J. Kumar Infraprojects Limited (JKIL), a pure play EPC company announced its audited financial results for the quarter and year ended March 31, 2023. PBT for FY23 grew by 32% to Rs 374 crores as compared to Rs 283 crores in FY22. PBT margin for FY23 stood at 8.9% as compared to 8.0% in FY22. PAT for FY23 grew by 33% to Rs 274 crores as compared to R 206 crores in FY22. PAT margin for FY23 stood at 6.5% as compared to 5.8% in FY22.
Total order book as on March 31, 2023 stood at Rs 11,854 crores. The order book inter alia includes Metro projects (elevated and underground) contributing ~ 53%, while Flyovers, Bridges & Roads projects contributes ~36% and others contributing ~11%.
On the performance Kamal J. Gupta, Managing Director commented, “The performance for FY 2023 has been remarkable as we continued to accelerate profitable growth and build our position as a leading urban infrastructure EPC company. With a strong foundation in place, we enhanced our capabilities to capitalise on the emerging opportunities. We will continue to expand our reach, invest in our talent pool and unlock efficiencies to deliver a robust performance year after year. During the quarter, Mumbai Metro Project Line 2A and 7, comprised of 35 Kms of viaduct and 30 stations constructed in 2 Phases were dedicated to Mumbaikars by Honourable Prime Minister Shri Narendra Modi ji. The government enhanced focus towards the infrastructure development reinforces the importance of the sector and the crucial role it plays for the growth of economy. It plays a multiplier effect being the second largest employment generating sector. At J.Kumar, we are committed to nation building and fulfilling dreams of world class infrastructure for a new India. We are in the process of constructing a further ~61 Kms of Metro Rail network across India.”
He further said, “Taking cue from the budget announcements, we are confident that the project awarding should gain further momentum in coming quarters. We were awarded projects worth Rs 2,652 Crs during FY 23. We are aggressively targeting projects which we believe will help us to maintain our current growth and margin profile. We are confident of being awarded projects in excess of Rs 5,000 crores during FY 24. Our robust execution capabilities coupled with strong repository of asset base enabling efficient execution reflected in strong revenue growth. With strong financial and technical metrics, we envisage becoming a $1bn revenue company by FY27. Our continued focus on adding and diversifying project portfolio that involves sound technical capabilities, we are optimistic that this will help keep our margins healthy. We at JKIL always work towards successful execution of continuing projects with a scope to scale up further.”
Concluding he said, “With the sustained order inflow and our expertise in executing and delivering projects on time we are optimistic that we shall witness a healthy and sustainable growth. The company has sufficient cash as well as unutilised working capital facilities to undertake large projects and also to ramp up execution of existing projects. The company will continue its focus on working capital management and quality of order book.”
