KPI Green Energy Limited submitted to the Exchange transcript of Earnings Conference Call held on May 12, 2026 at 11:00 AM to discuss the audited standalone & consolidated financial results ....
KPIGREEN · price
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KPI Green Energy reported strong FY26 results with total income of INR2,742 crore (up 56% YoY), EBITDA of INR1,006 crore (up 73% YoY), and PAT of INR509 crore (up 57% YoY). Over 5 years, the company achieved 92% CAGR in sales and 104% CAGR in profit. Total assets nearly doubled from INR4,792 crore to INR9,882 crore. Installed capacity stands at 1.62 GW with 4.64 GW work-in-progress, taking the total portfolio to ~6.26 GW. The CPP order book stands at approximately INR5,246 crore (~2.7 GW). The company issued India's first credit-enhanced green bond (INR670 crore) and obtained interstate and intrastate trading licenses. Management reaffirmed a 40-50% YoY growth target for FY27, citing a robust project pipeline across solar, wind, BESS, and floating solar. Sundrops Energia (subsidiary handling BESS) is slated for an IPO this financial year. Promoter pledge is expected to be fully released by March 2027 upon completion of certain IPP projects. Interest costs peaked at around INR182 crore in FY26 with management guiding peak burden at ~INR300 crore as IPP projects are phase-commissioned.
The company delivered robust financial growth, but the stock has underperformed due to high interest costs (~130% increase) and declining ROCE as heavy IPP capex is being absorbed before full revenue kicks in from FY27-28. Management expects ROE to stabilise this year before recovering in FY28, suggesting near-term EPS pressure before it becomes accretive.