KPI Green Energy (542323) Q4 24/25 earnings summary

Executive summary

• Achieved record FY25 revenue of ₹1,755.16 crore, up 70% year-over-year, and PAT of ₹325.28 crore, up 101% year-over-year, driven by accelerated project execution, higher capacity utilization, and major contract wins.

• Q4 FY25 revenue reached ₹577.80 crore, up 97% YoY, with Q4 PAT up 142% YoY.

• Installed capacity surpassed 950 MW, with cumulative installed and upcoming capacity at 3.90+ GW.

• Raised ₹1,000 crore via QIP, improved credit rating to ICRA A Positive, and secured major EPC contracts from Coal India and Mahagenco.

• Signed MoUs with Odisha, Rajasthan, and Madhya Pradesh for large-scale renewable and hybrid projects.

Financial highlights

• FY25 revenue: ₹1,755.16 crore (+70% YoY); Q4: ₹577.80 crore (+97% YoY).

• FY25 EBITDA: ₹580.87 crore (+69% YoY); Q4: ₹169.43 crore (+76% YoY).

• FY25 PAT: ₹325.28 crore (+101% YoY); Q4: ₹104.18 crore (+142% YoY).

• Basic EPS for FY25: ₹16.23 (+73% YoY); PAT margin improved to 18.5%.

• Cash and cash equivalents at year-end: ₹597 crore, up from ₹170 crore last year.

Outlook and guidance

• Targeting 60%-70% annual revenue growth for FY26 and beyond, with strong order book visibility through FY27.

• IPP portfolio to reach 1.5 GW in phases over the next two years, with full revenue impact by FY28.

• Ambition to achieve 10+ GW installed capacity by 2030, expanding into battery storage, green hydrogen, offshore wind, and floating solar.

• Major new orders expected in Q1 and Q2 to further drive growth.