KPIGREEN

KPI Green Energy Limited

Renewable energy IPP with solar, wind, floating solar and green hydrogen projects

Utilities›Power›Power›Power Generation

kpigreenenergy.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹319.80
Market cap
6,309 Cr
Stock P/E
13.8
P/B
2.08
Dividend yield
0.3%
ROE (FY26)
14.5%
ROCE (FY26)
11.2%
Operating margin (FY26)
30.6%
Debt / equity (FY26)
1.49
OCF / EBITDA (FY26)
44.3%
OCF / EBITDA (3Y)
30.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

KPI Green Energy (part of the KP Group) sells power from its own solar and wind-solar hybrid plants and earns most of its revenue building captive power projects for customers in India.

Company snapshot

16thBy market cap

Ranked among 27 companies in Power Generation.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 100.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Revenue from Sales of Plott
0.0%
0.32 Cr0.54 Cr—
Revenue from Sales of Power & Solar Power Plantt
100.0%
1,166 Cr359 Cr—

What we see

Positives
  • ✓Net margin of 18.9% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Only 31% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales215 Cr330 Cr289 Cr348 Cr360 Cr458 Cr569 Cr603 Cr634 Cr663 Cr796 Cr694 Cr
Operating expenses (approx.)144 Cr227 Cr196 Cr216 Cr226 Cr321 Cr408 Cr397 Cr409 Cr427 Cr505 Cr448 Cr
EBITDA71 Cr104 Cr93 Cr132 Cr134 Cr137 Cr161 Cr206 Cr226 Cr236 Cr291 Cr246 Cr
OPM %33.1%31.4%32.1%38.0%37.2%29.9%28.3%34.2%35.6%35.6%36.6%35.4%
Other income0.88 Cr1 Cr4 Cr2 Cr2 Cr8 Cr8 Cr11 Cr7 Cr13 Cr14 Cr16 Cr
Interest18 Cr23 Cr25 Cr27 Cr23 Cr15 Cr14 Cr38 Cr43 Cr49 Cr53 Cr80 Cr
Depreciation10 Cr10 Cr11 Cr14 Cr15 Cr15 Cr16 Cr30 Cr32 Cr33 Cr39 Cr51 Cr
Profit before tax44 Cr72 Cr60 Cr91 Cr97 Cr115 Cr139 Cr149 Cr158 Cr170 Cr214 Cr131 Cr
Tax %20.8%29.5%28.3%27.1%27.7%25.9%24.9%25.4%26.1%26.0%27.3%27.7%
Net profit35 Cr51 Cr43 Cr66 Cr70 Cr85 Cr104 Cr111 Cr117 Cr126 Cr155 Cr95 Cr
EPS (₹)₹9.62₹13.73₹7.15₹10.97₹5.55₹6.44₹5.04₹5.28₹5.53₹5.97₹7.36₹4.34

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales59 Cr104 Cr230 Cr644 Cr1,024 Cr1,735 Cr2,696 CrSign in free for the trailing twelve months
Operating expenses (approx.)32 Cr45 Cr121 Cr435 Cr687 Cr1,172 Cr1,738 CrSign in free for the trailing twelve months
EBITDA27 Cr58 Cr109 Cr208 Cr337 Cr564 Cr958 CrSign in free for the trailing twelve months
OPM %45.5%56.3%47.4%32.4%32.9%32.5%35.5%Sign in free for the trailing twelve months
Other income0.27 Cr0.44 Cr2 Cr3 Cr7 Cr20 Cr46 CrSign in free for the trailing twelve months
Interest8 Cr16 Cr37 Cr47 Cr86 Cr79 Cr182 CrSign in free for the trailing twelve months
Depreciation7 Cr13 Cr14 Cr23 Cr40 Cr61 Cr133 CrSign in free for the trailing twelve months
Profit before tax12 Cr30 Cr59 Cr142 Cr217 Cr441 Cr691 CrSign in free for the trailing twelve months
Tax %46.0%27.1%27.1%22.7%25.5%26.2%26.3%Sign in free for the trailing twelve months
Net profit6 Cr22 Cr43 Cr110 Cr162 Cr325 Cr509 CrSign in free for the trailing twelve months
EPS (₹)₹3.56₹12.13₹23.94₹30.33₹28.17₹16.23₹24.13Sign in free for the trailing twelve months
Dividend payout %—0.0%4.2%5.0%1.1%3.6%3.3%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital18 Cr18 Cr18 Cr36 Cr60 Cr98 Cr99 Cr
Reserves80 Cr102 Cr136 Cr222 Cr775 Cr2,511 Cr2,935 Cr
Borrowings——337 Cr521 Cr832 Cr1,125 Cr4,532 Cr
Other liabilities200 Cr289 Cr287 Cr476 Cr768 Cr1,037 Cr2,077 Cr
Total liabilities298 Cr409 Cr777 Cr1,255 Cr2,436 Cr4,792 Cr9,882 Cr
Fixed assets (net)214 Cr265 Cr481 Cr800 Cr898 Cr2,279 Cr4,429 Cr
CWIP——31 Cr0.28 Cr101 Cr163 Cr918 Cr
Investments0.0001 Cr0.0001 Cr0.0001 Cr2 Cr0.0001 Cr4 Cr199 Cr
Loans & advances——0 Cr0.51 Cr0.31 Cr0.0050 Cr0.0025 Cr
Inventories35 Cr40 Cr107 Cr165 Cr334 Cr466 Cr1,449 Cr
Trade receivables28 Cr50 Cr37 Cr147 Cr427 Cr578 Cr740 Cr
Cash & bank0.14 Cr0.08 Cr6 Cr13 Cr54 Cr119 Cr116 Cr
Other assets21 Cr54 Cr115 Cr128 Cr621 Cr1,182 Cr2,031 Cr
Total assets298 Cr409 Cr777 Cr1,255 Cr2,436 Cr4,792 Cr9,882 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity40 Cr-27 Cr102 Cr159 Cr-57 Cr208 Cr424 Cr
Cash from investing-119 Cr-63 Cr-189 Cr-309 Cr-387 Cr-1,587 Cr-4,071 Cr
Cash from financing87 Cr101 Cr91 Cr177 Cr562 Cr1,807 Cr3,643 Cr
Net cash flow8 Cr11 Cr4 Cr27 Cr118 Cr427 Cr-4 Cr
Free cash flow (OCF − Capex)-79 Cr-90 Cr-89 Cr-152 Cr-144 Cr-1,297 Cr-2,611 Cr

Ratios

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.2%38.5%19.6%24.2%18.2%13.9%11.2%
ROE %6.6%18.3%28.1%42.5%19.3%12.2%14.5%
Debtor days1751755883152121100
Inventory days799648425158229186376
Days payable——187217285168119
Cash conversion cycle9748242962396140357
OCF / EBITDA %147.8%-45.8%93.7%76.4%-17.0%36.8%44.3%
OCF / EBITDA % (3 years)——59.3%62.5%31.2%27.9%30.9%
Debt / equity0.000.002.192.021.000.431.49
Current ratio1.092.561.431.201.492.761.64
Net debt / EBITDA-0.0052-0.00133.032.442.311.784.61