K.P. ENERGY LIMITED

Provides wind energy infrastructure services — primarily Balance of Plant (BOP) and Engineering, Procurement and Construction (EPC) work — that make up 97.6% of FY26 segment revenue at ₹1,451.73 cr, with the balance 2.4% (₹35.82 cr) from sale of power generated by its own independent power producer (IPP) wind assets. The order book stood at ~2 GW worth approximately ₹3,000 cr, with management guiding that the majority will convert to revenue in FY27, and the company also runs an Operation & Maintenance Services line visible across quarterly disclosures. It operates a 48.5 MW wind IPP portfolio with 200 MW in development at ~₹1,700 cr project cost and an O&M portfolio of 646 MW. It commissioned a 50.4 MW wind project at Vanki, Kutch with 16 Suzlon 3.15 MW turbines for NTPC Renewable Energy in July 2026, and won a 100 MW PPA with GUVNL at ₹3.435 per unit for 25 years. Materials are the dominant cost at 69% of revenue, with capex at 14.5% of revenue. Customers include utility-scale renewable energy developers such as NTPC Renewable Energy, group entities (about 50% of the order book), and state utilities like GUVNL.