Kalpataru Projects International (KPIL) Q2 25/26 earnings summary

Executive summary

• Achieved record Q2 FY26 revenue and profitability, with consolidated revenue at ₹6,529 crore (up 32% YoY) and consolidated PAT at ₹237 crore (up 89% YoY), driven by strong execution, a diversified business mix, and robust order inflows.

• Standalone revenue grew 31% YoY to ₹5,419 crore, with standalone PAT up 51% YoY to ₹200 crore.

• Order book reached ₹64,682 crore as of 30 September 2025, with significant wins in T&D and B&F segments.

• Board approved unaudited results for the quarter and half year ended 30 September 2025.

Financial highlights

• Q2 FY26 consolidated revenue: ₹6,529 crore (+32% YoY); standalone: ₹5,419 crore (+31% YoY).

• Q2 FY26 consolidated EBITDA: ₹561 crore (margin 8.6%, +28% YoY); standalone EBITDA: ₹447 crore (margin 8.3%, +28% YoY).

• Q2 FY26 consolidated PAT: ₹237 crore (+89% YoY, margin 3.6%); standalone PAT: ₹200 crore (+51% YoY, margin 3.7%).

• H1 FY26 consolidated revenue: ₹12,739 crore (+33% YoY); PAT: ₹451 crore (+115% YoY).

• Consolidated PBT margin improved by 110 bps to 4.9%.

Outlook and guidance

• On track to achieve 25%+ revenue growth for FY26, above earlier 22-25% guidance.

• Reaffirmed guidance of at least 50 bps PBT margin improvement for FY26.

• Targeting order inflow of over ₹25,000 crore for FY26.

• Positioned for growth with a record order book, strong order inflows, and capex upcycle in key sectors.

• No deviation or variation in the use of proceeds from listed non-convertible debt securities for the quarter ended 30 September 2025.