The Company reported EBIT of Rs.558 million in June 08 as against Rs. 604 million in June 07. PBT for the quarter is Rs. 401 million as compared to Rs. 515 million in June 07. The overall margin for the current quarter is impacted by Rs. 120 million on account of revaluation of foreign currency assets & liabilities as per AS-11. The order book (including L1) position of the company stood at Rs. 34 billion.

JMC projects (India) Ltd (52% subsidiary) has reported revenue of Rs 3.13 billion, an increase of 73% for June, 08 as against Rs. 1.80 billion in the corresponding period of the previous year. PBT has increased by 43% to Rs. 120 million, from Rs. 84 million in the corresponding period of the previous year. PAT has increased by 49% to Rs. 79 million from Rs. 53 million. The present order backlog of JMC is Rs 24 billion.

On a consolidated basis the revenue of KPTL and JMC has grown by 43% to Rs 7.93 billion as compared to Rs 5.53 billion for the same quarter in the previous year.

Key Highlights:

On a consolidated basis (KPTL + JMC) the company has reported revenue of Rs.27 Billion (USD 675 Mn) and consolidated net profit after tax of Rs.1.80 Billion (USD 45 Mn) for the year 2007-08, which is a growth of 65% on revenue and 10% on profits as compared to previous year.

Kalpataru Power is adding more capacity and countries to continue its growth momentum. The Company plans to further increase tower manufacturing capacity by 24000 MTs p.a, which will be operational from September 08 at its main plant at Gandhinagar, making it among the largest tower manufacturing capacity at single location in the world. Post addition, the capacity of the company would be 108,000 MTs per annum. The Company has forayed into the fast growing Telecom sector for turnkey jobs, with some success from BSNL & private sector telecom players.

In last one year KPTL made break through for tower exports in developed countries like USA and Canada by securing orders from power utilities for supply of transmission towers. The International Division continues to focus on emerging markets and consolidate its presence in Africa, Middle East and South East Asia. The Company will strive for a healthy mix of international and local orders to ensure the optimum mix of risk and profitability.

The company’s present order book position (including L1) stood in excess of Rs. 34 Billion (USD 850 Mn) and consolidated order book of the group (KPTL and JMC) is in the range of Rs. 59 Billion (USD 1.47 Bn). The company enjoys a healthy mix of variable priced and fixed price contracts.

KPTL is executing the largest feeder separation/distribution works for MSEDCL worth Rs 10 Billion and the company is on track to complete the execution in the defined time frame. The Infrastructure/Pipelines division has grown in excess of 20% over the last one year with revenues of Rs1.8 Billion (USD 45 Mn) as compared to Rs 1.45 Billion in the previous year.

KPTL expects a growth of at least 25% for the next year in its existing business segments. On a consolidated basis (KPTL + JMC) the company expects a growth of atleast 35% for the next year. To explore further growth the company is looking for opportunities in other infrastructure areas like Power Generation, Airports, Railways and BOT for infrastructure projects.

JMC Projects (India) Limited

JMC Projects, held 52% by KPTL, has shown a robust growth of 83% on gross revenues with revenues of Rs 9.18 Billion (USD 230 Mn) as compared to previous year and 89% growth on PBT with PBT of Rs 0.47 Billion as compared to last year. Besides consolidating its presence in the Factories & Buildings (F&B) sector, JMC has also achieved success into new sectors such as civil construction for power plants, water pipelines & sewerage sector and infrastructure projects.

It has secured large orders from BHEL, NTPC, Alstom and Reliance/ADAG group in the power sector and multiple funded orders from Municipalities of Ahmedabad, Bhopal and Indore for Water & Sewerage sector and from NHAI, MPRDC and Pune Municipality in Road & Bridge sector. In the F & B sector JMC won large orders from Jaypee Greens, Thyagraj Satdium, Sabarmati River Front, Boxtrans Logistics, Vedanta Aluminium, Wipro, RGA Software, Pritech, etc.

Shubham Logistics
Shubham Logistics Ltd, a 75% subsidiary of KPTL, has forayed into warehousing and agriculture logistics parks at various strategic locations in Western India at initial investment commitment of Rs. 1 Billion. The Company expects to have presence in 10 locations during 2008-09 for which construction has commenced.

However, for nine months ending December, 2007, the total revenue of the Company has increased by 11% to Rs. 11,206.90 Million as against Rs. 10,087.80 Million in the same period of the previous year. The key reason for the reduced turnover in the quarter is due to delay in commencement of several projects, primarily due to client related issues.

For the quarter ended 31st December, 2007, PBT reduced by 22% to Rs. 411 Million as against Rs. 526 Million in the previous year. PAT has reduced by 22% to Rs. 302.90 Million as against Rs. 388 Million in the previous year.

For nine months period, PBT has increased by 6% to Rs. 1,375.80 Million as against Rs. 1,299.60 Million in the previous year. PAT has increased by 5% to Rs. 995.80 Million as against Rs. 950.30 Million in the previous year.

We are on track to achieve our target revenue of Rs 1,800 crores for KPTL and Rs 900 crores for JMC, for the current year.