Kalpataru Projects International Limited — PPTs, 31-10-2025: Investor Presentation

**KPIL Q2 & H1 FY26 Performance:**

1. **Business Performance:** KPIL reports strong Q2 & H1 FY26 results. Consolidated revenue jumped 32% YoY to ₹6,529 Cr for Q2 and 33% YoY to ₹12,700 Cr for H1. Profitability surged, with consolidated PAT up 89% YoY to ₹237 Cr (Q2) and 115% YoY to ₹451 Cr (H1). Growth was primarily driven by T&D (+51% YoY), Urban Infra (+65% YoY), B&F (+20% YoY), and Oil & Gas (+21% YoY).

2. **Growth Drivers/Strategy:** A robust order book of ₹64,682 Cr (+7% YoY) provides clear visibility for future business growth. KPIL is strategically positioned to benefit from a capex upcycle and long-term structural tailwinds in power transmission, real estate, urban mobility, industrial, and hydrocarbon sectors. Focused capex in high-growth areas and a strong balance sheet (Net Debt/Equity 0.46x) underscore capacity for expansion.

3. **Recent Developments:** Year-to-date FY26 order inflows hit ₹14,951 Cr, with an additional ~₹5,000 Cr in projects favorably placed. The company secured significant large-size order wins in T&D and B&F, enhancing its market position. KPIL also expects to close the Vindhyachal Expressway Private Limited (VEPL) deal in H2 FY26.

4. **Key Financial Metrics:** For Q2 FY26 Consolidated: Revenue was ₹6,529 Cr, EBITDA reached ₹561 Cr (8.6% margin), and PBT stood at ₹322 Cr (4.9% margin). Standalone Net Working Capital Days improved by 16 days YoY to 102 days.

5. **Management Commentary/Outlook:** Management highlights that the record order book and the ongoing capex upcycle provide clear pathways for sustained growth. They emphasize the strong balance sheet's capacity to pursue future opportunities.