Q2 FY26: KPI Green Energy Reports 76.5% Revenue Growth, PAT Rises 67.7%

KPI Green Energy, the solar EPC arm of the Surat-based KP Group, has delivered another record-breaking Q2 FY 2025–26, achieving its sixth consecutive quarter of the highest-ever revenue and best-ever half-yearly results. This performance reflects the company’s scalable growth across both solar and hybrid portfolios. The firm breezed past the Rs 1000 crore mark in revenues in H1 FY26 for the first time.  

On a consolidated basis in H1 FY 2025-26 vs H1 FY 2024-25, KPI Green earned a total revenue of ₹1,255.26 crore, up 76.5% from ₹711.26 crore. 

Its EBITDA in H1 FY26 came in at ₹449.3 crore, up 68% from ₹266.9 crore in FY25 H1, driven by operating leverage and enhanced cost efficiency. Its Profit Before Tax (PBT) also reached ₹306.95 crore, up 63.9% from ₹187.26 crore, supported by higher project volumes and operational excellence.

Profit After Tax (PAT) reached ₹227.96 crore, up 67.7% from ₹135.95 crore 

The Farukh Patel-led firm, which is part of the broader KP Group with a strong presence in engineering and wind energy as well, is well placed for future growth with a land bank of over 6000 acres and power evacuation capacity of over 3.4 GW in place.

Q2 FY 2025-26 vs Q2 FY 2024-25: 

• Total Revenue: ₹641.1 crore, up 77.4% from ₹361.4 crore, driven by accelerated project execution and strong segmental performance. 
• EBITDA: ₹232.4 crore, up 73% from ₹134.5 crore, reflecting operational efficiency and scale benefits. 
• Profit Before Tax (PBT): ₹157.8 crore, up 63.4% from ₹96.6 crore, led by higher revenue realization. 
• Profit After Tax (PAT): ₹116.6 crore, up 67% from ₹69.8 crore, underscoring the Company’s focus on profitability and sustainable growth.

Even as growth remains strong vis-à-vis the corresponding quarter last year, it is beginning to moderate to more reasonable levels as seen in the quarter-on-quarter numbers sequentially. Q2 growth over Q1 in revenue was at 5.2%, even as net profit grew just 4.8% in Q2 over Q1  

Key Financial Support

KPI Green Energy Limited builds on its revenue support of ₹3,200 crore that is received in the form of sanction from the State Bank of India (PF&SBU) for financing its Solar and Hybrid IPP projects aggregating over 1 GWp in Gujarat. The firm also became the first firm to raise funding from extenally credit enhanced green bonds worth Rs 670 crore. 

The SBI sanction supports the 250 MW (AC)/350 MWp (DC) Solar Project and the 370 MW Hybrid Project (557 MWp Solar + 124.2 MW Wind), each backed by 25-year PPAs with GUVNL. The facility underscores SBI’s confidence in KPI’s execution capabilities and financial strength.