Kalpataru Projects Eyes T&D Growth, Payment Delays to Ease

• Kalpataru Projects (KPTL) expects payment delays to ease and highlights significant multi-year opportunities in the Transmission & Distribution (T&D) sector.
• The company is managing over ₹1,000 crore in receivables from Jal Jeevan Mission projects (~10% of its order book), anticipating government payments to normalize by Q4 or early next fiscal.
• KPTL projects strong T&D demand for over a decade, driven by global power network upgrades and renewable energy integration across various continents.
• The company is expanding internationally in water, urban mobility, and oil & gas, with projects involving Aramco and ADNOC, aiming for a balanced domestic and international business mix.
• Kalpataru hedges foreign exchange and commodity exposures to protect its EPC operations from market volatility.

Why It Matters: Kalpataru Projects' payment delays highlight sector risks, but T&D offers growth.