Kalpataru Power Transmissions Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 5394.24 Crore) operating in Power sector.
Kalpataru Power Transmissions Ltd. key Products/Revenue Segments include Income from EPC,Contracts,& Others, Transmission Lines, Towers & Structures, Others, Scrap, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2020.
Financials
Investment Rationale:
The brokerage cut its FY23E/FY24E EPS by 6.7%/3.7% as it now factored in lower EBITDAM. Any correction in commodity prices can lead to an upgrade, though we do not factor it in presently amid volatility. There has been an improvement in net debt(FY22: Rs4.1bn vs. Rs7.7bn in FY21) and it is expected to come down further by FY23-end. We have marginally raised our Mar’23 TP to Rs500 (Rs490 earlier) to factor in higher cash on books. We believe the merged entity can cater to a larger EPC market.
Promoter/FII Holdings
Promoters held 51.58 per cent stake in the company as of 31-Mar-2022, while FIIs owned 5.31 per cent, DIIs 35.79 per cent.
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