KPI Green Energy (542323) Q4 24/25 earnings summary

Executive summary

• Achieved record revenue and profitability in Q4 FY25 and full year FY25, with FY25 revenue at ₹1,755.16 crore, up 70% year-over-year, and PAT at ₹325.28 crore, up 101% year-over-year.

• Installed capacity reached 950+ MW, with cumulative installed and upcoming capacity at 3.90+ GW.

• Added 2.6 GW of new orders, with 950 MW of renewable energy already commissioned.

• Signed MOUs with Odisha, Rajasthan, and Madhya Pradesh for large-scale solar and hybrid projects, supporting nationwide expansion.

• Market capitalization stood at ₹8,201 crore as of May 13, 2025, with a positive ICRA outlook and a target of 10+ GW by 2030.

Financial highlights

• Q4 FY25 revenue reached ₹577.80 crore, up 97% year-over-year; EBITDA rose 76% to ₹169.43 crore; PAT increased 142% to ₹104.18 crore.

• FY25 revenue was ₹1,755.16 crore, up 70% year-over-year; EBITDA at ₹580.87 crore, up 69%; PAT rose 101% to ₹325.28 crore; PBT up 103% to ₹440.90 crore.

• PAT margin improved by 285 bps to 18.5%; basic EPS for FY25 was ₹16.23.

• Cash and cash equivalents at year-end rose to ₹597 crore.

• Final dividend of 4% (₹0.20 per share) recommended for FY25.

Outlook and guidance

• Targeting 60%-70% annual revenue growth for the next year, with strong order book visibility through FY27.

• 1.5 GW of IPP capacity to be operational in phases over the next two years, with full revenue impact by FY28.

• Aggressive nationwide expansion through MoUs and focus on large-scale solar, hybrid, and green hydrogen projects; BESS and offshore wind under evaluation.

• Major order inflows expected in Q1 and Q2 to further strengthen the pipeline.

• Management anticipates continued growth, leveraging robust order book and new contracts with state-run utilities.