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Kalpataru Projects International

KPIL NSE
₹1,366.10 +44.70 (+3.38%)
P/E
20.52
View as Markdown
MCP
Close 4 Nov 2026 ₹1,366.10 +61.70 +4.73% 1Y
Start ₹1,304.40

Key Fundamentals

SmallcapConstructionIndustrials

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
18.30%
Debt to Equity
0.46
EPS (TTM)
₹66.56
Book Value
₹455.37
Market Cap
—
P/E (TTM)
20.52
P/B
3.00
ROE
13.70%
Dividend Yield
0.83%
EBITDA
₹2,345 Cr
52W High
₹1,490.00
52W Low
₹1,007.10
Day Range
₹1,312.20 – ₹1,370.00
Volume
1,26,520

Peer Comparison

Industrials › Construction › Civil Construction

Kalpataru Projects International peer comparison
L&T
₹3,944.4030.37₹5,47,193 Cr4.800.96%15.90%14.60%₹3,00,904 Cr₹20,895 Cr
Rail Vikas Nigam
₹191.2344.37₹39,292 Cr4.060.93%9.02%10.80%₹20,825 Cr₹897 Cr
Cemindia Projects
₹1,310.1037.40₹23,549 Cr6.360.24%27.80%32.80%₹10,205 Cr₹602 Cr
Kalpataru Projects International (this company)
₹1,366.1020.52₹22,726 Cr3.000.83%13.70%18.30%₹27,380 Cr₹1,129 Cr
NBCC
₹77.7428.37₹20,666 Cr6.950.20%20.40%29.30%₹12,756 Cr₹766 Cr
IRB Infrastructure Developers
₹16.7921.25₹19,929 Cr0.940.31%4.29%7.47%₹7,686 Cr₹954 Cr
Engineers India
₹300.8521.55₹16,653 Cr5.060.52%23.40%30.40%₹3,878 Cr₹784 Cr
Median 7 companies₹300.8528.37₹22,726 Cr4.800.52%15.90%18.30%₹12,756 Cr₹897 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

51 Average

Data confidence 100/100

Category scores

Quality
51
Average
Returns, margins, earnings quality 22% weight
Valuation
92
Strong
Cheap vs sector & own history 24% weight
Growth
44
Weak
Sales & profit trajectory 9% weight
Financial Health
12
Poor
Solvency, leverage, coverage 9% weight
Momentum
38
Weak
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 23.3%

Weaknesses

3
  • Company has a low return on equity of 11.5% over last 3 years.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -7.48%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2611
OscillatorsBullish162
Moving AveragesStrong Bullish109

Key readings

RSI (14)
51.95
Neutral
MACD (12,26,9)
−14.94
Bullish
SMA (50)
1,383.66
Bearish
SMA (200)
1,270.37
Bullish

As of

Analyst Rating

Based on 19 analysts
BUY100%

19 of 19 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
19
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+14.28%
5Y+15.95%
3Y+18.38%
1Y+21.63%
TTM+14.56%

Net profit

Net profit growth by window
10Y+29.79%
5Y+9.26%
3Y+33.33%
1Y+81.83%
TTM+61.75%

Operating cash flow

Operating cash flow growth by window
10Y+3.34%
5Y+10.50%
3Y+32.73%
1Y+67.83%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−2.77 pp
5Y−3.20 pp
3Y−0.15 pp
1Y−0.14 pp
TTM+0.03 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹7,446 Cr
Mar 2018₹8,709 Cr
Mar 2019₹10,840 Cr
Mar 2020₹12,676 Cr
Mar 2021₹12,949 Cr
Mar 2022₹14,777 Cr
Mar 2023₹16,361 Cr
Mar 2024₹19,626 Cr
Mar 2025₹22,316 Cr
Mar 2026₹27,143 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹157 Cr
Mar 2018₹278 Cr
Mar 2019₹487 Cr
Mar 2020₹390 Cr
Mar 2021₹662 Cr
Mar 2022₹535 Cr
Mar 2023₹435 Cr
Mar 2024₹516 Cr
Mar 2025₹567 Cr
Mar 2026₹1,031 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹595 Cr −6.9% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 28 Oct 2026
AI opinion · based on fundamentals
Risk medium

Kalpataru Projects International Ltd trades at ₹1,324.7 as of 2026-10-28 with a market cap of ₹22,622 Cr, a P/E (TTM) of 19.9x, and ROCE of 20.51%. The company has delivered 18% compounded sales growth over 3 years and 36% compounded profit growth over the same period, though return on equity has averaged 12% over 3 years and promoter holding has declined by 7.48% over the last three years.

Bull Case 8
  • Strong profit compounding: 3-year compounded profit growth of 36% and TTM profit growth of 57% indicate accelerating earnings momentum
  • Healthy ROCE of 20.51% suggests efficient capital deployment relative to the construction sector average
  • Consistent revenue growth: compounded sales CAGR of 18% over 3 years, 16% over 5 years, and 14% over 10 years shows durable top-line expansion
  • Moderate leverage with debt-to-equity of 0.46x, relatively contained for a capital-intensive construction business
  • Stock has delivered a 3-year CAGR of 29% and 5-year CAGR of 27%, reflecting sustained long-term wealth creation
  • ROE has improved from a 3-year average of 12% and 5-year average of 11% to 14% in the last year, signalling an upward trajectory
  • Company maintains a consistent dividend payout of 23.3%, providing a dividend yield of 0.84% at the current price of ₹1,324.7
  • Current price of ₹1,324.7 sits 11.1% below the 52-week high of ₹1,490, suggesting the stock has corrected from its recent peak
Bear Case 6
  • Promoter holding has decreased by 7.48% over the last three years, raising questions about insider confidence and potential dilution
  • 3-year average ROE of approximately 12% (flagged as low at 11.5%) is modest for a company trading at a P/B of 2.91x, implying the market prices in significantly higher future returns
  • High cost of borrowing erodes net margins in a capital-intensive construction business with debt-to-equity of 0.46x
  • 10-year compounded profit growth of 24% versus 10-year sales growth of 14% suggests margin expansion that may be difficult to sustain indefinitely
  • The stock is still 31.5% above its 52-week low of ₹1,007.1, indicating meaningful downside risk if sector sentiment reverses
  • Construction sector is inherently cyclical and exposed to government capex cycles, working capital stress, and execution risks on large orders

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: KPIL's order book is the standout, with FY27 YTD intake crossing ₹22,000 crore, reflecting strong execution visibility. No material headwinds surfaced in the period. The promoter reclassification involves a minor 1.26% stake and the GST matter is negligible. The trend is constructive, with order momentum suggesting continued revenue growth ahead.

Positives 1
  • Strong FY27 order intake Oct 21

    Secured new orders worth ₹2,349 crore, taking total FY27 year-to-date order intake past ₹22,000 crore, signaling robust business momentum.

Neutral 2
  • Promoter reclassification request filed Nov 3

    Imtiaz Kanga and Yasmin Imtiaz Kanga (combined 1.26% stake) requested reclassification from Promoter Group to Public category under SEBI Regulation 31A. Board to consider in due course.

  • GST penalty reduced on appeal Oct 13

    Appellate order reduced GST penalty from ₹0.21 crore to ₹0.14 crore for FY18-FY20. Company plans to appeal further.

Quarterly Results

₹ Cr
KPIL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
4,241
4,518
4,896
5,971
4,587
4,930
5,732
7,067
6,171
6,529
6,665
7,778
6,408
Expenses
3,859
4,148
4,472
5,519
4,208
4,492
5,253
6,529
5,646
5,967
6,152
7,138
5,846
Operating Profit
382
371
424
452
379
438
479
538
525
561
513
640
562
OPM %
9%
8%
9%
8%
8%
9%
8%
8%
9%
9%
8%
8%
9%
Other Income
18
12
14
20
22
17
10
13
16
23
−1
103
77
Interest
115
137
124
142
144
150
164
118
122
137
137
105
82
Depreciation
120
113
121
119
119
117
123
138
129
126
128
127
137
PBT
165
132
193
211
137
188
202
296
290
322
247
511
420
Tax %
32%
32%
25%
20%
39%
33%
31%
26%
26%
26%
40%
16%
26%
Net Profit
113
90
144
169
84
126
140
218
214
237
149
431
312
EPS (₹)
7.08
5.47
8.68
10.12
5.71
7.73
8.31
13.2
12.51
14.06
8.91
25.43
18.16

Profit & Loss

₹ Cr
KPIL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
7,152
7,142
7,446
8,709
10,840
12,676
12,949
14,777
16,361
19,626
22,316
27,143
27,380
Expenses
6,412
6,305
6,525
7,609
9,426
11,133
11,376
13,482
14,872
17,812
20,285
24,711
25,103
Operating Profit
740
838
921
1,100
1,414
1,543
1,574
1,295
1,490
1,814
2,031
2,432
2,277
OPM %
10%
12%
12%
13%
13%
12%
12%
9%
9%
9%
9%
9%
8%
Other Income
25
−18
24
25
44
48
277
274
165
64
62
141
202
Interest
373
462
469
473
486
603
532
522
621
704
774
693
461
Depreciation
168
186
181
192
211
340
373
351
392
473
497
510
518
PBT
224
171
295
461
761
648
945
696
642
701
823
1,371
1,501
Tax %
48%
56%
47%
40%
36%
40%
30%
23%
32%
26%
31%
25%
—
Net Profit
115
76
157
278
487
390
662
535
435
516
567
1,031
1,129
EPS (₹)
7.84
7.17
12.15
18.29
30.41
25.18
45.06
36.28
27.13
31.37
34.3
60.9
66.56
Div. Payout %
19%
21%
16%
14%
10%
14%
22%
18%
26%
26%
26%
18%
—

Balance Sheet

₹ Cr
KPIL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
31
31
31
31
31
31
30
30
32
32
34
34
Reserves
2,186
2,217
2,391
2,643
3,089
3,327
3,709
4,249
4,688
5,106
6,479
7,742
Borrowings
3,684
2,922
2,849
3,319
2,610
3,296
3,260
3,838
3,786
4,008
4,314
3,543
Other Liabilities
3,050
4,315
4,947
6,393
8,406
9,086
8,323
8,999
11,014
12,868
14,746
16,383
Total Liabilities
8,951
9,485
10,218
12,385
14,135
15,741
15,321
17,116
19,521
22,014
25,573
27,702
Fixed Assets
3,204
3,081
3,061
3,062
3,141
3,444
3,472
3,559
3,124
3,073
3,252
3,148
CWIP
398
27
117
724
16
54
34
25
52
33
29
64
Investments
11
63
45
51
1
1
1
5
5
0
150
2
Other Assets
5,338
6,313
6,995
8,549
10,977
12,241
11,814
13,528
16,339
18,908
22,142
24,488
Total Assets
8,951
9,485
10,218
12,385
14,135
15,741
15,321
17,116
19,521
22,014
25,573
27,702

Cash Flow

₹ Cr
KPIL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
72
1,104
766
650
1,035
937
931
714
656
843
914
1,534
Investing
−605
−387
−235
−699
−835
−713
−6
−214
−323
−266
−718
8
Financing
550
−726
−439
66
−219
40
−897
25
−438
−524
400
−1,636
Net Cash Flow
18
−9
93
17
−19
265
29
524
−104
53
595
−94
Free Cash Flow
−504
742
542
−3
330
474
696
452
−63
524
402
840
CFO/OP
22
149
97
75
94
78
75
75
59
62
58
79

Ratios

KPIL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
114
149
166
166
142
133
141
113
117
108
128
113
Inventory Days
152
113
116
97
91
84
82
62
64
60
61
69
Days Payable
245
277
289
267
265
239
287
241
257
260
280
276
Cash Conversion Cycle
21
−15
−7
−5
−32
−22
−63
−66
−75
−92
−92
−94
Working Capital Days
59
57
67
68
76
84
67
54
47
46
43
38
ROCE %
11%
11%
14%
16%
21%
20%
18%
13%
14%
16%
16%
18%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Kalpataru Projects International insights

65 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 44.85%
  • Promoters 33.58%
  • FIIs 10.75%
  • Public 8.39%
  • Others 2.43%

24.56% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Kalpataru Projects International

What does Kalpataru Projects International Ltd do?
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.
Where is Kalpataru Projects International Ltd (KPIL) listed?
Kalpataru Projects International Ltd trades as KPIL on the NSE and under code 522287 on the BSE.
Which sector does Kalpataru Projects International Ltd belong to?
Kalpataru Projects International Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the PE ratio of Kalpataru Projects International Ltd?
Kalpataru Projects International Ltd trades at a PE ratio of 20.52 as of 4 Nov 2026, on earnings per share of ₹66.56, against a book value of ₹455.37 per share.
What is the 52-week high and low of Kalpataru Projects International Ltd?
Over the last 52 weeks Kalpataru Projects International Ltd has traded between ₹1,007.1 and ₹1,490 as of 4 Nov 2026.
Does Kalpataru Projects International Ltd pay dividends?
Kalpataru Projects International Ltd has a dividend yield of 0.83%.
What is the Return on Equity (ROE) of Kalpataru Projects International Ltd?
Kalpataru Projects International Ltd reported a return on equity of 13.70%. Its debt-to-equity ratio is 0.46.

Company Information

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.

Website kalpatarupower.com
CEO Mr. Manish Dashrathmal Mohnot CA, ICWA
Employees 9,881
Listed 15 Dec 2000
Face Value ₹2

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