KPI Green Energy (542323) Q3 24/25 earnings summary

Executive summary

• Achieved record-breaking Q3 FY25 performance and highest-ever turnover for the third consecutive quarter, surpassing previous full-year figures in all key parameters.

• Secured major contracts, including a 300 MW solar PV project for Coal India Ltd and commenced execution of a 100 MW solar project for MAHAGENCO.

• Signed MoUs with Rajasthan and Odisha governments for renewable energy projects, expanding geographic and project portfolio.

• Maintains a robust project pipeline with over 5.2 GW portfolio, 1.4 GW commissioned, and 3.8+ GW order book.

• Strategic expansion into new geographies (Maharashtra, Rajasthan, Odisha) and ongoing execution of large-scale projects.

Financial highlights

• Q3 FY25 consolidated revenue: INR 466.1 crore, up 40.6% year-over-year from INR 331.33 crore.

• Q3 EBITDA: INR 144.54 crore, up 38% year-over-year; profit before tax: INR 114.94 crore, up over 60%.

• Q3 profit after tax: INR 85.15 crore, up 68.26% year-over-year.

• Nine-month revenue: INR 1,177.35 crore, up 59.5% year-over-year, already surpassing FY24 full-year revenue; EBITDA: INR 411.44 crore, up 66%.

• Nine-month profit before tax: INR 302.2 crore, up 93%; profit after tax: INR 221.1 crore, up 86%.

Outlook and guidance

• Minimum revenue growth guidance for FY25 set at 60%.

• Confident in maintaining strong margins and growth momentum, supported by a large order book and expanding land bank.

• Ongoing execution of large-scale projects and new MoUs position the company for continued growth in renewable energy.

• Strategic focus on operational efficiency, cost optimization, and technological innovation to sustain profitability.

• Ongoing focus on timely project execution and cautious expansion to ensure sustainable growth.