Buy Kalpataru Power Transmissions, target price Rs 635: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has buy call on Kalpataru Projects International( earlier Kalpataru Power Transmissions) with a target price of Rs 635. The current market price of Kalpataru Power Transmissions is Rs 627.7. Jayesh Bhanushali recommended to keep stoploss at Rs 578.

Kalpataru Projects International, incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 10299.90 Crore) operating in Power sector.

Kalpataru Projects International key Products/Revenue Segments include Income from EPC,Contracts,& Others, Transmission Lines, Towers & Structures, Scrap, Others and Export Incentives for the year ending 31-Mar-2023.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 4896.00 Crore, up 22.22 % from last quarter Total Income of Rs 4006.00 Crore and up 17.44 % from last year same quarter Total Income of Rs 4169.00 Crore. Company has reported net profit after tax of Rs 140.00 Crore in latest quarter.

Investment Rationale
The stock has given a flag pattern breakout.

Promoter/FII Holdings
Promoters held 41.08 per cent stake in the company as of 30-Jun-2023, while FIIs owned 8.16 per cent, DIIs 42.41 per cent.