Kalpataru Projects International (KPIL) Q4 24/25 earnings summary

Executive summary

• Achieved record consolidated revenue of ₹22,316 crore in FY25, up 14% year-over-year, with highest-ever EBITDA and PBT, and strong growth in T&D, B&F, and Oil & Gas segments supported by robust execution and a healthy order backlog.

• Consolidated PAT grew 10% YoY to ₹567 crore; standalone PAT rose 22% YoY to ₹648 crore.

• Order book reached ₹64,495 crore as of March 31, 2025, providing strong visibility for future growth.

• Audited consolidated and standalone financial results for FY25 were approved with unmodified opinions from statutory auditors.

• Board recommended a dividend of ₹9 per equity share for FY25.

Financial highlights

• FY25 consolidated revenue: ₹22,316 crore (+14% YoY); standalone revenue: ₹18,888 crore (+13% YoY).

• FY25 consolidated EBITDA: ₹1,834 crore (+13% YoY, margin 8.2%); standalone EBITDA: ₹1,587 crore (+16% YoY, margin 8.4%).

• FY25 consolidated PBT: ₹823 crore (+17% YoY, margin 3.7%); standalone PBT: ₹929 crore (+20% YoY, margin 4.9%).

• EPS (consolidated): ₹35.53 (+13% YoY); standalone EPS: ₹39.30 (+20% YoY).

• Net debt reduced 25% consolidated (to ₹1,953 crore) and 40% standalone (to ₹1,107 crore); net working capital days at 79 (consolidated) and 94 (standalone).

Outlook and guidance

• FY26 order inflow guidance: ₹26,000–28,000 crore, with better margins than previous years.

• Targeting 20%+ revenue growth for both standalone and consolidated.

• Standalone PBT margin guidance: 5.25–5.5%; consolidated PBT margin: 4.5–4.75%.

• Net working capital to remain below 100 days; finance cost below 2% of sales.

• Targeting completion of Vindhyachal Expressway divestment and sale of Indore Real Estate inventory in FY26 to further strengthen balance sheet and returns.