Kalpataru Power Transmission Ltd (KPTL), in a stock exchange filing, said that it has secured new orders in diverse segments.
Mumbai-headquartered KPTL said that it was secured new orders, including notifications of award, valued at around Rs.1,300 crore.
The global EPC player gave the following details of the new orders:
- Orders from India and overseas market in the power T&D business
- EPC orders for pipeline laying and associated works in India
- Order for railway electrification by Central Organization for Railway Electrification (CORE)
- KPTL’s international subsidiary has secured new power T&D projects in Europe
These new orders has taken KPTL’s order inflow during FY21 so far to over Rs.4,500 crore. Besides, the company is “favourably placed” in orders of over Rs.3,000 crore. Kalpataru Power Transmission is on track to achieve order inflows of Rs.9,000-10,000 crore during the current financial year, the release said.
Commenting on the new order announcements, Manish Mohnot, Managing Director & CEO, KPTL said “We are delighted with the new order wins in all our businesses. Our current year order inflow is in excess of Rs.4,500 Crores and we are favourably placed in projects of over Rs.3,000 Crores. We continue to be on track to achieve order inflows in the range of Rs.9,000-10,000 Crores for the current financial year. We continue to focus on expanding our international operations in all our business verticals for KTPL and JMC. The process of divestment of T&D assets is also on track and we expect to be net debt free in 2021.”
Divestment of T&D assets
Kalpataru Power Transmission, besides being an EPC contractor for power T&D projects, is also a developer of power transmission assets awarded under the tariff based competitive bidding (TBCB) mode. However, KTPL intends to exit the “developer” mode and is in the process of selling its power transmission assets with a view to reduce debt and support future growth.
Here is an update on the three power transmission assets developed by KPTL:
- Jhajjar KT Transco Pvt Ltd: KPTL has sold this asset to India Grid Trust (IndiGrid) for an enterprise value of Rs.310 crore. Cash flow from sale has been received.
- Alipurduar Transmission Ltd: KTPL has signed definitive agreements with Adani Transmission to sell this operational asset for an enterprise value of Rs.1,286 crore.
- Kohima-Mariani Transmission Ltd: Construction work on this line was completed in October 2020 and full commissioning is expected in FY21. KPTL has entered into an agreement to sell this asset to CLP India.
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