The Hindu Business Line : Kalpataru Power plans 11 commodity warehouses

Mumbai May 23 EPC contracts major Kalpataru Power Transmission Ltd plans to set up 11 modern commodity warehouses in four States before the end of the current fiscal. The warehouses will also offer third-party logistic services.

For the current fiscal, the company has earmarked Rs 50 crore for the venture. In January, it had acquired 65 per cent equity stake in the Rajasthan-based Shree Shubham Logistics Ltd.

Mr Manish Mohnot, Executive Director, Kalpataru Power, told Business Line that the warehouses would come up at major agriculture markets for storing agriculture commodities, perishable goods with refrigeration facilities and offering third-party logistics. The company would initially set up warehouses in Maharashtra, Gujarat, Rajasthan and Madhaya Pradesh. The locations for the warehouses would be based on a feasibility study, which has been carried out by the company.

Pan-India presence

"We aim to build a logistic company offering end-to-end solution with a pan-India presence. The company could be built in many ways, we have started with warehouse business," Mr Mohnot said.

Mr Mofatraj Munot, Chairman, Kalpataru Power, said that the company was addressing the need for modern warehouses in the agriculture markets of India given the boom in the commodity sector.

Mr Munot said that the company exported power transmission towers worth Rs 400 crore in the last fiscal. As the power transmission infrastructure is aging in the US and Canada, it would be expanding its footprint in these markets. A prominent US utility company has already placed an order for transmission towers with the company, he said.

Results

For the quarter gone by, the standalone net profit of Kalpataru Power has increased by 105.91 per cent to Rs 64.45 crore (Rs 31.30 crore). For the year, the net profit has increased by 139.71 per cent to Rs 159.48 (Rs 66.53 crore).

The net sales for the quarter have increased by 44.48 per cent to Rs 522.15 crore (Rs 361.38 crore). The net sales for year have increased by 81.44 per cent to Rs 1,524.85 crore (Rs 840.38 crore).

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