Multibagger stock: Kalpataru Projects International shares gain 3% on Rs 2,333 crore order win

Shares of Kalpataru Projects International Ltd climbed over 3 per cent in Tuesday's trade, as the civil construction company announced bagging of Rs 2,333 crore worth orders. The orders were secured by the engineering & construction company, along with its joint ventures and international subsidiaries. They included orders in the Transmission & Distribution (T&D) business in India and overseas markets; an EPC order for an industrial plant in the metal industry and a residential building order in India.

Following the development, the stock rose 3.42 per cent to hit a high of Rs 1,213.30 on BSE. The multibagger stock is up 129 per cent in the past one year and 228 per cent in the past two years.

"We remain positive on KPIL owing to strong order pipeline across the segments, their focus on geographical expansion, increasing pre-qualification for large contracts and synergies arising from merger with JMC. The stock is currently trading at a PE of 25.9x/16.6x on the earnings of FY25/26E. We have a 'Hold' rating with a target price of Rs1,211," Amit Anwani of Prabhudas Lilladher said.

MD & CEO Manish Mohnot said: “We are happy with the new order wins in our T&D business, ncluding our largest order in Sweden secured through subsidiary, LMG. The orders in T&D business have enhanced our order book, thereby improving the growth visibility for the T&D business going forward." 

He said the company's B&F business has further strengthen its capabilities by securing an EPC order in the metal industry from a prestigious client in India. 

"These orders reaffirm our confidence that the T&D and B&F businesses will continue to contribute significantly to our growth going forward,” he said.