The growth in revenue was led by robust execution and healthy order book in T&D, B&F and Water businesses.

While core EBITDA improved by 6% YoY to Rs 370 crore during the quarter, core EBITDA margin declined by 8.2% in Q2 FY24 from 9.2% in Q2 FY23. The decline in margins was due to change in project mix and lower profitability in international subsidiaries.

Profit before tax in Q2 FY24 stood at Rs 132 crore, down by 8% from Rs 144 crore recorded in Q2 FY23.

The company said that it has received new orders (including international subsidiaries) of Rs 1,562 crore in month of Oct-23 and Nov-23 till date; YTD FY24 order inflows has reached Rs 12,178 crore.

Order book at Rs 47,040 crore as on 30 September 2023, an increase of 22% YoY; additional L1 position of over Rs 4,200 crore.

Manish Mohnot, MD & CEO, KPIL said: “We have delivered another quarter of good performance driven by robust execution and strong order inflows in our major business verticals.

As we move into the latter half of FY24, we believe a favourable shift in the business environment especially in the T&D and select civil business verticals will help us to strengthen our position further in the EPC market.

We continue to drive growth and create differentiation by strengthening our capabilities organically and through strategic business development in newer areas like data centres, airports, heavy civil, design build B&F projects, industrial projects and manufacturing expansion.”

Kalpataru Projects International (KPIL) is one of the largest specialized EPC companies engaged in power transmission & distribution, buildings & factories, water supply & irrigation, railways, oil & gas pipelines, urban mobility (flyovers & metro rail), highways and airports. KPIL is currently executing projects in over 30 countries and has a global footprint in 73 countries.