GK Energy Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript GK Energy Ltd filed with BSE on 13 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
GK Energy reported standalone revenue of INR 505 crores for Q1 FY27, up 71.1% year-on-year, with EBITDA of INR 86.1 crores and PAT of INR 59.7 crores. The company installed 24,118 systems during the quarter, more than double the volume from the same period last year, and its order book stood at INR 541 crores as of June 2026 including orders received post-June. Management discussed the status of PM-KUSUM 2.0, expected margin trends, and the split between solar pump and rooftop revenue during the call.
Numbers mentioned
Standalone revenue: INR 505 crores (Q1 FY27)
p. 3
“Standalone revenue from our operation increased by 71.1% year-on-year to INR 505 crores, compared to INR 295 crores in Q1 of FY2026.”
Gopal Kabra, page 3 of the filed PDF · View the filing
EBITDA: INR 86.1 crores (Q1 FY27)
p. 3
“EBITDA increased by 47.7% to INR 86.1 crores, with an EBITDA margin of 17.05%.”
Gopal Kabra, page 3 of the filed PDF · View the filing
PAT: INR 59.7 crores (Q1 FY27)
p. 3
“PAT, profit after tax, increased by 61.6% to INR 59.7 crores, compared to INR 36.9 crores in the same quarter last year.”
Gopal Kabra, page 3 of the filed PDF · View the filing
Order book: INR 541 crores (as on June 2026)
p. 3
“Our order book as on June 2026, including order received post June, was INR 541 crores, providing visibility for execution over coming quarter.”
Gopal Kabra, page 3 of the filed PDF · View the filing
Systems installed: 24,118 systems (Q1 FY27)
p. 3
“We installed 24,118 systems during Q1 FY27, more than double the 10,827 systems installed in the Q1 last year.”
Gopal Kabra, page 3 of the filed PDF · View the filing
Renewable energy capacity commissioned: 109 MW (Q1 FY27)
p. 3
“With commissioning of 109 MW of renewable energy capacity during the quarter, with this, our cumulative installation base has crossed 1,64,500 systems and 726 MW of renewable energy capacity in decentralized way.”
Gopal Kabra, page 3 of the filed PDF · View the filing
Rooftop share of revenue: 5% (Q1 FY27)
p. 8
“Rooftop has just started for us. So, it is around 5% is rooftop and the 95% pump.”
Gopal Kabra, page 8 of the filed PDF · View the filing
Rooftop share of order book: 20% (as on call date)
p. 8
“But when I'm comparing my order book, so I have a 20% order book from the rooftop and 80% from the pump.”
Gopal Kabra, page 8 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — doubling revenue · FY27
stated firmly by Gopal Kabra
p. 4
“We are definitely on that track only.”
Gopal Kabra, page 4 of the filed PDF · View the filing
PAT margin — two-digit · FY27
stated firmly by Gopal Kabra
p. 5
“We are expecting profit to remain in the same line, what is been achieved in the quarter one.”
Gopal Kabra, page 5 of the filed PDF · View the filing
PM-KUSUM 2.0 scheme launch — Q3
stated firmly by Gopal Kabra
p. 5
“No, we have considered in Q3 only. In my last call also, I said that PM-KUSUM 2.0 will come in Q3. Not before.”
Gopal Kabra, page 5 of the filed PDF · View the filing
Rooftop business acceleration
stated conditionally by Gopal Kabra
p. 5
“But if in case what you are saying, yes, there would be slight impact, but in that position, we will accelerate our rooftop business to mitigate the gap.”
Gopal Kabra, page 5 of the filed PDF · View the filing
PM-KUSUM 2.0 work start — end of Q3
stated firmly by Gopal Kabra
p. 7
“Harshil ji, KUSUM 2, as I have said quarter three, so definitely I'm expecting the end of the quarter three it should start.”
Gopal Kabra, page 7 of the filed PDF · View the filing
Realization per pump
stated as an aspiration by Gopal Kabra
p. 7
“And with the practical approach, I feel the realization will remain the same what it is, unless-until something happen drastically.”
Gopal Kabra, page 7 of the filed PDF · View the filing
Revenue target — $1 billion enterprise · 2030
stated as an aspiration by Gopal Kabra
p. 8
“So, we are having the multiple boxes, these all things will have the driving force to become a $1 billion enterprise.”
Gopal Kabra, page 8 of the filed PDF · View the filing
Interest expense
stated firmly by Gopal Kabra
p. 9
“It shall stay in this range.”
Gopal Kabra, page 9 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management confirmed the company remains on track to achieve its FY27 growth target, citing pipeline orders from Magel Tyala phases and PM-KUSUM 2.0.
Answered by Gopal Kabra
Asked by Bhagwat: Is the growth guidance of doubling revenue for FY27 still intact given the current order book size?
p. 4
“We are definitely on that track only.”
Gopal Kabra, page 4 of the filed PDF · View the filing
Management said the previously indicated decline in margins was as expected and PAT would remain in the same range as Q1.
Answered by Gopal Kabra
Asked by Bhagwat: What explains the margin compression in Q1 and what margins are expected for FY27?
p. 5
“We are expecting profit to remain in the same line, what is been achieved in the quarter one.”
Gopal Kabra, page 5 of the filed PDF · View the filing
Management reiterated the scheme is expected to launch in Q3 as previously guided.
Answered by Gopal Kabra
Asked by Bhagwat: What is the status of PM-KUSUM 2.0 and when will fresh tenders be released?
p. 5
“See, as I have already mentioned last call also, Q3 is what I have indicated, and I'm very much clear that it will come by Q3.”
Gopal Kabra, page 5 of the filed PDF · View the filing
Management clarified the press release was in response to a legislative assembly question and was not directly related to PM-KUSUM 2.0.
Answered by Gopal Kabra
Asked by Aashish Upganlawar: What is the exact status of PM-KUSUM 2.0 given a minister's comments about fund disbursement to various departments?
p. 5
“So, that question has been answered by that press release. So, I don't consider that press release has the any direct relation with PM-KUSUM 2.0.”
Gopal Kabra, page 5 of the filed PDF · View the filing
Management explained that Q1 is historically the lowest quarter and Q4 typically contributes the largest share of annual revenue.
Answered by Gopal Kabra
Asked by Arav: How does the company plan to reach its targeted revenue given the current quarterly run rate?
p. 6
“So, quarter four goes around 35% to 40% of the business in some of the years.”
Gopal Kabra, page 6 of the filed PDF · View the filing
Management confirmed realization per pump was lower while overall volume grew.
Answered by Gopal Kabra
Asked by Maitri Shah: Is there a discrepancy between pump volume growth and revenue growth due to lower realizations from competition?
p. 7
“See, number wise growth is there as you have already corrected. Yes, realization has been low per pump, but the overall volume is growing up.”
Gopal Kabra, page 7 of the filed PDF · View the filing
Management said rooftop contributed around 5% of revenue and 95% was from pumps, while rooftop made up 20% of the order book.
Answered by Gopal Kabra
Asked by Harshil Solanki: What is the revenue and volume split between solar pumps and rooftop systems?
p. 8
“Rooftop has just started for us. So, it is around 5% is rooftop and the 95% pump.”
Gopal Kabra, page 8 of the filed PDF · View the filing
Management attributed the decline to surplus cash from receivables and use of IPO funds for working capital instead of bank debt, and said the range would be maintained.
Answered by Gopal Kabra
Asked by Smith Gala: How did interest expense decline from INR 11 crores to INR 5 crores and will it stay at this level?
p. 9
“We have utilized the fund raised by the IPO to support our working capital.”
Gopal Kabra, page 9 of the filed PDF · View the filing
Risks flagged
Potential delay in PM-KUSUM 2.0 scheme rollout could impact revenue growth
p. 5
“But if in case what you are saying, yes, there would be slight impact, but in that position, we will accelerate our rooftop business to mitigate the gap.”
Gopal Kabra, page 5 of the filed PDF · View the filing
Lower per-unit realization on solar pumps due to competition
p. 7
“Yes, realization has been low per pump, but the overall volume is growing up.”
Gopal Kabra, page 7 of the filed PDF · View the filing
Uncertainty over future realization levels pending PM-KUSUM 2.0 specifications and bid pricing
p. 8
“Still the price has bid has been not open, so I cannot comment on that what will be there.”
Gopal Kabra, page 8 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.