HDFC Securities has given Buy recommendation for Kalpataru Power Transmission with a target price of Rs. 536 in its research report issued on Feb 16, 2021

HDFC Securities’ research report on Kalpataru Power Transmission

Kalpataru Power (KPTL) reported 11% APAT beat. It has received 3QFY21 orders of Rs 29bn and is optimistic on achieving full-year guidance of Rs 90- 100bn. The sale of Alipurduar asset was completed during the quarter, and divestment of Kohima asset is on track. Restructuring of JMC’s BOT road assets is likely to be concluded by June-21. KPTL acquired Fasttel during 4QFY21. It remains on track to achieve net zero debt status, with Indore real estate monetisation picking pace and Shubham Logistics operation performance improving.

Outlook

We maintain BUY on KPTL with an unchanged target price of Rs 536.

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