KPI Green Energy Limited
NSE: KPIGREEN · Power Generation · sector
₹284.45NSE close 2026-10-26
Key numbers
Market cap₹5,623 cr
Price₹284.45
52w high / low₹542 / ₹272
P/E12.3xSector median 18.7x
P/B1.9xSector median 1.5x
Book value₹153.5
Dividend yield0.30%Sector median 1.39%
ROE16.2%Sector median 4.5%
ROCE11.8%Sector median 6.2%
OPM35.9%Sector median 33.3%
Debt / equity1.49xSector median 0.90x
EV/EBITDA9.4xSector median 9.8x
Interest cover4.0x
Current ratio1.64x
Sales growth 3y+61.2%Sector median +3.1%
Profit growth 3y+63.2%Sector median +19.3%
PEG0.23x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 35 companies in Power Generation (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹758 cr vs borrowings ₹4,532 cr (FY26): borrowings are higher by ₹3,774 cr.
- Borrowings rose in each of the last 3 years (₹521 cr → ₹4,532 cr).
- Operating profit covered interest 4.0x in the last 12 months.
- 44.74% of the promoters' shares are pledged (22.1% of all shares).
- Promoter holding rose by 0.73 percentage points in a year, to 49.40% (2026-09-30).
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY25, FY24).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 11% of net profit in the last 12 months.
- Debtor days went from 152 (FY24) to 100 (FY26).
- Dividend paid in 4 of the last 5 financial years.
- Price ₹284.45 on 2026-10-26: -47.5% from the 52-week high, +4.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹863.85 · low ₹278.75
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 360 | 458 | 569 | 603 | 634 | 663 | 796 | 694 |
| EBITDA | 133 | 137 | 161 | 206 | 226 | 238 | 291 | 246 |
| OPM % | 36.9% | 29.8% | 28.3% | 34.1% | 35.6% | 36.0% | 36.6% | 35.4% |
| Other income | 2 | 8 | 8 | 11 | 7 | 13 | 14 | 16 |
| Net profit | 70 | 84 | 99 | 104 | 109 | 118 | 145 | 86 |
| EPS (₹) | 3.70 | 4.29 | 5.04 | 5.28 | 5.53 | 5.97 | 7.36 | 4.34 |
| Revenue YoY | +76.4% | +44.6% | +39.8% | +15.1% | ||||
| Profit YoY | +56.3% | +39.4% | +46.6% | -17.6% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 230 | 644 | 1,024 | 1,735 | 2,696 | 2,787 |
| EBITDA | 109 | 208 | 337 | 561 | 960 | 1,000 |
| Net profit | 46 | 110 | 162 | 320 | 476 | 458 |
| EPS (₹) | 5.32 | 6.74 | 9.39 | 16.23 | 24.13 | 23.20 |
| Revenue growth | +180.0% | +59.0% | +69.5% | +55.3% | +40.0% | |
| Profit growth | +136.8% | +47.5% | +97.7% | +49.0% | +28.1% | |
| Dividend / share (₹) | – | 0.45 | 0.50 | 0.80 | 0.85 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +61.2% | – | +40.0% |
| Net profit | +63.2% | – | +28.1% |
| EPS | +53.0% | – | – |
| Share price | – | -25.0% (2y) | -40.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 258 | 836 | 2,609 | 3,034 |
| Borrowings | – | 521 | 832 | 1,125 | 4,532 |
| Cash & equivalents | – | 52 | 170 | 597 | 758 |
| Total assets | – | 1,255 | 2,436 | 4,792 | 9,882 |
| Fixed assets | – | 800 | 898 | 2,279 | 4,429 |
| Capital work in progress | – | 0 | 101 | 163 | 918 |
| Investments | – | 2 | 0 | 4 | 0 |
| Receivables | – | 147 | 427 | 578 | 740 |
| Inventory | – | 165 | 334 | 466 | 1,449 |
| Payables | – | 227 | 417 | 420 | 458 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 102 | 159 | -57 | 208 | 424 |
| Cash from investing | -189 | -309 | -387 | -1,587 | -4,071 |
| Cash from financing | 91 | 177 | 562 | 1,807 | 3,643 |
| Capex | 191 | 312 | 86 | 1,505 | 3,035 |
| Free cash flow | -89 | -152 | -144 | -1,297 | -2,611 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 42.5% | 19.3% | 12.2% | 15.7% |
| ROCE % | – | 24.2% | 18.2% | 13.9% | 11.5% |
| Debtor days | – | 83 | 152 | 122 | 100 |
| Inventory days | – | 158 | 227 | 186 | 374 |
| Payable days | – | 217 | 284 | 168 | 118 |
| Cash conversion cycle (days) | – | 24 | 95 | 140 | 356 |
| Working capital days | – | 42 | 156 | 294 | 177 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 49.40% |
| FIIs | 7.32% |
| DIIs | 0.59% |
| of which Mutual funds | 0.14% |
| of which Insurance | 0.23% |
| Government | 0.00% |
| Public (non-institutions) | 42.68% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Feb 2026 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 48.78% | 48.67% | 48.67% | 49.25% | 49.49% | 49.49% | 49.40% | 49.40% |
| Promoter group | % |
|---|---|
| Farukbhai Gulambhai Patel | 48.54% |
| Quyosh Energia Private Limited | 0.81% |
| Gulammahmad Alibhai Patel | 0.03% |
| Rashida Gulam Patel | 0.03% |
| Vahidabanu Faruk Patel | 0.00% |
| Aayesha Farukbhai Patel | 0.00% |
| Affan Faruk Patel | 0.00% |
| Public holders above 1% | % |
|---|---|
| Irfanahmed Shahabuddin Mombasawala | 1.60% |
| Dhimantrai Chandrashanker Joshi | 1.33% |
| Kutir Navinchandra Patel | 1.01% |
3,05,671 shareholders. Pledged: 44.74% of promoter shares.
Peers in Power Generation
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| NTPC | ₹2,90,900 cr | 10.5x | 1.4x | 14.3% | 8.7% | 30.9% | +2.1% | 3.01% |
| ADANIGREEN | ₹2,05,875 cr | 113.6x | 9.5x | 9.1% | 7.3% | 86.3% | +18.4% | 0.16% |
| JSWENERGY | ₹82,396 cr | 40.1x | 2.7x | 6.8% | 7.2% | 53.2% | +22.3% | 0.44% |
| NHPC | ₹70,878 cr | 18.7x | 1.7x | 9.4% | 5.0% | 47.4% | +3.1% | 3.33% |
| NTPCGREEN | ₹68,877 cr | 115.1x | 3.6x | 3.2% | 3.6% | 87.1% | – | – |
| NLCINDIA | ₹31,803 cr | 9.6x | 1.5x | 15.7% | 9.0% | 33.3% | +2.7% | 2.31% |
| ACMESOLAR | ₹26,965 cr | 39.0x | 5.3x | 12.6% | 8.6% | 87.6% | – | 0.09% |
| SJVN | ₹19,256 cr | 30.2x | 1.4x | 4.5% | 5.5% | 69.8% | +15.5% | 2.97% |
| CLEANMAX | ₹13,612 cr | 127.6x | 2.9x | 2.0% | 5.4% | 59.2% | – | – |
| KPIGREEN | ₹5,623 cr | 12.3x | 1.9x | 16.2% | 11.8% | 35.9% | +61.2% | 0.30% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Sales of Power & Solar Power plant | ₹2,695 cr | 100.0% | ₹786 cr | 29.2% |
| Sales of Plot | ₹1 cr | 0.0% | ₹0 cr | 23.7% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-22 | Dividend | Dividend - Rs 0.25 Per Share/Special Dividend - Re 0.15 Per Share |
| 2026-01-28 | Dividend | Interim Dividend - Re 0.20 Per Share |
| 2025-11-14 | Dividend | Interim Dividend - Rs 0.25 Per Share |
| 2025-09-12 | Dividend | Dividend - Re 0.20 Per Share |
| 2025-08-11 | Dividend | Interim Dividend - Re 0.20 Per Share |
| 2025-02-18 | Dividend | Interim Dividend - Re 0.20 Per Share |
| 2025-01-03 | Bonus | Bonus 1:2 |
| 2024-11-14 | Dividend | Interim Dividend - Rs 0.20 Per Share |
| 2024-10-04 | Dividend | Dividend - Re 0.20 Per Share |
| 2024-09-17 | Other | Annual General Meeting |
| 2024-08-21 | Dividend | Interim Dividend - Re 0.20 Per Share |
| 2024-07-18 | Split | Face Value Split (Sub-Division) - From Rs10/- Per Share To Rs 5/- Per Share |
| 2024-02-15 | Bonus | Bonus 1:2 |
| 2023-10-20 | Dividend | Interim Dividend - Re 0.25 Per Share |
| 2023-09-21 | Other | Annual General Meeting |
| 2023-08-22 | Dividend | Interim Dividend - Re 0.25 Per Share |
| 2023-02-20 | Dividend | Interim Dividend - Re 0.20 Per Share |
| 2023-01-18 | Bonus | Bonus 1:1 |
| 2022-10-31 | Dividend | Interim Dividend - Re 0.25 Per Share |
| 2022-09-20 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Electric power generation using renewable energy: Sale of renewable power (units of electricity) to esteemed business houses and government bodies through Power Purchase Agreements (PPAs) and power trading through exchange platform.
- Construction and maintenance of power plants: Business of developing, transferring, operating, and maintaining grid-connected renewable power projects for esteemed business houses and government bodies.
| Sector | Utilities |
| Industry | Power Generation |
| Sub-industry | Power Generation |
| Symbol | KPIGREEN |
| BSE code | 542323 |
| ISIN | INE542W01025 |
| Face value | ₹5.0 |
| Incorporated | 2008-02-01 |
| Website | www.kpigreenenergy.com |
| Plants (India / abroad) | 132 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.