Shares of Kalpataru Projects International Ltd. are trading flat after reaching a day’s high of Rs 1,364.30 on 9th October. This follows the announcement that the firm will sell its 100% stake in its wholly-owned subsidiary, Vindhyachal Expressway, to Actis Atlantic Holdings Limited for Rs 775 crore.

The deal is subject to the necessary approvals and compliance with conditions precedent.

In July, the firm announced an ambitious order inflow target of Rs 22,000 to Rs 23,000 crore for 2025.

Amit Uplenchwar, Director of Kalpataru Projects International, expressed confidence in achieving the target for the financial year 2024-25, noting strong performance in the first quarter with order inflows nearing Rs 7,000 crore and an L1 position for Rs 5,000 crore.

Given this momentum, he stated that the company is optimistic about reaching the target of Rs 22,000 to Rs 23,000 crore by the end of the financial year.

In the first quarter, Kalpataru Projects International reported revenue of Rs 4,587 crore, an 8.2% increase over the previous quarter.

However, margins declined to 8.2%, and net profit fell by 19% to Rs 93 crore.

Uplenchwar addressed financial concerns, stating that the company had projected a profit before tax (PBT) margin of 4.5% to 5%. For the first quarter, the standalone PBT is at 4.4%.

Some divisions, especially those reliant on government contracts like the water sector, fell short of revenue expectations. However, a recovery is expected in these areas during Q3 and Q4.

At 12:28 PM, the shares of Kalpataru Projects were trading 0.09% higher at Rs 1,324.70 on NSE.

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