• Sales of Infrastructure segment has gone up 50.00% to Rs 57.00 crore (accounting for 1.55% of total sales).  Sales of Construction segment has gone up 14.74% to Rs 3,589.00 crore (accounting for 97.58% of total sales).  Sales of Others segment has gone down 17.95% to Rs 32.00 crore (accounting for 0.87% of total sales).  Inter-segment sales came down from Rs 1.00 crore to Rs -1.00 crore.  
• Profit before interest, tax and other unallocable items (PBIT) has slumped 2.67% to Rs 219.00 crore.  PBIT of Infrastructure segment fell 26.67% to Rs 11.00 crore (accounting for 5.02% of total PBIT).  PBIT of Construction segment rose 6.93% to Rs 216.00 crore (accounting for 98.63% of total PBIT).  PBIT of Others reported loss of Rs 8.00 crore compared to profit of Rs 8.00 crore.  
• PBIT margin of Infrastructure segment fell from 39.47% to 19.30%.  PBIT margin of Construction segment fell from 6.46% to 6.02%.  PBIT margin of Others segment fell from 20.51% to 25.00%.  Overall PBIT margin fell from 7.02% to 5.95%.  

Standalone net sales (including other operating income) of Kalpataru Power Transmission for the quarter ended Jun 2022 has declined 2.77% to Rs 1,542.00 crore.  Operating profit margin has declined from 10.21% to 8.43%, leading to 19.75% decline in operating profit to Rs 130.00 crore.  Other income up 342.86% to Rs 62 crore.  PBIDT rose 9.09% to Rs 192 crore.  Provision for interest fell 17.65% to Rs 28 crore.  PBDT rose 15.49% to Rs 164 crore.  Provision for depreciation down 3.85% to Rs 25 crore.  Profit before tax grew 19.83% to Rs 139.00 crore.  Provision for tax was expense of Rs 26 crore, compared to Rs 40 crore.  Effective tax rate was 18.71% compared to 34.48%. Profit after tax rose 48.68% to Rs 113.00 crore. 

Order book

Consolidated order book as end of Jun 30, 2022 stood  at Rs 36880 crore (up 13%QoQ). Secured consolidated orders of ?7,952 Crores in Q1FY23. Additionally it was L1 of around ?7,000 Crores (?4,200 Crores in KPTL and ?2,800 Crores in JMC).

Order book of KPTL as end of Jun 30, 2022 stood at ? 17,570 crores. Order book of JMC as end of Jun 30, 2022 stood  at ? 19,448 crores. 

Management Comments 

Commenting on the results,  Manish Mohnot, MD & CEO, KPTL said: “We have started the financial year on a good note with strong traction across all our businesses. We have delivered robust growth in consolidated revenue and PAT. We have maintained heathy EBITDA margin of 8.6% in Q1FY23. We are seeing margin pressure beginning to ease off during the current quarter with softening of commodity prices and we hope this reversal trend in inflated prices to continue. Our consolidated order inflows till date in FY23 is at ? 7,952 Crores and additionally we are L1 in orders of around ? 7,000 Crores. This gives us good visibility to achieve the targeted growth going forward. Furthermore, we have made foray in high growth infrastructure businesses like elevated metro rail structures, airport, metro rail electrification and data centres, there by strengthening our market position in the EPC market. We continue to make progress on our key strategic priorities – Growth in core EPC Business, International Expansion, Further Strengthening of Balance sheet and Divestment of Non-core Businesses/ Assets. We are optimistic about business visibility across all our businesses and the company’s robust competitive and financial position in the sector.”

Other developments

Promoters’ stake was 51.55% as of 30 June 2022 ,compared to 54.55% as of 30 June 2021 .  Promoters pledged stake was 52.03% as of 30 June 2022 ,compared to 45.91% as of 30 June 2021 .