Order Book
₹1,831 Cr
+144% YoY
Order book as of March 31, 2026, providing strong revenue visibility for FY27.
KPGREENENGINEERING
Other
15 May 2026
KP Green Engineering Ltd — Q4 FY26
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.
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2-Minute Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Manufacturing Capacity
4,50,000 MTPA
+350% YoY
Total installed capacity expanded significantly post-IPO capex, with current utilization at ~30%.
Capacity Utilization
1,24,500 MT
~28% utilization
Actual production in FY26 was 1,24,500 metric tons out of 4,50,000 MTPA capacity.
Bidding Pipeline
₹3,000+ Cr
N/A
Total value of tenders under bidding, with historical win ratio of 60-70%.
Management Guidance
Revenue growth of 40-50% in FY27
Management targets a minimum 40-50% year-on-year revenue growth for FY27, with potential to exceed based on capacity utilization.
Management guidance revenueEBITDA margin maintained at 16-20%
Management expects to sustain EBITDA margins in the 16-20% range, supported by product diversification and hedging strategies.
Management guidance marginsCapacity utilization to reach 45-60% in FY27
With the current order book, capacity utilization is expected to improve to 45-60% in FY27 from ~30% in FY26.
Management guidance growthBackward integration capex in FY27
Next phase of capex, including a rolling mill for backward integration, will be operational in FY27 to improve margins and raw material availability.
Management guidance capexKey Risks
Geopolitical fuel cost volatility
Rising fuel costs due to geopolitical tensions could pressure margins, though management is hedging via green hydrogen blending and inventory buildup.
medium · management_commentaryHigh inventory days and working capital
Inventory days doubled to ~195 days due to strategic stockpiling, increasing working capital requirements and debt levels.
medium · analyst_questionCustomer execution delays
Customers may ask to hold orders due to their own uncertainties, potentially impacting revenue recognition and cash flows.
medium · management_commentaryRoyalty expense to promoter
The 2% royalty on revenue to the promoter for brand usage may be viewed as a governance concern, especially as revenue scales.
low · analyst_questionNotable 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.
Frequently Asked Questions
What was KP Green Engineering's revenue in Q4 FY26?
KP Green Engineering reported revenue of ₹714 Cr in Q4 FY26, representing a +78% change compared to the same quarter last year.
What guidance did KP Green Engineering management give for FY27?
Revenue growth of 40-50% in FY27: Management targets a minimum 40-50% year-on-year revenue growth for FY27, with potential to exceed based on capacity utilization. EBITDA margin maintained at 16-20%: Management expects to sustain EBITDA margins in the 16-20% range, supported by product diversification and hedging strategies. Capacity utilization to reach 45-60% in FY27: With the current order book, capacity utilization is expected to improve to 45-60% in FY27 from ~30% in FY26. Backward integration capex in FY27: Next phase of capex, including a rolling mill for backward integration, will be operational in FY27 to improve margins and raw material availability.
What are the key risks for KP Green Engineering in FY27?
Key risks include Geopolitical fuel cost volatility — Rising fuel costs due to geopolitical tensions could pressure margins, though management is hedging via green hydrogen blending and inventory buildup.; High inventory days and working capital — Inventory days doubled to ~195 days due to strategic stockpiling, increasing working capital requirements and debt levels.; Customer execution delays — Customers may ask to hold orders due to their own uncertainties, potentially impacting revenue recognition and cash flows.; Royalty expense to promoter — The 2% royalty on revenue to the promoter for brand usage may be viewed as a governance concern, especially as revenue scales..
Did KP Green Engineering meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full KP Green Engineering Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.