Interim report
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Corporate Office: Kalpataru Synergy, 7th Floor, Opp. Grand Hyatt, Santacruz (E), Mumbai - 400055. India | Tel: +91 22 3064 2100/+91 22 6885 1500 Registered Office: Plot No. 101, Part-III, G.I.D.C. Estate, Sector - 28, Gandhinagar - 382 028, Gujarat, India | Tel: +91 79 2321 4000 Email: info@kalpataruprojects.com | Website: www.kalpataruprojects.com | CIN: L40100GJ1981PLC004281 KPIL/26-27 11th August, 2026 BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai - 400 001 Scrip Code: 522287 National Stock Exchange of India Ltd. ‘Exchange Plaza’, C-1, Block ‘G’, Bandra-Kurla Complex Bandra (E) Mumbai – 400 051 Scrip Code: KPIL Sub.: Consolidated and Standalone Unaudited Financial Results for the quarter ended 30th June, 2026 Respected Sir(s), In accordance with Regulation 30, 33 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), as amended from time to time and in continuation of our intimation dated 04 th August, 2026, we wish to inform that the Board of Directors (the "Board") of Kalpataru Projects International Limited (the "Company") at its meeting held today, i.e., 11th August, 2026 has inter alia approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2026 as recommended by the Audit Committee. Pursuant to the provisions of the LODR Regulations, we enclose the following: i) Copy of the Limited Review Report of the Statutory Auditors of the Company on the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30 th June, 2026; ii) Statement of Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30 th June, 2026. The meeting of Board of Directors commenced at 12:00 noon IST and concluded at 02:15 p.m. IST. We request you to take the same on record. Thanking you, Yours faithfully, For Kalpataru Projects International Limited Shweta Girotra Company Secretary Enclosed: As Above
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B S R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai – 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Registered Office: B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 5 Limited Review Report on unaudited consolidated financial results of Kalpataru Projects International Limited for the quarter ended 30 June 2026 pursuant to Regulation 33 and Regulation 52(4) read with Regulation 63 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Kalpataru Projects International Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Kalpataru Projects International Limited (hereinafter referred to as “the Parent”), and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) and its share of the net profit after tax and total comprehensive income of its joint venture for the quarter ended 30 June 2026 (“the Statement”) (in which are included interim financial results of four joint operations), being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “ Interim Financial Reporting ” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure I. 5. Attention is drawn to the fact that the figures for the three months ended 31 March 2026 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit. 6. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
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B S R & Co. LLP Limited Review Report (Continued) Kalpataru Projects International Limited Page 2 of 5 7. We did not review the interim financial results of two joint operations included in the unaudited standalone interim financial results of the entities included in the Group, whose results reflect Company's share of total revenues of Rs. 69.39 crores, Company's share of total net profit after tax of Rs. 2.09 crores and Company's share of total comprehensive income of Rs. 2.09 crores, for the quarter ended 30 June 2026, as considered in the respective unaudited standalone interim financial results of the entities included in the Group. The interim financial results of these joint operations have been reviewed by the other auditor whose reports have been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the reports of such other auditor and the procedures performed by us as stated in paragraph 3 above. We did not review the interim financial information of nine subsidiaries included in the Statement, whose interim financial information reflects total revenues (before consolidation adjustments) of Rs. 909.46 crores, total net profit after tax (before consolidation adjustments) of Rs. 45.51 crores and total comprehensive income (before consolidation adjustments) of Rs. 45.51 crores, for the quarter ended 30 June 2026, as considered in the Statement. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Parent’s management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter. 8. The Statement includes the interim financial results of two joint operations which has not been reviewed, whose interim financial results reflect Company's share of total revenues of Rs. 26.38 crores, Company's share of total net (loss) after tax of Rs. (1.97) crores and Company's share of total comprehensive loss of Rs. (1.97) crores, for the quarter ended 30 June 2026, as considered in the Statement. According to the information and explanations given to us by the Parent’s management, these interim financial results are not material to the Group. The Statement also includes the interim financial information of eleven subsidiaries which have not been reviewed, whose interim financial information reflects total revenues (before consolidation adjustments) of Rs. 22.45 crores, total net (loss) after tax (before consolidation adjustments) of Rs. (20.06) crores and total comprehensive (loss) (before consolidation adjustments) of Rs. (20.06) crores, for the quarter ended 30 June 2026, as considered in the Statement. The Statement also includes the Group’s share of net profit/(loss) after tax of Rs. Nil and total comprehensive income / (loss) of Rs. Nil, for the quarter ended 30 June 2026 as considered in the Statement, in respect of one joint venture, based on its interim financial information which has not been reviewed. According to the information and explanations given to us by the Parent’s management, these interim financial information are not material to the Group.
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B S R & Co. LLP Limited Review Report (Continued) Kalpataru Projects International Limited Page 3 of 5 Our conclusion is not modified in respect of this matter. For B S R & Co. LLP Chartered Accountants Firm’s Registration No.:101248W/W-100022 Bhavesh Dhupelia Partner Mumbai Membership No.: 042070 11 August 2026 UDIN:26042070BGCPLE7499 Bhaveshkumar Harshadkumar Dhupelia Digitally signed by Bhaveshkumar Harshadkumar Dhupelia Date: 2026.08.11 13:57:12 +05'30'
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B S R & Co. LLP Limited Review Report (Continued) Kalpataru Projects International Limited Page 4 of 5 Annexure I List of entities included in unaudited consolidated financial results. Sr. No Name of component Relationship 1 Kalpataru Projects International Limited Parent Company 2 Shree Shubham Logistics Limited Subsidiary 3 Energylink (India) Limited Subsidiary 4 Amber Real Estate Limited Subsidiary 5 Kalpataru Metfab Private Limited Subsidiary 6 Kalpataru Power Transmission (Mauritius) Limited Subsidiary 7 Kalpataru Power FZCO (Formerly known as Kalpataru Power DMCC) Subsidiary 8 Kalpataru Power Transmission USA Inc. Subsidiary 9 LLC Kalpataru Power Transmission Ukraine Subsidiary 10 Kalpataru Projects Arabia Company (Formerly known as Kalpataru IBN Omairah Company Limited) Subsidiary 11 Kalpataru Power Transmission Sweden AB Subsidiary 12 Kalpataru Power Senegal SARL Subsidiary 13 Estrela Reluzente Participações S.A(Formerly known as Kalpataru Power DO Brasil Participacoes S.A.) Subsidiary 14 Brij Bhoomi Expressway Private Limited Subsidiary 15 JMC Mining and Quarries Limited Subsidiary 16 Wainganga Expressway Private Limited Subsidiary 17 Kalpataru Power Chile SpA Subsidiary 18 Saicharan Properties Limited Step down subsidiary
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B S R & Co. LLP Limited Review Report (Continued) Kalpataru Projects International Limited Page 5 of 5 19 Punarvasu Financial Services Private Limited Step down subsidiary 20 Linjemontage i Grastorp Aktiebolag Step down subsidiary 21 Linjemontage AS Step down subsidiary 22 Fasttel Engenharia S.A. Step down subsidiary 23 Kurukshetra Expressway Private Limited Joint Venture 24 KPIL Ohitan JV Joint Operation 25 KPIL-Gulermark JV Joint Operation 26 Afcon-KPTL JV Joint Operation 27 KPIL-Soma JV Joint Operation
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KALPATARU PROJECTS INTERNATIONAL LIMITED REGISTERED OFFICE : Plot No. 101, Part III, G.I.D.C. Estate, Sector - 28, Gandhinagar - 382 028 CIN : L40100GJ1981PLC004281 Tel Nos. : +91 79 232 14000; Fax Nos.: +91 79 232 11966 / 71; E Mail : cs@kalpataruprojects.com (Rs. in Crores) For the Year Ended June 30, 2026 (Unaudited) March 31, 2026 (Audited) (Refer Note 4) June 30, 2025 (Unaudited) March 31, 2026 (Audited) 1 Revenue from Operations 6,407.97 7,777.90 6,171.17 27,143.06 2 Other Income 77.20 36.79 16.35 104.87 3 Total income (1+2) 6,485.17 7,814.69 6,187.52 27,247.93 4 Expenses (a) Cost of Materials Consumed 1,948.20 2,739.07 2,069.38 9,397.26 (37.28) 36.32 (44.90) (57.62) 2,727.47 3,092.34 2,574.27 10,972.74 (d) Employee Benefits Expense 701.43 662.95 668.24 2,650.43 (e) Finance Costs 81.98 104.66 122.03 500.58 (f) Depreciation and Amortization Expense 136.62 127.08 129.15 510.12 (g) Other Expenses 506.28 606.98 379.13 1,940.35 Total expenses 6,064.70 7,369.40 5,897.30 25,913.86 5 420.47 445.29 290.22 1,334.07 6 Exceptional items (Refer Note 8) - 66.06 - 36.58 7 Profit before tax (5+6) 420.47 511.35 290.22 1,370.65 8 Tax expenses Current tax 127.87 179.42 83.70 417.19 Deferred tax (18.93) (98.67) (7.07) (77.17) 9 Profit for the period (7-8) 311.53 430.60 213.59 1,030.63 10 Other Comprehensive Income (net of tax) (60.24) 84.17 115.89 352.12 11 Total Comprehensive Income (net of tax) (9+10) 251.29 514.77 329.48 1,382.75 12 Net Profit attributable to a) Owners of the parent 310.06 434.21 213.62 1,040.05 b) Non-Controlling interest 1.47 (3.61) (0.03) (9.42) 13 Other Comprehensive Income attributable to a) Owners of the parent (59.73) 87.00 115.88 357.38 b) Non-Controlling interest (0.51) (2.83) 0.01 (5.26) 14 Total Comprehensive Income attributable to a) Owners of the parent 250.33 521.21 329.50 1,397.43 b) Non-Controlling interest 0.96 (6.44) (0.02) (14.68) 15 34.16 34.16 34.16 34.16 16 Other equity 7,742.39 17 Earnings per share (EPS) of (Face value of Rs. 2 each) (not annualised) a) Basic 18.16 25.42 12.51 60.90 b) Diluted 18.16 25.42 12.51 60.90 See accompanying notes to the financial results Sr. No. Profit before exceptional Items and tax (3-4) Paid up equity share capital (Face value of Rs. 2 each) (b) Changes in Inventories of Finished Goods and Work- in-Progress For the Quarter Ended Particulars (c) Erection, Sub-Contracting & other Project Expenses STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026
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1 2 3 4 5 (Rs. in Crores) For the Year Ended June 30, 2026 (Unaudited) March 31, 2026 (Audited) (Refer Note 4) June 30, 2025 (Unaudited) March 31, 2026 (Audited) A Segment Revenue EPC 6,345.64 7,716.40 6,044.90 26,648.74 Development Projects 11.36 16.47 73.85 308.56 Others 71.25 63.60 66.43 254.68 Total 6,428.25 7,796.47 6,185.18 27,211.98 Less: Inter Segmental Revenue (20.28) (18.57) (14.01) (68.92) Net Segment Revenue 6,407.97 7,777.90 6,171.17 27,143.06 B Segment Results EPC 439.01 592.33 354.00 1,617.91 Development Projects (3.03) 4.05 39.90 208.52 Others 25.61 4.71 4.41 (9.89) Total 461.59 601.09 398.31 1,816.54 Less: Finance Costs (81.98) (104.66) (122.03) (500.58) Add: Interest Income 40.86 14.92 13.94 54.69 Share of profit/(loss) of Joint Ventures - - - - Profit before Tax 420.47 511.35 290.22 1,370.65 C Segment Assets EPC 25,250.19 26,455.26 23,878.33 26,455.26 Development Projects 618.30 782.83 1,668.64 782.83 Others 480.95 474.76 573.40 474.76 Total 26,349.44 27,712.85 26,120.37 27,712.85 D Segment Liabilities EPC 17,876.49 19,404.42 18,311.15 19,404.42 Development Projects 454.48 450.04 821.75 450.04 Others 58.72 125.79 189.12 125.79 Total 18,389.69 19,980.25 19,322.02 19,980.25 6 Key standalone financial information: (Rs. in Crores) For the Year Ended June 30, 2026 (Unaudited) March 31, 2026 (Audited) (Refer Note 4) June 30, 2025 (Unaudited) March 31, 2026 (Audited) 5,534.27 7,124.32 5,063.12 23,443.52 360.95 312.42 274.15 1,143.12 265.36 219.84 200.76 831.75 For the Quarter Ended The figures for the quarter ended March 31, 2026 are the balancing figures between audited figures in respect of full financial year and the published year to date figures upto third quarter, which were subject to limited review by auditors. Additional disclosure as per Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 are attached as annexure I. The above results were reviewed by the Audit Committee and approved by the Board at their meeting held on August 11, 2026. The statutory auditors have conducted review of these financial results in terms of regulation 33 and regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and have issued unmodified review report. The Company has consolidated the financial results of its subsidiaries, jointly controlled operations and joint ventures as per the applicable Indi an Accounting Standards. Sr. No. Business segments in consolidated results are Engineering, Procurement and Construction (EPC), Operation and Maintenance of Infrastructure Projects (Developmental Projects). Particulars Total Income Profit before tax Profit after tax Particulars For the Quarter Ended
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7 8 For and on behalf of the Board of Directors For KALPATARU PROJECTS INTERNATIONAL LTD. Manish Mohnot Managing Director & CEO DIN : 01229696 Please visit our website: www.kalpataruprojects.com Kurukshetra Expressway Private Limited (“KEPL”), a joint v enture of the Company, terminated the Concession Agreement with the National Highways Authority of India (“NHAI”) in 2021, pursuant to a Force Majeure event. In the arbitration proceedings initiated by KEPL for Termination Payment and other claims against NHAI, KEPL was awarded, inter alia, Termination Payment along with interest thereon. NHAI challenged the awards under Section 34 of the Arbitration and Conciliation Act, 1996. Subsequently, vide order dated 28 July 2026, the Hon’ble High Court partially set aside the arbitral award relating to the claim of Termination Payment and the interest thereon. Based on the assessment of the Management and the legal advice obtained, no provision is considered necessary in the financial statements of KEPL or the Company in respect of the aforesaid matter. The Management will continue to monitor further developments and reassess the accounting impact, including the adequacy of disclosures, as and when required. Dated : August 11, 2026 Place : Mumbai Exceptional Items includes: (A) For the quarter ended December 2025, an incremental provision of Rs. 29.48 crore in respect of employee benefit obligations arising from the Labour Codes notified by the Government of India on 21st November 2025. (B) For the quarter ended March 2026: (i) Gain of Rs. 156.56 crore arising on disposal of the Company’s entire 100% equity interest in Vindhyachal Expressway Private Limited. Consequently, Vindhyachal Expressway Private Limited ceased to be a subsidiary of the Company; and (ii) Impairment provision aggregating Rs. 90.50 crore in respect of goodwill and intangible assets acquired at the time of acquisition. Manish Dashrathmal Mohnot Digitally signed by Manish Dashrathmal Mohnot Date: 2026.08.11 13:32:29 +05'30' Bhaveshkumar Harshadkumar Dhupelia Digitally signed by Bhaveshkumar Harshadkumar Dhupelia Date: 2026.08.11 13:58:18 +05'30'
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Annexure I For the Year Ended Particulars June 30, 2026 (Unaudited) March 31, 2026 (Audited) (Refer Note 4) June 30, 2025 (Unaudited) March 31, 2026 (Audited) Debenture Redemption Reserve (Rs. in Crores) - - - - Capital Redemption Reserve (Rs. in Crores) 1.16 1.16 1.16 1.16 Net Worth* (Rs. in Crores) 7,942.25 7,776.55 6,842.84 7,776.55 Debt Equity Ratio Times 0.34 0.43 0.62 0.43 Debt Service Coverage Ratio (DSCR) Times 1.02 2.12 1.85 1.60 Interest Service Coverage Ratio (ISCR) Times 6.15 6.27 3.81 4.06 Current Ratio Times 1.25 1.25 1.28 1.25 Long Term Debt To Working Capital (LTDWC) Times 0.17 0.27 0.38 0.27 Bad Debts To Account Receivable Ratio Percent - - - - Current Liability Ratio Times 0.94 0.93 0.89 0.93 Total Debts To Total Assets Times 0.10 0.12 0.16 0.12 Debtors Turnover (Annualised) Days 113 92 115 111 Inventory Turnover (Annualised) Days 86 59 72 63 Operating Margin P e r c e n t 8 . 8 %8 . 2 %8 . 5 %8 . 3 % Net Profit Margin P e r c e n t 4 . 9 %5 . 5 %3 . 5 %3 . 8 % *As per section 2(57) of the Companies Act Net Worth = Share capital + Reserves (excluding revaluation reserve) Debt Equity Ratio = Total Debt / Equity (excluding revaluation reserve) DSCR = (PAT+Interest+Depreciation+Loss/gain on sale of PPE) / (Interest + Lease payment + Principal Repayment of long term debt) ISCR = (PAT+Interest+Depreciation+Loss/gain on sale of PPE) / Interest expenses Current Ratio = Current Assets / Current Liabilities LTDWC = Long term debt (Including current maturities of long term borrowing) / Net Working capital (excluding current maturities of long term borrowing) Bad Debts To Account Receivable Ratio = Bad debt written off / Average trade receivables Total Debts To Total Assets = Total Debts / Total Assets Current Liability Ratio = Current Liability / Total Liability Debtors Turnover = Average Accounts Receivable / Net Sales Inventory Turnover = Average Inventory / Cost of goods sold Operating Margin = Operating profit / Sales (Operating profit is profit before exceptional items and tax, depreciation, finance costs and other income) Net Profit Margin = Profit after tax / Sales For the Quarter Ended Additional disclosure as per Regulation 52 (4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015:
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B S R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai – 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Registered Office: B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 2 Limited Review Report on unaudited standalone financial results of Kalpataru Projects International Limited for the quarter ended 30 June 2026 pursuant to Regulation 33 and Regulation 52(4) read with Regulation 63 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Kalpataru Projects International Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Kalpataru Projects International Limited (hereinafter referred to as “the Company”) for the quarter ended 30 June 2026 (“the Statement”) (in which are included interim financial results of four joint operations). 2. This Statement, which is the responsibility of the Company’s management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”). Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Attention is drawn to the fact that the figures for the three months ended 31 March 2026 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit. 5. Based on our review conducted as above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We did not review the interim financial results of two joint operations included in the Statement of the Company, whose results reflect Company's share of total revenues of Rs. 69.39 crores, Company's share of total net profit after tax of Rs. 2.09 crores and Company's share of total comprehensive income of Rs. 2.09 crores, for the quarter ended 30 June 2026, The interim financial results of these joint operations have been reviewed by the other auditor whose reports have been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the reports of such other auditor. Our conclusion is not modified in respect of this matter.
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B S R & Co. LLP Limited Review Report (Continued) Kalpataru Projects International Limited Page 2 of 2 7. The Statement includes the interim financial results of two joint operation which have not been reviewed, whose interim financial results reflect Company's share of total revenues of Rs. 26.38 crores, Company's share of total net (loss) after tax of Rs. (1.97) crores and Company's share of total comprehensive (loss) of Rs. (1.97) crores, for the quarter ended 30 June 2026, as considered in the Statement. According to the information and explanations given to us by the management, these interim financial results are not material to the Company. Our conclusion is not modified in respect of this matter. For B S R & Co. LLP Chartered Accountants Firm’s Registration No.:101248W/W-100022 Bhavesh Dhupelia Partner Mumbai Membership No.: 042070 11 August 2026 UDIN:26042070PGFSWY1816 Bhaveshkumar Harshadkumar Dhupelia Digitally signed by Bhaveshkumar Harshadkumar Dhupelia Date: 2026.08.11 13:56:19 +05'30'
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KALPATARU PROJECTS INTERNATIONAL LIMITED REGISTERED OFFICE : Plot No. 101, Part III, G.I.D.C. Estate, Sector - 28, Gandhinagar - 382 028 CIN : L40100GJ1981PLC004281 Tel Nos. : +91 79 232 14000; Fax Nos.: +91 79 232 11966 / 71; E Mail : cs@kalpataruprojects.com (Rs. in Crores) For the Year Ended June 30, 2026 (Unaudited) March 31, 2026 (Audited) (Refer Note 3) June 30, 2025 (Unaudited) March 31, 2026 (Audited) 1 Revenue from Operations 5,481.86 6,963.98 5,039.74 23,210.06 2 Other Income 52.41 160.34 23.38 233.46 3 Total income (1+2) 5,534.27 7,124.32 5,063.12 23,443.52 4 Expenses (a) Cost of Materials Consumed 1,700.29 2,457.37 1,740.79 8,338.26 (37.28) 36.31 (44.89) (57.62) 2,412.88 2,802.53 2,173.24 9,502.39 (d) Employee Benefits Expense 518.98 488.66 427.28 1,818.40 (e) Finance Costs 67.66 89.00 83.99 368.03 (f) Depreciation and Amortization Expense 111.68 104.10 93.62 394.83 (g) Other Expenses 399.11 507.25 314.94 1,579.95 Total expenses 5,173.32 6,485.22 4,788.97 21,944.24 5 360.95 639.10 274.15 1,499.28 6 Exceptional Items (Refer Note 6) - (326.68) - (356.16) 7 Profit before tax (5+6) 360.95 312.42 274.15 1,143.12 8 Tax expenses Current tax 113.42 175.85 68.57 387.26 Deferred tax (17.83) (83.27) 4.82 (75.89) 9 Profit for the period (7-8) 265.36 219.84 200.76 831.75 10 Other Comprehensive Income (net of tax) (50.11) 108.99 102.76 351.58 11 Total Comprehensive Income (net of tax) (9+10) 215.25 328.83 303.52 1,183.33 12 34.16 34.16 34.16 34.16 13 Other equity 8,180.38 14 Earnings per share (EPS) of (Face value of Rs. 2 each) (not annualised) a) Basic 15.54 12.88 11.76 48.71 b) Diluted 15.54 12.88 11.76 48.71 See accompanying notes to the financial results STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 Sr. No. (b) Changes in Inventories of Finished Goods and Work- in-Progress Particulars Paid up equity share capital (Face value of Rs. 2 each) (c) Erection, Sub-Contracting & other Project Expenses Profit before exceptional Items and tax (3-4) For the Quarter Ended
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1 2 3 4 5 6 For and on behalf of the Board of Directors For KALPATARU PROJECTS INTERNATIONAL LTD. Manish Mohnot Managing Director & CEO DIN : 01229696 Please visit our website: www.kalpataruprojects.com The Consolidated financial results of the Company contain segment information as per Ind AS 108 - Operating Segments accordingly separate segment information is not included in the Standalone financial results. The above results were reviewed by the Audit Committee and approved by the Board at their meeting held on August 11, 2026. The statutory auditors have conducted review of these financial results in terms of regulation 33 and regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and have issued unmodified review report. Additional disclosure as per Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 are attached as annexure I. The figures for the quarter ended March 31, 2026 are the balancing figures between audited figures in respect of full financial year and the published year to date figures upto third quarter ended on 31st December 2025, which were subject to limited review by auditors. Dated : August 11, 2026 Place : Mumbai Exceptional Items includes: (A) For the quarter ended December 2025, an incremental provision of Rs. 29.48 crore in respect of employee benefit obligations arising from the Labour Codes notified by the Government of India on 21st November 2025. (B) For the quarter ended March 2026: (i) Gain of Rs. 188.36 crore arising on disposal of the Company’s entire 100% equity interest in Vindhyachal Expressway Private Limited. Consequently, Vindhyachal Expressway Private Limited ceased to be a subsidiary of the Company; and (ii) Impairment provision aggregating Rs. 515.04 crore in respect of investments in, loans advanced to and receivables from Estrela Reluzente Participações S.A. and its step-down subsidiary , Fasttel Engenharia S.A., following the commencement of judicial reorganisation proceedings in Brazil. Kurukshetra Expressway Private Limited (“KEPL”), a joint venture of the Company, terminated the Concession Agreement with the National Highways Authority of India (“NHAI”) in 2021, pursuant to a Force Majeure event. In the arbitration proceedings initiated by KEPL for Termination Payment and other claims against NHAI, KEPL was awarded, inter alia, Termination Payment along with interest thereon. NHAI challenged the awards under Section 34 of the Arbitration and Conciliation Act, 1996. Subsequently, vide order dated 28 July 2026, the Hon’ble High Court partially set aside the arbitral award relating to the claim of Termination Payment and the interest thereon. Based on the assessment of the Management and the legal advice obtained, no provision is considered necessary in the financial statements of KEPL or the Company in respect of the aforesaid matter. The Management will continue to monitor further developments and reassess the accounting impact, including the adequacy of disclosures, as and when required. Manish Dashrathmal Mohnot Digitally signed by Manish Dashrathmal Mohnot Date: 2026.08.11 13:31:24 +05'30' Bhaveshkumar Harshadkumar Dhupelia Digitally signed by Bhaveshkumar Harshadkumar Dhupelia Date: 2026.08.11 13:59:39 +05'30'
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Annexure I For the Year ended Particulars June 30, 2026 (Unaudited) March 31, 2026 (Audited) (Refer Note 3) June 30, 2025 (Unaudited) March 31, 2026 (Audited) Debenture Redemption Reserve (Rs. in Crores) - - - - Capital Redemption Reserve (Rs. in Crores) 1.16 1.16 1.16 1.16 Net Worth* (Rs. in Crores) 8,429.79 8,214.54 7,488.43 8,214.54 Debt Equity Ratio Times 0.26 0.35 0.46 0.35 Debt Service Coverage Ratio (DSCR) Times 1.10 1.80 2.91 2.02 Interest Service Coverage Ratio (ISCR) Times 6.54 4.61 4.51 4.33 Current Ratio Times 1.31 1.30 1.32 1.30 Long Term Debt To Working Capital (LTDWC) Times 0.17 0.25 0.33 0.25 Bad Debts To Account Receivable Ratio Percent - - - - Current Liability Ratio Times 0.96 0.95 0.91 0.95 Total Debts To Total Assets Times 0.09 0.11 0.14 0.11 Debtors Turnover (Annualised) Days 121 94 130 120 Inventory Turnover (Annualised) Days 98 65 83 69 Operating Margin Percent 8.9% 9.6% 8.5% 8.7% Net Profit Margin Percent 4.8% 3.2% 4.0% 3.6% *As per section 2(57) of the Companies Act For the Quarter Ended Additional disclosure as per Regulation 52 (4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Re quirements) Regulations, 2015: Net Worth = Share capital + Reserves (excluding revaluation reserve) Debt Equity Ratio = Total Debt / Equity (excluding revaluation reserve) DSCR = (PAT+Interest+Depreciation+Loss/gain on sale of PPE) / (Interest + Lease payment + Principal Repayment of long term debt) ISCR = (PAT+Interest+Depreciation+Loss/gain on sale of PPE) / Interest expenses Current Ratio = Current Assets / Current Liabilities LTDWC = Long term debt (Including current maturities of long term borrowing) / Net Working capital (excluding current maturitie s of long term borrowing) Bad Debts To Account Receivable Ratio = Bad debt written off / Average trade receivables Total Debts To Total Assets = Total Debts / Total Assets Current Liability Ratio = Current Liability / Total Liability Debtors Turnover = Average Accounts Receivable / Net Sales Inventory Turnover = Average Inventory / Cost of goods sold Operating Margin = Operating profit / Sales (Operating profit is profit before exceptional items and tax, depreciation, finance costs and other income) Net Profit Margin = Profit after tax / Sales
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Corporate Office: Kalpataru Synergy, 7th Floor, Opp. Grand Hyatt, Santacruz (E), Mumbai - 400055. India | Tel: +91 22 3064 2100/+91 22 6885 1500 Registered Office: Plot No. 101, Part-III, G.I.D.C. Estate, Sector - 28, Gandhinagar - 382 028, Gujarat, India | Tel: +91 79 2321 4000 Email: info@kalpataruprojects.com | Website: www.kalpataruprojects.com | CIN: L40100GJ1981PLC004281 KPIL/26-27 11 th August, 2026 BSE Limited Corporate Service Department Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 Scrip Code: 522287 Subject: Statement of Deviation or Variation in the use of proceeds of issue of listed Non-Convertible Debt securities Respected Sir/Madam, Please find enclosed herewith a statement indicating no deviat ion or variation in utilization of proceeds of Non-Convertible Debt securities for the quarter ended June 30, 2026. This disclosure is being made in terms of the SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD- 1/P/CIR/2025/0000000103 dated 11 th July, 2025 read with Regulations 52(7) and 52(7A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kindly take the same on your record. Thanking you, Yours faithfully, For Kalpataru Projects International Limited Shweta Girotra Company Secretary Enclosed: As above SHWETA GIROTRA Digitally signed by SHWETA GIROTRA Date: 2026.08.11 13:49:52 +05'30'
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Corporate Office: Kalpataru Synergy, 7th Floor, Opp. Grand Hyatt, Santacruz (E), Mumbai - 400055. India | Tel: +91 22 3064 2100/+91 22 6885 1500 Registered Office: Plot No. 101, Part-III, G.I.D.C. Estate, Sector - 28, Gandhinagar - 382 028, Gujarat, India | Tel: +91 79 2321 4000 Email: info@kalpataruprojects.com | Website: www.kalpataruprojects.com | CIN: L40100GJ1981PLC004281 Annexure A. Statement of utilization of issue proceeds: Name of the Issuer ISIN Mode of Fund Raising (Public issues/ Private placement) Type of instrument Date of raising funds Amount raised Funds utilized Any deviatio n (Yes/ No) If 8 is Yes, then specify the purpose of for which the funds were utilized Remarks, if any 1 2 3 4 5 6 7 8 9 10 Kalpataru Projects International Limited Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable No Not Applicable None B. Statement of deviation/ variation in use of Issue proceeds: Particulars Remarks Name of listed entity Kalpataru Pro jects International Limited Mode of fund raising Not Applicable Type of instrument Not Applicable Date of raising funds Not Applicable Amount raised Not Applicable Report filed for quarter ended 30 th June, 2026 Is there a deviation/ variation in use of funds raised? No Whether any approval is required to vary the objects of the issue stated in the prospectus/ offer document? Yes/ No If yes, details of the approval so required? Not Applicable Date of approval Not Applicable Explanation for the deviation/ variation Not Applicable Comments of the Audit Committee after review Not Applicable Comments of the Auditors, if any Not Applicable Objects for which funds have been raised and where there has been a deviation/ variation, in the following table: Original object Modified object, if any Original allocation Modified allocation, if any Funds utilized Amount of deviation/ variation for the quarter according to applicable object (in Rs. Crore and in %) Remarks, if any Not Applicable Deviation could mean: a. Deviation in the objects or purposes for which the funds have been raised. b. Deviation in the amount of funds actually utilized as against what was originally disclosed. Name of signatory: Shweta Girotra Designation: Company Secretary Date: 11 th August, 2026 SHWETA GIROTRA Digitally signed by SHWETA GIROTRA Date: 2026.08.11 13:49:22 +05'30'