KPI Green Energy (542323) Q1 25/26 earnings summary

Executive summary

• Achieved record revenue for the fifth consecutive quarter, reaching ₹614 crore in Q1 FY26, up 75% year-over-year from ₹350 crore, driven by strong execution and expansion in IPP and CPP segments.

• PAT reached ₹111 crore, a 68% increase year-over-year, with basic EPS up 44% to ₹5.28.

• Installed capacity surpassed 1 GW, with over 3 GW in orders and a land bank exceeding 6,275 acres.

• Major projects under execution include 250 MW solar, 370 MW hybrid, and 150 MW wind, with phased completion by September 2026.

• Strategic alliances and MOUs signed for battery storage, green hydrogen, and EV infrastructure to enhance technological edge.

Financial highlights

• Q1 FY26 revenue reached ₹614 crore, up 75% year-over-year; EBITDA rose 64% to ₹217 crore; PBT increased 64% to ₹149 crore.

• PAT grew 68% to ₹111 crore; basic EPS up 44% to ₹5.28.

• Cash profit of ₹163 crore, marking 92% year-over-year growth.

• Operating expenses increased 85% year-over-year.

• Interest cost increased 41% year-over-year to ₹38 crore; depreciation and amortization rose 114% to ₹30 crore.

Outlook and guidance

• Confident in achieving 60%-70% top-line growth for FY26, in line with previous guidance.

• Ambitious target of 10+ GW installed capacity by 2030, with major projects and new tenders in progress.

• Actively developing green hydrogen, BESS, offshore wind, and floating solar projects.

• PAT margin expected to be sustained at 15%-20% as IPP contribution increases.

• Revenue growth of 60% projected for both FY26 and FY27, supported by a strong order pipeline.