KPI Green Energy Ltd
Incorporated in 2008, KPI Green Energy Ltd is part of KP Group. They develop, build, own, manage, and maintain renewable power facilities (solar and wind solar hybrid power project) as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs) under the ‘Solarism’ brand. [1]
Group Companies: [2]
KP Energy Limited
KP Green Engineering Private Limited
KPF Green Hydrogen & Ammonia Technology Private Limited
KP Human Development Foundation
- Market Cap ₹ 8,519 Cr.
- Current Price ₹ 431
- High / Low ₹ 589 / 313
- Stock P/E 25.8
- Book Value ₹ 110
- Dividend Yield 0.15 %
- ROCE 15.7 %
- ROE 18.5 %
- Face Value ₹ 5.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 108% CAGR over last 5 years
Cons
- Company might be capitalizing the interest cost
- Promoters have pledged or encumbered 45.5% of their holding.
- Promoter holding has decreased over last 3 years: -6.03%
- Working capital days have increased from 78.4 days to 113 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Utilities Power Power Power Generation
Part of BSE SmallCap BSE Allcap BSE Utilities Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 27 | 26 | 32 | 34 | 59 | 102 | 219 | 488 | 724 | 1,592 | 1,858 | |
| 0 | 0 | 13 | 8 | 13 | 19 | 32 | 38 | 113 | 334 | 477 | 1,146 | 1,266 | |
| Operating Profit | 0 | 0 | 15 | 17 | 19 | 15 | 27 | 64 | 106 | 154 | 247 | 446 | 592 |
| OPM % | 54% | 68% | 59% | 45% | 46% | 62% | 49% | 32% | 34% | 28% | 32% | ||
| 0 | 0 | 0 | 0 | -0 | 6 | 0 | 0 | 1 | 3 | 5 | 14 | 28 | |
| Interest | 0 | 0 | 1 | 2 | 3 | 4 | 8 | 25 | 36 | 37 | 76 | 68 | 97 |
| Depreciation | 0 | 0 | 3 | 2 | 8 | 4 | 7 | 16 | 14 | 19 | 35 | 52 | 78 |
| Profit before tax | 0 | 0 | 12 | 14 | 8 | 13 | 12 | 23 | 58 | 101 | 141 | 340 | 444 |
| Tax % | 33% | 40% | 2% | 31% | 46% | 36% | 23% | 22% | 26% | 26% | |||
| 0 | 0 | 8 | 8 | 7 | 9 | 6 | 15 | 45 | 78 | 104 | 252 | 330 | |
| EPS in Rs | 0.00 | 0.00 | 2.42 | 1.63 | 0.63 | 0.55 | 0.40 | 0.89 | 2.74 | 4.82 | 5.74 | 12.82 | 16.75 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 4% | 13% | 4% | 6% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 93% |
| 3 Years: | 94% |
| TTM: | 75% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 108% |
| 3 Years: | 78% |
| TTM: | 110% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 136% |
| 3 Years: | 62% |
| 1 Year: | -18% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 21% |
| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.05 | 4 | 6 | 13 | 18 | 18 | 18 | 18 | 36 | 60 | 98 | 99 |
| Reserves | 0 | 0 | 10 | 26 | 36 | 81 | 80 | 94 | 137 | 192 | 688 | 1,898 | 2,079 |
| 0 | 0 | 14 | 31 | 44 | 40 | 139 | 286 | 352 | 600 | 977 | 1,512 | 2,649 | |
| 1 | 12 | 26 | 20 | 14 | 22 | 61 | 51 | 174 | 207 | 381 | 603 | 576 | |
| Total Liabilities | 1 | 12 | 54 | 83 | 107 | 161 | 298 | 450 | 682 | 1,035 | 2,106 | 4,112 | 5,402 |
| 0 | 0 | 31 | 58 | 49 | 84 | 203 | 297 | 403 | 673 | 704 | 1,898 | 1,912 | |
| CWIP | 0 | 0 | 1 | 8 | 34 | 18 | 1 | 3 | 0 | 0 | 78 | 163 | 702 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22 | 66 | 67 | 214 | 343 | 317 |
| 1 | 12 | 21 | 17 | 25 | 59 | 94 | 128 | 213 | 295 | 1,110 | 1,708 | 2,471 | |
| Total Assets | 1 | 12 | 54 | 83 | 107 | 161 | 298 | 450 | 682 | 1,035 | 2,106 | 4,112 | 5,402 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 14 | 9 | 7 | -17 | 30 | 19 | 122 | 107 | -135 | 450 | |
| 0 | 0 | -25 | -36 | -29 | -15 | -109 | -130 | -153 | -288 | -373 | -1,545 | |
| 0 | 0 | 14 | 25 | 23 | 33 | 87 | 122 | 29 | 206 | 591 | 1,442 | |
| Net Cash Flow | 0 | 0 | 3 | -2 | 0 | 1 | 8 | 11 | -3 | 24 | 82 | 347 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 30 | 17 | 150 | 143 | 175 | 178 | 57 | 40 | 153 | 101 | ||
| Inventory Days | 203 | |||||||||||
| Days Payable | 208 | |||||||||||
| Cash Conversion Cycle | 30 | 12 | 150 | 143 | 175 | 178 | 57 | 40 | 153 | 101 | ||
| Working Capital Days | 89 | 38 | 104 | 388 | -30 | 151 | 50 | -8 | 130 | 113 | ||
| ROCE % | 0% | 0% | 35% | 14% | 9% | 11% | 15% | 21% | 21% | 17% | 16% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
19 Nov - MoU (Nov 19, 2025): KPI and Inox Solar to jointly develop 2.5 GW across multiple Indian states.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
19 Nov - MoU (Nov 19, 2025): KPI and Inox Solar to jointly develop 2.5 GW across India.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
18 Nov - KPI Green Energy Limited submitted to the Exchange transcript of Earnings Conference Call held on November 11, 2025 at 2:00 PM to discuss the unaudited …
-
Press Release - KPI Green Energy Limited Signs Rs. 696 Cr EPC And O&M Contract With SJVN For 200 MW (AC) Solar Power Project At Khavda, Gujarat
14 Nov - KPI Green signs ₹696.50 crore EPC & 3-year O&M contract with SJVN for 200 MW Khavda solar project.
-
Press Release - KP Group And Senvion India Sign Framework Agreement To Develop Up To 2 GW Of Wind And Hybrid Renewable Projects Across India
13 Nov - KP Group and Senvion India sign framework to develop up to 2 GW wind/hybrid projects across India over three years.
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
Concalls
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT REC
-
May 2025Transcript PPT REC
-
Feb 2025Transcript PPT REC
-
Feb 2025TranscriptNotesPPT
-
Nov 2024Transcript PPT REC
-
Aug 2024TranscriptNotesPPT
-
Jun 2024TranscriptNotesPPT
-
Apr 2024TranscriptNotesPPT
-
Feb 2024TranscriptNotesPPT
-
Nov 2023TranscriptNotesPPT
-
Oct 2023TranscriptNotesPPT
-
Oct 2023TranscriptNotesPPT
-
Aug 2023TranscriptNotesPPT
-
Jun 2023TranscriptPPTREC
-
Jun 2023TranscriptNotesPPT REC
-
Jan 2023TranscriptNotesPPT
-
Oct 2022TranscriptNotesPPT
-
Aug 2022TranscriptNotesPPT
-
May 2022TranscriptNotesPPT
-
Jan 2022TranscriptNotesPPT
-
Nov 2021TranscriptNotesPPT
-
Aug 2021TranscriptNotesPPT
-
Jul 2021TranscriptNotesPPT
-
Nov 2020TranscriptNotesPPT
-
Aug 2020TranscriptNotesPPT
Business Verticals
The company develops solar and hybrid power plants under the brand name 'Solarism and offers power solutions through 2 verticals: [1]