodia, President, Finance and CFO.
At this point, I'll hand over the floor to Mr. Mohnot for his initial remarks, post which we'll open up the floor for Q&A. Thank you and over to you, sir.
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