Risk Intelligence
Working capital strain from inventory buildup
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K.P. Energy delivered a record Q4 FY26 with revenue of ₹631.81 Cr (up 83% QoQ) and PAT of ₹78.69 Cr (up 72% YoY), driven by strong execution in the EPC and infrastructure segment. Full-year revenue crossed ₹1,500 Cr for the first time, with EBITDA margin expanding 136 bps to 21.82%. The order book stands at ~2 GW (₹3,000 Cr), providing 12-18 months visibility. Management guided for 40-50% revenue growth in FY27, supported by a 230 MW order addition in Q4 and a 200 MW IPP pipeline. Key risk: working capital strain from inventory buildup and project mobilization could pressure cash flows if geopolitical disruptions persist.
Working capital strain from inventory buildup
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Read Transcript →Order book increased to ~2 GW with addition of 230 MW in Q4.
Managed under 24x7 NOC with AI-based alerts and SCADA dashboards.
200 MW additional IPP capacity under development, targeting 250 MW total.
Upgraded from BBB (Negative) by K Ratings during FY26.
Management expects revenue growth of 40-50% in FY27, supported by strong order book and execution momentum.
Inventory increased significantly to secure supply chain amid geopolitical uncertainties, impacting operating cash flow.
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