Q2 2025 Kalpataru Projects International Ltd Earnings Call Transcript
Key Points
- Kalpataru Projects International Ltd (BOM:522287) reported a significant year-on-year growth of over 20% in its AMD, building and factories, oil and gas, and urban infrastructure businesses for the first half of FY25.
- The company secured record order inflows of INR11,865 crores, with nearly 90% from T&D and B&F businesses, strengthening its market position.
- Consolidated EBITDA margins improved by 70 basis points year-on-year to 8.9% for Q2 FY25, driven by robust execution and a healthy project mix.
- The company's consolidated net debt declined to INR3,668 crores in September 2024, showing improved financial management.
- Kalpataru Projects International Ltd (BOM:522287) has a strong order book of INR60,631 crores as of September 2024, providing good visibility for future growth.
- The water business experienced a 43% year-on-year revenue drop in Q2 FY25 due to delays in collections, impacting execution and project progress.
- The railways business saw a 40% decline in revenues for Q2 FY25, with the company adopting a cautious approach due to intense competition.
- The company faces challenges in the water business, with significant outstanding collections in some states, affecting overall performance.
- Despite a strong order book, the company may not achieve its initial revenue growth target for FY25 due to challenges in the water business.
- The finance costs increased sequentially despite a reduction in debt levels, attributed to higher borrowing in the initial months of the quarter and increased customer advances.
Ladies and gentlemen, good day, and welcome to the Kalpataru Projects International Q2 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.
Yes. Thanks, Steve. Good morning, everyone. A warm welcome to the Q2 FY25 Earnings Call of Kalpataru Projects International Limited. We have the management today being represented by 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, Project -- 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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