Consolidated net sales has increased 16% to Rs 4086 crore.  Operating profit margin stood flat at 11.1%, leading to 16% rise in operating profit to Rs 455.00 crore.  Other income rose 38% to Rs 18 crore.  Provision for interest fell 30% to Rs 96 crore.  Provision for depreciation fell 11% to Rs 84 crore.  Profit before tax grew 70% to Rs 293.00 crore.  Share of profit/loss was 100% lower at Rs -10 crore.  EO expense was nil compared to Rs 72 crore in the corresponding previous period. Thus PBT after EO was 198% to Rs 283 crore. Provision for tax was expense of Rs 96.00 crore, compared to Rs 82.00 crore.  Thus PAT was Rs 187 crore compared to mere Rs 13 crore in corresponding previous period.

• Sales of Development Projects segment has gone up 40.00% to Rs 98.00 crore (accounting for 2.40% of total sales).  Sales of EPC segment has gone up 15.44% to Rs 3,947.00 crore (accounting for 96.67% of total sales).  Sales of Others segment has gone down 5.00% to Rs 38.00 crore (accounting for 0.93% of total sales).  Inter-segment sales came down from Rs 2.00 crore to Rs -3.00 crore.  
• Profit before interest, tax and other unallocable items (PBIT) has jumped 65.50% to Rs 379.00 crore.  PBIT of Development Projects segment rose 114.29% to Rs 45.00 crore (accounting for 11.87% of total PBIT).  PBIT of EPC segment rose 59.42% to Rs 330.00 crore (accounting for 87.07% of total PBIT).  PBIT of Others segment rose 300.00% to Rs 4.00 crore (accounting for 1.06% of total PBIT).  
• PBIT margin of Development Projects segment rose from 30.00% to 45.92%.  PBIT margin of EPC segment rose from 6.05% to 8.36%.  PBIT margin of Others segment rose from 2.50% to 10.53%.  Overall PBIT margin rose from 6.49% to 9.28%.  

Yearly performance

Standalone net sales (including other operating income) has declined 3% to Rs 7671.00 crore.  Operating profit margin has fallen from 10.9% to 10.5%, leading to 6% fall in operating profit to Rs 808.00 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 41.80% to 36.26%.   Employee cost increased from 6.60% to 7.20%.   Other expenses rose from 40.80% to 45.98%.   Cost of Sales fell from 74.10% to 72.44%.      Other income up 36% to Rs 79 crore.  Provision for interest fell 34% to Rs 109 crore.  Provision for depreciation rose 5% to Rs 115 crore.  Profit before tax grew 3% to Rs 663.00 crore.  Extraordinary items were an expense of Rs 168.00 crore, a jump of 600%.  Thus PBT after EO was up 25% to Rs 831 crore. Provision for tax was expense of Rs 216 crore, compared to Rs 203 crore. Profit after tax rose 33% to Rs 615.00 crore.  

Consolidated net sales (including other operating income) has increased 2% to Rs 12949 crore.  Operating profit margin has slumped from 12.3% to 11.7%, leading to 3% decline in operating profit to Rs 1509.00 crore.  Other income rose 52% to Rs 67 crore.  Provision for interest fell 16% to Rs 436 crore.  Provision for depreciation rose 10% to Rs 373 crore.  Profit before tax grew 3% to Rs 767.00 crore.  Share of profit/loss was 39% lower at Rs -32 crore.  Extraordinary items was an income of Rs 210.00 crore compared to an expense of Rs 75 crore in the corresponding previous period.  Thus the PBT after EO was up 46% to Rs 945 crore. Provision for tax was expense of Rs 283.00 crore, compared to Rs 258.00 crore.  PAT was up 70% to Rs 662 crore. Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 70% to Rs 662 crore.  

• Sales of Development Projects segment has gone up 7.54% to Rs 371.00 crore (accounting for 2.87% of total sales).  Sales of EPC segment has gone up 1.88% to Rs 12,424.00 crore (accounting for 95.96% of total sales).  Sales of Others segment has gone up 7.04% to Rs 152.00 crore (accounting for 1.17% of total sales).  Inter-segment sales came down from Rs 6.00 crore to Rs -2.00 crore.  
• Profit before interest, tax and other unallocable items (PBIT) has jumped 19.64% to Rs 1,383.00 crore.  PBIT of Development Projects segment rose 33.59% to Rs 175.00 crore (accounting for 12.65% of total PBIT).  PBIT of EPC segment rose 17.10% to Rs 1,171.00 crore (accounting for 84.67% of total PBIT).  PBIT of Others segment rose 48.00% to Rs 37.00 crore (accounting for 2.68% of total PBIT).  
• PBIT margin of Development Projects segment rose from 37.97% to 47.17%.  PBIT margin of EPC segment rose from 8.20% to 9.43%.  PBIT margin of others segment rose from 17.61% to 24.34%.  Overall PBIT margin rose from 9.12% to 10.68%.  

Order book

Received total orders of Rs 8443 crores in FY20-21 of which 74% is T&D, 13% each by Oil & Gas and railways. Of the order inflow for the fiscal about 51% is international and 49% is domestic.

Standalone order book of KPTL was at Rs 13,980 crores (59% T&D, 17% railways, 24% O&G) as on 31st March 2021 with L1 orders of Rs 1300 crores. Consolidated Order Book as on 31st March 2021 stood at of Rs 27900 crores; L1 of Rs.2,300 crores.

Other developments

The board of directors of KPTL have recommended a dividend of Rs.1.5 per share.

Promoters' stake was 56.49% as of 31 March 2021,compared to 54.37% as of 31 March 2020.  Promoters pledged stake was 50.80% as of 31 March 2021,compared to 57.50% as of 31 March 2020.  

Kalpataru Power DO Brasil Participacoes Ltd ("KPBPL"), wholly owned subsidiary of the Company has signed definitive agreement(s) on 5th February 2021 to acquire controlling stake of 51% in Fasttel Engenharia Ltda.,Brazil ("Fasttel"). KPBPL completed the acquisition of 51 % stake along with management control on 7th April, 2021.

Management Comment

Commenting on the results, Manish Mohnot, MD & CEO, KPTL said: "I am very pleased with our performance and particularly very proud of our employees for their relentless focus and commitment displayed during such testing times. Despite the disruptions, we continue to execute projects globally with broad-based momentum across all our businesses. Our priority remains for health and wellness of all our employees and their families. We continue to ensure stringent health and hygiene protocols at all our sites and offices for safety of our employees and customers. We have adequately supported all our employees during health issues, for medical counselling and due assistance to avail appropriate healthcare facilities. The year 2020-21 was a challenging year for our business given the pandemic and mounting commodity pricing pressure. However, we have emerged stronger than ever before and have delivered a resilient performance backed by steady revenues, healthy profitability, reduced debt levels, strong order booking, favourable progress on divestment of long-term assets and scaling-up our international business. Despite pandemic, we completed transfer of two of our T&D BOOT assets, completed acquisition of Fasttel (Brazil) and have made considerable progress on restructuring of Road BOOT assets. In-line with our capital allocation strategy, the company completed the share buyback program of Rs.176 Crores and paid dividend Rs.10 per share (including the final dividend of Rs.1.5 per share) thereby creating value for our shareholders in FY21. We will continue to focus on our core business with a clear strategy to establish leadership position across all our businesses and pursue rapid growth in our international business. We remain committed to significantly reduce our debt levels, drive profitable growth and improve our returns ratio thereby laying strong foundation for long-term value creation."