KPI Green Energy Limited has informed the Exchange about Credit Rating
KPIGREEN · price
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On the reaction day the stock moved 0.9 pts less than Nifty Microcap 250 and 0.6 pts less than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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ICRA has reaffirmed the Provisional [ICRA]AA+(CE) (Stable) rating on KPI Green Energy's proposed Green Bond (Non-Convertible Debentures) and enhanced the total rated amount from Rs. 75 crore to Rs. 700 crore, of which Rs. 625 crore is a fresh assignment. The enhanced rating is supported by a 65% partial credit guarantee from GuarantCo Limited (rated Moody's A1 Stable). The company's existing bank facility ratings — [ICRA]A (Positive) on long-term facilities and [ICRA]A2+ on short-term facilities — stand reaffirmed as outstanding, with the total rated amount across all instruments rising to Rs. 2,700 crore from Rs. 2,075 crore. KPI Green's consolidated revenue grew around 70% YoY in FY2025 to Rs. 1,736 crore, and its CPP/EPC order book stood at approximately Rs. 4,800 crore as of March 2025.
This is a positive signal for shareholders, as the reaffirmed credit-enhanced rating and a much larger Green Bond facility indicate strong credit quality and improved access to long-term capital for the company's renewable energy expansion. The Positive outlook on the long-term rating, growing order book, and 70% revenue growth support the investment case, though leverage and coverage metrics are expected to moderate in the medium term due to debt-funded utility-scale solar and hybrid projects.