KPI Green Energy Limited (KPIGREEN) AI Stock Analysis

• Market Cap: ₹88.32B
• Dividend Yield: 0.21%
• Average Volume (3M): 59.50K
• Price to Earnings (P/E): 24.6
• Beta (1Y): 2.04
• Revenue Growth: 68.31%
• EPS Growth: 61.93%
• Country: IN
• Employees: 238
• Sector: Energy
• Sector Strength: 52
• Industry: Renewable Utilities
• EPS (TTM): 5.27
• Shares Outstanding: 197,341,080
• 10 Day Avg. Volume: 72,724
• 30 Day Avg. Volume: 59,500
• PEG Ratio: 0.35
• Price to Book (P/B): 3.14
• Price to Sales (P/S): 4.72
• P/FCF Ratio: -7.26
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹520.00
• Price Target Upside: 16.19% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 66 Neutral
• Price Target: ₹520.00 ▲(16.19% Upside)

KPI Green Energy Limited's overall stock score is driven primarily by its strong financial performance, characterized by impressive revenue growth and profitability. However, technical analysis indicates weak momentum, and the valuation is moderate. The absence of earnings call and corporate events data limits further insights.

KPI Green Energy Limited Business Overview & Revenue Model

Company Description

KPI Green Energy Limited generates and sells solar power under Solarism brand name in India. It develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer, as well as sells land parcels to third parties. The company was formerly known as K.P.I. Global Infrastructure Limited and changed its name to KPI Green Energy Limited in April 2022. The company was incorporated in 2008 and is based in Surat, India.

How the Company Makes Money

KPIGREEN primarily generates revenue through the sale of electricity generated from its solar power plants. The company enters into long-term power purchase agreements (PPAs) with commercial and industrial customers, as well as government entities, ensuring a stable and predictable revenue stream. Additionally, KPIGREEN may earn from providing engineering, procurement, and construction (EPC) services for solar power projects. The company benefits from favorable government policies and incentives promoting renewable energy, which enhance its profitability and expansion capabilities.

KPI Green Energy Limited Financial Statement Overview

Summary

KPI Green Energy Limited shows strong financial performance with impressive revenue growth and profitability metrics. The balance sheet is stable but has notable leverage, and cash flow is impacted by high capital expenditures typical in the renewable sector. Overall, the financial trajectory is positive, but careful management of debt and cash flow is essential.

Income Statement

KPI Green Energy Limited has shown substantial growth in total revenue over the years, particularly impressive in its recent annual results with a revenue growth of 69.5% from 2024 to 2025. The company maintains a strong Gross Profit Margin, reaching 47.3% in 2025. Additionally, both EBIT and EBITDA margins are robust at 44.3% and 32.5%, respectively. The Net Profit Margin is also solid at 18.4% for 2025. These figures indicate strong profitability and operational efficiency, with a consistent upward revenue trajectory, bolstering its competitive position in the renewable utilities industry.

Balance Sheet

The balance sheet of KPI Green Energy reflects a stable equity position with an Equity Ratio of 54.4% in 2025, indicating a well-capitalized structure. However, the Debt-to-Equity Ratio stands at 56.5%, highlighting significant leverage which could pose risks if interest rates rise or cash flows falter. Return on Equity is commendable at 12.2%, showing effective use of equity capital to generate profits. Overall, the balance sheet demonstrates a mix of stability with some leverage-related risks.

Cash Flow

The cash flow position presents a mixed picture. While the Operating Cash Flow to Net Income Ratio is positive at 0.65, indicating reasonable cash conversion, the Free Cash Flow is negative due to substantial capital expenditures, which are typical for growth in the renewable sector. However, the Free Cash Flow to Net Income Ratio is concerning as it remains negative, suggesting potential liquidity challenges. Despite growth investments, maintaining sustainable cash flow will be crucial for future financial health.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	17.35B	17.35B	6.44B	10.24B	2.30B	1.04B
Gross Profit	7.95B	8.21B	2.34B	3.92B	1.22B	712.08M
EBITDA	5.62B	5.64B	2.08B	3.38B	1.05B	629.27M
Net Income	3.20B	3.20B	1.10B	1.62B	432.45M	143.55M
Balance Sheet
Total Assets	47.92B	47.92B	12.55B	24.36B	7.77B	4.81B
Cash, Cash Equivalents and Short-Term Investments	5.97B	5.97B	535.22M	1.70B	269.30M	216.83M
Total Debt	14.75B	14.75B	6.76B	10.36B	4.46B	3.17B
Total Liabilities	21.62B	21.62B	9.97B	16.00B	6.24B	3.68B
Stockholders Equity	26.09B	26.09B	2.58B	8.36B	1.54B	1.12B
Cash Flow
Free Cash Flow	0.00	-11.27B	-1.07B	-2.44B	-882.59M	-902.35M
Operating Cash Flow	0.00	2.08B	1.59B	-574.91M	1.02B	-28.80M
Investing Cash Flow	0.00	-15.87B	-3.09B	-3.87B	-1.89B	-631.14M
Financing Cash Flow	0.00	18.07B	1.77B	5.62B	909.81M	773.02M

KPI Green Energy Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 447.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KPIGREEN, the sentiment is Negative. The current price of 447.55 is below the 20-day moving average (MA) of 480.81, below the 50-day MA of 504.36, and below the 200-day MA of 463.52, indicating a bearish trend. The MACD of -10.58 indicates Positive momentum. The RSI at 28.42 is Positive, neither overbought nor oversold. The STOCH value of 10.58 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KPIGREEN.

KPI Green Energy Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KPIGREEN	66 Neutral	₹88.32B	24.62	―	0.21%	68.31%	61.93%
WEBELSOLAR	62 Neutral	₹51.23B	25.75	55.65%	―	397.23%	―
INOXGREEN	59 Neutral	₹75.83B	198.86	1.01%	―	14.36%	3.96%
BORORENEW	55 Neutral	₹77.28B	-34.37	-6.97%	―	4.94%	-328.07%
SWSOLAR	45 Neutral	₹56.68B	51.89	8.09%	―	108.08%	―
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

KPI Green Energy Limited Corporate Events

KPI Green Energy Secures High Credit Rating for Proposed Green Bonds

KPI Green Energy Limited announced that ICRA Limited has assigned a Provisional [ICRA]AA+(CE) (Stable) rating to its proposed non-convertible debentures, also known as ‘Green Bonds.’ This rating reflects the company’s robust financial performance and growth in FY2025, driven by increased execution of CPP/EPC orders and the commissioning of additional independent power producer capacity. The company’s consolidated revenue and profitability have shown significant improvement, with expectations of continued growth in FY2026, indicating a strong market position and positive outlook for stakeholders.

KPI Green Energy Secures Approval for 76.22 MW Renewable Projects

KPI Green Energy Limited has announced the receipt of charging approval for 76.22 MW of solar and wind-solar hybrid power projects under its Captive Power Producer segment. This approval marks a significant step in the company’s operations, as it enhances its capacity to deliver renewable energy solutions to its clients, including its subsidiary, Sun Drops Energia Private Limited.

KPI Green Energy Expands with New SPV Incorporation

KPI Green Energy Limited has announced the incorporation of a new Special Purpose Vehicle (SPV) named KPIN Clean Power Two LLP, approved by the Ministry of Corporate Affairs. The SPV aims to generate and distribute power using renewable energy sources, marking a strategic step in the company’s expansion within the renewable energy sector.

KPI Green Energy Announces Trading Window Closure Ahead of Financial Results

KPI Green Energy Limited has announced the closure of its trading window in compliance with SEBI regulations, ahead of the declaration of its unaudited financial results for the quarter ending June 30, 2025. This move is a standard procedure to prevent insider trading and maintain transparency, reflecting the company’s adherence to regulatory norms and its commitment to ethical governance.