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

Executive summary

• Achieved record-breaking revenue and profitability for Q3 and nine months ended December 31, 2024, with nine-month revenue at ₹1,177.35 crore and PAT at ₹221.1 crore, surpassing previous full-year figures.

• Installed capacity reached 533+ MW by Jan 15, 2025, with a project pipeline exceeding 5.2 GW and a land bank of 4,180+ acres.

• Signed MoUs with Rajasthan and Odisha governments for large-scale renewable and hybrid projects, supporting nationwide expansion.

• Secured major contracts, including 300 MW for Coal India and 100 MW for MAHAGENCO, and commenced execution.

• Marquee global investors include Vanguard, BlackRock, Abu Dhabi Investment Authority, and Goldman Sachs.

Financial highlights

• Q3 FY25 revenue: ₹466.1 crore, up 40.6% year-over-year; Q3 PAT: ₹85.15 crore, up 68.26%.

• Nine-month FY25 revenue: ₹1,177.35 crore, up 59.5% year-over-year; EBITDA: ₹411.44 crore, up 66%; PAT: ₹221.1 crore, up 86%.

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

• Basic EPS for 9MFY25: ₹17.51, up from ₹10.87 in 9MFY24.

• Paid-up equity share capital at ₹6,563.02 lakh.

Outlook and guidance

• Minimum revenue growth guidance for FY25 set at 60%, with a target to reach 10 GW installed capacity by 2030.

• Confident in maintaining strong margins and growth momentum, supported by a large order book and expanding land bank.

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

• Ongoing focus on timely project execution, operational efficiency, and cautious expansion.