K.P. Energy financials and balance sheet

NSE: KPELBSE: 539686PowerSmall Cap

₹162.77₹9.30 (5.40%)BSE ₹162.90

Share price at the NSE close on 23 Oct 2026. Previous close ₹172.07.

52-week range of traded prices to 23 Oct 2026

₹161.14Low, 23 Oct 2026₹463.25High, 4 Nov 2025

Market cap: ₹1,104 Cr1,124th largest listed
P/E: 6.1
P/B: 2.1
Dividend yield: 0.43%
ROE: 43.5%
ROCE: 33.0%
Debt to equity: 0.74
Volume, NSE: 6,42,24546.4% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.K.P. Energy annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹1,497 Cr, year to Mar 2026

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 1.5% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue1,497
Materials and goods−1,033
Employee costs−50
Other expenses−94
Operating profit320
Depreciation−28
Other income+8.5
One-off items0.0
Finance costs−46
Profit before tax254
Tax−73
Joint ventures−0.5
Net profit181

What the company owns

Inventory₹1,333 Cr
Plant, investments and other assets₹1,113 Cr
Receivables₹168 Cr
Cash and bank₹76 Cr
Current investments₹0 Cr

What pays for it: net worth and liabilities

Other liabilities₹1,125 Cr
Owed to suppliers₹657 Cr
Net worth₹522 Cr
Borrowings₹386 Cr

K.P. Energy business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.K.P. Energy segment results by quarter

Revenue by segment

₹1,497 CrTotal

Infrastructure Development₹1,452 Cr97.0% of total
Sale of Power₹36 Cr2.4% of total
Operation & Maintenance Services₹10 Cr0.7% of total

Profit by segment

Infrastructure Development₹285 Cr95.1% of total
Sale of Power₹12 Cr4.0% of total
Operation & Maintenance Services₹3 Cr0.9% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Infrastructure Development
Revenue, ₹ crore
451
910
1,452
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
81
175
285
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Sale of Power
Revenue, ₹ crore
18
24
36
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
8
8
12
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Operation & Maintenance Services
Revenue, ₹ crore
4
5
10
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
1
1
3
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	158	75	72	250	438	473	939	1,497
Company revenue, as in its results	158	75	72	250	438	473	939	1,497
Revenue	–	–	–	–	–	451	910	1,452
Revenue growth	–	–	–	–	–	–	101.9%	59.5%
Profit	–	–	–	–	–	81	175	285
Profit growth	–	–	–	–	–	–	114.8%	63.5%
Margin	–	–	–	–	–	18.0%	19.2%	19.7%
Return on capital	–	–	–	–	–	59.2%	124.1%	79.3%
Assets	–	–	–	–	–	520	829	2,367
Liabilities	–	–	–	–	–	383	688	2,007
Capital employed	–	–	–	–	–	137	141	360
Revenue	–	–	–	–	–	18	24	36
Revenue growth	–	–	–	–	–	–	32.1%	49.2%
Profit	–	–	–	–	–	8	8	12
Profit growth	–	–	–	–	–	–	−3.6%	60.3%
Margin	–	–	–	–	–	43.1%	31.4%	33.7%
Return on capital	–	–	–	–	–	17.4%	4.6%	7.5%
Assets	–	–	–	–	–	98	332	318
Liabilities	–	–	–	–	–	53	168	158
Capital employed	–	–	–	–	–	45	164	160
Revenue	–	–	–	–	–	4	5	10
Profit	–	–	–	–	–	1	1	3
Margin	–	–	–	–	–	22.3%	27.2%	27.5%
Return on capital	–	–	–	–	–	39.8%	19.1%	98.8%
Assets	–	–	–	–	–	8	8	6
Liabilities	–	–	–	–	–	5	1	4
Capital employed	–	–	–	–	–	2	7	3
Revenue	148	63	62	–	424	–	–	–
Revenue growth	–	−57.0%	−2.0%	–	–	–	–	–
Profit	22	−1	8	–	62	–	–	–
Margin	14.7%	−0.9%	13.2%	–	14.7%	–	–	–
Return on capital	58.7%	−0.9%	12.6%	–	126.3%	–	–	–
Assets	126	198	224	–	252	–	–	–
Liabilities	89	139	159	–	202	–	–	–
Capital employed	37	59	65	–	49	–	–	–
Revenue	10	9	8	8	10	–	–	–
Revenue growth	–	−5.3%	−13.4%	−2.6%	25.5%	–	–	–
Profit	7	6	6	3	6	–	–	–
Profit growth	–	−19.4%	−5.2%	−45.9%	85.9%	–	–	–
Margin	75.5%	64.3%	70.3%	39.0%	57.8%	–	–	–
Return on capital	32.8%	25.1%	24.4%	13.4%	7.7%	–	–	–
Assets	53	49	46	44	89	–	–	–
Liabilities	30	25	23	21	15	–	–	–
Capital employed	23	24	23	23	74	–	–	–
Revenue	–	–	–	–	4	–	–	–
Profit	–	–	–	–	2	–	–	–
Margin	–	–	–	–	55.4%	–	–	–
Return on capital	–	–	–	–	55.4%	–	–	–
Assets	–	–	–	–	5	–	–	–
Liabilities	–	–	–	–	1	–	–	–
Capital employed	–	–	–	–	4	–	–	–
Revenue	1	2	1	5	–	–	–	–
Revenue growth	–	–	−34.2%	268.9%	–	–	–	–
Profit	0	2	1	4	–	–	–	–
Profit growth	–	–	−59.8%	427.4%	–	–	–	–
Margin	39.2%	86.7%	52.9%	75.7%	–	–	–	–
Return on capital	260.5%	136.2%	183.4%	180.8%	–	–	–	–
Assets	0	1	0	2	–	–	–	–
Liabilities	0	0	0	0	–	–	–	–
Capital employed	0	1	0	2	–	–	–	–
Revenue	–	–	–	237	–	–	–	–
Profit	–	–	–	26	–	–	–	–
Margin	–	–	–	10.9%	–	–	–	–
Return on capital	–	–	–	31.2%	–	–	–	–
Assets	–	–	–	296	–	–	–	–
Liabilities	–	–	–	213	–	–	–	–
Capital employed	–	–	–	83	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.K.P. Energy quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 30 May	Mar 2020Filed 4 Jul	Mar 2021Filed 28 Jun	Mar 2022Filed 15 Jun	Mar 2023Filed 8 Jun	Mar 2024Filed 25 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May
Revenue from operations	113	60	158	75	72	250	438	473	939	1,497
	84	50	125	64	54	216	367	387	762	1,177
Materials and goods bought	65	30	94	45	32	195	327	326	662	1,033
Employee costs	4	6	8	7	7	8	11	15	35	50
Other expenses	15	14	24	12	15	13	29	46	66	94
Operating profit before depreciation	29	10	33	11	18	34	71	86	176	320
Operating margin	25.8%	16.6%	20.8%	14.4%	24.9%	13.6%	16.2%	18.2%	18.8%	21.4%
Materials, % of revenue	57.4%	50.6%	59.4%	60.3%	44.4%	77.9%	74.8%	68.9%	70.5%	69.0%
Employee costs, % of revenue	3.3%	9.2%	4.9%	9.4%	9.7%	3.2%	2.5%	3.3%	3.7%	3.4%
Other expenses, % of revenue	13.5%	23.7%	15.0%	16.0%	21.0%	5.3%	6.5%	9.7%	7.0%	6.2%
Depreciation and amortisation	1	3	4	4	5	6	5	8	13	28
Operating profit after depreciation	28	7	29	7	13	28	66	77	164	292
Other income	0	0	0	1	1	3	5	13	20	8
Finance costs	2	3	5	5	5	4	5	13	29	46
Profit before one-off items and tax	–	4	25	3	9	27	65	77	155	254
One-off items	0	0	0	0	0	0	−1	0	0	0
Profit before tax	26	4	25	3	9	27	64	77	155	254
	9	2	5	2	3	9	20	18	39	73
Current tax	5	–	3	0	2	8	15	17	28	44
Deferred tax	4	–	3	2	2	2	5	1	10	29
Share of profit of joint ventures and associates	–	–	–	–	–	–	–	−1	−1	0
	17	2	19	1	6	18	44	58	115	181
Belonging to the company's shareholders	17	2	19	1	6	18	44	58	115	181
Belonging to outside owners of subsidiaries	–	–	0	0	0	0	0	–	0	0
Other comprehensive income	–	–	0	0	0	1	0	0	0	0
Total comprehensive income	–	–	19	1	6	20	44	58	115	181
Net margin	15.0%	3.1%	12.3%	1.5%	8.4%	7.3%	10.0%	12.3%	12.3%	12.1%
Net margin without joint ventures and associates	–	–	–	–	–	–	–	12.6%	12.4%	12.1%

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 30 May	Mar 2020Filed 4 Jul	Mar 2021Filed 28 Jun	Mar 2022Filed 15 Jun	Mar 2023Filed 8 Jun	Mar 2024Filed 25 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May
	60	84	89	108	127	184	312	522
	60	60	66	87	129	186	313	523
Share capital	11	11	11	11	11	33	33	34
Reserves	49	48	55	76	117	152	280	490
Belonging to outside owners of subsidiaries	0	25	23	21	−1	−1	−1	−1
	35	31	28	28	40	100	228	386
Repayable after a year	25	26	21	21	33	85	185	211
Repayable within a year	10	5	6	7	7	15	42	176
	79	68	50	146	134	309	528	1,777
Trade payables	55	44	35	102	94	176	327	657
Other financial liabilities	6	6	6	4	24	58	112	90
Other liabilities	2	12	1	30	4	14	12	703
Provisions	0	0	0	0	0	39	17	125
Tax owed	6	1	2	2	5	8	17	26
	40	96	132	88	84	132	328	392
Other financial liabilities	0	50	86	44	8	23	31	47
Other liabilities	4	7	9	8	23	20	81	74
Provisions	0	0	0	0	0	1	0	0
Deferred tax	11	13	16	14	19	3	31	59
Total assets	179	248	271	342	346	626	1,169	2,691
	94	131	149	163	181	198	434	563
Plant in use, after depreciation	83	81	132	135	144	174	420	542
Plant being built	10	50	11	11	1	1	0	0
Investments	0	0	1	2	21	20	10	10
Other financial assets	0	0	0	1	1	1	2	9
Other assets	0	0	5	14	14	2	2	2
	85	117	122	179	165	427	734	2,127
Inventories	34	80	80	127	86	120	228	1,333
Trade receivables	28	4	4	16	57	253	323	168
Cash and cash equivalents	1	1	1	3	1	1	2	6
Other bank balances	7	7	15	18	13	22	43	71
Current investments	0	0	0	3	2	2	0	0
Loans given	0	0	3	0	0	0	0	0
Other financial assets	1	1	1	1	1	3	8	81
Other assets	15	25	17	11	5	27	130	468
Net debt	28	24	11	4	25	75	182	310

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 28 Jun	Mar 2022Filed 15 Jun	Mar 2023Filed 8 Jun	Mar 2024Filed 25 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May
	−11	22	28	33	162	123
	−10	26	45	35	160	121
	−23	−8	−22	−51	−17	−181
Receivables	7	−12	−41	−195	−71	155
Inventories	0	−46	40	−34	−108	−1,105
Payables	−8	65	−8	117	151	234
Other working capital	−22	−14	−13	60	11	536
Tax paid	−1	−3	−20	−10	−19	−33
Interest paid	0	−3	3	9	23	39
Capital spending	18	9	5	32	258	218
Free cash flow	−29	13	23	2	−96	−95
	−18	−12	−21	−70	−241	−212
Plant and property sold	0	0	1	0	0	0
Interest received	1	1	0	1	2	4
Dividends received	0	0	0	0	0	0
	38	−6	−15	47	101	120
Borrowings raised	32	35	58	68	142	159
Borrowings repaid	0	−34	−46	−7	−15	0
Interest paid	0	−3	−3	−9	−23	−39
Lease payments	0	−1	0	−1	−6	−11
Dividends paid	0	0	1	1	4	5
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	22
Net change in cash	9	5	−8	10	22	31

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.K.P. Energy dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 30 May	Mar 2020Filed 4 Jul	Mar 2021Filed 28 Jun	Mar 2022Filed 15 Jun	Mar 2023Filed 8 Jun	Mar 2024Filed 25 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May
	–	–	–	–	–	–	–	₹8.75	₹17.29	₹27.07
As stated that year	₹19.76	₹2.20	₹17.49	₹0.99	₹5.45	–	₹19.73	₹8.75	₹17.29	₹27.07
	–	–	–	–	–	–	–	₹8.73	₹17.22	₹26.86
As stated that year	₹19.76	₹2.20	₹17.31	₹0.98	₹5.40	–	₹19.63	₹8.73	₹17.22	₹26.86
Dividend per share	–	–	–	–	–	–	–	–	₹0.30	₹0.90
	–	–	–	–	–	–	–	₹27.83	₹46.96	₹77.44
On that year's share count	–	–	₹53.81	₹53.59	₹59.04	₹78.49	₹57.83	₹27.83	₹46.96	₹77.44
Dividend payout	–	–	–	–	–	–	–	–	1.7%	3.4%
Shareholder yield	–	–	–	–	0.0%	0.0%	0.3%	0.0%	0.2%	−1.0%
Market cap at the year end (₹ crore)	109	175	223	94	63	281	337	2,411	2,472	1,672

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from. As stated that year and earnings per share are left blank for the year to Mar 2022: the earnings per share stated does not match any profit the filing states over the shares in issue, and the share count barely moved during the period.

Ratios

Consolidated, years to March.K.P. Energy PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 30 May	Mar 2020Filed 4 Jul	Mar 2021Filed 28 Jun	Mar 2022Filed 15 Jun	Mar 2023Filed 8 Jun	Mar 2024Filed 25 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May
Revenue growth	172.6%	−46.8%	163.6%	−52.7%	−4.3%	249.0%	74.9%	8.0%	98.5%	59.5%
Operating profit growth	–	−65.9%	230.9%	−67.3%	65.5%	90.4%	109.1%	20.9%	105.4%	81.4%
Net profit growth	224.8%	−88.9%	935.0%	−94.3%	450.8%	201.5%	140.4%	32.8%	97.7%	57.3%
Earnings per share growth	–	–	–	–	–	–	–	–	97.7%	56.6%
	–	–	32.5%	1.8%	9.7%	23.9%	40.7%	37.1%	46.2%	43.4%
	–	–	–	−30.7 pts	7.8 pts	14.2 pts	16.8 pts	−3.6 pts	9.2 pts	−2.9 pts
From the net margin	–	–	–	−28.6 pts	8.8 pts	−1.3 pts	9.0 pts	9.3 pts	−0.1 pts	−0.6 pts
From asset turnover	–	–	–	−2.3 pts	−2.3 pts	16.4 pts	18.3 pts	−11.8 pts	2.8 pts	−11.8 pts
From borrowing	–	–	–	0.3 pts	1.3 pts	−0.8 pts	−10.5 pts	−1.1 pts	6.5 pts	9.5 pts
Return on capital employed	–	–	30.5%	5.9%	11.3%	20.7%	39.3%	27.2%	30.3%	32.1%
Cash conversion	–	–	–	–	−176.4%	120.1%	64.4%	56.8%	140.2%	67.6%
Interest cover	14.0	2.1	6.3	1.5	2.5	6.6	12.2	6.1	5.7	6.4
Debt to equity	–	–	0.59	0.37	0.31	0.26	0.32	0.54	0.73	0.74
Receivable days	–	–	63	18	21	23	47	195	126	41
Inventory days	–	–	133	648	917	237	96	134	126	471
Payable days	–	–	215	353	405	191	105	197	180	232
Cash conversion cycle, days	–	–	−19	313	533	69	39	132	71	280
Working capital days	–	–	21	228	312	24	19	83	79	110
Asset turnover	–	–	0.88	0.35	0.28	0.82	1.27	0.97	1.05	0.78
Assets per rupee of net worth	–	–	3.00	3.58	4.14	4.01	3.19	3.09	3.60	4.61
Sales per rupee of plant	–	–	1.91	0.93	0.54	1.85	3.04	2.72	2.24	2.76
Capital spending to depreciation	–	–	–	–	3.89	1.60	1.01	3.73	20.37	7.68
Plant being built, % of plant in use	–	–	12.5%	61.4%	8.3%	7.9%	0.8%	0.7%	0.0%	0.0%

No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 9.4%
Cash from operations against operating profit: 38.3%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	43.1%	83.6%	50.7%
Profit growth, yearly rate	42.6%	97.3%	60.4%
Return on equity, average	–	38.3%	42.2%
Return on capital employed, average	–	29.9%	29.9%
Operating margin, average	19.0%	17.6%	19.4%
Net margin, average	9.4%	10.8%	12.2%
Asset turnover, average	–	0.98	0.93
Cash conversion cycle, days, average	–	118	161
Interest cover, average	6.3	7.4	6.1
Debt to equity, average	–	0.52	0.67

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	368	317	123
Cash from investing	−555	−523	−212
Cash from financing	247	268	120
Capital spending	521	507	218
Dividends paid	11	10	5
Shares bought back	0	0	0
Shares issued for cash	22	22	22
Borrowings raised	462	368	159
Borrowings repaid	103	23	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	6	7	7	6	7	4
Altman Z-scorePublished threshold 1.1	–	–	2.76	2.67	3.27	2.48	3.65	3.44	3.38	2.45
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.42	0.53	−0.88	0.02	−2.18	−2.54
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	13.40	2.64	10.57	19.66	21.67	14.02
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	0.58	0.69	1.03	0.89
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−33.55	14.86	34.35	177.46	337.82	−70.58	−107.48
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	186.08	29.31	−453.93	−99.59	39.30	−12.73	428.13
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	12.73	−10.66	−2.18	−1.40	4.83	11.53	27.51
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	28.28	0.19	1.18	0.08	0.03	0.00	0.00
Effective tax ratePublished threshold 17.16 per cent	35.26	50.32	21.97	60.47	36.20	33.49	31.22	23.28	24.99	28.52
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	24.10	0.05	10.60	12.80	15.35

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
12 Oct 2026	CARE Ratings Limited (opens in a new tab)	Non-fund-based - LT/ ST-Bank GuaranteeLong and short-term scales	CARE A- / CARE A2+Review, Re-affirm	Stable	150
12 Oct 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - LT-Cash CreditLong-term scale	CARE A-Review, Re-affirm	Stable	325.26
12 Oct 2026	CARE Ratings Limited (opens in a new tab)	Term Loan-Long TermLong-term scale	CARE A-Review, Re-affirm	Stable	187.75

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.