Kalpataru Projects International Ltd (NSE:KPIL)

Q3 2026 Kalpataru Projects International Ltd Earnings Call Transcript

Feb 4, 2026 / 03:00 AM GMT

Release Date Price: ₹1107.6 (-1.59%)

Transcript

Key Points

Positve

Kalpataru Projects International Ltd (BOM:522287) reported a 27% YoY growth in revenue for the first nine months of FY26, surpassing their full-year guidance of 25%.
The company achieved a significant improvement in PBT margins, with a 110 bps increase at the console level and an 80 bps increase at the standalone level.
Net working capital days improved to 79 days at the console level and 97 days at the standalone level, better than the year-end target of 100 days.
The order book remains strong at INR63,287 crore, providing significant revenue visibility for future quarters.
Net debt has declined significantly, with a 29% reduction at the console level and a 16% reduction at the standalone level compared to the previous quarter.

Negative

The water business continues to face challenges with high outstanding amounts, impacting cash flow and execution speed.
Brazilian operations have been a dampener due to legacy projects, affecting EBITDA performance.
The company faces exposure to commodity price fluctuations, particularly in steel, which cannot be hedged.
There is uncertainty regarding the realization of arbitration awards, which could impact future cash flows.
The company has some legacy orders with lower margins, although these are being phased out.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KAPT.NS - Kalpataru Projects International Ltd
Q3 2026 Kalpataru Projects International Ltd Earnings Call
Feb 05, 2026 / 03:00AM GMT

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Conference Call Participants
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* Amit Anwani
Prabhudas Lilladher Pvt Ltd - Analyst
* Parikshit Kandpal
HDFC Securities Ltd - Analyst
* Ashish Shah
HDFC Mutual Fund - Analyst
* Editor

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified Company Representative [1]
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(audio in progress) operationally, financially, and strategically.

Before we dive into the specific performance metrics, I would like to provide a broader perspective on our progress achieved in the last three quarters. First, our revenue has consistently improved over the last three quarters, driven by robust execution and a healthy order backlog.

At the console

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