Kalpataru Projects International Ltd.

NSE: KPIL · Civil Construction

52W Range₹1,007 ₹1,480

Snapshot

Unlock Kalpataru Projects International Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Kalpataru Projects International Limited is a diversified engineering, procurement, and construction (EPC) company providing turnkey solutions across power transmission, buildings, factories, water infrastructure, railways, and oil and gas sectors. The company operates through EPC and developmental project segments, offering comprehensive design, fabrication, and construction services globally.

Business Model

The company generates revenue by executing large-scale infrastructure projects on a turnkey basis, managing the entire lifecycle from design and procurement to construction and maintenance. It also derives income from biomass power generation and agri-storage infrastructure services, including warehousing and collateral management.

Growth Outlook

Growth is driven by the expansion of civil infrastructure projects, including metro construction, highways, and water pipelines, alongside continued demand for high-voltage power transmission and railway electrification. The company's transition to a broader EPC player supports its ability to capture opportunities in both domestic and international markets.

Key Risks

  • Project Execution Risk. Delays in large-scale infrastructure projects due to regulatory hurdles or land acquisition issues can adversely impact profitability.
  • Commodity Price Volatility. Fluctuations in the prices of steel, cement, and other raw materials can compress margins on fixed-price EPC contracts.
  • Geopolitical Risk. Operating in international markets exposes the company to currency fluctuations and political instability in various territories.
  • Concentration Risk. Heavy reliance on government-led infrastructure spending makes the company vulnerable to shifts in public policy and budgetary allocations.

Price

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Key Metrics

REVENUE

₹27,143 Cr

TTM · consolidated

+21.6%YoY

NET PROFIT

₹1,031 Cr

TTM · consolidated

+81.7%YoY

EPS

₹60.90

TTM · consolidated

+71.4%YoY

RETURN ON EQUITY

15.1%

TTM · consolidated

+4.8 ppYoY

RETURN ON CAPITAL EMPLOYED

20.8%

TTM · consolidated

+3.3 ppYoY

P/E

21.7x

Q4 FY26 · consolidated

21.7 vs 37.2x5Y avg

EV/EBITDA

10.4x

Q4 FY26 · consolidated

10.4 vs 18.3x5Y avg

EBITDA MARGIN

8.6%

TTM · consolidated

+0.1 ppYoY

NET PROFIT MARGIN

5.5%

Q4 FY26 · consolidated

+2.4 ppYoY

DEBT TO EQUITY

0.4%

Q4 FY26 · consolidated

-0.2 ppYoY

Peers · Civil Construction

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Kalpataru Projects International Ltd.KPIL
17,94121.6810.3821.6%8.6%15.1%20.8%+10.3%
IRB Infrastructure Developers Ltd.IRB
24,69917.1810.490.5%54.8%4.2%6.0%-58.8%
NBCC (India) Ltd.NBCC
22,19636.5824.666.7%7.2%28.4%33.1%-15.4%
Kec International Ltd.KEC
14,22821.9010.517.6%7.3%10.9%23.2%-43.5%
Techno Electric & Engineering Company Ltd.TECHNOE
12,18826.7819.6943.3%18.8%12.3%14.0%-33.7%
IRCON International Ltd.IRCON
11,22020.6013.15-15.7%13.2%9.2%8.1%-31.8%

As of Q4 FY26

Financials