Slides
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Results Presentation Q1 FY26
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Disclaimer 2 This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures and financial results are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future events. The company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forward looking statements. The information contained in these materials has not been independently verified. None of the companies, its Directors, Promoters or affiliates, nor any of its or their respective employees, advisors or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document and makes no representation or warranty, express or implied for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them or on behalf of them and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current and if not stated otherwise as of the date of this presentation. The company undertakes no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice. This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Kalpataru Projects International Limited (Formerly Kalpataru Power Transmission Ltd.) (the “Company”), nor shall it, or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefore. Any person/party intending to provide finance/invest in the shares/business of the company should do so after seeking their own professional advice and after carrying out their own due diligence procedure to ensure that they are making an informed decision. This presentation is strictly confidential and may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of the applicable securities laws. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. By participating in this presentation or by accepting any copy of the slides presented, you agree to be bound by the foregoing limitations.
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3 About KPIL Overview – Kalpataru Projects International Ltd. (KPIL) Airport Terminal, Hanimaadhoo International Airport, Maldives
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About Kalpataru Projects International Ltd. (KPIL) (1) Consolidated Revenue for FY25/ Data as on 31 March 2025, (2) Data as of 30th June 2025, (3) Rating from CRISIL and India Ratings, (4) Data as on 7th August 2025 ₹22,316 Cr Revenue [1] 4+ Decades Experience ₹65,475 Cr Order Book[2] 250+ Projects Under execution across 4 continents ₹9,899 Cr Order Wins (YTD FY26) AA/Stable Credit Rating [3] 11,000+ Employees Worldwide with 40+ nationalities[1] Oil & Gas Railways Power Transmission & Distribution Water Building & Factories Urban Infra Established in 1981, KPIL is a global engineering and construction company with industry leading capabilities in energy and infrastructure projects Expanded Global Footprint Capabilities Focused In Six High Growth Businesses ₹19,005 Cr Market Cap [4] Global Reach in 75 Countries Live Projects in 30+ Countries 4
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KPIL’s Values and Culture Drives Outcomes 5 VALUES At the heart of everything we do are the six KPIL values that guide our decisions and behaviors. We are proud to live by our values and expect the same of everyone who works with or for KPIL. Business Ethics Customer Centricity Pride Quality Respect Teamwork “To be the foremost global player in all the business verticals we operate in & we will achieve this by adhering to our core values ” VISION
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Large Spectrum of Expertise Across Diversified Businesses (1/2) 6 Solar EPC Substation Transmission Tower Manufacturing Commercial Buildings Airports Underground Cabling EPC Industrial Plants & Factories Residential Buildings Data Centres Power T&D Buildings & Factories Oil & Gas 240,000 MTPA In-house transmission tower manufacturing capacity 575+ Total towers tested 100+ In-house design engineers ~37,000 km Total length of completed transmission contracts 30+ Countries With ongoing T&D projects 2.6 Mn Tons Transmission towers delivered globally Processing facilities Refineries & Fertilizers Plants Process Pipeline Cross Country Pipeline Large Fleet of Equipment to execute large and complex projects globally Qualified to execute projects in Middle East, Africa & Asia PQs received 560+ Stations where associated works completed 11,500+ km Total length of pipelines laid Currently executing large size project in Saudi Arabia In-house manufacturing for scaffolding and formwork 80+ Ongoing projects in India 3,700+ Total team strength Green Hydrogen & Derivatives Transmission Lines Tower Testing Institutional Buildings 14 Ongoing projects in India & Middle East 14 million sq feet Single largest residential project under execution Completed works for two data centers in India Currently Executing airport projects in India and Maldives Note: Data as of March 31, 2025
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7 Irrigation Intake & Treatment Signaling & Telecom Rail Over Bridges Water Supply Storage & Distribution Overhead Electrification Track Laying Stations Facility Water & Irrigation Railways Urban Infra 34,600+ kms Piped water network laid 40+ Ongoing projects in India Maldives, Mongolia & Sri Lanka International Footprints 650,000 Water meter connections 10 lakh House service connections In-house Design, engineering, execution and O&M teams Elevated Metro Rail Underground Metro Rail Roads & Highways Flyovers Global Presence Projects in India, Ghana, and Ethiopia 22+ kms Total flyovers delivered 2,500 lane kms Total highways delivered 950+ Workforce in railway project execution 9,000+ Track km Total Railway tracks commissioned Since inception 8,900+ Track km Railway electrification works executed Note: Data as of March 31, 2025 Tunnelling Works Large Spectrum of Expertise Across Diversified Businesses (2/2) Operation & Maintenance Exploring Opportunities in High Speed Rail, Pump Storage etc. Owned Fleet of Tunnel Boring Machines Executing 2 underground metro rail projects in India Marine Structure Desalination
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Key Strengths - Building Competitive Advantage 8 • Well diversified business profile across high growth EPC verticals, expanded global reach and differentiated customer mixDiversified Business Profile • Local understanding on a global scale with reach in 75 countries • Demonstrated ability to handle large size EPC projects with various levels of complexityGlobal Scale and Expertise • End to end design, engineering and project management capabilities to execute large size EPC projects • State-of-the-art manufacturing and fabrication facilities for transmission towers, railway poles, girders, scaffolding, formwork etc. Strong Execution Capabilities • Strong balance sheet with track record of consistent growth and profitability; Financial flexibility to invest in capex for future growth Financial Strength • Highly experienced team with proven expertise of managing global operations and ability to scale businesses and deliver large size EPC projectsManagement Capability
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Urbanization Unprecedented Opportunities Driven by Global Megatrends 9 Energy Transition Sustainable Mobility Water for Everyone Environmental Resilience Digital Transformation KPIL well positioned on dynamic market trends and already seizing multiple opportunities across businesses Sovereignty and Global Rebalancing – Industrialisation, Resilient supply chains, Energy Security etc. New & modernization of energy distribution networks Renewables and energy storage solutions Low Carbon and Reliable Mobility Solutions Urban Regeneration – Mass Housing, non- residential buildings and mass transit infrastructure Digital and AI – Datacenters, Smart Cities and Cabling Infrastructure Water Supply Infrastructure ~$100 Trillion Total Global Infrastructure Need by 2040(1) 1 Global Infrastructure Outlook
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Consistent Track Record of Growth Supported by a Robust Balance Sheet (Standalone) 10 (1) PBT Before Exceptional Items (2) Borrowings net of cash, bank balance, mutual fund investments and excluding interest-free loan received pursuant to agreements in relation to the divestment of T&D Assets Revenue 12,407 14,337 16,760 18,888 FY22 FY23 FY24 FY25 INR Cr Net Worth 4,937 5,320 5,750 7,185 FY22 FY23 FY24 FY25 INR CrPBT and PBT Margin [1] 436 685 774 929 0 100 200 300 400 500 600 700 800 900 1000 FY22 FY23 FY24 FY25 PAT and EPS 350 532 533 648 0 100 200 300 400 500 600 700 FY22 FY23 FY24 FY25 INR CrNet Debt and Net Debt/Equity [2] 1,054 1,680 1,833 1,107 - 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 FY22 FY23 FY24 FY25 Order Book 29,323 43,769 54,875 60,059 FY22 FY23 FY24 FY25 4.9%3.5% 4.8% 4.6% 39.332.832.721.6 0.2x 0.3x 0.2x0.3x PBT Margin PBT EPS PAT Net Debt/ Equity Net Debt ₹ crores otherwise stated
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Consistent Track Record of Growth Supported by a Robust Balance Sheet (Consolidated) 11 Revenue 14,777 16,361 19,626 22,316 FY22 FY23 FY24 FY25 INR Cr Net Worth 4,279 4,721 5,138 6,513 FY22 FY23 FY24 FY25 INR CrPBT and PBT Margin [1] 511 551 701 823 - 100 200 300 400 500 600 700 800 900 FY22 FY23 FY24 FY25 PAT and EPS 535 435 516 567 0 100 200 300 400 500 600 FY22 FY23 FY24 FY25 INR CrNet Debt and Net Debt/Equity [2] 1,902 2,581 2,591 1,953 - 500 1,000 1,500 2,000 2,500 3,000 FY22 FY23 FY24 FY25 Order Book 32,761 45,918 58,415 64,495 FY22 FY23 FY24 FY25 3.6% 3.4% 3.6% 3.7% 36.3 29.1 31.4 35.5 0.4x 0.5x 0.5x 0.3x PBT Margin PBT EPS PAT Net Debt Net Debt/ Equity ₹ crores otherwise stated (1) PBT Before Exceptional Items (2) Borrowings net of cash, bank balance, mutual fund investments and excluding interest-free loan received pursuant to agreements in relation to the divestment of T&D Assets
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Stock Information 12 Promoters, 33.5% FIIs/FPI, 11.8% Domestic Institutional Investors, 44.8% Public & Others, 9.8% Shareholding Pattern – As on 30th June 2025 Top Shareholders Dividend Payout Ratio (%) Promoter Pledge Position (% of Promoter Holding) ⁻ SBI Mutual Fund ⁻ ICICI Prudential Mutual Fund ⁻ HDFC Mutual Fund ⁻ Kotak Mahindra Mutual Fund ⁻ Nippon Life India Asset Management ⁻ Mirae Asset Mutual Fund ⁻ ICICI Prudential Life Insurance ⁻ HSBC India Infrastructure Equity Mother Fund ⁻ Axis Mutual Fund ⁻ Vanguard International ⁻ Nomura Asset Management 51.8% 48.8% 31.5% 24.6% FY22 FY23 FY24 Q1 FY26 17.9% 24.1% 25.5% 25.3% FY22 FY23 FY24 FY25
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13 Business and Financial Performance Q1 FY26 Airport Runway, Hanimaadhoo International Airport, Maldives
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Key Highlights for Q1FY26 14 Strong growth momentum with highest ever Q1 Revenue, EBITDA and PBT ₋ Consolidated revenue grew by 35% YoY to reach ₹6,171 crores led by strong performance in T&D, B&F, Oil & Gas and Urban Infra business ₋ Consolidated EBITDA growth of 39% YoY to ₹525 crores; EBITDA margin up by 20 bps to 8.5% ₋ Consolidated PBT up by 112% YoY to ₹290 crores; PBT margin improves by 170 bps to 4.7% ₋ Improvement in profitability largely on account of robust execution, strong underlying demand and better operating leverage in core business Order momentum remains robust and continues to follow an upward trajectory ₋ Order Book of ₹65,475 crores as on 30 June 2025, providing good visibility for future growth ₋ Order inflows of ₹9,899 crores YTD FY26; mainly driven by B&F and T&D business ₋ Made notable strides with largest-ever order win in the B&F business of over ₹2,500 crores and strengthening market presence in the T&D business in Middle East Maintaining strong balance sheet and flexibility ₋ Standalone Net debt down by 33% YoY to ₹ 1,940 crores and consolidated net debt decline by 26% YoY to of ₹ 2,765 crores ₋ Net Working Capital days at 106 days at standalone level and 91 days at consolidated level ₋ Divestment of Vindyachal Expressway on track: Awaiting approvals; Expecting deal closure in FY26 ₋ We have initiated a strategic overview of one of our overseas step-down subsidiaries, Linjemontage I Grastorp AB (“LMG”), where various options are being evaluated, including by way of an initial public offering (subject to market conditions). In this regard, merchant bankers and other advisors and intermediaries have been appointed to assist with such evaluation and LMG has initiated certain preparatory steps Revenue ₹6,171 crores 35% YoY EBITDA ₹525 crores {EBITDA Margin: 8.5%} 39% YoY PBT ₹290 crores {PBT Margin: 4.7%} 112% YoY Q1 FY26 Consolidated Consolidated Order Book ₹65,475 crores 14% YoY Q1 FY26 Standalone Revenue ₹5,040 crores 35% YoY EBITDA ₹428 crores {EBITDA Margin: 8.5%} 37% YoY PBT ₹274 crores {PBT Margin: 5.4%} 67% YoY
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Results Summary – Q1 FY26 (Standalone) 15 Particulars (₹ crores) Q1 FY25 Q1 FY26 Change (YoY) Revenue 3,722 5,040 35% (-) Operating Expenses (3,409) (4,612) Core EBITDA 313 428 37% Core EBITDA Margin 8.4% 8.5% 10 bps (+) Other Income 29 23 (-) Depreciation (93) (94) (-) Finance Cost (86) (84) PBT 164 274 67% PBT Margin 4.4% 5.4% 100 bps (-) Tax (47) (73) PAT 117 201 72% PAT Margin 3.1% 4.0% 90 bps
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Results Summary – Q1 FY26 (Consolidated) 16 Particulars (₹ crores) Q1 FY25 Q1 FY26 Change (YoY) Revenue 4,587 6,171 35% (-) Operating Expenses (4,208) (5,646) Core EBITDA 379 525 39% Core EBITDA Margin 8.3% 8.5% 20 bps (+) Other Income 22 16 (-) Depreciation (119) (129) (-) Finance Cost (145) (122) PBT 137 290 112% PBT Margin 3.0% 4.7% 170 bps (-) Tax (53) (76) PAT 84 214 154% PAT Margin 1.8% 3.5% 170 bps
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Order Book & Order Inflow (Consolidated) 17 Order BookOrder Inflow T&D, 32% B&F, 68% ₹6,711 cr YTD ₹9,899 cr ₹3,188 cr T&D , 41% B&F, 25% Water, 14% Oil & Gas, 11% Railways, 5% Urban Infra, 4% ₹7,148 cr 30 June 2025: ₹65,475 cr ₹26,725 cr ₹2,792 cr ₹16,695 cr ₹8,903 cr ₹3,211 cr 77% 23%Domestic International Received new orders of ₹9,899 crore till date in FY26 40%Domestic 60% International
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Consolidated Business Revenue – Q1 FY26 18 Particulars Q1 FY25 Q1 FY26 Change (YoY) Comments T&D* 1,843 2,873 56% ▪ T&D revenue growth driven by robust project execution and healthyorder backlog in India and overseas markets ▪ LMG reported revenue of ₹774 crores in Q1 FY26, growth of 72% YoY; Order book at ₹ 3,494 crore as on 30 June 2025 ▪ Fasttel reported ₹217 crore revenue for Q1 FY26; Order book at ₹551 crore as on 30 June 2025 B&F 1,226 1,383 13% ▪ B&F revenue remained strong despite labour availability constraints ▪ Secured large size orders on design built basis from existing and new clients on back of project capabilities and track record of timely delivery Water 704 670 -5% ▪ The water business continued to face challenges, primarily due to delayed fund flows in JJM- projects Oil & Gas 254 588 132% ▪ Growth in Oil & Gas revenue was fueled by a strong order backlog and significant progress in Saudi Railways 242 254 5% ▪ Railways segment operated in line with strategic priorities, emphasizing project completion and prudent bidding in a competitive market Urban Infra 181 257 42% ▪ Urban Infra revenue growth led by execution ofelevated and underground metro rail projects Total Core Business 4,450 6,025 35% Others # 137 146 7% Total Consolidated Revenue 4,587 6,171 35% * T&D business includes LMG (Sweden), Fasttel (Brazil) & Other International Subsidiaries / JVs # Others mainly includes Shree Shubham Logistics (SSL), Road SPVs , Saicharan (Indore Real Estate) etc.
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Borrowings and Working Capital update 19 Note: Gross Debt exclude interest-free loan received pursuant to agreements in relation to the divestment of T&D Assets Particulars Q4 FY25 Q1 FY25 Q1 FY26 Difference y-o-y q-o-q Gross Debt 3,033 3,536 2,977 (559) (56) (+) Long Term borrowings 1,283 1,089 1,250 161 (33) (+) Short Term borrowings incl. current maturities 1,750 2,447 1,727 (720) (23) (-) Cash, Bank, Unquoted Investments & Other Deposits 1,926 629 1,037 408 (889) Net Debt 1,107 2,907 1,940 (967) 833 Net Working Capital Days 94 124 106 STANDALONE Particulars Q4 FY25 Q1 FY25 Q1 FY26 Difference y-o-y q-o-q Gross Debt 4,065 4,567 4,042 (525) (23) Net Debt 1,953 3,739 2,765 (974) 812 Net Working Capital Days 79 103 91 CONSOLIDATED
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Update on Road BOOT Assets – Q1 FY26 20 Average Per Day Collections (₹ Lakhs) 10.5 9.4 9.9 9.8 10.5 9.8 10.1 10.3 10.9 9.5 10.9 10.9 11.6 22.5 20.5 21.6 23.7 25.4 24.4 23.9 25.0 26.1 24.0 26.4 27.9 28.9 23.7 19.9 21.1 24.5 25.8 23.0 21.9 25.0 26.6 23.0 27.0 39.0 32.1 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Brij Bhoomi Expressway Pvt Ltd. Wainganga Expressway Pvt Ltd. Vindhyachal Expressway Pvt Ltd. Total 63.660.357.2 77.756.8 49.8 52.6 58.0 61.7 56.0 56.5 64.3 • Average daily revenue stood at ₹72.6 lakhs in Q1 FY26, compared to ₹63.6 lakhs in Q1 FY25, a growth of around 14% • As of June 30, 2025, the total investment in Road BOOT assets of ₹840 crores, with no additional investments made during Q1 FY26 • Investment in VEPL at ₹417 crores, WEPL at ₹332 crores and BBEPL at ₹91 as on 30 June 2025 72.6
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21 Substation Project, Guyana, South America Sustainability at KPIL
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Strong commitment to Sustainability 22 Our Sustainability Mission "We will continuously endeavor to make products & services sustainable by driving carbon & water neutrality in our business and achieving zero waste in all our operations to preserve our planet, people and prosperity" Key ESG Achievements of FY 2024-25 Received score of 54 in the DJSI Corporate Sustainability Assessment, reflecting the depth of ESG integration across our operations T&D International business has become Carbon Neutral for 2nd consecutive year* Received a ‘B’ rating in Climate and Water Risk disclosures in our debut submission to the Carbon Disclosure Project (CDP) Initiated installation of a 3 MWp solar photovoltaic power project at the Uniara Power Plant *For Scope 1 & 2 Emissions, Sweden, Norway & Brazil Subsidiaries, and Operations in SAARC Countries Key Strategic Pillars Focus Areas Creating Positive Impact Carbon Emission Water Stewardship Waste Management Engaging with Stakeholders Health & Safety Human Capital Management Local Community Engagement Performing Responsibly Responsible Business Practice Responsible Portfolio Responsible Sourcing Aligned to Frameworks Integrated Reporting & Disclosures Carbon Neutrality by 2040 Full Circular Economy for Construction & Debris Waste by 2035 Water Neutrality by 2032 Sustainability Goals Adopted in 2023
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Empowering Community – Q1 FY26 update Sustainable & Inclusive Development Healthcare Project Name – Kalpa Arogya Seva (KARE) Education and Skilling Project Name – Kalpa Vidya Kalpa Kaushal o Women Trained at Skill Development Centre, Khorpa ▪ 30 women trained for Phenyl Making ▪ 35 women trained under Sewing Machine Operator Training o 1 Hub and 5 Spoke schools identified for providing access to systematic and long-term STEM learning to students studying in Govt. schools in Khorpa, and other villages, Raipur o Target to transform 15 schools by establishing Digital Smart Classrooms. School recommendations received by KPIL SPOCS from various locations Animal Welfare and Environment Project Name – SAVIOUR o ~2700 animals were supported for (dogs, cows, birds). Medicines, and food, Animal Birth Control camps etc. are being conducted in Darjeeling and Kalimpong, West Bengal o Expansion of Mobile Medical Unit initiative to 2 new geographies, making it a total of 4 MMUs, Jharkhand, Bihar, Odisha, Rajasthan o 11,821 beneficiaries availed basic diagnostic services and participated in health awareness sessions through MMUs across all locations o 2485 patients benefitted from Kalpa Seva Aarogya Kendra (KSAK), a subsidized OPD, providing Specialized healthcare services to needy and underserved people in Khorpa, Chhattisgarh This included services provided through X-Ray facility & Pathology services
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investorrelations@kalpataruprojects.com Conference Call Date: 8 August 2025 | Time: 9 AM (IST) Dial in Number: +91 22 6280 1384 / +91 22 7115 8285 (accessible from all networks and countries)