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Swing Capital

Kalpataru Projects International Ltd

NSE: KPIL BSE: 522287Energy

Kalpataru Power Transmission Ltd is a global EPC player with diversified interest in power transmission and distribution, oil and gas pipeline, railways and biomass based power generation.[1]

₹1,238
52W: ₹1007 — ₹1336
PE 19.9 · Book ₹481 · +157% vs book
Market Cap₹21,140 Cr
Stock P/E19.9Price to Earnings
ROCE17.1%Return on Capital
ROE13.9%Return on Equity
Div. Yield0.73%Face Value ₹2

Strengths

  • +Company has been maintaining a healthy dividend payout of 23.6%
  • +Company's median sales growth is 16.2% of last 10 years

Weaknesses

  • −Company has a low return on equity of 11.6% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -13.6%

Shareholding Pattern

Promoters33.58%
FIIs10.92%
DIIs45.12%
Public10.38%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters35.24%35.24%33.52%▼1.733.52%33.52%33.57%▲0.033.57%33.58%▲0.0
FIIs10.06%10.71%▲0.712.68%▲2.011.6%▼1.111.83%▲0.211.97%▲0.111.73%▼0.210.92%▼0.8
DIIs45.61%45.93%▲0.345.6%▼0.345.02%▼0.644.81%▼0.244.1%▼0.743.9%▼0.245.12%▲1.2
Public9.09%8.14%▼0.98.19%▲0.09.85%▲1.79.84%▼0.010.34%▲0.510.8%▲0.510.38%▼0.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales4,1475,1463,7224,1364,8266,2045,0405,4195,7886,964
Expenses3,8034,7483,4083,7884,4245,6814,6114,9725,3066,292
Operating Profit344399313348402523428447481672
OPM %8%8%8%8%8%8%8%8%8%10%
Net Profit144150117132157242201200211220
EPS ₹8.869.237.188.159.2114.1511.7611.7112.3712.87

AI Insights

Revenue Trend

Mar 2026 revenue at ₹23,210Cr, up 22.9% YoY. OPM at 9%.

Debt Position

Borrowings at ₹2,995Cr. Debt-to-equity ratio: 0.37x. Healthy balance sheet.

Capex Cycle

CWIP at ₹68Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 45.12% (+2.71pp change). FIIs: 10.92% (+2.76pp change). Promoters hold 33.58%.

Margin & Efficiency

ROCE improving from 15% (Mar 2015) to 17% (Mar 2026). Working capital days: 53.

Valuation

PE 19.9x with 17.1% ROCE. Price is 157% above book value of ₹481. Dividend yield: 0.73%.

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