Kalpataru Power surges post bagging orders worth Rs. 871 crore

Construction engineering company Kalpataru Power Transmission soared by over 11 per cent on the bourses on Tuesday after the company announced an orders win of Rs. 871 crore. The orders include construction of substation, associated transmission line, double circuit transmission, pipeline work and railway electrification work.

The company bagged orders worth Rs. 282 crore from APTRANSCO; Rs. 100 crore order from Power Grid Company of Bangladesh and Nepal Electricity Authority cumulatively. While an order worth Rs. 366 crore from a private client in Rajasthan and Rs. 123 crore from CORE. The company’s aggregate cumulative order has exceeded by Rs. 2,600 crore in the last one year.

On the financial front, the company recorded a slight hike in net profit to Rs. 71.49 crore in the second quarter of fiscal year 2018 as against the same quarter in the previous year. The company had recorded a hike of over 34 per cent to Rs. 269.08 crore in FY17, on a yearly basis.

The stock of Kalpataru Power has surged by over 97 per cent in the last one year. On Tuesday, the stock surged by 11.70 per cent to hit an intraday high of Rs. 535 per share on BSE. The stock also recorded a spurt in volume by more than 2.30 times against the average volume on BSE. The stock hit its 52-week high of Rs. 535.95 per share on January 12, 2018. It had hit its 52-week low of Rs. 263 per share on January 23, 2017, respectively.