Kalpataru Projects: Emkay sees 36% upside – West Asia risk low, data cetres driving growth
Emkay Global maintains a Buy rating on Kalpataru Projects International (KPIL) with a target price of Rs 1,450, citing limited exposure to West Asia and strong growth drivers in T&D and B&F segments. The company's management is confident in achieving a 20-25% revenue CAGR for Power T&D and an 18-20% CAGR for B&F, driven by energy transition and grid modernisation.