KPI Green Energy Ltd logo

KPI Green Energy Ltd

KPIGREEN NSE

Key Fundamentals

MicrocapPower GenerationPower
Market Cap
₹6,112 Cr
Volatility
Low Risk
P/E Ratio
13.32
EBITDA
₹958 Cr
Return on Equity
12.37%
Debt to Equity
1.71
Book Value
₹153.5
52W High
₹542.25
52W Low
₹301.2

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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52 extracted metrics + investor summaries across FY18–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 84.8% CAGR over last 5 years

Weaknesses

3
  • Company might be capitalizing the interest cost
  • Promoters have pledged 44.7% of their holding.
  • Promoter holding has decreased over last 3 years: -5.40%

Growth Rate

Revenue Growth
53.60% ↗
Net Income Growth
101.52% ↗
Cash Flow Change
461.33% ↗
ROE
-36.04% ↗
ROCE
-33.81% ↘
EBITDA Margin (Avg.)
4.99% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
AI opinion · based on fundamentals
Risk high

KPI Green Energy Ltd is a solar power company with a market cap of ₹7,623 Cr, trading at a PE of 14.9x. The company has demonstrated strong revenue growth (61% CAGR over 3 years) and profit growth (63% CAGR over 3 years), but faces concerns around high promoter pledge at 44.7% and a 25% stock price decline over the past year.

Bull Case 7
  • Exceptional 5-year compounded sales growth of 92% CAGR indicates rapid business scaling in the renewable energy sector
  • Compounded profit growth of 85% CAGR over 5 years demonstrates strong operating leverage and execution capability
  • PE ratio of 14.9x is relatively modest for a high-growth power company, with TTM sales growth at 55% and TTM profit growth at 48%
  • 3-year ROE of 20% and 5-year ROE of 21% reflect consistent and healthy return generation on shareholder equity
  • Price-to-book ratio of 2.5x is reasonable given the high growth trajectory and double-digit ROE profile
  • 3-year revenue CAGR of 61% suggests the company is successfully scaling capacity and securing offtake agreements
  • Stock price CAGR of 91% over 5 years and 28% over 3 years reflects long-term value creation despite near-term correction
Bear Case 8
  • Promoters have pledged 44.7% of their holding, creating significant risk of forced selling or margin calls in a market downturn
  • Stock has declined 25% over the past 1 year, indicating significant near-term sentiment deterioration or valuation correction
  • Promoter holding has decreased by 5.41% over the last 3 years, signaling potential dilution or reduced promoter confidence
  • Company might be capitalizing interest costs, which could overstate reported profitability and asset quality
  • Last year ROE declined to 17% from the 3-year average of 20%, suggesting potential margin compression or rising equity base without proportional returns
  • Debt-to-equity ratio is not disclosed clearly, which in a capital-intensive power sector with high promoter pledge raises transparency concerns
  • Dividend yield of only 0.17% indicates minimal cash return to shareholders despite reported profitability, raising questions about free cash flow generation
  • No 10-year track record data available for sales, profit, or ROE, limiting visibility into long-term business cycle resilience

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 15d ago
Positives 3
  • 269 MW solar plant commissioned Jul 20

    KPI Green Energy commissioned 200 MW (AC) / 269 MW (DC) solar capacity for Coal India at Khavda, Gujarat, part of a larger 405 MW (DC) EPC contract.

  • 100 MW MAHAGENCO project approved Jul 20

    Received CEIG charging permission for a 100 MW solar project for MAHAGENCO located in Nagpur, Maharashtra.

  • Key director appointments cleared Jul 27

    Shareholders approved appointment of Rajesh Shrivastava as Whole Time Director and re-appointment of Venu Birappa via postal ballot with over 95% support.

TL;DR: KPI Green Energy is executing well on its project pipeline, commissioning 269 MW for Coal India and securing approval for a 100 MW MAHAGENCO project in the same week. Corporate governance actions received strong shareholder backing. No visible headwinds emerged in the period. The trend is positive with continued capacity additions suggesting healthy order execution momentum heading into H2 FY25.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
189
215
330
289
348
360
458
569
603
634
663
796
694
Expenses
120
144
227
196
216
226
322
408
397
409
427
505
448
Operating Profit
69
71
104
93
132
134
137
161
206
226
236
291
246
OPM %
37%
33%
31%
32%
38%
37%
30%
28%
34%
36%
36%
37%
35%
Other Income
1
1
1
3
0
1
8
8
11
7
16
14
16
Interest
20
18
23
25
28
23
15
14
38
43
48
53
80
Depreciation
9
10
10
11
14
15
15
16
30
32
33
39
51
PBT
41
44
72
60
91
97
115
139
149
158
170
214
131
Tax %
19%
21%
29%
28%
27%
28%
26%
25%
25%
26%
26%
27%
28%
Net Profit
33
35
51
43
66
70
85
104
111
117
126
155
95
EPS in Rs
2.05
2.14
2.8
2.38
3.66
3.55
4.29
5.04
5.27
5.53
5.97
7.36
4.33
Figures in ₹ Crores

Profit & Loss

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
34
59
102
230
644
1,024
1,735
2,696
2,787
Expenses
19
32
44
121
435
687
1,172
1,738
1,789
Operating Profit
15
27
58
109
208
337
564
958
998
OPM %
45%
46%
57%
47%
32%
33%
32%
36%
36%
Other Income
6
0
0
1
3
7
17
48
53
Interest
4
8
16
37
47
86
79
182
224
Depreciation
4
7
13
14
23
40
61
133
154
PBT
13
12
30
59
142
217
441
691
673
Tax %
31%
46%
27%
27%
23%
26%
26%
26%
—
Net Profit
9
6
22
43
110
162
325
509
493
EPS in Rs
0.55
0.4
1.35
2.66
6.74
8.94
16.23
24.13
23.19
Div. Payout %
0%
0%
0%
4%
9%
3%
5%
4%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
18
18
18
18
36
60
98
99
Reserves
81
80
102
136
222
775
2,325
2,935
Borrowings
40
139
240
446
676
1,036
1,475
5,197
Other Liabilities
22
61
49
177
322
564
894
1,651
Total Liabilities
161
298
409
777
1,255
2,436
4,792
9,882
Fixed Assets
84
213
244
482
801
979
2,361
4,508
CWIP
18
1
21
31
0
101
163
918
Investments
0
0
0
0
2
0
4
199
Other Assets
59
85
144
264
453
1,355
2,264
4,257
Total Assets
161
298
409
777
1,255
2,436
4,792
9,882
Figures in ₹ Crores

Cash Flow

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-17
40
-27
102
159
-57
208
424
Investing
-15
-119
-63
-189
-309
-387
-1,587
-4,071
Financing
33
87
101
91
177
562
1,807
3,643
Net Cash Flow
1
8
11
4
27
118
427
-4
Free Cash Flow
-32
-79
-90
-88
-151
-244
-1,297
-2,608
CFO/OP
-101
154
-43
95
80
-11
48
48
Figures in ₹ Crores

Ratios

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
143
175
178
58
83
152
122
100
Inventory Days
—
—
—
—
—
—
—
374
Days Payable
—
—
—
—
—
—
—
118
Cash Conversion Cycle
143
175
178
58
83
152
122
356
Working Capital Days
388
-24
232
85
13
96
168
101
ROCE %
—
11%
16%
20%
25%
22%
18%
14%

Shareholding Pattern

As of Jun 2026
Promoters 49.40%
Public 34.32%
FIIs 8.15%
Others 7.45%
DIIs 0.68%
Total 100.00%
  Mar 2021Jun 2021Jul 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Jan 2023Mar 2023Jun 2023Sep 2023Dec 2023Feb 2024Mar 2024Jun 2024Jul 2024Aug 2024Sep 2024Dec 2024Jan 2025Mar 2025Jun 2025Sep 2025Dec 2025Feb 2026Mar 2026Jun 2026
Promoters
52.69%
52.70%
54.32%
54.32%
54.45%
54.52%
54.68%
54.70%
54.81%
54.81%
54.81%
54.81%
54.83%
53.08%
53.08%
53.08%
53.09%
53.09%
48.77%
48.77%
48.78%
48.78%
48.78%
48.67%
48.67%
49.25%
49.49%
49.49%
49.40%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
2.38%
2.38%
2.38%
2.38%
2.38%
0.00%
0.00%
4.24%
0.00%
0.00%
5.59%
6.06%
6.77%
12.40%
9.95%
8.78%
8.85%
8.04%
8.26%
9.16%
8.67%
8.20%
8.25%
8.15%
DIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.06%
0.00%
2.09%
1.53%
0.63%
0.33%
0.34%
1.88%
1.55%
1.88%
1.88%
1.65%
0.81%
0.77%
0.64%
0.63%
0.64%
0.68%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
30.04%
30.25%
28.40%
32.82%
32.37%
32.31%
32.56%
32.24%
31.51%
31.44%
31.57%
31.86%
31.75%
29.67%
31.71%
32.13%
32.28%
31.37%
28.75%
31.58%
32.63%
32.35%
33.64%
34.25%
33.24%
33.16%
33.74%
33.87%
34.32%
Others
17.27%
17.05%
17.28%
12.86%
13.18%
10.79%
10.37%
10.67%
11.30%
11.36%
13.62%
13.27%
9.17%
15.16%
13.68%
8.57%
8.23%
8.43%
8.21%
8.15%
7.93%
8.15%
7.88%
8.01%
8.15%
8.28%
7.95%
7.75%
7.45%
No. of Shareholders
0
703
760
773
3,720
6,454
9,575
17,566
28,485
34,516
42,512
47,863
59,420
68,328
1,18,954
1,54,894
1,95,775
1,97,177
2,14,313
2,58,693
2,91,593
2,93,913
3,21,909
3,24,889
3,12,709
3,05,430
3,09,126
3,11,134
3,09,275

Documents

Frequently Asked Questions about KPI Green Energy Ltd

What does KPI Green Energy Ltd do?
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 ‘Solar...
Where is KPI Green Energy Ltd (KPIGREEN) listed?
KPI Green Energy Ltd is listed on the Indian stock exchanges. It is listed on NSE: KPIGREEN and BSE: 542323. You can view its live share price, financials, and ratios on Tapetide.
Which sector does KPI Green Energy Ltd belong to?
KPI Green Energy Ltd operates in the Power sector within the Power Generation industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of KPI Green Energy Ltd?
KPI Green Energy Ltd has a market capitalisation of approximately ₹6112.02 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of KPI Green Energy Ltd?
The Price-to-Earnings (PE) ratio of KPI Green Energy Ltd is 13.32. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of KPI Green Energy Ltd?
Over the past 52 weeks, KPI Green Energy Ltd has traded between a low of ₹301.2 and a high of ₹542.25. This range helps investors understand the stock's price volatility and recent trading levels.
Does KPI Green Energy Ltd pay dividends?
Yes, KPI Green Energy Ltd has a dividend yield of 0.21%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of KPI Green Energy Ltd?
KPI Green Energy Ltd has a Return on Equity (ROE) of 12.37%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research KPI Green Energy Ltd on Tapetide?
On Tapetide, you can view KPI Green Energy Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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

Website kpigreenenergy.com
CEO Dr. Farukbhai Gulambhai Patel
Listed 2021-07-27
Face Value ₹ 5
Issued Size 19,73,41,073

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