Kalpataru Projects International (KPIL): Two UAE Oil & Gas EPC contracts above ₹4,000 crore in fifteen days
On 13 October 2026, **Kalpataru Projects International Limited** (KPIL, NSE: KPIL; BSE: 522287) filed that it had secured a major Oil & Gas Engineering, Procurement and Construction (EPC) contract in the UAE, with a value exceeding ₹4,000 crore. The filing follows an announcement on 28 September 2026 that the company had received a Letter of Award (LoA) for a separate UAE Oil & Gas EPC contract, also valued at over ₹4,000 crore. Two “major” Oil & Gas wins in the Middle East landed inside a fortnight, adding to a cluster of order disclosures that began in June 2026.
Two major orders in fifteen days
- 13 October 2026: “KPIL announced that it has secured a major Oil & Gas EPC contract in the UAE, with a value exceeding ₹4,000 crore.” (BSE filing, 13 Oct 2026)
- 28 September 2026: “Kalpataru Projects International Ltd (KPIL) received a Letter of Award (LoA) for an Engineering, Procurement and Construction (EPC) gas pipeline project in the UAE, classified as a ‘Major’ order with an estimated value exceeding ₹4,000 crore.” (BSE filing, 28 Sep 2026)
Both are EPC contracts in the Oil & Gas segment, and both are classed as “Major”—the highest size category the company uses. No further breakdown of scope, duration, or client was provided.
Other contract wins from June to September 2026
Before the UAE Oil & Gas awards, the company disclosed three other packages of new orders, showing activity across Power T&D, Buildings & Factories, Water, and industrial‑plant segments.
- 30 June 2026: Orders aggregating approximately ₹2,957 crore, spanning Power Transmission & Distribution (India and overseas), Buildings & Factories (India), and a Water project in the Middle East. The Water project was secured via a joint venture/consortium and marked the company’s first entry into the Middle East water market. (BSE filing, 30 Jun 2026)
- 14 August 2026: Orders totalling about ₹3,526 crore, all in India, covering an industrial‑plant EPC order, Power T&D orders, and residential‑building orders. (BSE filing, 14 Aug 2026)
- 24 September 2026: Orders worth approximately ₹2,025 crore, across Power T&D, Buildings & Factories, and Oil & Gas, with projects in both domestic and international markets. (BSE filing, 24 Sep 2026)
Q1 FY27 snapshot: record order book, rating upgrade, and shrinking debt
On 11 August 2026, KPIL released its Q1 FY27 financial results. (BSE filing, 11 Aug 2026) The filing showed:
- Consolidated revenue: ₹6,408 crore (up 4% YoY)
- EBITDA: ₹562 crore (up 7% YoY)
- Net profit: ₹312 crore (up 46% YoY)
- Order book: an all‑time high of ₹66,607 crore
- Net debt: ₹917 crore, down 67% year‑on‑year
- Credit rating: upgraded to IND AA+/Stable by India Ratings
The same filing noted that Q1 FY27 revenue grew 3.8% YoY but fell 17.6% sequentially, while the operating margin came in at 8.8%.
Portfolio restructuring: transmission‑asset sale and Linjemontage listing
Two other events reshaped KPIL’s asset base during the period.
- 25 June 2026: The company completed the sale of its remaining ~26% equity stake in Kohima‑Mariani Transmission Limited to Apraava Energy Private Limited, exiting the transmission SPV entirely. (BSE filing, 25 Jun 2026)
- 25 September 2026: Step‑down subsidiary Linjemontage i Grästorp AB (LMG) was listed on Nasdaq Stockholm under the ticker LMGAB. The IPO was priced at SEK 46 per share, implying a total market value of SEK 2,357 million for LMG. KPIL, through its wholly owned subsidiary Kalpataru Power Transmission Sweden AB, retained approximately 65.9% of LMG and received gross consideration of about SEK 711.5 million, inclusive of the over‑allotment/green‑shoe option and before issue expenses. (BSE filing, 25 Sep 2026)
No INR conversion of the SEK figures appears in the filings, and none is supplied here.
The picture the filings draw
The filings do not contain forward‑looking financial guidance. The Q1 FY27 presentation highlighted a record backlog, and the string of new wins since 30 June 2026 adds to the disclosed order‑book position as of that date, but no updated order‑book total has been filed. The two UAE Oil & Gas contracts, both exceeding ₹4,000 crore each, are classified as “Major” orders, and no further details—timeline, margins, or counterparty—were included. The facts end at what the company has chosen to disclose.
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The filing evidence
| Date | What the filing said | Detail | Source |
|---|---|---|---|
| 30 Jun 2026 | Kalpataru Projects International Ltd (KPIL) secures new orders totaling approximately ₹2,957 crore across its Power T&D, Buildings & Factories, and Water business verticals, including a strategic entry into the Middle East water market. | KPIL announced that it, along with its international subsidiaries, has received new orders or notifications of award aggregating approximately ₹2,957 crore. The orders span the Power Transmission & Distribution business in India and overseas, Buildings & Factories in India, and a Water project in the Middle East secured via a joint venture/consortium. | filing |
| 14 Aug 2026 | Kalpataru Projects International secures new orders worth approximately ₹3,526 crore across T&D, industrial plant, and residential building segments in India. | Kalpataru Projects International Limited (KPIL) has been awarded new orders / notifications of awards totaling about ₹3,526 crore, comprising an EPC order for an industrial plant, power transmission & distribution orders, and residential building orders, all within India. | filing |
| 24 Sept 2026 | Kalpataru Projects International secures new orders worth ₹2,025 crore across T&D, B&F, and Oil & Gas businesses in India and international markets. | Kalpataru Projects International Ltd (KPIL) announced new order wins and notifications of award totalling approximately ₹2,025 crore, spanning Power Transmission & Distribution, Buildings & Factories, and Oil & Gas segments, with projects in both domestic and international markets. | filing |
| 28 Sept 2026 | KPIL secures major Oil & Gas EPC contract valued over ₹4,000 crore in the UAE. | Kalpataru Projects International Ltd (KPIL) received a Letter of Award (LoA) for an Engineering, Procurement and Construction (EPC) gas pipeline project in the UAE, classified as a 'Major' order with an estimated value exceeding ₹4,000 crore. | filing |
| 13 Oct 2026 | Kalpataru Projects International wins a major oil & gas EPC contract in the UAE valued at over ₹4,000 crore. | KPIL announced that it has secured a major Oil & Gas EPC contract in the UAE, with a value exceeding ₹4,000 crore. | filing |
| 25 Jun 2026 | Kalpataru Projects International completes divestment of its entire stake in Kohima-Mariani Transmission Limited to Apraava Energy. | Kalpataru Projects International Limited announced the completion of the sale and transfer of its remaining ~26% equity stake in Kohima-Mariani Transmission Limited (KMTL) to Apraava Energy Private Limited, thereby divesting its entire shareholding in KMTL. | filing |
| 11 Aug 2026 | Kalpataru Projects International reports strong Q1 FY27 results with 46% YoY net profit surge and all-time high order book of ₹66,607 crore, along with credit rating upgrade to IND AA+. | KPIL announced its Q1 FY27 financial results, showing consolidated revenue of ₹6,408 crore (up 4% YoY), EBITDA of ₹562 crore (up 7% YoY), and net profit of ₹312 crore (up 46% YoY). The order book reached a record ₹66,607 crore, and the company received a credit rating upgrade to IND AA+/Stable from India Ratings. Net debt fell 67% YoY to ₹917 crore. | filing |
| 11 Aug 2026 | Q1FY27 consolidated revenue was ₹6407.97 crore, up 3.8% YoY but down 17.6% QoQ, while operating margin improved to 8.8% and PAT rose 45.9% YoY; the trajectory is margin-positive but growth has decelerated sharply from FY26. | filing | |
| 14 Aug 2026 | Kalpataru Projects International receives tax demand notice of ~₹38 lakh from Eswatini Revenue Service for alleged double claim of input VAT, which it plans to contest. | Kalpataru's branch in Eswatini received a notice from the Eswatini Revenue Service demanding tax and penalty (approx. ₹38 lakh) for the period Nov 2024-Jan 2026, alleging double claim of input VAT on construction material expenses. The company intends to file objections. | filing |
| 25 Sept 2026 | KPIL lists its Swedish step-down subsidiary Linjemontage on Nasdaq Stockholm at SEK 46/share, valuing it at SEK 2,357 million and retaining ~65.9%, with gross proceeds of ~SEK 711.5 million | Kalpataru Projects International's step-down subsidiary Linjemontage i Grästorp AB has been successfully listed on Nasdaq Stockholm under the ticker LMGAB. The IPO was priced at SEK 46 per share, implying a total market value of SEK 2,357 million for LMG. KPIL, through its wholly owned subsidiary Kalpataru Power Transmission Sweden AB, retains approximately 65.9% of LMG and will receive gross consideration of about SEK 711.5 million, including the over-allotment/green shoe option, subject to issue expenses. | filing |
Quick answers
- What did Kalpataru Proj. disclose?
- On 13 October 2026, Kalpataru Projects International Limited (KPIL, NSE: KPIL; BSE: 522287) filed that it had secured a major Oil & Gas Engineering, Procurement and Construction (EPC) contract in the UAE, with a value exceeding ₹4,000 crore.
- What are the key numbers?
- The filings do not contain forward‑looking financial guidance. The Q1 FY27 presentation highlighted a record backlog, and the string of new wins since 30 June 2026 adds to the disclosed order‑book position as of that date, but no updated order‑book total has been filed.
Research and educational content only. Not investment advice. Drafted from regulatory filings and published automatically — see our editorial policy.