The Company has also been successful in securing two more turnkey Projects in Algeria worth Rs.127 crores (USD 29 Million) for establishment of 400 KV Berrouuaghi-EI Khemis and 220 KV A Bir Ghebalou Transmission Line Projects by Sonelgaz, Algeria. The Company has also received Letter of Intent for a 132 KV Transmission Line Project worth Rs.153 crores (USD 35 Million) by EEPCO, Ethiopia. These are in addition to the earlier 400 KV Project of USD 30 Million secured in Algeria in July’05 and USD 22 million 132 KV project from Kahramaa Qatar in Feb 05, taking the order booking of international turnkey jobs in excess of Rs 500 crores.

The Company has also recently secured contracts worth Rs.125 crores for 400 KV Transmission Lines from Nagda to Jalod and RAPP (Kankroli) from Power Grid Corporation of India Ltd.(PGCIL) and further Tower supplies orders worth Rs.39 crores.

Including the orders as stated above, the current order backlog of the Company stands at approx .Rs. 2000 crores (including expected orders, where the company is fairly placed).

The company’s 7 Mw ( net) Ganganagar biomass power project, one of the first registered projects to get CDM benefits, has become one of the first three projects across the world, wherein the UNFCCC has approved the issuance of Certified Emission Reductions (CERs). The company had submitted its Verification and Monitoring report upto June 05, which has been approved by the UNFCCC, the first from any Indian project.

Our associate company M/s. JMC Projects (India) Ltd., in which Kalpataru Power Transmission Ltd holds a 48.60% stake, after successful completion of its Rights issue, has also been successful in securing two NHAI Projects(National Highway Authority of India) in participation with another consortium partner for 4 Lane Highways of 61 Kms from Trichi to Torarpurchi worth Rs.205 crores and 65 Kms from Torarpurchi to Madurai worth Rs.215 crores. JMC’s share is 50% in above two orders. These are the largest orders secured by JMC in Road Projects in Infrastructure area.

The PBT has jumped by 176% to Rs.13.58 crores as against Rs.4.92 crores in the corresponding quarter. The PAT has also jumped by 185% to Rs.9.46 crores as against Rs.3.32 crores in the corresponding period of previous year.

Major Achievements of the Company:

• The Company has made an successful foray into rural electrification sector by further securing orders worth over Rs 190 crores for 11/33 KV distribution networks, in addition to its earlier secured Rs 70 crores jobs.
• The Company has been recently received Letter of Intent for another Turnkey Contract worth USD 30 Millions (Rs.130 crores) for 400 KV Transmission Line Project by Sonelgaz, Algeria.
• The total order booking (including expected orders wherein fairly placed/L1 position) is in excess of Rs.1700 crores. These include further turnkey jobs in Africa/ South East Asia, wherein company is well placed, besides domestic jobs for Transmission and Distribution projects
• The new Transmission Line fabrication plant with capacity of 18,000 MTs has been inaugurated at Gandhinagar on 30th July, 2005, which has been commissioned in record period of 7 months. To cater to customer demands, the capacity is being enhanced to 24,000 MTs by October, 2005, taking the overall capacity to 76,000 MTs p.a.
• The Company is second company in India to get UNFCCC Registration for its Certified Emission Reductions, under the CDM mechanism of Kyoto Protocol (CER’s or Carbon Credits) for its 7.8 MW Biomass Power Plant at Padampur, Gangangar. The monitoring study for CERs generated is already submitted to the validators.

Kalpataru Power Transmission Ltd, a leader in Transmission Line Contracting in domestic as well as in overseas market, has shown a powerful performance by reporting 56% increase in the gross turnover for the financial year 2004-2005 to Rs 567 Crores from Rs 362 Crores. The PBT is Rs 43.46 Crores (up by 137%) for the year against Rs 18.34 Crores in the previous year and PAT is Rs 28.72 Crores (up by 103%) against Rs 14.12 Crores for the previous year.

The Board recommended an annual dividend of 50% as compared to 30% in the previous year.

The Profit before Tax (PBT) for the quarter has increased by more than 128% to Rs 18.80 Crores from Rs 8.23 Crores for the same period in the last year. The gross turnover for the quarter has increased by 56% to Rs 172 Crores from Rs 110 Crores for the corresponding quarter of previous year.

The company has made an ambition foray in the Rural Electrification Sector by securing contracts for 11/33 KV distribution networks.

Major Achievements of the company:

Kalpataru Power delivers a powerful performance in Q3 FY 2004 - 05 - Net profit up by 147% (over Q3 FY 2003- 04)

Mumbai, January 29, 2005: Kalpataru Power Transmission Ltd (KPTL), a leading Transmission Line player has shown a powerful performance by reporting an increase of 147% in the net profit for the third quarter Q3 of FY 2004-05 to Rs 8.42 Cr from Rs 3.41 Crores in Q3 of FY 2003-04.

The Profit Before Tax (PBT) has increased by more than 184% to Rs 12.54 Crores as compared to Rs 4.41 Crores as of the previous FY. The turnover for the quarter has increased by 59% to Rs 161 Crores from Rs 101 Crores for the corresponding quarter of previous year.

During the first 9 months of the current FY, KPTL has achieved spectacular performance by achieving a sales turnover of Rs 385 Crores (up as against Rs 362 Crores for the full previous year). The PBT is Rs 24.66 Crores for the first 9 months against Rs 18.34 Crores in the full previous year and PAT is Rs 16.58 Crores against Rs 14.12 Crores for full previous year.

Major Achievements of the company:

• Completed 4 prestigious Power Grid projects involving approx 900 Km of 400 KV D/C Transmission Lines through Rihand-Allahabad-Kanpur-Mainpuri-Ballabhgarh ahead of original schedule. Work included over 76,000 M3 of concreting, 34,000MT’s of supply and erection, river crossing, pile foundations etc.
• After successful completion of its earlier turnkey 380 KV / 400 KV jobs in Turkey and Algeria, it has completed overseas turnkey project of 330 KV S/C Transmission Line project for ZESCO, Zambia within record period of 9 months, ahead of contractual schedule. The company is pre-qualified and bidding in multiple overseas markets, including for Gulf Grid Project.
• The company has been recently awarded USD 21 Mn (Rs 93 Crores) turnkey EPC contract for 132 Kv D/C Transmission Line project by KAHRAMAA, Qatar to be completed in period of 20 months.
• Total Order booking (including expected jobs wherein favorably placed) in excess of Rs 1000 Crores, a record high for the company.

Acquisition of Controlling Stake in JMC Projects ( India) Ltd:

The company has acquired 68,442 (1.47%) Equity Shares of JMC Projects (India) Ltd (JMC) under Public Offer dated 9th November 2004. It is in the process of completing the purchase formalities of promoter's stake upto 18, 81,906 (40.50%) Equity Shares of JMC as per MOU dated 1st October 2004 and SPA dated 14th October 2004.

JMC Projects is a Civil Contracting company with revenues in excess of Rs 200 Crores, with a leadership position in construction of Factories, Industrial Structures, Commercial / Residential Complexes, Software Parks, Roads/Expressways, Bridges, Metro Stations etc.

Capex plans for year 2005

Capex Plans, which were approved by the Board of Directors include

1. To cater to our growing export requirements, another Tower Fabrication plant at Gandhi Nagar with a capacity of 18,000 MT’s p.a. to be commissioned by May 2005 at an approx cost of Rs 10 Crores. Overall capacity to reach 72,000 MT’s p.a. – one of the largest in the World!
Division set up for construction of cross-country Oil & Gas Pipelines .A Gas Terminal Station under implementation for GSPL. Investment in Equipments of upto Rs 30 Crores is underway.
Another Biomass based Power Plant of 7 MW (net) is planned in Tonk district, Rajasthan for commissioning by March 2006 at a cost of Rs 30 Crores.

Change in the Board of Directors

The Board appreciated the outstanding service & contribution of Mr B.D. Bhagtani (Executive Director - Marketing) who retired from the company. Mr. Imtiaz Kanga was elected to the Board of Directors.