KPI Green Energy (542323) Q3 24/25 earnings summary

Executive summary

• Achieved record-breaking Q3 FY2025 performance with highest-ever turnover for the third consecutive quarter, reflecting strong market positioning and operational efficiency.

• Total revenue for Q3 FY2025 was ₹466.1 crore, up 40.6% year-over-year; nine-month revenue reached ₹1,177.35 crore, a 59.5% increase over the prior year.

• EBITDA for Q3 was ₹144.54 crore (38% YoY growth); nine-month EBITDA was ₹411.44 crore, up 66% and surpassing the previous full-year figure.

• Profit after tax for Q3 was ₹85.15 crore, up 68.26% YoY; nine-month PAT was ₹221.1 crore, an 86% increase.

• Major contracts secured, including a 300 MW Coal India solar project, a 100 MW Mahagenco project in Maharashtra, and MoUs in Rajasthan and Odisha for large-scale renewable and hybrid projects.

Financial highlights

• Q3 FY25 consolidated revenue: ₹466.1 crore (+40.6% YoY); nine-month revenue: ₹1,177.35 crore (+59.5% YoY), surpassing FY24 full-year revenue.

• Q3 EBITDA: ₹144.54 crore (+38% YoY); nine-month EBITDA: ₹411.44 crore (+66% YoY).

• Q3 PAT: ₹85.15 crore (+68.26% YoY); nine-month PAT: ₹221.1 crore (+86% YoY); basic EPS for 9MFY25: ₹17.51.

• PAT margin improved to 18.8% for 9MFY25; interest coverage ratio increased to 5.64x.

• Surpassed previous full-year figures in all key financial parameters.

Outlook and guidance

• Minimum revenue growth guidance for FY2025 set at 60%; ambitious target to reach 10 GW installed capacity by 2030.

• Strong order book and land bank position the company for continued expansion and execution of large-scale projects.

• Demand for renewable energy expected to accelerate, with government support and new geographies targeted.

• International expansion and entry into new technologies (hydrogen, battery storage) under consideration.

• Positive outlook rating by ICRA, reflecting confidence in future growth and execution.