KPI Green Energy (542323) Q2 25/26 earnings summary

Executive summary

• Achieved sixth consecutive quarter of record revenue and profitability, with H1 FY26 revenue of ₹1,255 crore and PAT of ₹228 crore, driven by robust order offtake, expansion into new geographies and sectors, and scalable growth in solar and hybrid portfolios.

• Installed capacity reached over 1.07 GW, with 3.08+ GW orders in hand and a land bank of 6,680+ acres as of H1 FY26.

• Ambitious target set to reach 10 GW by 2030, supported by a strong project pipeline, strategic collaborations, and expansion into data centers, AI, and life sciences.

• Signed MOUs for battery storage, green hydrogen, EV charging, and green ammonia, reinforcing commitment to sustainability-driven growth.

Financial highlights

• H1 FY26 revenue reached ₹1,255.26 crore, up 76.5% YoY; Q2 revenue at ₹641.1 crore, up 78% YoY; EBITDA for H1 at ₹449.3 crore, up 68% YoY; PAT for H1 at ₹228 crore, up 67.7% YoY.

• EPS for H1 FY26 improved to ₹10.8 from ₹7.36 YoY; cash profit up 94% YoY to ₹334 crore.

• Net worth increased 9% to ₹2,871 crore; fixed assets up 23% to ₹3,102 crore compared to FY25.

• Cash and cash equivalents at ₹829 crore, up 168% from H1 FY25.

• Second interim dividend of 5% (₹0.25 per share) declared for FY26.

Outlook and guidance

• Targeting 10 GW capacity by 2030, with 1.5 GW IPP expected by December 2026 and 1.2 GWp under construction.

• Anticipates substantial revenue and EBITDA growth in the second half as new IPP plants become operational; Sun Drops Energy expects 65-70% revenue growth in H2 over H1.

• Strategic focus on green hydrogen, BESS, offshore wind, and floating solar to drive future growth.

• Plans to list Sun Drops Energy in the next financial year.