- Home
- Results news
- Kalpataru Projects International
- Q2 FY27 results
Kalpataru Projects International Q2 FY27 results: net profit up 23.0% to ₹291.95 crore, revenue up 7.3%
Kalpataru Projects International Limited reported consolidated revenue of ₹7,004 crore and a net profit of ₹291.95 crore for Q2 FY27. Revenue rose 7.3% from the year-ago quarter, while net profit increased 23.0%; against Q1 FY27, revenue rose 9.3% but profit fell 6.3%.
Key points
- Consolidated Q2 FY27 revenue was ₹7,004 crore, up 7.3% year on year and 9.3% from Q1 FY27.
- EBITDA was ₹580.98 crore, with an 8.3% margin, compared with ₹561.46 crore and an 8.6% margin in Q2 FY26.
- Net profit was ₹291.95 crore, up 23.0% from Q2 FY26 but down 6.3% from Q1 FY27; basic EPS was ₹16.92.
- H1 FY27 revenue was ₹13,412.24 crore, up 5.6%, while PAT was ₹603.48 crore, up 33.8%.
- The order book reached ₹71,846 crore, while management reported ₹23,934 crore of year-to-date order inflows.
How did Kalpataru Projects International perform in Q2 FY27?
Kalpataru Projects International reported consolidated revenue of ₹7,004 crore for Q2 FY27, up 7.3% from ₹6,529 crore in Q2 FY26 and 9.3% from ₹6,408 crore in Q1 FY27. EBITDA rose to ₹580.98 crore from ₹561.46 crore a year earlier, while the margin declined from 8.6% to 8.3% and from 8.8% in the previous quarter.
Consolidated profit before tax was ₹397.76 crore, up 23.7% from Q2 FY26 but down 5.4% from Q1 FY27. Net profit was ₹291.95 crore, compared with ₹237.39 crore a year earlier and ₹311.53 crore in the previous quarter; basic EPS was ₹16.92 against ₹14.06 and ₹18.16, respectively.
On the standalone basis, Q2 FY27 revenue was ₹6,212.69 crore and profit after tax was ₹269.02 crore, compared with profit before tax of ₹199.91 crore. The board approved both the standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 7,004 | 6,408 | 6,529 | +7.3% | +9.3% |
| Other income | 44.02 | 77.20 | 23.39 | +88.2% | −43.0% |
| Total expenses | 6,651 | 6,065 | 6,230 | +6.7% | +9.7% |
| EBITDA | 580.98 | 561.87 | 561.46 | +3.5% | +3.4% |
| EBITDA margin | 8.3% | 8.8% | 8.6% | −0.3 pp | −0.5 pp |
| Profit before tax | 397.76 | 420.47 | 321.59 | +23.7% | −5.4% |
| Tax | 105.81 | 108.94 | 84.20 | +25.7% | −2.9% |
| Net profit | 291.95 | 311.53 | 237.39 | +23.0% | −6.3% |
| EPS (₹) | 16.92 | 18.16 | 14.06 | +20.3% | −6.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Kalpataru Projects International's costs and profit?
Total expenses were ₹6,651 crore in Q2 FY27, up ₹420.16 crore, or 6.7%, from Q2 FY26. Cost of materials fell ₹56.35 crore, employee cost fell ₹23.01 crore and finance costs fell ₹46.41 crore, while depreciation rose ₹10.39 crore and other expenses rose ₹561.63 crore.
Other income increased ₹20.63 crore to ₹44.02 crore, while the company reported no exceptional item. Profit before tax rose ₹76.17 crore to ₹397.76 crore, and tax increased ₹21.61 crore to ₹105.81 crore, leaving a net profit of ₹291.95 crore.
Against Q1 FY27, total expenses rose ₹585.83 crore, mainly reflecting increases of ₹381.74 crore in cost of materials and ₹226.21 crore in other expenses. Employee cost fell ₹14.99 crore, finance costs rose ₹8.56 crore and depreciation rose ₹0.08 crore; other income fell ₹33.18 crore, and tax fell ₹3.13 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 2,330 | 2,386 | −56.35 | −2.4% |
| Employee cost | 686.44 | 709.45 | −23.01 | −3.2% |
| Finance costs | 90.54 | 136.95 | −46.41 | −33.9% |
| Depreciation | 136.70 | 126.31 | +10.39 | +8.2% |
| Other expenses | 3,460 | 2,898 | +561.63 | +19.4% |
| Total expenses | 6,651 | 6,230 | +420.16 | +6.7% |
| Other income | 44.02 | 23.39 | +20.63 | +88.2% |
| Tax | 105.81 | 84.20 | +21.61 | +25.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Kalpataru Projects International reported consolidated revenue of ₹13,412.24 crore, up ₹712.50 crore, or 5.6%, from ₹12,699.74 crore in H1 FY26. Total income rose 6.2% to ₹13,533.46 crore, while profit before tax increased 33.7% to ₹818.23 crore.
H1 FY27 profit after tax was ₹603.48 crore, up ₹152.50 crore, or 33.8%, from ₹450.98 crore in H1 FY26. Basic EPS increased 32.0% to ₹35.08 from ₹26.57, and the company reported no exceptional item for the quarter.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 13,412 | 12,700 | +5.6% |
| Profit before tax | 818.23 | 611.81 | +33.7% |
| Net profit | 603.48 | 450.98 | +33.8% |
| EPS (₹) | 35.08 | 26.57 | +32.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹27,869.33 crore, compared with ₹27,712.85 crore at 31 March 2026, while total equity increased to ₹8,638.94 crore from ₹7,732.60 crore. Borrowings fell to ₹2,690.25 crore from ₹3,306.96 crore and cash rose to ₹1,578.92 crore from ₹1,511.78 crore.
Inventories increased to ₹1,878.23 crore from ₹1,776.27 crore, trade receivables declined to ₹6,976.49 crore from ₹8,404.66 crore, and trade payables fell to ₹6,266.20 crore from ₹7,070.96 crore. These figures compare the Q2 FY27 balance sheet with the previous balance sheet date of 31 March 2026.
H1 FY27 operating cash flow was ₹1,179.77 crore, compared with negative ₹411.71 crore in H1 FY26. Investing cash flow was negative ₹635.52 crore against negative ₹395.44 crore, financing cash flow was negative ₹480.55 crore against negative ₹29.48 crore, and capital expenditure was ₹584.20 crore against ₹413.98 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 27,869 | 27,713 |
| Total equity | 8,639 | 7,733 |
| Borrowings | 2,690 | 3,307 |
| Cash and equivalents | 1,579 | 1,512 |
| Inventories | 1,878 | 1,776 |
| Trade receivables | 6,976 | 8,405 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1,180 | −411.71 |
| Cash from investing | −635.52 | −395.44 |
| Cash from financing | −480.55 | −29.48 |
| Capital expenditure | 584.20 | 413.98 |
Source: Company's results filing (XBRL).
How has Kalpataru Projects International done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters, while profit rose year on year in each of the last seven quarters. Q4 FY26 marked the highest revenue and profit in the reported series, at ₹7,777.90 crore and ₹430.60 crore, respectively.
The lowest revenue was ₹5,732.48 crore in Q3 FY25, and the lowest profit was ₹139.59 crore in the same quarter. Revenue fell from ₹7,777.90 crore in Q4 FY26 to ₹6,407.97 crore in Q1 FY27, then rose to ₹7,004.27 crore in Q2 FY27.
The EBITDA margin peaked at 8.8% in Q1 FY27 and was 8.3% in Q2 FY27. Profit declined from ₹311.53 crore in Q1 FY27 to ₹291.95 crore in the latest quarter, after reaching ₹430.60 crore in Q4 FY26.
Which businesses drove the quarter?
EPC revenue was ₹6,946.74 crore in Q2 FY27, up 10.0% from ₹6,313.85 crore in Q2 FY26. Segment EBIT rose to ₹459.57 crore from ₹325.90 crore, and the EBIT margin was 6.6%.
Development Projects revenue fell 94.4% to ₹9.32 crore from ₹167.58 crore, while EBIT was ₹0.02 crore compared with ₹133.97 crore. The EBIT margin was 0.2%.
Others revenue increased 8.3% to ₹70.64 crore from ₹65.21 crore. EBIT rose to ₹2.68 crore from a loss of ₹12.32 crore, with an EBIT margin of 3.8%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| EPC | 6,947 | +10.0% | 459.57 | 6.6% |
| Development Projects | 9.32 | −94.4% | 0.02 | 0.2% |
| Others | 70.64 | +8.3% | 2.68 | 3.8% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 on 5 November 2026, following a review by the Audit Committee. The filing enclosed the statutory auditors’ limited review report and the statements of unaudited financial results.
The company filed an investor and analyst presentation with the results. The presentation reported an order book of ₹71,846 crore as of 30 September 2026. The same-day filings provided no dividend, fund-raising or appointment announcement.
What did Kalpataru Projects International's management say?
Management reported an order book of ₹71,846 crore and year-to-date order inflows of ₹23,934 crore, and said the company had growth visibility extending well beyond 2028. The presentation highlighted T&D, B&F and Oil & Gas as growth and order-win drivers and noted a major strategic Oil & Gas order win in the Middle East.
Management said the balance sheet was nearly debt free, with net debt of ₹72 crores, and highlighted de-leveraging, working-capital discipline and capital allocation. It also reported that Linjemontage’s September 2026 Nasdaq Stockholm listing was valued at about ₹2,300 crore, with KPIL retaining majority ownership.
Management identified water revenue down 4% year on year in Q2 FY27 and infrastructure revenue down 11% as areas of decline. It said infrastructure execution focused on closing conventional railway projects, while the presentation also acknowledged geopolitical crises and economic challenges. No quantitative revenue, margin, cash-flow or order-book conversion guidance was provided.
Management set sustainability targets of carbon neutrality by 2040, water neutrality by 2032 and circularity in construction and demolition waste by 2035. It also said the company would scale its manufacturing and fabrication platform, whose annual installed capacity was 2,40,000 MT, and evaluate forays into ancillary segments.
How did other Civil Construction companies do?
Thirty-five other Civil Construction companies had filed this quarter, with a median revenue growth of 15.8%. Fourteen grew more slowly than Kalpataru Projects International and 21 grew faster, while 27 reported higher profit.
| Kalpataru Projects International revenue growth (YoY) | +7.3% |
|---|---|
| Median of 35 other Civil Construction companies | +15.8% |
| Companies with slower revenue growth than Kalpataru Projects International | 14 of 35 |
| Companies with faster revenue growth than Kalpataru Projects International | 21 of 35 |
| Companies whose net profit rose | 27 of 35 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kalpataru Projects International's revenue in Q2 FY27?
Revenue from operations was ₹7,004 crore, up 7.3% from ₹6,529 crore in Q2 FY26 (consolidated).
Did Kalpataru Projects International make a profit in Q2 FY27?
Yes. Net profit was ₹291.95 crore, against a net profit of ₹237.39 crore in Q2 FY26.
What was Kalpataru Projects International's EPS in Q2 FY27?
Basic earnings per share were ₹16.92, against ₹14.06 in Q2 FY26.
When did Kalpataru Projects International announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Meeting Of The Board Of Directors Of The Company Scheduled To Be Held On Thursday, 05Th November, 2026 (BSE, 29 October 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
- The investor presentation (5 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.