Kalpataru Power Transmission wins orders worth over Rs.1,500 crore
- December 30, 2021
Kalpataru Power Transmission Ltd (KPTL) has won new domestic and overseas orders, aggregating over Rs.1,500 crore.
In a stock exchange filing, Kalpataru Power said that it has secured new orders worth Rs.1,560 crore in its core business of power transmission.
While KPTL has landed orders from India, Africa, CIS and South America, its international subsidiary clinched new orders in Europe.
According to Manish Mohnot, Managing Director & CEO, KPTL, “We are delighted with the new order wins, especially that all these orders are in our core power T&D business. These orders in the T&D business reaffirm our confidence in the strong growth of this business going forward. With reduced volatility and good visibility across all our businesses, we are confident to reach our targeted margin and build a strong order book.”
Also read: Kalpataru Power Completes Acquisition Of Brazilian Company Fasttel
Fund raising
In an independent development, KPTL is planning to raise funds through the issuance of non-convertible debentures on private placement basis. The company’s board is scheduled to meet on January 4, 2022, to consider and approve the fund raising proposal.
Core business
Kalpataru Power Transmission Ltd has decided to focus on its core business of EPC contracting in the power transmission sector. The Mumbai-headquartered company has been existing its power transmission development business. Accordingly, it has been selling its equity stake in its power transmission assets – both intrastate and interstate – to strategic investors. Very recently, KTPL divested its stake in the Kohima-Mariami power transmission asset to Apraava Energy (formerly CLP India). Read more.
