Shares of this small-cap stock jumped up to 8 percent today after bagging new orders worth over Rs 2,261 crores.
With a market capitalization of Rs 10,000 crores, the stocks of Kalpataru Projects International Limited (KPIL) currently trade at Rs 620. The scrip witnessed an intra-day high, also marked as the new 52-week high price, of Rs 649.40 indicating an increase of around 8 percent as compared to the previous closing levels of Rs 601.80 apiece.
The stock price movements are been observed after the company, through a regulatory filing with the BSE dated 27th July 2023, informed that it has received new orders worth Rs 2,261 crores.
Out of the above, the company’s Power Transmission & Distribution (T&D) segment received an order of Rs 2,036 crores in the overseas market, and the rest amount pertaining to a cross-country gas & oil pipeline project in India.
“The new orders in the T&D business have strengthened our order book and improved our market position in the international markets. The Oil & Gas business continues to strengthen its order book with a new order from a very reputed client. These orders will significantly contribute towards our targeted growth going forward.” commented Mr. Manish Mohnot, MD & CEO, KPIL.
Digging into the financials, the company, in recent quarters, the company has reported healthy growth as far as the operating revenues and net profits are concerned.
The operating revenues grew from Rs 4,004 crores during Q3FY22-23 to Rs 4,882 crores during Q4FY22-23, and the net profit figures, in congruence with the pattern, moved up from Rs 109 crores to Rs 140 crores representing an increase of around 30 percent.
Kalpataru Projects International Limited is a construction company with activities in the ‘power transmission’ and ‘infrastructure’ space. The company, broadly, has two operating units, i.e., the Engineering, Procurement and Construction (EPC) segment undertaking infrastructure projects such as civil construction, etc, and, the other one being the Developmental Project segment that consists of developing infrastructure projects.
Written by Amit Madnani
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