Kalpataru Projects International Limited (KPIL) AI Stock Analysis

• Market Cap: ₹204.88B
• Dividend Yield: 0.77%
• Average Volume (3M): 4.38K
• Price to Earnings (P/E): 24.8
• Beta (1Y): 1.72
• Revenue Growth: 25.09%
• EPS Growth: 50.01%
• Country: IN
• Employees: 8,441
• Sector: Real Estate
• Sector Strength: 53
• Industry: Engineering & Construction
• EPS (TTM): 13.30
• Shares Outstanding: 170,772,550
• 10 Day Avg. Volume: 2,857
• 30 Day Avg. Volume: 4,382
• PEG Ratio: 2.09
• Price to Book (P/B): 2.49
• Price to Sales (P/S): 0.73
• P/FCF Ratio: 47.76
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: ₹1,464.00 ▲(22.39% Upside)

Kalpataru Projects International Limited's overall score is driven by strong financial performance and positive technical indicators. The company's revenue growth and operational efficiency are significant strengths, though rising liabilities and cash flow challenges present some risks. The stock's valuation suggests it may be overvalued, which could limit upside potential. The absence of earnings call and corporate events data means these factors did not influence the score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, enhancing long-term sustainability and competitive positioning.

Operational Efficiency

Strong gross profit margins reflect effective cost control and operational efficiency, which are crucial for maintaining profitability and competitive advantage.

Equity Position

A solid equity base with a manageable debt-to-equity ratio ensures financial stability and provides flexibility for future growth opportunities.

Negative Factors

Rising Liabilities

Increasing liabilities can strain financial resources and limit strategic options, potentially impacting long-term financial health if not addressed.

Free Cash Flow Challenges

Challenges in generating free cash flow can limit the company's ability to invest in growth initiatives and respond to market changes, affecting long-term competitiveness.

EBITDA Margin Concerns

A lower EBITDA margin compared to EBIT margin may indicate underlying cost issues or inefficiencies, potentially impacting profitability and operational effectiveness.

Kalpataru Projects International Limited Business Overview & Revenue Model

Company Description

Kalpataru Projects International Limited provides engineering, procurement, and construction (EPC) services relating to buildings and factories, power transmission and distribution, roads and bridges, water pipelines, railway track laying and electrification, and oil and gas pipelines in India and internationally. The company operates in Engineering, Procurement and Construction; and Developmental Project segments. It designs, tests, fabricates, erects, constructs, and maintains transmission lines, power substations, oil and gas infrastructure, railway projects, and civil contracting services for buildings and factories, airports, water infrastructure, and highways and metro construction on a turnkey basis. The company also provides EPC contracting services for cross-country pipelines, terminals, and gas gathering stations across various territories; and EPC services for executing civil infrastructure, bridges, gauge conversion, signaling and telecommunication, traction sub-station, and over-head electrification projects for railways. In addition, it engages in the high voltage substation business in air insulated and gas insulated markets; and manufacture of railway structure, as well as operates two biomass power generation plants. Further, the company is involved in the agri-storage infrastructure with value added services, such as warehousing, processing, trading, funding facilitation, collateral management, testing and certification, and pest management and control activities, as well as preservation, maintenance, and security. The company was formerly known as Kalpataru Power Transmission Limited and changed its name to Kalpataru Projects International Limited in May 2023. Kalpataru Projects International Limited was incorporated in 1981 and is based in Mumbai, India.

How the Company Makes Money

KPIL generates revenue primarily through its EPC contracts, where it undertakes large-scale projects for government and private sector clients. The company earns income by charging for its services in design, procurement, and construction management. Key revenue streams include project execution fees, consultancy services, and ongoing maintenance contracts. Additionally, KPIL benefits from strategic partnerships with international firms and government agencies, which enhance its capabilities and market reach. The company's focus on renewable energy projects also positions it advantageously in a growing market, contributing to its overall financial performance.

Kalpataru Projects International Limited Financial Statement Overview

Summary

Kalpataru Projects International Limited demonstrates strong revenue growth and operational efficiency, evidenced by its increasing profit margins and revenue growth. The balance sheet shows a healthy equity position, although rising liabilities need monitoring. Cash flow generation is adequate but could be improved for better financial flexibility. Overall, the company is on a positive trajectory with manageable risks.

Income Statement

Kalpataru Projects International Limited has shown a consistent revenue growth over the years, with a notable revenue growth rate of 13.71% from 2024 to 2025. The gross profit margin remains strong at 24.09% in 2025, indicating efficient cost management. The net profit margin improved slightly to 2.62% in 2025, which is modest but shows positive momentum. The EBIT margin is robust at 14.63%, reflecting good operational efficiency. However, the EBITDA margin is lower than EBIT margin, which is unusual and might require further analysis.

Balance Sheet

The company maintains a solid equity base with a debt-to-equity ratio of 0.66 in 2025, which is sustainable but indicates a reliance on debt. The return on equity has improved to 8.99% in 2025, showing efficient use of shareholders' investments. The equity ratio is stable at 25.46%, reflecting a balanced capital structure. However, the total liabilities have increased, suggesting potential risks if not managed carefully.

Cash Flow

The cash flow statement reflects a mixed picture, with a decline in free cash flow from 2024 to 2025. The operating cash flow to net income ratio is 1.56, indicating that the company generates sufficient cash from operations. However, the free cash flow to net income ratio is lower at 0.58, suggesting potential challenges in generating free cash flow. The overall cash flow health is adequate, but improvements could enhance financial flexibility.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	239.00B	223.16B	196.26B	163.61B	147.77B	129.49B
Gross Profit	63.08B	58.53B	52.07B	42.40B	38.90B	38.14B
EBITDA	18.81B	17.29B	16.55B	12.97B	11.20B	13.97B
Net Income	7.06B	5.86B	5.10B	4.41B	5.40B	6.71B
Balance Sheet
Total Assets	0.00	255.84B	220.38B	195.81B	172.12B	153.54B
Cash, Cash Equivalents and Short-Term Investments	17.59B	19.09B	10.18B	14.85B	11.70B	6.63B
Total Debt	0.00	43.14B	40.08B	37.87B	38.38B	32.60B
Total Liabilities	-64.69B	191.15B	169.25B	148.88B	127.94B	114.95B
Stockholders Equity	64.69B	65.13B	51.38B	47.20B	42.79B	37.38B
Cash Flow
Free Cash Flow	0.00	3.39B	4.91B	-1.15B	4.06B	6.70B
Operating Cash Flow	0.00	9.14B	8.43B	6.56B	7.14B	9.31B
Investing Cash Flow	0.00	-7.18B	-2.63B	-3.26B	-2.55B	77.50M
Financing Cash Flow	0.00	4.00B	-5.24B	-4.38B	249.90M	-8.97B

Kalpataru Projects International Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1196.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KPIL, the sentiment is Positive. The current price of 1196.15 is above the 20-day moving average (MA) of 1172.22, below the 50-day MA of 1222.18, and above the 200-day MA of 1147.18, indicating a neutral trend. The MACD of -14.66 indicates Negative momentum. The RSI at 53.35 is Neutral, neither overbought nor oversold. The STOCH value of 78.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KPIL.

Kalpataru Projects International Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MINDSPACE	74 Outperform	₹286.26B	57.14	―	0.00%	14.72%	-4.44%
KPIL	73 Outperform	₹204.88B	24.77	―	0.77%	25.09%	50.01%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
BRIGADE	62 Neutral	₹214.58B	26.96	―	0.28%	11.20%	57.52%

Kalpataru Projects International Limited Corporate Events

Kalpataru Projects Faces Tax Penalty, Plans Appeal

Kalpataru Projects International Limited has received an order from the Central Excise & GST Authority demanding a penalty of INR 7.11 Crores related to alleged wrong availment of Cenvat credit by the erstwhile JMC Projects for the fiscal year 2014-15. The company plans to appeal the order, asserting that it has a strong case, and states that the penalty will not significantly impact its financial or operational activities.

Kalpataru Projects Secures ₹ 2,332 Crores in New Orders

Kalpataru Projects International Limited has announced securing new orders worth approximately ₹ 2,332 crores in its Power Transmission & Distribution (T&D) and Buildings & Factories (B&F) sectors. These orders, which include international T&D projects and domestic B&F projects, contribute to a cumulative order inflow of nearly ₹ 15,000 crores for FY26, marking a 25% year-on-year growth. This development reinforces KPIL’s leadership in the international T&D market and highlights its expanding presence in India’s civil construction sector, providing a strong growth outlook for the upcoming quarters.