INSUBCONTINENT EXCLUSIVE:
ICICI Securities has maintained buy rating on Kalpataru Power Transmission in the long term with a target price of Rs 630
Shares of Kalpataru Power ended up 0.7% at Rs 412.80 on Wednesday while the BSE Sensex closed 52.28 points up at 41,306.02
Company FinancialsFor the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 3216.00 crore, up 16.06% from last
quarter sales of Rs 2771.00 crore and up 29.42% from last year same quarter sales of Rs 2485.00 crore
The company has reported net profit after tax of Rs 145.00 Crore in latest quarter
Munot, Mr.Sajjanraj Mehta, Mr.Vimal Bhandari, Ms.Anjali Seth
As on 30-09-2019, the company has a total of 154,715,470 shares outstanding
Investment RationaleKalpataru Power reported Rs 1,000 crore worth of order intake in Q3 of FY20, which implies Rs 6,000 crore of order
intake for FY20-to date, said ICICI Securities
Given the target towards zero debt by March 2021 and gradual reduction of pledged shares by the promoters, the stock is available at
attractive valuation, it said.
