B. L. Kashyap and Sons Limited — PPTs, 30-05-2025: Investor Presentation

1. Financial Highlights:

Consolidated revenue fell 7% YoY to ₹1,153.63 Cr, with EBITDA down 41% to ₹65.34 Cr and margins shrinking from 8.86% to 5.66%. Profit after tax halved to ₹27.48 Cr, margins dropping 44% to 2.38%. Standalone revenue also declined to ₹290.92 Cr in Q4FY25, with EBITDA margins at 2.77%. Shareholder funds held steady at ~₹715 Cr (consolidated), while net debt lowered due to better working capital management. Long-term borrowings remained low near ₹40 Cr, supporting ongoing deleveraging.

2. Strategic Initiatives & Growth Drivers:

A ₹30 Cr capex plan for FY26 targets innovation and workforce upskilling around construction tech and composite steel structures. Focus shifts toward high-value residential and build-to-suit offices, meeting rising mid-to-high segment housing and MNC demand. The firm aims to increase its government project share from 7% to 25%, prioritizing railway and metro ancillary work based on prior success. Key geographic markets include Haryana, Karnataka, and Delhi NCR.

3. Business Developments:

Won a ₹510 Cr order from Fidatocity Homes, expanding residential exposure. Progressing multiple projects such as Sabarmati Multimodal Transport Hub and metro/railway stations. Maintains a robust pipeline of 250+ projects valued at ₹3,021 Cr, supporting revenue visibility. Plans to monetize non-core assets by FY27 to boost financial flexibility.

4. Market Position & Competitive Advantage:

With 30 years in business and 1,300+ skilled staff, the company benefits from strong project execution and advanced tech adoption (ERP, BIM, HR systems). In-house MEP capabilities enhance operational efficiency. A diversified order book (70% commercial, 17% residential) with 93% private sector exposure lowers risk and drives referral business. Client trust is reinforced through consistent quality and timely delivery.

5. Investor Implications:

Focus on innovation, order diversification, and growing government project share provide positive growth potential. Financial deleveraging and asset monetization strengthen balance sheet and reduce execution risk. Margin pressure and revenue decline pose near-term challenges. Key triggers to monitor include government project ramp-up, capex utilization, and new order inflows for signs of recovery.