Low PE Renewable Energy Reports Q1FY27: Revenue Rises 16% YoY, PAT Declines 15%; CFO Resigns

On Tuesday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index falling 140.35 points, or 0.57 per cent, to 24,443.45, while the Nifty Energy index declined 150.25 points, or 0.39 per cent, to 38,597.90. Amid the broader market weakness, KPI Green Energy share price fell 6.08 per cent to Rs 346.80 after the company reported its financial results for the quarter ended June 30, 2026, along with changes in its senior management.

KPI Green Q1 FY27 Financial Performance

KPI Green Energy reported consolidated revenue from operations of Rs 693.84 crore in Q1 FY27 compared with Rs 602.94 crore in Q1 FY26, registering a 15.08 per cent YoY increase. Total revenue, including other income, stood at Rs 709.82 crore compared with Rs 614.12 crore in the corresponding quarter, marking a 15.57 per cent YoY growth.

Consolidated EBITDA stood at approximately Rs 262 crore in Q1 FY27 compared with Rs 217 crore in Q1 FY26, registering a growth of around 21 per cent. Profit before Tax declined to Rs 130.87 crore from Rs 149.20 crore, a decline of 12.28 per cent YoY. Profit after tax stood at Rs 94.63 crore compared with Rs 111.32 crore in Q1 FY26, representing a decline of 14.98 per cent YoY.

The company attributed the decline in PBT and PAT to geopolitical headwinds, volatility in Solar module and input-material prices and elevated depreciation and financing costs.

Solar, Wind and Hybrid Renewable Energy Operations

KPI Green Energy said its Q1 FY27 performance was supported by its solar, wind and hybrid renewable energy businesses, along with its expanding independent power producer asset base and EPC execution capabilities. The company also highlighted its project pipeline, fresh order wins, project commissioning and expansion into utility-scale Battery Energy Storage Systems.

During the quarter, Sun Drops Energia Limited, a subsidiary of KPI Green Energy, executed a Battery Energy Storage Purchase Agreement with Gujarat Urja Vikas Nigam Limited for a 120 MW/240 MWh standalone BESS project. Following an earlier 445 MW/890 MWh BESPA, the group's cumulative executed standalone BESS portfolio increased to 565 MW/1,130 MWh.

KPI Green Debt and Financial Ratios

As of June 30, 2026, the company's consolidated debt-equity ratio stood at 1.84 compared with 1.49 as of March 31, 2026. The debt service coverage ratio stood at 2.45, while the interest service coverage ratio was 3.28. The current ratio stood at 1.45 and total debts to total assets ratio was 0.51.

The company also has rated, listed, senior, secured, redeemable and transferable NCDs aggregating Rs 670 crore. The NCDs are secured against specified fixed assets, receivables and cash inflows, among other securities. The company is required to maintain a minimum security cover of 1.20 times and was in compliance with the covenant as of June 30, 2026.
Also Read - This Low PE, High ROCE Company Bags Rs 7,40,06,30,000 Orders from Maharashtra Government; FII Stake Increases

CFO Resigns; New Group CFO Appointed

KPI Green Energy's Board took on record the resignation tendered by Salim Yahoo from the position of Chief Financial Officer and Key Managerial Personnel. The resignation was submitted on August 11, 2026, and the effective date of cessation will be intimated separately.

In his resignation letter, Salim Yahoo stated that he was stepping down due to personal family emergencies requiring his immediate and sustained attention. He also stated that he would comply with applicable notice-period and handover requirements to facilitate a smooth transition.

Following the recommendation of the Nomination and Remuneration Committee and Audit Committee, the Board approved the appointment of Kapil Kriplani as Chief Financial Officer and Key Managerial Personnel of the company, designated as Group Chief Financial Officer of KP Group, with effect from August 11, 2026.

About KPI Green Energy

KPI Green Energy is the holding company of the KP Group's renewable energy business. The company's consolidated operations include KPI Green Energy and multiple subsidiaries and special-purpose vehicles involved in its renewable energy activities.

The company operates across solar power and solar power plant-related activities, while its Q1 FY27 developments also include wind, hybrid renewable energy and utility-scale Battery Energy Storage Systems. Its consolidated segment revenue from power and solar power plant activities stood at Rs 692.98 crore in Q1 FY27, compared with Rs 602.63 crore in Q1 FY26.

Share your thoughts on this development in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.