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Revenue
₹714 Cr
verified against source
Revenue YoY
78%
reported change
EBITDA
₹249 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
KP Green Engineering delivered a stellar FY26 with revenue surging 78% YoY to ₹1,250 crore, EBITDA more than doubling to ₹249 crore (margin expanding 400bps to 20%), and PAT rising 85% to ₹136 crore. The outperformance was driven by strong execution across diversified verticals—transmission, telecom (BSNL order), solar structures, and heavy engineering—along with the commissioning of Asia's largest galvanizing plant. The order book stands at a robust ₹1,831 crore, providing clear near-term visibility. Management guided for 40-50% revenue growth in FY27, with EBITDA margins maintained in the 16-20% range. Key risks include geopolitical fuel cost volatility and potential execution delays from customer-side pushbacks.
Colored figures show movement against the previous available record.
Guidance to track
- Management targets a minimum 40-50% year-on-year revenue growth for FY27, with potential to exceed based on capacity utilization.
- Management expects to sustain EBITDA margins in the 16-20% range, supported by product diversification and hedging strategies.
- With the current order book, capacity utilization is expected to improve to 45-60% in FY27 from ~30% in FY26.
- Next phase of capex, including a rolling mill for backward integration, will be operational in FY27 to improve margins and raw material availability.
Risks flagged
- Rising fuel costs due to geopolitical tensions could pressure margins, though management is hedging via green hydrogen blending and inventory buildup.
- Inventory days doubled to ~195 days due to strategic stockpiling, increasing working capital requirements and debt levels.
- Customers may ask to hold orders due to their own uncertainties, potentially impacting revenue recognition and cash flows.
- The 2% royalty on revenue to the promoter for brand usage may be viewed as a governance concern, especially as revenue scales.
Key quotes
- At KPGL, a product vertical is not just a product. It is an independent industry with its own ecosystem, approval, execution cycle, and market opportunity.
- We don't want to compromise on our margins. We are comfortable at present we have the entire order book and we can push the other orders also, not an issue.
- The foundation is strong, the exhibition is visible, and the future opportunities are enormous. We remain fully committed toward creating sustainable growth and long-term shareholder value.
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