Kalpataru Projects Secures ₹24.71 Billion Order in 2026

Introduction

Kalpataru Projects International Limited (KPIL), a leading Engineering, Procurement, and Construction (EPC) company, has announced the acquisition of new orders worth ₹24.71 billion. The announcement, made on March 17, 2026, continues the company's strong momentum of securing high-value contracts across its key business segments. This consistent inflow of orders underscores the company's robust market position and enhances its revenue visibility for the coming financial year.

A Consistent Stream of New Orders

Over the past year, KPIL has demonstrated remarkable success in winning new contracts, reflecting a healthy demand environment in the infrastructure sector both in India and overseas. The latest order win is part of a larger trend of significant contract acquisitions that have substantially bolstered the company's order book. This steady performance highlights the company's execution capabilities and its ability to secure projects in competitive markets. The consistent order flow provides a clear indicator of sustained operational activity and future growth.

Here is a summary of major orders secured by KPIL over the last several months:

Strong Financial Performance

KPIL's strong operational performance is mirrored in its financial results. For the second quarter ended September 2025, the company reported an 89% year-on-year (YoY) increase in its consolidated profit, which stood at ₹2.37 billion. Revenue from operations for the same period rose by 32% YoY to ₹65.29 billion, driven by robust project execution and a healthy order backlog. The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 29% YoY to ₹5.61 billion, with a margin of 8.6%. This consistent profitability showcases the company's focus on efficient execution and cost management. The profit trajectory shows a clear upward trend, with trailing twelve months profit at ₹8.18 billion, compared to ₹5.86 billion for the year ended March 2025 and ₹5.10 billion for March 2024.

Robust Order Book and Management Outlook

As of the end of the second quarter of FY26, KPIL's order book stood at a strong ₹646.82 billion, providing significant revenue visibility for the upcoming quarters. The management has expressed confidence in the company's growth prospects, citing the continuous order inflows as a key driver. Manish Mohnot, MD & CEO of KPIL, has consistently highlighted the company's expanding footprint in both domestic and international markets. Commenting on past order wins, he noted, “We are pleased with the continuous order inflows in the T&D and B&F businesses. The orders in the B&F business have strengthened our portfolio... and further improved our leadership in the B&F market in India.” This optimism is backed by a strategic focus on diversifying the business mix and strengthening capabilities across all verticals.

Market Response and Stock Performance

The market has generally responded positively to KPIL's consistent order announcements. Following previous large order wins, the company's stock has witnessed intraday gains ranging from 3% to over 7%. However, the stock has also experienced periods of correction. As of March 23, 2026, the stock was trading at ₹1,018.10. The stock recorded its 52-week high of ₹1,352.85 on December 17, 2024, and a 52-week low of ₹786.30 on April 7, 2025. The company's market capitalisation stands at approximately ₹200.16 billion. The stock's performance reflects both the positive news flow from order wins and broader market sentiment.

Company's Core Operations

Kalpataru Projects International Limited is one of India's largest specialized EPC companies with a diversified portfolio. Its core business verticals include Power Transmission & Distribution (T&D), Buildings & Factories (B&F), Water Supply & Irrigation, Railways, Oil & Gas Pipelines, and Urban Mobility, which encompasses flyovers and metro rail projects. KPIL has a significant global presence, currently executing projects in over 30 countries with a footprint in 75 nations. The company provides end-to-end solutions, from design and fabrication to erection and maintenance, on a turnkey basis.

Analysis and Forward Look

The consistent success in securing large-scale orders is a testament to KPIL's strong project management skills and established client relationships. The growing order book, which is well-diversified across geographies and business segments, de-risks the company's revenue stream and provides a solid foundation for future earnings growth. The infrastructure sector in India and key overseas markets continues to offer significant opportunities, and KPIL is well-positioned to capitalize on this demand. The management's focus on profitable growth and efficient working capital management further strengthens its outlook.

Conclusion

Kalpataru Projects International Limited continues to build on its operational momentum with another significant order win of ₹24.71 billion. This achievement, combined with a robust order book and strong financial performance, reinforces the company's position as a leader in the EPC sector. With a clear strategy and proven execution capabilities, KPIL is poised for sustained growth as it continues to expand its project portfolio in high-growth infrastructure segments globally.