Kalpataru Power receives orders worth Rs. 1263 crore

Kalpataru Power Transmission received an order from PGCIL and South America in T&D business. The order is worth approximately Rs. 1263 crore which includes designing, supplying, erecting, testing and commissioning of railway electrification including OHE, TSS & associated works in India from RVNL.

Kalpataru Power Transmisssion Limited (KPTL) is one the growing EPC companies engaged in power and infrastructure sectors, having business operations in areas such as transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing and also logistics business. KPTL also maintains a strong presence globally via several contracts related to power transmission and distribution in Africa, Middle East, SAARC countries, etc.

KPTL has also received EPC order for the laying of gas and oil pipeline and other related work from IOCL in India. The company’s international subsidiary has also received new T&D projects in Europe. Mr. Manish Mohnot, Managing Director & CEO of KPTl stated that these orders have been a good support in strengthening the order book of the company, thus helping KPTL to fortify its leadership position and result in better revenue growth and profitability.

Recently, the company had informed about receiving a notice from the World Bank alleging process violations in bids submitted by its transmission business on two projects in Africa more than 7 years ago. In a reply, KTPL disagreed with the bank's position and intended to contest the proceedings vigorously.

On Friday, the stock of the company closed at Rs. 444, down by 0.9 per cent or Rs. 4.05 per share. The 52-week high is Rs. 553.50 and 52-week low is Rs. 268.50 on BSE.