Board Meeting Details

The Board of Directors meeting was held on November 13, 2026, commencing at 12:00 pm and concluding at 01:10 pm. The Board approved the standalone and consolidated unaudited financial results for the quarter and half year ended September 30, 2026.

Financial Results - Consolidated (Rs. in Lacs)

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Revenue from Operations: ₹7,272.13 (Q2 FY27) vs ₹6,342.98 (Q2 FY26)
  • Other Income: ₹142.82 (Q2 FY27) vs ₹68.46 (Q2 FY26)
  • Total Revenue: ₹7,414.95 (Q2 FY27) vs ₹6,411.44 (Q2 FY26)
  • Total Expenses: ₹6,109.65 (Q2 FY27) vs ₹4,833.90 (Q2 FY26)
  • Profit Before Tax: ₹1,305.31 (Q2 FY27) vs ₹1,577.55 (Q2 FY26)
  • Tax Expense: ₹385.87 (Q2 FY27) vs ₹411.12 (Q2 FY26)
  • Profit After Tax: ₹919.42 (Q2 FY27) vs ₹1,166.43 (Q2 FY26)
  • EPS (Basic): ₹4.17 (Q2 FY27) vs ₹5.53 (Q2 FY26)
  • EPS (Diluted): ₹4.15 (Q2 FY27) vs ₹5.50 (Q2 FY26)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from Operations: ₹14,210.53 (H1 FY27) vs ₹12,372.41 (H1 FY26)
  • Other Income: ₹302.58 (H1 FY27) vs ₹180.22 (H1 FY26)
  • Total Revenue: ₹14,513.11 (H1 FY27) vs ₹12,552.63 (H1 FY26)
  • Total Expenses: ₹11,899.10 (H1 FY27) vs ₹9,483.12 (H1 FY26)
  • Profit Before Tax: ₹2,614.01 (H1 FY27) vs ₹3,069.51 (H1 FY26)
  • Tax Expense: ₹746.50 (H1 FY27) vs ₹789.92 (H1 FY26)
  • Profit After Tax: ₹1,865.75 (H1 FY27) vs ₹2,279.59 (H1 FY26)
  • EPS (Basic): ₹8.50 (H1 FY27) vs ₹10.80 (H1 FY26)
  • EPS (Diluted): ₹8.47 (H1 FY27) vs ₹10.74 (H1 FY26)

Revenue Breakdown (Q2 FY27)

  • Revenue from Sale of Power & Services: ₹1,012.01
  • Revenue from Sales of Captive Power Project: ₹6,260.12
  • Revenue from Sales of Plot: ₹0.00 (compared to ₹86.39 in Q1 FY27)

Expense Breakdown (Q2 FY27)

  • Cost of Materials consumed: ₹3,668.92
  • Employee benefits expense: ₹166.25
  • Finance Costs - Interest Expense: ₹790.56
  • Finance Costs - Lease Finance Cost: ₹132.59
  • Depreciation and amortisation expense: ₹603.22
  • Other expenses: ₹635.81

Balance Sheet Position (Consolidated as of September 30, 2026)

  • Total Assets: ₹12,036.90
  • Non-Current Assets: ₹8,295.61
  • Current Assets: ₹3,741.30
  • Total Equity: ₹3,525.11
  • Non-Current Liabilities: ₹5,747.36
  • Current Liabilities: ₹2,764.43
  • Paid-up equity share capital: ₹98.84 (Face Value: ₹5/- each)

Cash Flow Statement (H1 FY27)

  • Cash from Operating Activities: ₹4,059.16
  • Cash from Investing Activities: ₹(14,823.42)
  • Cash from Financing Activities: ₹11,838.62
  • Net Change in Cash: ₹1,074.36
  • Cash and cash equivalents at end: ₹223.56

Financial Results - Standalone (Rs. in Lacs)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹5,172.56
  • Profit Before Tax: ₹908.56
  • Profit After Tax: ₹623.87
  • EPS (Basic): ₹3.16
  • EPS (Diluted): ₹3.15

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹10,194.67
  • Profit Before Tax: ₹1,840.12
  • Profit After Tax: ₹1,289.66
  • EPS (Basic): ₹6.52
  • EPS (Diluted): ₹6.50

Key Operational and Strategic Developments

ESOP Grant

During the quarter, the Compensation Committee granted 545,104 stock options to eligible employees under the Company's KPI Green - ESOP 2023. Each stock option entitles the holder to receive one equity share of the Company having a face value of ₹5 upon exercise.

Acquisition Activity

Sun Drops Energia Limited, a material subsidiary, acquired 1,07,47,760 equity shares of DEK and Mavericks Green Energy Limited (DMGEL), representing 62.91% of its paid-up equity share capital, on September 26, 2026. The acquisition was undertaken through a share-swap arrangement, with Sun Drops Energia Limited allotting 10,00,098 Compulsorily Convertible Preference Shares (CCPS) to the shareholders of DMGEL as consideration.

Subsidiary Information

The consolidated results include the following entities:

1. KPI Green Energy Limited (Holding Company)

2. Sun Drops Energia Limited (Subsidiary)

3. KPIG Energia Private Limited (Subsidiary)

4. KPark Sunbeat Private Limited (Subsidiary)

5. KPGC IFSC Global Corporation Private Limited (Subsidiary)

6. KPGC One Private Limited (Subsidiary)

7. Miyani Power Infra LLP (Subsidiary)

8. KPIN Clean Power One LLP (Subsidiary)

9. KPIN Clean Power Two LLP (Subsidiary)

10. KPIN Clean Power Three LLP (Subsidiary)

11. KPIN Clean Power four LLP (Subsidiary)

12. KPIN Clean Power five LLP (Subsidiary)

13. KPGC Two Private Limited (Subsidiary)

14. DEK and Mavericks Green Energy Limited (Step-down Subsidiary)

Debt Security Coverage

The Secured, Listed, Rated, Redeemable Non-Convertible Debentures (NCDs) of the Company aggregating to ₹572.85 crore as on September 30, 2026 are secured by:

(a) A first ranking exclusive fixed charge over specified fixed assets comprising 110.7 MW of generating independent power producer (IPP) projects

(b) A first ranking exclusive fixed charge over specified assets comprising 24.7 MW of revenue generating IPP projects of KPIG Energia Private Limited and 10 MW of revenue generating IPP projects of KPARK Sunbeat Private Limited

The security cover based on the book value of the Identified Collateral is 1.23 times, exceeding the required 1.20 times cover as per the Debenture Trust Deed.

Financial Ratios (Consolidated)

  • Debt Equity Ratio: 1.84
  • Current Ratio: 1.35
  • Debt Service Coverage Ratio: 2.37
  • Interest Service Coverage Ratio: 3.07
  • Operating Margin: 36.97%
  • Net Profit Margin: 12.40%
  • Debtors Turnover Ratio: 138 days
  • Inventory Turnover Ratio: 297 days