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 ₹ 8,233 Cr.
- Current Price ₹ 417
- High / Low ₹ 563 / 336
- Stock P/E 19.2
- Book Value ₹ 134
- Dividend Yield 0.16 %
- 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%
- 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 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: | 135% |
| 3 Years: | 61% |
| 1 Year: | 2% |
| 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 |
| Free Cash Flow | -32 | -79 | -90 | -88 | -151 | -244 | -1,297 |
| CFO/OP | -101% | 154% | -43% | 95% | 80% | -11% | 48% |
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% |
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 ・Standalone data |
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| Cumulative Installed Capacity MW |
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| IPP Installed Capacity MW |
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| Land Bank Acres |
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| Power Evacuation Capacity MW |
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| Order Book (Consolidated) GW |
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Documents
Announcements
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Press Release - KP Group Joins Delhi Capitals As Associate Sponsor For Indian Premier League (IPL) Seasons 2026-2028
4 Apr - KP Group becomes Delhi Capitals associate sponsor for IPL 2026–2028.
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Disclosure Pursuant To Regulation 30(5) Of SEBI (LODR) Regulations, 2015
2 Apr - Updated authorized key managerial personnel for materiality and disclosure under Regulation 30(5), effective April 2, 2026.
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Appointment of Company Secretary and Compliance Officer
2 Apr - Krunal Bhatt appointed Company Secretary and Compliance Officer effective April 2, 2026; Rajvi Upadhyay shifts role.
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Closure of Trading Window
27 Mar - Trading window closed Apr 1, 2026 until 48 hours after FY Q4/Year-end Mar 31, 2026 results.
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Announcement under Regulation 30 (LODR)-Credit Rating
25 Mar - ICRA reaffirms ratings: bank limits Rs.5,775cr and NCDs Rs.643.20cr; long-term A (Stable), NCDs AA+(CE) Stable.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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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]