How were the quarterly results of Kalpataru Power for Q4FY22?
Answer
Answer
For the March 2022, Kalpataru Power reported 1.2% growth in sales revenues yoy at Rs4,135 crore. For FY22 full year, revenues were up 14.12% at Rs14,777 crore. During the quarter, Kalpataru saw a surge in input costs and manpower costs in the EPC business. This resulted in EPC business EBIT down -40.6% at Rs196 crore. During the year, Kalpataru saw sharply lower net cash from operations due to a spike in trade receivables. This has led to additional funds locked up in the working capital cycle.
Kalpataru Power
Rs in Crore
Mar-22
Mar-21
YOY
Dec-21
QOQ
Total Income (Rs cr)
₹ 4,135.00
₹ 4,086.00
1.20%
₹ 3,889.00
6.33%
Net Profit (Rs cr)
₹ 107.00
₹ 174.00
-38.51%
₹ 270.00
-60.37%
Diluted EPS (Rs)
₹ 7.19
₹ 11.68
₹ 18.13
Net Margins
2.59%
4.26%
6.94%
Net profits for the quarter were down -38.51% at Rs107 crore. Due to the sharp fall in profits of the EPC business, debt service coverage and interest service coverage fell sharply on a yoy basis. The working capital strain is evident from a fall in debtors turnover ratio and the inventory turnover in the fourth quarter. Net margins were 2.59% in Q4FY22 quarter compared to 4.26% in Q4FY21 and 6.94% in Q3FY22. Kalpataru has declared dividend of Rs.6.50 per share to shareholders, subject to approval.