KPI Green Energy (542323) Q2 24/25 earnings summary

Executive summary

• Achieved record revenue and profitability in H1 FY2025, with strong growth across IPP and CPP segments, supported by robust execution, technological advancements, and a strengthened balance sheet.

• Installed capacity surpassed 665 MW, with ambitious targets to reach 10 GW by 2030 and a zero net-debt position as of September 30, 2024.

• Strategic focus on expanding hybrid (solar + wind) portfolio, geographical diversification, and sustainability initiatives.

Financial highlights

• H1 FY2025 revenue reached ₹711.3 crore, up 75% year-over-year from ₹406.5 crore; EBITDA grew 87% to ₹266.9 crore; PAT doubled to ₹135.9 crore.

• Basic EPS for H1 FY2025 was ₹11.03, up 76% from the prior year.

• PAT margin improved by 238 bps YoY to 19.1%.

• Positive cash flow from operations and cash and cash equivalents at ₹308.5 crore at period end.

• Interim dividend of 4% (₹0.20 per share) declared for FY25.

Outlook and guidance

• FY2025 revenue expected to grow by 60%-70% over the previous year, supported by a robust order book of 2.41+ GW as of September 2024.

• PAT margin guidance maintained at 16%-18%, with potential to rise to 20%-22% as IPP mix increases.

• Targeting 10 GW installed capacity by 2030, with ongoing expansion into new Indian states and international markets.

• Focus on expanding hybrid portfolio and geographical diversification.