KPI Green Energy Limited is an India-based solar power generation company. The Company is focused on providing solar power through different business verticals. KPI Green Energy Limited was formerly incorporated in the name of 'KPI Global Infrastructure Limited' on February 01, 2008, in Mumbai. The Company obtained Certificate of Commencement of Business on August 22, 2008. Thereafter, the Company changed the name from KPI Global Infrastructure Limited to KPI Green Energy Limited effective from April 06, 2022.
The Company develops, builds, owns, operates and maintains solar power plants as an Independent Power Producer (IPP) and Captive Power Producers (CPP), both under the brand name Solarism. The Company's IPP segment develops and maintains grid-connected solar power projects and sells power units generated from Company's solar plants. Its CPP segment develops, transfers, operates and maintains grid-connected solar power projects and sells these projects to customers.
The Company is a multi-dimensional solar energy player, with interests in power generation as an Independent Power Producer (IPP), turnkey solutions for Captive Power Producers (CPP), and Operations & Maintenance (O&M) services. It functions in all of these areas under the brand name of 'Solarism'. Incorporated in 2008 based out of Gujarat, the Company scaled up to be one of the most relevant players in the industry by focusing on harnessing the solar energy through various business verticals. The Company is a prominent incumbent in the solar energy space.
The company operates under two main business segments that collectively provide comprehensive solar power solutions to various client categories. The IPP segment involves developing grid-connected solar power projects and selling power units generated from company-owned solar plants directly to electricity distributors and consumers. The CPP segment focuses on developing, transferring, operating and maintaining grid-connected solar power projects specifically for industrial and commercial clients who require captive power solutions.
The company is headed by Mr. Faruk G. Patel, who has extensive experience in the solar and wind energy sector, and Chief Operating Officer (COO) Mr. Shaheedul Hasan, who has a degree in engineering in electronics and has been involved in the lifecycle of a telecom network and solar power plant. The Company has won the 2016 Excellence in Solar Park Award from Mission Energy Foundation, Mumbai, and the Promoter has made Legends of Surat 2018 from Gujarat Mitra.
Net profit of KPI Green Energy rose 130.34% to ₹99.14 Crore in the quarter ended March 2025, as against ₹43.04 Crore during the previous quarter ended March 2024. Sales rose 96.78% to ₹569.41 Crore in the quarter ended March 2025, as against ₹289.36 Crore during the previous quarter ended March 2024.
On a consolidated basis, total income stood at ₹577.80 Crore in Q4 FY25, up 97% from ₹292.97 Crore in Q4 FY24, supported by higher project execution, enhanced capacity utilization, and favorable industry dynamics. EBITDA was at ₹169.43 Crore in Q4 FY25, registering a 76% YoY increase compared to ₹96.17 Crore in Q4 FY24, driven by improved operating leverage and strategic cost efficiencies.
For the full year, net profit rose 101% to ₹325 Crore while net sales rose 69% to ₹1,735 Crore in the year ended March 2025 over the year ended March 2024. EBITDA was ₹580.87 Crore in FY25, an increase of 69% YoY, fueled by economies of scale, operational optimization, and cost management strategies.
PBT stood at ₹440.9 Crore in FY25, a sharp 103.2% growth YoY. Strategic debt repayment, improved liquidity, and strong financial execution contributed significantly to this performance. Consolidated net cash inflow from operating activities stood at ₹208 Crore as on March 31, 2025, as against net cash outflow ₹57 Crore as on March 31, 2024.
- Market Cap: ₹10,209 Crore
- Revenue: ₹569.41 Crore as on March 2025 (Q4 FY25).
- Net Profit: ₹104.18 Crore as on March 2025 (Q4 FY25).
- Stock P/E: 31.8
- Book Value: ₹133
- ROCE: 17.5%
- ROE: 18.7%
- Dividend Yield: 0.09%
KPI Green Energy Ltd. aims to clock an annual revenue growth of up to 60% till FY 2030 on the back of a strong order book, according to Faruk Patel, chairman and managing director (CMD), KP Group. CMD Faruk Patel reiterated KPI Green's long-term commitment to becoming a leading renewable energy platform with a target of 10+ GW capacity by FY2030.
Over 950+ MW installed capacity till FY25, with another 1,200+ MW in advanced stages of implementation. Land bank of 5,946+ acres and 3.26+ GW evacuation capacity ensures execution headroom without major bottlenecks. With a robust order book and high commissioning visibility, KPI is well-positioned to maintain the FY26 growth guidance of ~60% YoY.
KPI Green Energy's subsidiary awarded 100 MW solar project order from Avichal Power, completion by FY 2026-27. KPI Green Energy, through its subsidiary Miyani Power Infra LLP, has received ISTS connectivity for a 642.6 MW wind project in Gujarat, enhancing renewable energy integration into the national grid.
KPI Green Energy's shares rose significantly following KP Group's signing of three strategic MoUs with Delta Electronics, focusing on battery storage, green hydrogen, and solar inverters, enhancing India's clean energy capabilities.
- The Company commissioned an additional 25MW of capacity, aggregating to 40.762MW under Independent Power Purchase (IPP) category in 2019.
- Further, it commissioned 3.12 MW capacity taking total tally to 6.20 MW in CPP business vertical in 2019-20.
- In 2021, the Company commissioned incremental IPP Capacity aggregating to 49.2 MW and also charged new 11kV transmission line for power evacuation capacity for CPP client.
- In 2022, the Company energized 100 MW capacity under the IPP Division, further it commissioned 65 MW capacity under CPP segment.
- In 2023, the Company commissioned 26.10 MW first ever Wind-Solar Hybrid Power Plant and further commissioned 300 MW cumulative capacity for IPP & CPP vertical.
As of the last reported quarter for KPI Green Energy Ltd., Promoter held 48.8%, the FII held 8%, DII held 1.7%, and the public held 41.5% of the total shares. Promoters have pledged or encumbered 45.5% of their holding.
In the quarter ending December 2024, KPI Green Energy Ltd has declared a dividend of ₹0.20, translating to a dividend yield of 0.15%. Listing date: July 27, 2021.
KPI Green Energy Limited stands as a significant player in India's renewable energy sector, demonstrating consistent growth in both operational capacity and financial performance. The company's strategic focus on solar power generation through its dual business model of IPP and CPP segments, combined with its ambitious expansion plans and strong financial execution, positions it well for continued growth in the rapidly expanding clean energy market.
