Generates electricity from renewable sources and executes turnkey solar, wind and hybrid power projects for utility and commercial customers. Revenue is overwhelmingly from Sales of Power & Solar Power Plant at ₹1,988.23 crore (99.9% of segment revenue), which combines long-duration power sales from its Independent Power Producer (IPP) portfolio with EPC-based execution of solar and hybrid plants. The IPP business operates solar, wind, hybrid and floating solar assets under long-tenor PPAs, while the Captive Power Project (CPP) / EPC arm builds grid-connected solar PV projects for state utilities and corporates on a turnkey basis — recent examples include a 200 MW (AC) / 269 MW (DC) project for Coal India at the GIPCL Solar Park in Khavda, Gujarat, and a 100 MW (AC) / 128 MW (DC) project for MAHAGENCO at Nagpur. Sales of Plot is a residual line at ₹1.27 crore (0.1%). Materials and EPC inputs are the largest cost, at 52.0% of FY26 revenue, with depreciation at 4.9% and capex at 112.6% reflecting the build-out of the IPP asset base. FY26 total assets reached ₹9,882.06 crore against revenue of ₹2,695.91 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sales of Power & Solar Power Plant (100%), Sales of Plot (0%). Asset-heavy, capex-intensive renewable energy IPP plus EPC contractor.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 230 | 644 | 1,024 | 1,735 | 2,696 |
| EBITDA (ex other income) | 109 | 208 | 337 | 561 | 960 |
| margin % | 47.3 | 32.3 | 32.9 | 32.3 | 35.6 |
| Owners' profit | 46 | 110 | 162 | 320 | 476 |
| EPS, as reported (₹) | 23.94 | 30.33 | 28.17 | 16.23 | 24.13 |
| ROE % · ROCE % | 28.1 · 16.2 | 42.5 · 21.3 | 19.3 · 19.7 | 12.4 · 13.0 | 15.6 · 11.1 |
| Debt / equity (x) | 2.19 | 2.02 | 1.00 | 0.43 | 1.38 |
| Cash from operations | 102 | 159 | (57) | 208 | 424 |
| Capex | (191) | (312) | (86) | (1,505) | (3,035) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 360 | 458 | 569 | 603 | 634 | 663 | 796 | 694 |
| Profit before tax | 97 | 115 | 139 | 149 | 158 | 170 | 214 | 131 |
| Net profit | 70 | 85 | 104 | 111 | 117 | 126 | 155 | 95 |
| EPS (₹) | 5.55 | 6.44 | 5.04 | 5.28 | 5.53 | 5.97 | 7.36 | 4.34 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Sales of Power & Solar Power plant | 796 | 29.5 |
| Sales of Plot | 1 | 0.0 |
| Sales of Power and Solar Power Plant | 1,296 | 48.1 |
| Revenue from Sales of Power & Solar Power Plant | 603 | 22.4 |
| Revenue from Sales of Plot | 0 | 0.0 |
| Total, before eliminations | 2,696 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · KPI Green Energy submits newspaper notice for 18th AGM and e-voting info | compliance | minimal | — | — |
| 5 Sept 2026 · KPI Green Energy shares AGM notice and Annual Report weblink for FY 2025-26 | compliance | minimal | — | — |
| 5 Sept 2026 · KPI Green Energy files FY26 BRSR; turnover Rs 2,696 crore | compliance | low | — | — |
| 5 Sept 2026 · KPI Green Energy FY26 Annual Report shows 56 percent revenue growth | results | high | — | — |
| 5 Sept 2026 · AGM Notice: KPI Green Energy sets Sept 29 meeting; final dividend of Rs 0.40/share proposed | board shareholder meetings | low | — | — |
| 5 Sept 2026 · TDS communication on final dividend Re 0.40 per share for FY26 | corporate actions | low | — | — |
| 5 Sept 2026 · KPI Green sets Sep 22, 2026 record date for FY26 final dividend | corporate actions | high | — | — |
| 3 Sept 2026 · KPI Green Energy 18th AGM scheduled for September 29 2026 via video call | compliance | minimal | — | — |
| 2 Sept 2026 · Board approves re-appointment of Independent Director for second 5-year term | management changes | medium | — | — |
| 2 Sept 2026 · Statutory auditor change at material subsidiary Sun Drops Energia | management changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| EBITDA m. % |
|---|
| NTPC LTD | 3,23,287 | 11.7 | 1.53 | 10.2 | 13.0 | 5.5 | 10.9 | 32.8 |
| ADANI GREEN ENERGY LTD | 2,11,030 | 87.2 | 7.06 | 27.2 | 6.7 | 1.3 | 32.9 | 95.1 |
| JSW ENERGY LIMITED | 96,469 | 47.0 | 2.87 | 15.3 | 8.2 | 1.9 | 22.3 | 59.6 |
| NHPC LTD | 76,724 | 20.2 | 1.59 | 20.1 | 8.7 | 2.7 | 3.8 | 65.7 |
| NTPC GREEN ENERGY LIMITED | 73,604 | 123.0 | 3.84 | 38.8 | 2.7 | 1.2 | — | 90.7 |
| NLC INDIA LIMITED | 36,725 | 11.0 | 1.45 | 9.7 | 14.9 | 5.4 | 12.2 | 34.4 |
| ACME SOLAR HOLDINGS LTD | 28,352 | 41.0 | 5.60 | 19.9 | 9.8 | 2.7 | — | 96.9 |
| SJVN LTD | 25,984 | 40.8 | 1.82 | 16.1 | 4.5 | 2.8 | 12.7 | 65.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.2 | 20.2 | 8 of 25 | 71% |
| P/B | 1.7 | 1.6 | 15 of 26 | 44% |
| ROCE | 8.8 | 2.7 | 5 of 29 | 86% |
| ROE | 15.6 | 6.2 | 3 of 27 | 92% |
| Debt / Equity | 1.4 | 0.7 | 20 of 27 | 27% |
| EBITDA margin | 37.7 | 53.8 | 16 of 24 | 35% |
| Revenue growth | 15.1 | 10.0 | 10 of 24 | 61% |
| Profit growth | (15.0) | 4.2 | 18 of 25 | 29% |
| Market cap | 5574 | 3866 | 14 of 29 | 54% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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