1. India Stocks

  2. •

    Utilities

  3. •

    Renewable Utilities
KPI Green Energy Limited

KPI Green Energy Limited

KPIGREEN.BO
KPI Green Energy LimitedIN flagBombay Stock Exchange
397.30
INR
+0.95
- -
78.55BMarket Cap
KPI Green Energy Limited
KPIGREEN.BO
(Bombay Stock Exchange)

Recent

price

397.30

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
1.69
1.58
2.71
2.74
3.65
6.37
14.14
38.17
59.45
88.14
136.63
132.16
Revenue per Share
0.47
0.5
0.63
0.71
0.4
0.88
2.66
6.5
9.39
16.23
24.13
24.1
Basic EPS, GAAP
-0.67
-1.65
-2.06
-2.55
-4.86
-4.08
-5.43
-9.04
-14.17
-65.89
-132.32
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
0.11
0.32
0.11
0.6
0.85
- -
Dividend per Share
0.74
1.36
2.89
3.78
2.87
3.75
6.29
13.31
23.7
38.26
5
4.84
Book Value per Share
0.83
1.95
4.23
7.85
6.02
6.89
9.44
15.27
43.81
129.37
161.85
156.57
Tangible Book Value per Share
163
163
117
126
163
163
163
169
172
197
197
204
Basic Weighted Avg Shares
275
258
316
345
593
1,035
2,299
6,438
10,239
17,355
26,959
26,959
Sales/Revenue/Turnover
44.39
59.6
33.41
58.16
33
45.65
41.32
28.96
29.01
29
30.62
30.62
Operating Margin (%)
25
21
81
45
75
165
141
226
404
605
1,329
1,329
Depreciation Expense
77
81
74
89
64
144
432
1,096
1,617
3,196
4,761
4,917
Net Income, GAAP
33.19
40.48
1.98
30.6
45.98
36.22
27.15
22.73
25.51
26.23
26.29
26.29
Effective Tax Rate (%)
27.96
31.54
23.43
25.8
10.86
13.87
18.81
17.03
15.79
18.41
17.66
18.24
Profit Margin (%)
-30
17
101
384
65
866
791
745
4,390
13,979
13,039
13,039
Working Capital
121
270
362
326
1,067
2,875
3,989
5,635
6,217
12,110
42,688
42,688
LT Debt
136
317
493
990
980
1,123
1,537
2,579
8,357
26,298
32,734
32,734
Total Equity
- -
20.3
13.23
11.96
5.61
9.04
13.44
18.72
15.59
12.33
9.65
9.65
Return on Invested Capital (%)
- -
23.42
15.58
13.72
7.63
10.52
14.35
19.78
18.91
19.2
14.49
15.46
Return on Capital (%)
- -
47.46
26.5
21.91
13.66
26.7
52.98
67.06
51.09
55.02
111.75
115.4
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
5,694
- -
9,281
LT Borrowings
15,717
- -
36,660
LT Finance Leases
3,924
- -
6,029
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
197
- -
197
Market Capitalization
88,058
102,575
71,689

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
29,724
- -
33,446
Cash, Cash Equivalents & STI
8,458
- -
8,152
Accounts Receivable, Net
7,673
- -
7,405
Inventories
5,950
- -
14,491
Total Current Liabilities
11,291
- -
20,407
Payables & Accruals
- -
- -
- -
ST Debt
5,694
- -
9,281
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
87.15%
113.57%
24.47%
Free Cash Flow
99.91%
139.69%
101.26%
Net Income, GAAP
66.14%
109.78%
48.99%
Sales/Revenue/Turnover
65.8%
97.2%
55.34%
Total Cash Common Dividend
- -
- -
42.57%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,894
2,151
3,301
2,894
10,239
2025
3,480
3,597
4,584
5,694
17,355
2026
6,029
6,343
6,629
7,958
26,959

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.05
2.14
3.05
- -
9.39
2025
3.66
3.7
4.29
5.04
16.23
2026
5.28
5.53
5.97
7.36
24.13

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.11
2025
- -
- -
- -
- -
0.6
2026
- -
- -
- -
- -
0.85
Similar Companies
Xinyi Energy Holdings Limited (3868.HK)
Scatec ASA (0R3I.L)
Cox Energy, S.A.B. de C.V. (COXE.MC)
PowerHouse Energy Group Plc (PHE.L)
BCPG Public Company Limited (BCPG-R.BK)
Zhaoheng Hydropower Ltd. (ZHYLF)
Business
KPI Green Energy Limited, the renewable energy vertical of KP Group, develops, builds, owns, operates, and maintains solar and hybrid power plants under the Solarism brand as an independent power producer and service provider to captive power producers. The company offers engineering, procurement, and construction services for solar plants; operation and maintenance including real-time monitoring via a centralized Network Operation Center and waterless robotic cleaning solutions; renewable energy advisory; land development and sales for solar projects; and hybrid solutions combining solar with wind or other renewables. It operates primarily in India with a focus on Gujarat, including major projects in Khavda Solar Park and Bharuch, and targets industries, businesses, and utilities through power purchase agreements. Founded in 2008 and headquartered in Surat, Gujarat, KPI Green Energy listed on NSE and BSE under ticker KPIGREEN. Recent developments include securing INR 3,200 crore funding from State Bank of India in September 2025 for solar and hybrid IPP projects; a INR 1,050 crore letter of intent in October 2025 for a 600 MW solar-plus-storage project from FVE Lifecare; a INR 696.5 crore order in October 2025 from SJVN for a 200 MW Khavda solar project; approval for 41 MW solar and hybrid projects in October 2025; India's first externally credit-enhanced green bond issue in September 2025; and a partnership pact in November 2025 with Senvion India for up to 2 GW renewable projects.