Kalpataru Projects International Limited (KPIL), originally incorporated in 1981, is one of the largest Engineering and Construction companies listed in India, with a diversified portfolio of projects worldwide in over 70+ countries. The company was formerly known as Kalpataru Power Transmission Limited and changed its name to Kalpataru Projects International Limited in May 2023.
KPIL operates in Power Transmission & Distribution (T&D), Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways, and Airports in over 75+ countries. The company has established itself as a trusted name in the infrastructure development space with its comprehensive end-to-end solutions and project execution capabilities.
The company has demonstrated strong financial performance in recent years. As of June 26, 2025, the market capitalization of Kalpataru Projects International Ltd (KPIL) is ₹21,005.02 Crore. The company has reported revenue of ₹22,316 Crore and profit of ₹567 Crore for the financial year.
KPIL has ended FY25 on a high note, posting its best-ever financial performance on both standalone and consolidated fronts. The infrastructure major reported robust revenue growth, record profitability, a historic order book, and significant debt reduction.
Key financial metrics for FY25 include:
- Standalone revenue grew 13% YoY to ₹18,888 Crore.
- Consolidated revenue crossed ₹22,000 Crore with 14% YoY growth.
- Consolidated EBITDA up 13% to ₹1,834 Crore.
- Profit before tax (PBT) before exceptional items stood at ₹929 Crore on a standalone basis, marking a 20% increase year-on-year.
- Standalone PAT growth of 22% for FY25.
The company's consolidated net profit jumped 37.2% to ₹225.41 Crore on 18.3% increase in revenue from operations to ₹7,066.77 Crore in Q4 FY25 over Q4 FY24. Margins remained stable, with the EBITDA margin at 7.6% versus 7.5% a year earlier.
The company operates with EPC representing 97% of revenue in 9M FY25 versus 96% in FY23. The business is well-diversified across various infrastructure verticals:
T&D Business Revenue crossed ₹10,000 Crore with 28% YoY growth, making it one of the fastest-growing segments. KPIL is one of the most trusted T&D players in both domestic and international markets, with in-house capabilities for design, engineering, manufacturing, testing, installation, and commissioning to execute large-size T&D turnkey projects.
The Buildings & Factories business delivered healthy growth of 22% in FY25. Equipped with PAN India reach, expertise, and experienced manpower, KPIL provides world-class infrastructure support to India's growing Healthcare, Institutional, Residential, Townships, Commercial, Industrial, Hospitality, IT office spaces, Data centers, Manufacturing Plants, and Services sectors.
Urban Infra Revenue grew 10% for FY25, while the Water business faced challenges due to delayed collections and deferred fund allocation, impacting revenue growth in FY25.
Order inflows for FY25 totaled ₹25,475 Crore, taking the order book to ₹64,495 Crore as of March 31, 2025. This represents a significant achievement for the company, providing strong revenue visibility for future quarters.
Recent order wins include new orders of approximately ₹2,372 Crore and a significant contract worth ₹3,789 Crore, marking its largest order in the Buildings and Factories segment.
The company has a strong international presence with notable subsidiaries performing well. LMG Sweden Revenue grew 79% with an order book of over ₹2,800 Crore, while Fasttel Brazil Revenue grew 35% for FY25.
The company reported a significant reduction in net debt by 40% YoY at the standalone level and 25% YoY at the consolidated level, strengthening its balance sheet. Standalone Net Debt declined 40% YoY to ₹1,107 Crore, while Consolidated Net Debt declined 25% YoY to ₹1,953 Crore.
The stock has a P/E ratio of 35.8, book value of ₹381, and dividend yield of 0.76%. The company has a return on equity of 9.56% over the last 3 years, while ROCE stands at 16.0%.
Promoter holding in Kalpataru Projects International Ltd has gone down to 33.52% as of March 2025 from 35.24% as of September 2024.
Kalpataru Projects International Ltd announced a final dividend of ₹9 per share for FY25. The company's Annual General Meeting (AGM) was held on July 10, 2025.
The company continues to strengthen its market position through strategic order wins and operational excellence, positioning itself well for sustained growth in India's expanding infrastructure sector and international markets.
