MarketFriction

KPI Green Energy Ltd

NSE KPIGREEN · BSE 542323 · Power Generation
₹345.60 -3.72%
NSE close2026-10-01
52 week range271.90 - 542.25
Market cap₹7,339 Cr.
P/E16.1
Microcap 250 ASM short-term Price band 20% Delivery 27.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales215330289348360458569603634663796694
Expenses144227196216226322408397409427505448
Operating Profit7110493132134137161206226236291246
OPM %33%31%32%38%37%30%28%34%36%36%37%35%
Other Income1130188117161416
Interest182325282315143843485380
Depreciation101011141515163032333951
Profit before tax4472609197115139149158170214131
Tax %21%29%28%27%28%26%25%25%26%26%27%28%
Net Profit35514366708510411111712615595
EPS in Rs2.142.802.383.663.554.295.045.275.535.977.364.33
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales34591022306441,0241,7352,6962,787
Expenses1932441214356871,1721,7381,789
Operating Profit152758109208337564958998
OPM %45%46%57%47%32%33%32%36%36%
Other Income600137174853
Interest481637478679182224
Depreciation471314234061133154
Profit before tax13123059142217441691673
Tax %31%46%27%27%23%26%26%26%
Net Profit962243110162325509493
EPS in Rs0.550.401.352.666.748.9416.2324.1323.19
Dividend Payout %0%0%0%4%9%3%5%4%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%92%61%40%
Compounded Profit Growth%85%63%27%
Stock Price CAGR%92%27%-16%
Return on Equity%21%20%17%
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1818181836609899
Reserves81801021362227752,3252,935
Borrowings401392404466761,0361,4755,197
Other Liabilities2261491773225648941,651
Total Liabilities1612984097771,2552,4364,7929,882
Fixed Assets842132444828019792,3614,508
CWIP18121310101163918
Investments0000204199
Other Assets59851442644531,3552,2644,257
Total Assets1612984097771,2552,4364,7929,882
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-1740-27102159-57208424
Cash from Investing Activity-15-119-63-189-309-387-1,587-4,071
Cash from Financing Activity3387101911775621,8073,643
Net Cash Flow1811427118427-4
Free Cash Flow-32-79-90-88-151-244-1,297-2,608
CFO/OP-101%154%-43%95%80%-11%48%48%
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1431751785883152122100
Inventory Days374
Days Payable118
Cash Conversion Cycle1431751785883152122356
Working Capital Days388-24232851396168101
ROCE %11%16%20%25%22%18%14%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters54.83%53.08%53.08%53.09%48.77%48.78%48.78%48.67%48.67%49.25%49.49%49.41%
FIIs4.24%5.96%5.60%6.05%9.95%8.78%8.05%8.26%9.16%8.68%8.24%8.16%
DIIs0.00%2.09%0.63%0.33%1.50%1.87%1.64%0.81%0.77%0.63%0.64%0.67%
Public40.91%38.86%40.69%40.51%39.80%40.54%41.52%42.26%41.39%41.46%41.63%41.75%
No. of Shareholders59,42081,4361,54,8941,95,7752,58,6932,91,5933,21,9093,24,8893,12,7093,05,4303,11,1343,09,275

Fundamentals

Market Cap₹ 7,339 Cr.
Current Price₹ 371
Stock P/E16.1
Book Value₹ 154
ROCE13.8 %
ROE17.4 %
Dividend Yield0.24 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)40%
Compounded Profit Growth (TTM)27%
Consolidated figures.
Valuation
Market capRs 6,832 Cr
Enterprise valueRs 7,698 Cr
P/E (TTM)14.92x
Price to book8.17x
Price to sales2.45x
EV / EBITDA7.33x
EV / EBIT8.59x
EV / sales2.76x
Earnings yield6.70%
Dividend yield0.06%
P/E, 3-year average8.19x
P/B, 3-year average1.90x
P/E, 5-year average5.15x
P/B, 5-year average1.16x
Profitability
Operating margin (excl. other income)32.90%
Operating margin (incl. other income)33.54%
EBITDA margin37.70%
Pre-tax margin24.13%
Net profit margin16.43%
Net margin, latest quarter12.34%
ROE29.57%
ROCE21.61%
ROA8.76%
ROE, 3-year average38.15%
ROCE, 3-year average22.09%
ROA, 3-year average8.95%
ROE, 5-year average28.22%
ROCE, 5-year average18.45%
ROA, 5-year average7.17%
ROIC (approx.)39.23%
Tax rate25.51%
Other income / net worth0.79%
Growth
Sales growth (latest year)59.04%
Profit growth (latest year)47.46%
Sales CAGR, 3 years115.52%
Sales CAGR, 5 years97.25%
Profit CAGR, 3 years94.65%
Profit CAGR, 5 years78.58%
Sales growth QoQ-12.81%
Profit growth QoQ-41.08%
Sales growth YoY (latest quarter)15.08%
Profit growth YoY (latest quarter)-17.64%
Per share
EPS (TTM)Rs 23.16
EPS (latest year)Rs 26.82
EPS (latest quarter)Rs 4.33
EPS, 3-year averageRs 27.03
EPS, 5-year averageRs 19.36
Book value per shareRs 42.28
Sales per shareRs 140.98
Cash flow per shareRs -2.91
Free cash flow per shareRs -131.94
Dividend per share (latest year)Rs 0.70
Dividend per share, 3-year averageRs 1.52
Dividend per share, 5-year averageRs 1.52
Dividends
Dividend payout2.61%
Dividend payout, 3-year average5.40%
Dividend payout, 5-year average5.40%
Efficiency
Asset turnover0.42x
Fixed asset turnover1.05x
Inventory turnover1.90x
Inventory days192 days
Debtor days152 days
Debtors turnover2.40x
Creditor days118 days
Cash conversion cycle356 days
Working capital days101 days
Leverage
Total debtRs 1,036 Cr
Cash and bankRs 170 Cr
Net debtRs 866 Cr
Debt to equity1.24x
Net debt / EBITDA0.82x
Interest coverage4.00x
Current ratio (filing 2026-03-31)1.64x
Quick ratio (filing 2026-03-31)0.93x
Trade payables (filing 2026-03-31)Rs 458 Cr
Owners' fund to total sources34.31%
Debt to assets42.55%
Cash flow
Cash from Operating Activity (latest year)Rs -57 Cr
Cash from Investing Activity (latest year)Rs -387 Cr
Cash from Financing Activity (latest year)Rs 562 Cr
Net Cash Flow (latest year)Rs 118 Cr
Free cash flow (latest year)Rs -2,608 Cr
FCFE (approx.: FCF + change in debt)Rs -2,247 Cr
Cash from ops / profit, 5 years0.73x
Statement figures
Net sales (TTM)Rs 2,787 Cr
Net sales (latest year)Rs 1,024 Cr
Sales (latest quarter)Rs 694 Cr
Operating profit excl. other income (latest year)Rs 337 Cr
Operating profit (latest quarter)Rs 246 Cr
Other income (TTM)Rs 53 Cr
EBITDA (TTM)Rs 1,051 Cr
PBDT (TTM)Rs 827 Cr
Profit before tax (TTM)Rs 673 Cr
Tax (latest year)Rs 55 Cr
Net profit (TTM)Rs 458 Cr
Net profit (latest year)Rs 162 Cr
Net profit (latest quarter)Rs 86 Cr
Depreciation (TTM)Rs 154 Cr
Depreciation (latest quarter)Rs 51 Cr
Interest (TTM)Rs 224 Cr
Cost of goods sold (latest year)Rs 633 Cr
Total expenditure (latest year)Rs 687 Cr
Total income (latest year)Rs 1,031 Cr
Share capitalRs 60 Cr
ReservesRs 775 Cr
Shareholders' fundsRs 836 Cr
Total assetsRs 2,436 Cr
Net blockRs 979 Cr
Capital work in progressRs 101 Cr
ReceivablesRs 427 Cr
InventoryRs 334 Cr
Other liabilitiesRs 564 Cr
Shares outstanding (crore)19.77
Ownership
Promoter holding49.41% (+0.74 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 14.9 is at the 2th percentile of its own 5.1-year range (median 122.3, low 13.2, high 364.9).
P/B 8.17 is at the 12th percentile (median 30.02).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodKPIGREENNifty 50Difference
1 week+3.7%-2.8% +6.5 pts
1 month+12.3%-6.8% +19.1 pts
3 months-14.5%-7.6% -6.9 pts
6 months-1.6%+0.4% -2.0 pts
1 year-26.6%-9.9% -16.6 pts
2 years-36.4%-13.6% -22.8 pts
3 years+89.0%+14.2% +74.8 pts
5 years+2318.5%+27.9% +2290.6 pts
7 mutual fund schemes hold about ₹8 Cr. Over three months 0 bought more and 6 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal Nifty Microcap 250 Index Fund0.31%8 -16%
Motilal Oswal BSE Clean Environment Index Fund0.83%0 -3%
Groww Nifty Total Market Index Fund0.01%0 -14%
Angel One Nifty Total Market Index Fund0.01%0 -14%
Mirae Asset Nifty Total Market Index Fund0.01%0 -14%
Bandhan Nifty Total Market Index Fund0.01%0 -14%
Motilal Oswal BSE 1000 Index Fund0.01%0 -14%

Red flags

F-score 3 of 8
explainReceivables outrunning sales Receivables grew 191% vs sales +59% in 2026
lookInventory outrunning sales Inventory grew 102% vs sales +59% in 2026
lookShare dilution Share count up 11% in a year, 11% in three
lookOn NSE surveillance On NSE surveillance: ASM short-term
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹694 Cr +15.1% vs Jun 2025. Net profit ₹95 Cr -14.4%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-22Dividend - Rs 0.25 Per Share/Special Dividend - Re 0.15 Per Share
2026-01-28Interim Dividend - Re 0.20 Per Share
2025-11-14Interim Dividend - Rs 0.25 Per Share
2025-09-12Dividend - Re 0.20 Per Share
2025-08-11Interim Dividend - Re 0.20 Per Share
2025-02-18Interim Dividend - Re 0.20 Per Share
2025-01-03Bonus 1:20.6667
2024-11-14Interim Dividend - Rs 0.20 Per Share
2024-10-04Dividend - Re 0.20 Per Share
2024-09-17Annual General Meeting
2024-08-21Interim Dividend - Re 0.20 Per Share
2024-07-18Face Value Split (Sub-Division) - From Rs10/- Per Share To Rs 5/- Per Share0.5000
2024-02-15Bonus 1:20.6667
2023-10-20Interim Dividend - Re 0.25 Per Share
2023-09-21Annual General Meeting
2023-08-22Interim Dividend - Re 0.25 Per Share
2023-02-20Interim Dividend - Re 0.20 Per Share
2023-01-18Bonus 1:10.5000
2022-10-31Interim Dividend - Re 0.25 Per Share
2022-09-20Annual General Meeting
2022-08-22Interim Dividend - Re 0.30 Per Share
2022-05-12Interim Dividend Rs - 2.10 Per Share
2022-01-24Interim Dividend - Rs 0.40 Per Share
2021-11-11 Interim Dividend - Rs 0.60 Per Share
2021-09-21 Annual General Meeting
DateTypeWhat it says
2026-10-01ResignationResignation of Director/KMP/SMP
2026-10-01Change in ManagementChange in Management
2026-09-30Investor PresentationInvestor Presentation
2026-09-30Press ReleaseA press release dated September 30, 2026, titled "KPI Green Energy Signs Binding Offer to Acquire 507.9 MW of Operational Wind Capacity in Gujarat".
2026-09-30AcquisitionProposed Acquisition. The Disclosure is attached herewith.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Trade dateShares sold short
2026-09-301
2026-09-291
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Short Term Additional Surveillance Measure (Short Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03