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Kalpataru Projects International Results: Latest Quarterly Results & Analysis

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Kalpataru Projects International Ltd. 11 Aug 2026 16:08 PM

Q1FY27 Quarterly Result Announced for Kalpataru Projects International Ltd.

Construction & Engineering company Kalpataru Projects International announced Q1FY27 results

Consolidated Financial Highlights:

  • The company reported Revenue from Operations of Rs 6,407.97 crore in Q1FY27, representing a YoY increase of 3.84% from Rs 6,171.17 crore in Q1FY26 and a QoQ decrease of 17.61% from Rs 7,777.90 crore in Q4FY26.
  • Other Income for Q1FY27 stood at Rs 77.20 crore, compared to Rs 16.35 crore in Q1FY26 (up 372.17% YoY) and Rs 36.79 crore in Q4FY26 (up 109.84% QoQ).
  • Total Income for the quarter was Rs 6,485.17 crore, showing a YoY growth of 4.81% from Rs 6,187.52 crore and a QoQ decline of 17.01% from Rs 7,814.69 crore.
  • Profit Before Tax (PBT) in Q1FY27 reached Rs 420.47 crore, reflecting an increase of 44.88% YoY from Rs 290.22 crore in Q1FY26 and a decrease of 17.77% QoQ from Rs 511.35 crore in Q4FY26.
  • Net Profit for the period (Profit for the period) was Rs 311.53 crore in Q1FY27, marking a YoY growth of 45.85% from Rs 213.59 crore and a QoQ decrease of 27.65% from Rs 430.60 crore.
  • The company reported Total Comprehensive Income for Q1FY27 of Rs 251.29 crore, as against Rs 329.48 crore in Q1FY26 and Rs 514.77 crore in Q4FY26.
  • Basic and Diluted Earnings Per Share (EPS) for Q1FY27 stood at Rs 18.16, compared to Rs 12.51 in Q1FY26 and Rs 25.42 in Q4FY26.

Standalone Financial Highlights:

  • Revenue from Operations for Q1FY27 was Rs 5,481.86 crore, a YoY growth of 8.77% from Rs 5,039.74 crore and a QoQ decrease of 21.28% from Rs 6,963.98 crore.
  • Total Income for the standalone entity was Rs 5,534.27 crore in Q1FY27, representing a YoY increase of 9.31% from Rs 5,063.12 crore and a QoQ decrease of 22.32% from Rs 7,124.32 crore.
  • Profit Before Tax (PBT) for Q1FY27 stood at Rs 360.95 crore, up 31.66% YoY from Rs 274.15 crore and up 15.53% QoQ from Rs 312.42 crore (before exceptional items in Q4FY26).
  • Net Profit for Q1FY27 was Rs 265.36 crore, showing a YoY growth of 32.18% from Rs 200.76 crore and a QoQ growth of 20.71% from Rs 219.84 crore.
  • Standalone Basic and Diluted EPS for Q1FY27 was Rs 15.54, compared to Rs 11.76 in Q1FY26 and Rs 12.88 in Q4FY26.

Business Highlights:

  • Segment-wise Revenue Performance:
    • EPC: Rs 6,345.64 crore (compared to Rs 6,044.90 crore in Q1FY26).
    • Development Projects: Rs 11.36 crore (compared to Rs 73.85 crore in Q1FY26).
    • Others: Rs 71.25 crore (compared to Rs 66.43 crore in Q1FY26).
  • Asset Sale: During the year ended FY26, the Group completed the sale of assets of the Peenya plant for total proceeds of Rs 61 crore, resulting in a gain on disposal of Rs 34.01 crore recognized under Other Income.
  • Subsidiary Disposal: In Q4FY26, the company recognized a gain of Rs 156.56 crore (Consolidated) / Rs 188.36 crore (Standalone) on the disposal of its 100% equity interest in Vindhyachal Expressway Private Limited.
  • Arbitration Matter: Kurukshetra Expressway Private Limited (KEPL), a joint venture, is involved in arbitration with NHAI. Following a High Court order on July 28, 2026, which partially set aside an arbitral award, management has assessed that no provision is currently necessary.
  • Dividend: The Board of Directors recommended a final dividend of 40% (Rs 4.00 per equity share) for the financial year FY26.
  • Labour Code Provision: An incremental provision of Rs 29.48 crore was recognized in Q3FY26 (for the quarter ended December 2025) in respect of employee benefit obligations arising from the new Labour Codes.

Manish Mohnot, MD & CEO, KPIL, said: "Q1FY27 marks a strong beginning to the financial year for KPIL, driven by disciplined execution, expanding profitability, and robust order momentum across our key businesses. This performance underscores the resilience of our business model and validates the strategic capabilities we have built over the recent years. During the quarter, we advanced our competitive edge through integrated offerings and niche capabilities, securing marquee projects across HVDC T&D, GIS substation, international water business, and multiple design-build B&F projects, paving the way for future growth and strategic expansion.

Furthermore, I am delighted to announce that our credit rating has been upgraded to AA , positioning us among an elite group of large-scale EPC players with such financial standing. Looking forward, with a fortified balance sheet, a robust order backlog, and solid momentum across key business verticals, I am confident that our scalable and diversified business model and leadership depth will help us to drive sustainable growth and maximize long-term shareholder value.”

Result PDF

Construction & Engineering company Kalpataru Projects International announced Q3FY26 results

  • Revenue grew 16% YoY to Rs 6,665 crore on back of robust execution and healthy order backlog.
  • PBT (Before Exceptional items) grew 37% YoY to Rs 277 crore; PBT margin up 70 bps to 4.2%.
  • PAT at Rs 149 crore in Q3FY26 compared to Rs 140 crore in Q3 FY25, reflecting growth of 7% YoY.

Manish Mohnot, MD & CEO, KPIL said: “The growth momentum witnessed in the first half of FY26 continued into the Q3FY26, as we reported broad-based performance for KPIL, led by healthy revenue growth, sustained margin improvement, robust order book, and improved financial discipline. Most of our businesses delivered double-digit growth in Q3, with T&D and B&F continuing on a strong growth trajectory. We are further encouraged with the accelerating ordering momentum and business visibility in the T&D and civil business, reflected from our order backlog of Rs 63,287 crore and order inflows of Rs.19,456 crore received till date in FY26.

I am pleased to highlight that our focus on financial discipline is reflected in the reduction of consolidated net debt by 29% QoQ and 17% YoY to Rs 2,240 crore. We have further bolstered our financial position through the successful divestment of the Vindhyachal road asset in January 2026, which will generate cash inflows exceeding over Rs 600 crore post repayment of external bank debt.

Our strong order book, diversified business mix, global capabilities and strong balance sheet gives us confidence to sustain growth momentum with improved margins going forward.”

Result PDF

Construction & Engineering company Kalpataru Projects International announced Q2FY26 results

Q2FY26 Consolidated Financial Highlights:

  • Revenue grew by 32% YoY to Rs 6,529 crore led by robust execution and healthy order backlog.
  • EBITDA up 28% YoY to Rs 561 crore; EBITDA Margin at 8.6%.
  • PBT grew by 71% YoY to Rs 322 crore; PBT margin improves by 110 bps to 4.9%.
  • PAT at Rs 237 crore in Q2FY26 compared to Rs 126 crore in Q2FY25, reflecting a growth of 89% YoY.

Q2FY26 Standalone Financial Highlights:

  • Reported revenue of Rs 5,419 crore, marking an impressive 31% YoY growth.
  • EBITDA up by 28% YoY to Rs 447 crore; EBITDA Margin at 8.3%.
  • PBT grew by 48% YoY to Rs 272 crore with PBT Margin at 5.0%.
  • PAT up by 51% YoY to Rs 200 crore.

Manish Mohnot, MD & CEO, KPIL, said: “We have delivered another quarter of strong performance, building on the momentum of the previous quarter. This quarter happens to be the best ever Q2 in terms of revenue and profitability, as our consolidated revenue grew by 32% YoY, PBT grew by 71% YoY with margin expansion of 110 bps to 4.9% and PAT grew by 89% YoY. Additionally, our order book stands strong at Rs 64,682 crore, as we have secured orders nearly worth Rs 14,951 crore and further are favourably placed in projects worth Rs 5,000 crore, mainly in the T&D business. The robust performance reflects the strength of our underlying business model, which focuses on profitable growth, diversified business mix, efficient working capital management and relentless focus towards building future-proof capabilities.

Looking ahead, we remain committed to improve our project delivery capabilities, further strengthen our balance sheet and continue investing to scale high-growth business verticals. We believe these objectives, coupled with strong business visibility in power T&D and civil construction, well positions us to deliver on our growth targets going forward.”

Result PDF

Construction & Engineering company Kalpataru Projects International announced Q1FY26 results

  • Revenue for Q1FY26 grew by 35% YoY to Rs 6,171 crore.
  • EBITDA increased by 39% YoY to Rs 525 crore; EBITDA Margin at 8.5%.
  • PBT grew by 112% YoY to Rs 290 crore; PBT Margin expansion by 170 bps to 4.7%.
  • PAT grew by 154% YoY to Rs 214 crore with PAT Margin at 3.5% compared to 1.8% in Q1FY25.
  • Net Debt down by 26% YoY to Rs 2,765 crore; Net Working Capital days declined by 12 days YoY to 91 days as of 30th June 2025.

Manish Mohnot, MD & CEO, KPIL said: “The strong all-round operational and financial performance in Q1 has set a strong growth momentum for KPIL as we begin the new financial year. We have delivered highest-ever first-quarter revenue and profitability on back of well-planned diversification, healthy business mix and disciplined execution. In Q1FY26, KPIL achieved YoY growth of 35% in revenue, 39% in EBITDA, 112% in PBT, and 154% in PAT, with improvement in margins and efficient working capital management. Our order book stands at record level of Rs 65,475 crore and business visibility remains robust in majority of our businesses as we have secured orders worth Rs 9,899 crore till date in FY26.

Building on our capabilities and diversified business profile, we remain firmly aligned and on track to deliver targeted revenue growth and profitability for FY26 and going forward.”

Result PDF

Construction & Engineering company Kalpataru Projects International announced Q4FY25 & FY25 results

Consolidated Q4FY25 Financial Highlights:

  • Revenue increased by 18% YoY to Rs 7,067 crore
  • EBITDA increased by 19% YoY to Rs 538 crore
  • PBT grew by 40% YoY to Rs 296 crore
  • PAT grew by 29% YoY to Rs 218 crore

Consolidated Q4FY25 Financial Highlights:

  • Revenue for FY25 stands at Rs 22,316 crore, increase of 14% YoY
  • EBITDA at Rs 1,834 crore, up by 13% YoY; EBITDA Margin at 8.2%
  • PBT grew by 17% YoY to Rs 823 crore
  • PAT stands at Rs 567 crore in FY25
  • Net Debt stands at Rs 1,953 crore as on 31st March 2025

Standalone Q4FY25 Financial Highlights:

  • Revenue for Q4FY25 stands at Rs 6,204 crore, growth of 21% YoY
  • EBITDA grew by 31% YoY to Rs 523 crore; EBITDA Margin up by 70 bps to 8.4%
  • PBT before exceptional items grew by 49% YoY to Rs 364 crore
  • PBT after exceptional items up by 58% YoY to Rs 331 crore; PBT Margin up by 120 bps to 5.3%
  • PAT grew by 61% YoY to Rs 242 crore in Q4 FY25

Standalone FY25 Financial Highlights:

  • Revenue for FY25 stands at Rs 18,888 crore, up 13% YoY
  • EBITDA grew by 16% YoY to Rs 1,587 crore; EBITDA Margin up by 30 bps to 8.4%
  • PBT before exceptional items grew by 20% YoY to Rs 929 crore
  • PBT after exceptional items up by 21% YoY to Rs 896 crore; PBT Margin up by 30 bps to 4.7%
  • PAT increased by 22% YoY to Rs 648 crore
  • Net debt at Rs 1,107 crore as on 31st March 2025

Commenting on the results, Manish Mohnot, MD & CEO, KPIL said: “We have closed the FY25 on a momentous note with consolidated revenues crossing the Rs 22,000 crore mark, record profitability, all-time high order book and efficient working capital. As set out at the start of the year, we have delivered on our: (1) profitability improvement goals along with double-digit revenue growth, (2) improved working capital ratios with net working capital at 94 days, and (3) strengthen returns ratio with over 100 bps improvement in ROCE.

Our closing order book stands at historic high of Rs 64,495 crore on back of strong order inflows of Rs 25,475 crore, more importantly majority of these orders are at better margins and contributed by our flagship T&D and B&F business. We continue to relentlessly focus on securing complex large size EPC projects, expanding global reach, invest in capex to improve competiveness, strengthen team and improve delivery capabilities.

The new fiscal FY26 provides us with strong business visibility in the domestic and international markets backed by global focus on energy transition and creation of sustainable infrastructure. Further, we expect to improve the revenue growth trajectory on back of strong order backlog and proven execution capabilities. Having said that, we will also continue to maintain steadfast focus on improving our return ratios and pursue margin enhancement while maintaining the robustness of our balance sheet“.

Result PDF

Construction & Engineering company Kalpataru Projects International announced Q3FY25 results

  • Revenue increased by 17% YoY to Rs 5,732 crore, backed by strong execution and robust order backlog.
  • EBITDA grew by 13% YoY to Rs 479 crore; EBITDA Margin at 8.4%.
  • PBT grew by 5% YoY to Rs 202 crore with margin at 3.5%.
  • PAT stands at Rs 140 crore in Q3FY25 compared to Rs 144 crore in Q3FY24.

Manish Mohnot, MD & CEO, KPIL said: “We have delivered noteworthy performance in Q3FY25, with consolidated revenue growth of 17%, an EBITDA margin of 8.4%, and YTD order inflows, including L1, exceeding Rs 22,600 crore. Our business profile remains well-diversified, with a record-high order book of Rs 61,429 crore, providing strong visibility for the coming quarters. We continue to focus on enhancing our capabilities, achieving operational excellence, and strengthening our competitive position, as reflected in our consistent and strong financial performance.

The recently announced Union Budget places strong emphasis on investments in power transmission, clean energy, water supply, urban mobility, new regional airports, and other key EPC segments. In this backdrop, we are well placed to seize upcoming opportunities and further strengthen our market position given our demonstrated capabilities in diverse EPC segments, strong balance sheet, and extensive global experience.

Looking ahead, we remain committed to deliver consistent and profitable growth while maintaining a strong balance sheet thereby delivering long-term value for our stake holders.”

Result PDF

Construction & Engineering company Kalpataru Projects International announced Q2FY25 results

Standalone Financial Highlights:

  • Revenue for Q2FY25 stands at Rs 4,136 crore, up 8% YoY.
  • EBITDA up by 13% YoY to Rs 348 crore; EBITDA Margin at 8.4% for Q2FY25.
  • PBT grew by 15% to Rs 184 crore, PBT margin at 4.4% for Q2FY25.
  • PAT of Rs 132 crore in Q2FY25, up by 17% YoY.

Consolidated Financial Highlights:

  • Revenue growth of 9% YoY to Rs 4,930 crore in Q2FY25 led by robust execution and healthy order backlog.
  • EBITDA grew by 18% YoY to Rs 438 crore; EBITDA Margin at 8.9% in Q2FY25.
  • PBT grew by 42% YoY to Rs 188 crore in Q2FY25 with margin at 3.8%.
  • PAT up by 40% YoY to Rs 126 crore in Q2FY25.

Manish Mohnot, MD & CEO, KPIL said: “We have delivered solid performance this quarter, backed by consolidated revenue growth of 9% to Rs 4,930 crore, PBT growth of 42% YoY Rs 188 crore and PAT growth of 40% YoY to Rs 126 crore. More importantly, the growth has come along with strong order book position Rs 60,631 crore and YTD order inflows approx. Rs 19,000 crore (including L1 of over Rs 7,000 crore). Our diversified business mix, consistent performance, established capabilities and strong balance sheet showcases the underlying strength of our business model.”

Result PDF

Construction & Engineering company Kalpataru Projects International announced Q1FY25 results:

Consolidated:

  • Revenue increased by 8.2% YoY to Rs 4,587 crore driven by T&D and B&F business
  • EBITDA at Rs 378 crore with margin of 8.2%; EBITDA margin declined due to variation in project mix and investment in resource augmentation to support execution going forward
  • PBT at Rs 137 crore with a margin of 3.0%
  • PAT at Rs 84 crore for Q1 FY25
  • Net Consolidated Debt at Rs 3,739 crore as on 30th June 2024

Standalone:

  • Revenue up by 3% YoY at Rs 3,722 crore; Revenue growth moderated mainly due to water business given lower collections on account of delay in budgetary allocations
  • EBITDA at Rs 314 crore with margin of 8.4%
  • PBT at Rs 164 crore with margin of 4.4%
  • PAT at Rs 117 crore with a margin of 3.1%

Commenting on the results,  Manish Mohnot, MD & CEO, KPIL said: “We have delivered resilient performance in Q1FY25 despite lower manpower availability and delay in collections given typical seasonality and general elections. However, getting in Q2 FY25, we have started to see moderation in working capital intensity with improving budgetary allocations. We are confident of achieving our targeted net working capital of below 100 days by end of FY25.

Further, we are pleased with the ordering momentum, which is reflected from the fact that in first four months of the FY25 itself, our order inflows including L1 has reached over Rs 12,000 crore. More importantly, most of the new orders secured are in the T&D and B&F business, which are at better margin and in-line with our focus to improve profitability going forward.

With our strong order backlog, execution prowess and financial prudence, we are well-positioned to deliver the targeted annual revenue growth of 20% for FY25.”

Result PDF

Construction & Engineering company Kalpataru Projects International announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

Standalone:

  • Revenue for Q4FY24 stands at Rs 5,147 crore, up 17% YoY
  • EBITDA up by 29% YoY to Rs 400 crore
  • PBT Before Exceptional Items grew by 48% to Rs 245 crore
  • PAT of Rs 150 crore in Q4FY24

Consolidated:

  • Revenue grew by 22% YoY to Rs 5,971 crore driven by healthy project execution
  • EBITDA grew by 36% YoY to Rs 452 crore
  • PBT grew by 103% YoY to Rs 211 crore in Q4 FY24
  • PAT up by 21% YoY to Rs 169 crore in Q4 FY24

FY24 Financial Highlights:

Standalone:

  • Revenue for FY24 stands at Rs 16,760 crore, up 17% YoY
  • EBITDA at Rs 1,366 crore higher by 18% YoY; EBITDA Margin at 8.2% for FY24
  • PBT Before Exceptional Items at Rs 774 crore in FY24, up 13% YoY
  • PAT at Rs 533 crore
  • Net debt stands at Rs 1,833 crore as on 31st March 2024

Consolidated:

  • Revenue for FY24 stands at Rs 19,626 crore, up 20% YoY
  • EBITDA at Rs 1,628 crore higher by 19% YoY; EBITDA Margin at 8.3% for FY24
  • PBT at Rs 701 crore in FY24, up by 27% YoY
  • PAT grew by 19% YoY to Rs 516 crore in FY24
  • Net Debt stand at Rs 2,591 crore as on 31st March 2024

Commenting on the results, Manish Mohnot, MD & CEO, KPIL said: “FY24 has been momentous year for KPIL. We have delivered robust performance, marking highest ever consolidated revenue, EBITDA and order book in our history, reaching Rs 19,626 crore, Rs 1,628 crore and Rs 58,415 crore, respectively. This achievement, coupled with our commitment to pursue profitable growth and efficiently manage our working capital, ensured we deliver stable margins, maintain prudent debt level and improve working capital cycle, underscoring our efficiency and agility.

Simultaneously, we have made strategic inroads in numerous large size orders for oil & gas, underground metro tunnelling, airport, data center, design-build B&F projects and T&D projects in both domestic and international markets. This is a testament to our consistent focus on strengthening execution capabilities, build diversified and resilient business mix and improve our market position in high growth EPC businesses.

As we move forward, we will continue to strengthen our position in the T&D and civil construction sector given the huge impetus on renewable energy and infrastructure development in India and globally. Our strong order book and diversified business mix gives us confidence to sustain growth momentum in FY25 and beyond.”

Result PDF

Electric Utilities company Kalpataru Projects International announced Q3FY24 & 9MFY24 results:

Consolidated Financial Performance:
- Q3FY24 revenue increased by 22.3% YoY to Rs 4,896 crore.
- EBITDA for Q3FY24 grew by 13.4% YoY to Rs 424 crore, with an EBITDA margin of 8.7%.
- Profit Before Tax (PBT) for Q3FY24 saw a growth of 21.4% YoY, standing at Rs 193 crore, with a PBT margin of 3.9%.
- Profit After Tax (PAT) in Q3FY24 rose by 32.1% YoY to Rs 144 crore, with a PAT margin of 2.9%.
- The 9MFY24 performance showed a revenue rise of 19.0% YoY to Rs 13,655 crore, an EBITDA increase of 13.3% to Rs 1,176 crore, and a PAT growth of 17.6% YoY to Rs 347 crore.

Standalone Financial Performance:
- Q3FY24 revenue stood at Rs 4,147 crore, an 18.2% increase YoY.
- Standalone EBITDA for Q3FY24 increased by 12.8% to Rs 344 crore, with an 8.3% margin.
- Standalone PBT in Q3FY24 grew by 17.6% to Rs 194 crore, while PAT rose by 29.7% to Rs 144 crore.
- For 9MFY24, revenue stood at Rs 11,613 crore (up 16.8% YoY), with EBITDA at Rs 966 crore and PAT at Rs 383 crore.

Order Intake & Order Book:
- 9MFY24 order inflows stood at Rs 18,065 crore, with new orders of Rs 380 crore received in Q4FY24 to date.
- Order book at Rs 51,753 crore as of December 31, 2023, an increase of 25% YoY; Additional L1 position of around Rs 6,000 crore

Manish Mohnot, MD & CEO of KPIL, commented on the financial results stating: "KPIL has delivered another quarter of strong performance driven by robust project execution and record order book.

The last few quarters are one of our best quarters in terms of business development. With order wins and L1 of nearly Rs 24,000 crore, we closed last quarter with an all-time high order book of Rs 51,753 crore. We have made notable strides by securing large-size EPC projects in the T&D, B&F, and Urban Infra business. These project places us favourably to take advantage of the huge infra development push happening in India and overseas markets.

Our robust order book, established capabilities, and healthy tender pipeline give us the confidence to deliver profitable growth in the coming quarters and achieve our vision for 2025."

 

 

Result PDF

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