KPI Green Q1 FY27: Revenue up 16%, PAT down YoY on higher depreciation
KPIGREEN · price
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KPI Green Energy reported Q1 FY27 total income of INR710 crore (up 16% YoY), EBITDA of INR262 crore (up 21%), with EBITDA margin improving to 37% from 35%. However, PAT fell to INR95 crore from INR111 crore due to higher depreciation and finance costs on newly commissioned IPP assets. Portfolio reached 6.94 GW (up 71% YoY), with CPP order book above INR5,000 crore. Management guided PAT margins below the earlier 16-18 percent FY27 target, citing asset stabilization and geopolitical cost pressures. Subsidiary Sun Drops posted about INR150-155 crore revenue.
Near-term PAT pressure from new IPP costs could weigh on the stock, though strong order book and revenue growth support recovery as plants stabilize in FY28.