Financial Performance Highlights

Q2 FY27 vs Q2 FY26 Performance

  • Revenue: ₹7,004 crores, representing 7% year-over-year growth
  • Comparable revenue growth (excluding Road SPVs and Brazil business): 13% YoY
  • Profit Before Tax (PBT): ₹398 crores, up 24% YoY
  • PBT Margin: 5.7%, expanding by 80 basis points
  • Profit After Tax (PAT): ₹292 crores, up 23% YoY

H1 FY27 vs H1 FY26 Performance

  • Revenue: ₹13,412 crores, representing 6% year-over-year growth
  • Comparable revenue growth (excluding Road SPVs and Brazil business): 11% YoY
  • Profit Before Tax (PBT): ₹818 crores, up 34% YoY
  • PBT Margin: 6.1%, expanding by 130 basis points
  • Profit After Tax (PAT): ₹603 crores, up 34% YoY

Balance Sheet and Financial Position

  • Net Debt: ₹72 crores as of September 30, 2026, reduced by over 98% from ₹3,169 crores as of September 30, 2025
  • Net Working Capital Days: 68 days as of September 30, 2026, improved by 12 days quarter-over-quarter
  • Credit Rating: Upgraded to AA+/Stable by both CRISIL and India Ratings

Order Book and Business Development

  • YTD FY27 Order Inflows: ₹23,934 crores, representing 60% year-over-year growth
  • Recent Order Wins: Additional ₹1,613 crores received
  • L1 Position: Approximately ₹5,000 crores worth of projects, mainly in T&D business
  • Consolidated Order Book: ₹71,846 crores as of September 30, 2026 (all-time high)

Subsidiary Development

  • Linjemontage (Sweden subsidiary) listed on Nasdaq Stockholm in September 2026
  • Listing Market Capitalization: Approximately ₹2,300 crores
  • This marks KPIL as the first company to list an international subsidiary on Nasdaq Stockholm

Management Commentary

Mr. Manish Mohnot, MD & CEO, commented that the strong performance was driven by robust revenue growth, margin expansion, and healthy EPS growth supported by an all-time high order book and resilient balance sheet. He highlighted the achievement of near net-debt-free status and one of the strongest credit ratings in India's EPC sector. The company has secured large and complex projects across Power Transmission, Oil & Gas, Water, and Industrial Plants, reflecting expanding capabilities and execution track record.

Business Segments

The company operates across multiple segments including Power Transmission & Distribution (T&D), Buildings & Factories (B&F), Water, Oil & Gas, Railways, and Urban Infrastructure.