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 ₹ 7,578 Cr.
- Current Price ₹ 384
- High / Low ₹ 563 / 336
- Stock P/E 21.6
- Book Value ₹ 110
- Dividend Yield 0.17 %
- 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
- Promoter holding has increased by 0.82% over last quarter.
Cons
- Company might be capitalizing the interest cost
- Promoters have pledged 44.7% of their holding.
- Promoter holding has decreased over last 3 years: -5.32%
- 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 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 | 1,885 | |
| 0 | 0 | 13 | 8 | 13 | 19 | 32 | 38 | 113 | 334 | 477 | 1,146 | 1,219 | |
| Operating Profit | 0 | 0 | 15 | 17 | 19 | 15 | 27 | 64 | 106 | 154 | 247 | 446 | 667 |
| OPM % | 54% | 68% | 59% | 45% | 46% | 62% | 49% | 32% | 34% | 28% | 35% | ||
| 0 | 0 | 0 | 0 | -0 | 6 | 0 | 0 | 1 | 3 | 5 | 14 | 33 | |
| Interest | 0 | 0 | 1 | 2 | 3 | 4 | 8 | 25 | 36 | 37 | 76 | 68 | 131 |
| Depreciation | 0 | 0 | 3 | 2 | 8 | 4 | 7 | 16 | 14 | 19 | 35 | 52 | 94 |
| Profit before tax | 0 | 0 | 12 | 14 | 8 | 13 | 12 | 23 | 58 | 101 | 141 | 340 | 475 |
| Tax % | 33% | 40% | 2% | 31% | 46% | 36% | 23% | 22% | 26% | 26% | |||
| 0 | 0 | 8 | 8 | 7 | 9 | 6 | 15 | 45 | 78 | 104 | 252 | 352 | |
| 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 | 17.83 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 4% | 13% | 4% | 6% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 93% |
| 3 Years: | 94% |
| TTM: | 48% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 108% |
| 3 Years: | 78% |
| TTM: | 82% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 129% |
| 3 Years: | 58% |
| 1 Year: | 0% |
| Return on Equity | |
|---|---|
| 10 Years: | 21% |
| 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% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Power Generation (Units Generated under IPP) Crore kWh |
|
||||||||
| Cumulative Installed Capacity MW |
|||||||||
| IPP Installed Capacity MW |
|||||||||
| Land Bank Acres |
|||||||||
| Power Evacuation Capacity MW |
|||||||||
| Order Book (Consolidated) GW |
|||||||||
Documents
Announcements
-
Press Release - KPI Green Energy Limited Secures A Sanction Of Rs. 979 Crore (Term Loan And Bank Guarantee Facility) From Canara Bank For Development Of Its Wind Power Project Of 150 MW In Gujarat As Independent Power Producer (IPP).
21h - Canara Bank sanctions ₹979 crore (₹931 crore loan, ₹48 crore BG) for KPI's 150MW Gujarat wind project; total cost ₹1,241.68cr.
-
Press Release - KPI Green Energy Limited Energises 35 Mwp To Reach 589 Mwp Energised Capacity Out Of 2.17 Gwp IPP Portfolio
12 Mar - Energised 35 MWp to 589 MWp; commissioned 200 MW Khavda; 445 MW/890 MWh BESS BESPA with GUVNL.
-
Commissioning Of Additional Capacity In 250 MW AC / 350 MW DC GUVNL Solar IPP Project
10 Mar - Commissioned additional 24.2 MW AC (35.01 MW DC); total 48.4 MW AC/69.41 MW DC; project due Oct 2026.
-
Intimation Regarding Execution Of Battery Energy Storage Purchase Agreement For Development Of 445 MW / 890 Mwh IPP Standalone BESS Projects With GUVNL
7 Mar - Sun Drops executed BESPA with GUVNL to develop 445 MW/890 MWh standalone BESS in Gujarat.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
7 Mar - KPI Green Energy Limited informed Exchange regarding its participation in the Analyst(s)/Institutional Investor(s) Meet, scheduled to be held on March 11, 2026. Detailed disclosure is …
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
-
Feb 2026Transcript PPT REC
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT REC
-
May 2025Transcript PPT REC
-
Feb 2025Transcript PPT REC
-
Feb 2025TranscriptAI SummaryPPT
-
Nov 2024Transcript PPT REC
-
Aug 2024TranscriptAI SummaryPPT
-
Jun 2024TranscriptAI SummaryPPT
-
Apr 2024TranscriptAI SummaryPPT
-
Feb 2024TranscriptAI SummaryPPT
-
Nov 2023TranscriptAI SummaryPPT
-
Oct 2023TranscriptAI SummaryPPT
-
Oct 2023TranscriptAI SummaryPPT
-
Aug 2023TranscriptAI SummaryPPT
-
Jun 2023TranscriptPPTREC
-
Jun 2023TranscriptAI SummaryPPT REC
-
Jan 2023TranscriptAI SummaryPPT
-
Oct 2022TranscriptAI SummaryPPT
-
Aug 2022TranscriptAI SummaryPPT
-
May 2022TranscriptAI SummaryPPT
-
Jan 2022TranscriptAI SummaryPPT
-
Nov 2021TranscriptAI SummaryPPT
-
Aug 2021TranscriptAI SummaryPPT
-
Jul 2021TranscriptAI SummaryPPT
-
Nov 2020TranscriptAI SummaryPPT
-
Aug 2020TranscriptAI SummaryPPT
Business Verticals
The company develops solar and hybrid power plants under the brand name 'Solarism and offers power solutions through 2 verticals: [1]