Kalpataru Projects International Limited Earnings Summary — Q1 FY2027
Kalpataru Projects International Delivers Strong Q1 FY2027 Performance with 46% Net Profit Growth
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 17.6% sequentially in Q1 FY2027.
- Revenue of ₹6,408 Cr is 3.8% higher year-on-year.
- Revenue has compounded at 3.2% annualised over the last 10 quarters.
- Net profit of ₹310 Cr is 45.1% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 32.6% annualised across the period.
- Operating margin stands at 8.8% in Q1 FY2027.
- Operating margin expanded by 26 bps year-on-year.
- Over the last two years operating margin has expanded by 51 bps.
- PBT margin is 6.6%.
- Expense growth of 3.5% remained below revenue growth of 3.8%.
- Operating profit of ₹562 Cr is 7.0% higher year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 60/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 6,408 | 7,778 | 6,665 | 6,529 | 6,171 | 7,067 | 5,732 | 4,930 | 4,587 | 5,971 |
| Expenses | Stable | 5,846 | 7,138 | 6,152 | 5,967 | 5,646 | 6,529 | 5,253 | 4,492 | 4,208 | 5,519 |
| Operating Profit | Improving | 562 | 640 | 513 | 561 | 525 | 538 | 479 | 438 | 379 | 452 |
| Operating Margin | Stable | 8.8% | 8.2% | 7.7% | 8.6% | 8.5% | 7.6% | 8.4% | 8.9% | 8.3% | 7.6% |
| Other Income | Volatile | 77 | 103 | -1 | 23 | 16 | 13 | 10 | 17 | 22 | 20 |
| Interest | Softening | 82 | 105 | 137 | 137 | 122 | 118 | 164 | 150 | 144 | 142 |
| Depreciation | Stable | 137 | 127 | 128 | 126 | 129 | 138 | 123 | 117 | 119 | 119 |
| Profit Before Tax | Improving | 420 | 511 | 247 | 322 | 290 | 296 | 202 | 188 | 137 | 211 |
| Tax | Improving | 109 | 81 | 98 | 84 | 77 | 78 | 62 | 62 | 53 | 42 |
| Net Profit | Volatile | 310 | 434 | 152 | 240 | 214 | 225 | 142 | 126 | 93 | 164 |
| Net Margin | Volatile | 4.8% | 5.6% | 2.3% | 3.7% | 3.5% | 3.2% | 2.5% | 2.5% | 2.0% | 2.8% |
Key Takeaways
- Consolidated Net Profit for Q1 FY2027 rose by 45.8% year-on-year to ₹311.53 crores, driven by improved operating efficiencies.
- The consolidated order book reached an all-time high of ₹65,457 crores at the start of the fiscal year, providing high revenue visibility.
- Operating margins expanded to 8.8% in Q1 FY2027 from 8.5% in the same quarter last year, reflecting disciplined project execution.
- Net debt-to-equity ratio remains at a historic low of 0.1x at both consolidated and standalone levels, highlighting a very strong balance sheet.
- T&D and Buildings & Factories (B&F) segments are expected to drive the majority of order inflows in the first half of the fiscal year.
- The company has achieved significant debt reduction, with consolidated net debt falling over 50% year-on-year to ₹915 crores.
- Management noted supply chain disruptions in the Middle East impacted T&D international deliveries towards the end of the previous period.
- KPIL is actively bidding on large-scale Oil & Gas and Urban Infra projects in the Middle East, expecting significant traction in H2 FY2027.
Management Guidance
Management expects order inflows to exceed ₹30,000 crores in FY2027 with a target top-line growth of 15% plus and a 75 basis point expansion in consolidated PBT margins.
Sentiment Shift
Improving
The company has transitioned from a high-growth phase to one characterized by superior profitability and strategic capital allocation, with historic low debt levels.
Outlook
The outlook is constructive based on a multi-decade super cycle in global T&D capex and robust domestic demand in Urban Infra and B&F. Management remains cautious on the domestic Water business and Railways, while focusing on high-margin international opportunities.
From the Annual Report (Key Quotes)
“Our consol and standalone net debt to equity is at a multiyear historic low of 0.1x.”
“What makes this balance sheet performance truly remarkable is that we delivered it while continuing to invest nearly ₹900 crores in capex.”
“Strategic capex has become our core execution enabler... This infrastructure compresses cycle times and elevates quality.”
“We will back this growth with unwavering operational rigor and capital discipline.”
Official Quarterly Documents
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This summary is AI-generated from Kalpataru Projects International Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.
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