The Kalpataru Projects Council will meet on June 10 to consider fundraising; stock 6%
Kalpataru Projects shares are rising: Shares of Kalpataru Projects International Limited (KPIL) rose as much as 6.46 percent to hit an intraday high of Rs 1,177.50 per share on Thursday.
The increase came after the company announced that its board of directors would meet on June 10 to approve raising funds through the issuance of non-convertible debentures (NCDs) on a private placement basis.
In an exchange filing, Kalpataru Projects said: “This is to inform you that, subject to receipt of necessary approvals, a meeting of the Executive Committee of the Board of Directors of the company is scheduled to take place on Monday, June 10, 2024. inter alia, to to consider and approve the proposal to raise funds through the issuance of non-convertible bonds on a private placement basis.”
Founded in 1981, Kalpataru Projects International Limited (KPIL) is one of India’s largest engineering and construction companies, publicly traded and known for its expertise across a wide range of sectors. These include energy transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, urban infrastructure such as viaducts and metro rail systems, highways and airports.
With a robust presence in over 30 countries and spanning 70 countries worldwide, KPIL is actively involved in executing projects on an international scale. Its continued success is attributed to strong organizational capabilities, advanced technical proficiency and unwavering commitment to maintaining the highest sustainability standards.
Financial performance
Kalpataru Projects International’s profit rose 21 per cent to Rs 169 crore in the March quarter of FY2024 (Q4FY24), compared to Rs 140 crore in the same quarter last year (Q4FY23), mainly due to higher revenues.
Total income stood at Rs 5,991 crore in Q4FY24, compared to Rs 4,896 crore in Q4FY23.
The company’s board recommended a final dividend of Rs 8 per equity share of face value of Rs 2 each for the financial year 2024.
The market capitalization of Kalpataru Projects stands at Rs 18,996.45 crore, according to the Bombay Stock Exchange (BSE).
The stock’s 52-week high is Rs 1,369.95, while its 52-week low is Rs 515.40 per share.
At 10.55 am, the company’s shares were trading 6.04 per cent higher at Rs 1,172.75 per share. In comparison, BSE Sensex rose slightly over 1 percent to 75,144.97.
First print: June 6, 2024 | 11:07 am IST