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KPIL Acquires 49% Equity Shares In Brazil s Fasttel Engenharia
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Kalpataru completes acquisition of 51 pc stake in Fasttel
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Kalpataru Power Transmission Ltd arm completes acquisition of Fasttel Engenharia Ltda, a Brazilian EPC Company
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Both companies will leverage each other s capabilities to expand presence in Latin American T&D market.
Kalpataru Power completes acquisition of 51 pc stake in Brazil s Fasttel ANI | Updated: Apr 08, 2021 12:56 IST
Mumbai (Maharashtra) [India], April 8 (ANI): Kalpataru Power Transmission Ltd s (KPTL s) wholly-owned subsidiary in Brazil has completed acquisition of 51 per cent controlling stake in Fasttel Engenharia Ltda.
Founded in 1988 Fasttel specialises in engineering, procurement and construction (EPC) and maintenance of power transmission lines, sub-station and distribution systems across various voltage range up to 750 kilovolts. Kalpataru Power Do Brasil Participacoes Ltda, Brazil, a wholly-owned subsidiary of the company, has completed the acquisition of 51 per cent stake in Fasttel along with management control on 7th April, 2021, KPTL said in regualtory filings at stock exchanges on Thursday.
Infrastructure major Kalpataru Power Transmission Ltd (KPTL) has posted more than two-fold jump in consolidated net profit to Rs 308 crore for the December quarter. The company said its revenue grew by 11 per cent year-on-year to Rs 3,501 crore in Q3 FY21 while core earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 383 crore with margin of 10.9 per cent. Significantly, KPTL s standalone net debt declined by 39 per cent to Rs 612 crore and consolidated net debt by 36 per cent to Rs 2,343 crore as December 31, 2020 due to better collections and efficient working capital management. The company s order book stands at Rs 27,532 crore. The board of directors has recommended a dividend of Rs 8.50 per share (that is 425 per cent) for face value of Rs 2 per share.