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 ₹ 7,611 Cr.
- Current Price ₹ 386
- High / Low ₹ 563 / 336
- Stock P/E 17.8
- Book Value ₹ 134
- Dividend Yield 0.17 %
- ROCE 17.5 %
- ROE 19.7 %
- Face Value ₹ 5.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 118% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.9%
Cons
- Company might be capitalizing the interest cost
- Promoters have pledged 45.0% of their holding.
- Promoter holding has decreased over last 3 years: -5.56%
- Working capital days have increased from 92.3 days to 168 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 34 | 59 | 102 | 230 | 644 | 1,024 | 1,735 | 2,470 | |
| 19 | 32 | 44 | 121 | 435 | 687 | 1,172 | 1,641 | |
| Operating Profit | 15 | 27 | 58 | 109 | 208 | 337 | 564 | 828 |
| OPM % | 45% | 46% | 57% | 47% | 32% | 33% | 32% | 34% |
| 6 | 0 | 0 | 1 | 3 | 7 | 17 | 42 | |
| Interest | 4 | 8 | 16 | 37 | 47 | 86 | 79 | 144 |
| Depreciation | 4 | 7 | 13 | 14 | 23 | 40 | 61 | 111 |
| Profit before tax | 13 | 12 | 30 | 59 | 142 | 217 | 441 | 616 |
| Tax % | 31% | 46% | 27% | 27% | 23% | 26% | 26% | |
| 9 | 6 | 22 | 43 | 110 | 162 | 325 | 458 | |
| EPS in Rs | 0.55 | 0.40 | 1.35 | 2.66 | 6.74 | 8.94 | 16.23 | 21.81 |
| Dividend Payout % | 0% | 0% | 0% | 4% | 9% | 3% | 5% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 97% |
| 3 Years: | 96% |
| TTM: | 70% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 118% |
| 3 Years: | 95% |
| TTM: | 61% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 125% |
| 3 Years: | 58% |
| 1 Year: | -3% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | 25% |
| Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 18 | 18 | 36 | 60 | 98 | 99 |
| Reserves | 81 | 80 | 102 | 136 | 222 | 775 | 2,325 | 2,551 |
| 40 | 139 | 240 | 446 | 676 | 1,036 | 1,475 | 2,533 | |
| 22 | 61 | 49 | 177 | 322 | 564 | 894 | 981 | |
| Total Liabilities | 161 | 298 | 409 | 777 | 1,255 | 2,436 | 4,792 | 6,164 |
| 84 | 213 | 244 | 482 | 801 | 979 | 2,361 | 2,393 | |
| CWIP | 18 | 1 | 21 | 31 | 0 | 101 | 163 | 709 |
| Investments | 0 | 0 | 0 | 0 | 2 | 0 | 4 | 4 |
| 59 | 85 | 144 | 264 | 453 | 1,355 | 2,264 | 3,057 | |
| Total Assets | 161 | 298 | 409 | 777 | 1,255 | 2,436 | 4,792 | 6,164 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -17 | 40 | -27 | 102 | 159 | -57 | 208 | |
| -15 | -119 | -63 | -189 | -309 | -387 | -1,587 | |
| 33 | 87 | 101 | 91 | 177 | 562 | 1,807 | |
| Net Cash Flow | 1 | 8 | 11 | 4 | 27 | 118 | 427 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 143 | 175 | 178 | 58 | 83 | 152 | 122 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 143 | 175 | 178 | 58 | 83 | 152 | 122 |
| Working Capital Days | 388 | -24 | 232 | 85 | 13 | 96 | 168 |
| ROCE % | 11% | 16% | 20% | 25% | 22% | 18% |
Documents
Announcements
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 20 Feb
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Completion Of 92.4 MW Wind Power Project For Ayana Renewable Power Four
20 Feb - Completed 92.4 MW wind project for Ayana at Nakhatrana, Bhuj (28 WTGs); CEA approval received.
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Announcement under Regulation 30 (LODR)-Allotment
18 Feb - Allotment of 1.01 crore warrants to promoter Quyosh at ₹470.30; proceeds ₹475.00 crore; convertible within 18 months.
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Receipt Of International Order For Solar + Battery Energy Storage System ('BESS') Project
10 Feb - Subsidiary received UAE order to supply 33 kWp solar, 573 kWh BESS and 120 kVA UPS for data centre.
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Receipt Of Orders For Installation Testing And Commissioning Work For 300 Mwac / 405 Mwdc Project At Khavda, Gujarat
10 Feb - Received orders for 300 MWac/405 MWdc Khavda project; aggregate Adani orders now 834 MWac/1,131 MWdc.
Annual reports
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Financial Year 2025
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Financial Year 2014
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Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Feb 2025TranscriptAI SummaryPPT
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Nov 2024Transcript PPT REC
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Aug 2024TranscriptAI SummaryPPT
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Jun 2024TranscriptAI SummaryPPT
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Apr 2024TranscriptAI SummaryPPT
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Feb 2024TranscriptAI SummaryPPT
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Nov 2023TranscriptAI SummaryPPT
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Oct 2023TranscriptAI SummaryPPT
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Oct 2023TranscriptAI SummaryPPT
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Aug 2023TranscriptAI SummaryPPT
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Jun 2023TranscriptPPTREC
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Jun 2023TranscriptAI SummaryPPT REC
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Jan 2023TranscriptAI SummaryPPT
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Oct 2022TranscriptAI SummaryPPT
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Aug 2022TranscriptAI SummaryPPT
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May 2022TranscriptAI SummaryPPT
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Jan 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Nov 2020TranscriptAI SummaryPPT
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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]