Q3 FY26: KPI Green Revenue Rises 64% to ₹1,931 Cr on Strong Solar, Hybrid Demand

Gujarat-based KPI Green Energy earned total revenue of ₹1,931 crore in Q3 Fy 26, registering a 64% growth compared to ₹1,177 crore in the corresponding period of the previous year in Q3 FY 2024–25.

In a press release, KPI Green said the latest growth was driven by strong execution momentum and sustained demand across solar and hybrid projects. Its EBITDA increased to ₹701 crore, up 71% from ₹411 crore.

KPI Green also saw a rise in Profit Before Tax (PBT), which increased to ₹477 crore, reflecting a 58% year-on-year rise from ₹302 crore. Similarly, gains were also reflected in its Profit After Tax (PAT), which grew to ₹354 crore, up 60% from ₹221 crore, aided by margin expansion.

Q3 FY 2025–26 vs Q3 FY 2024–25

KPI Green’s total revenue for Q3 FY 2025–26 touched ₹676 crore, registering a 45% growth compared to ₹466 crore last year in the same quarter (Q3 FY 2024–25). Similar growth was also observed in EBITDA, which increased to ₹251 crore, reflecting a 73% year-on-year growth from ₹145 crore.

Meanwhile, KPI Green’s Profit Before Tax (PBT) rose to ₹170 crore, marking a 48% increase over ₹115 crore in the corresponding quarter last year. Its Profit After Tax (PAT) stood at ₹126 crore, up 48% from ₹85 crore.

Quarter-Over-Quarter Growth 

KPI Green’s total revenue in the December quarter rose to Rs. 6,760,541 Lac, up 5.45% quarter-over-quarter from Rs. 6,411,442 Lac in September 2025. The company also noted a 45.03% year-over-year increase from Rs. 4,660,961 Lac in December 2024.

FY 2025–26: KPI Green RE Pipeline ExceedS 6 GW in Nine Months

During the last quarter, KPI Green secured a ₹3,200 crore sanction from the State Bank of India (PF&SBU), one of the highest sanctions received by the KP Group. The sanction will finance KPI Green Energy’s solar and hybrid Independent Power Producer (IPP) projects aggregating over 1 GWp in Gujarat.

The sanction supports a 250 MW (AC)/350 MWp (DC) solar project and a 370 MW hybrid project (557 MWp solar + 124.2 MW wind), each backed by 25-year power purchase agreements (PPAs) with GUVNL. Notably, KPI aims for achieving a 10 GW portfolio by 2030.

The company's renewable pipeline exceeds 6 GW. The licence allows the company to supply verifiable green energy blocks supporting customers’ Renewable Purchase Obligation (RPO) commitments, the company said.