KPI Green Energy Q1 Results- Revenue Up 74% YoY, Profits Up 98%

Surat based renewable EPC developer KPI Green Energy has announced its Q1 results today, August 8. Reflecting the strong order book it has been building up since the past 2 years, revenues were up 74% to almost Rs 350 crores year on year, while profitability improved further to 98% at Rs 66 crores for the quarter.

On a sequential basis, the performance was no less strong, with topline up 20% over the Rs 289 crores recorded in Q4 of Fy24. Profits on a sequential basis in Q1 FY 25 rose 53% over the Rs 43 crores recorded in the past quarter.

All the EPC revenues have been booked on sale of power projects, where the firm’s strong suit until recently  was captive power projects. It added 15 MW during the quarter, even as its IPP operations gathered strength with 13 MW added during Q1, for a total of 28 MW for the quarter.

Power sales expectedly dipped slightly in Q1 over Q4 of Fy24, while rising YoY to Rs 45 crores versus Rs 42 crores in the same quarter last year. The board of the firm declared a maiden dividend of Rs 0.20 per share as well.

The strong sales indicate the strong momentum behind the firm’s growth, with a strong pipeline of projects to be executed over the next few months in Fy25. With 473 MW of installed capacity in place till date, the firm has an order book of 2.3 GW to be executed. There is also 1.8 GW of evacuation capacity in place.

The firm has an ambitious target of establishing 10 GW of renewable capacity by 2030, while it has a present land bank of 2686 acres.

With a very strong presence in Gujarat, India’s renewable energy hub in more ways than one, KPI Green has also expanded to cover Hybrid renewable projects in the past year, adding some wind projects to its portfolio.