KP Green Engineering Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript KP Green Engineering Ltd filed with BSE on 18 May 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
KP Green Engineering reported FY26 total income of Rs 1,250 crore, up 78% year-on-year, with EBITDA growing 117% to Rs 249 crore and PAT rising 85% to Rs 136 crore. The company's order book stood at approximately Rs 1,831 crore as of March 31, 2026, including a Rs 819 crore-plus BSNL telecom order. Management discussed capacity utilization, working capital and inventory build-up, EBITDA margin range, and plans for backward integration and new product verticals such as cable and conductor manufacturing.
Numbers mentioned
Total income: INR1,250 crores (FY26)
p. 5
“For FY26 full year, our total income stood at INR1,250 crores as compared to INR702 crores in FY25, registering a growth of 78% year-on-year.”
Salim Yahoo, page 5 of the filed PDF · View the filing
EBITDA: INR249 crores (FY26)
p. 5
“Earnings before interest, tax and depreciation increased to INR249 crores as compared to 115 crores in FY25, reflecting a strong growth of 117%.”
Salim Yahoo, page 5 of the filed PDF · View the filing
EBITDA margin: 20% (FY26)
p. 5
“EBITDA margin also expanded from 16% last year to 20% during the current year.”
Salim Yahoo, page 5 of the filed PDF · View the filing
Profit after tax: INR136 crores (FY26)
p. 5
“Profit after tax stood at INR136 crores as compared to INR73 crores in FY25, registering growth of 85% Y-o-Y.”
Salim Yahoo, page 5 of the filed PDF · View the filing
Total income: INR714 crores (H2 FY26)
p. 5
“For H2 FY26, our consolidated total income stood at INR714 crores, marking an impressive 64% year-on-year growth compared to INR436 crores in H2 FY25.”
Salim Yahoo, page 5 of the filed PDF · View the filing
EBITDA: INR147 crores (H2 FY26)
p. 5
“Our EBITDA grew at 108% reaching INR147 crores, while our profit after tax surged 68% year-on-year to INR77 crores, backed by a strong operational efficiency and economies of scale that continue to enhance our margins.”
Salim Yahoo, page 5 of the filed PDF · View the filing
Order book: approximately INR1,831 crores (as on 31st March 2026)
p. 3
“Further, order books remain strong at approximately INR1,831 crores as on 31st March 2026, providing healthy revenue visibility going forward.”
Vinod Jain, page 3 of the filed PDF · View the filing
Manufacturing capacity: 4,00,500 metric ton per annum (FY26)
p. 5
“On the operation front, our current manufacturing capacity has now reached 4,00,500 metric ton per annum.”
Salim Yahoo, page 5 of the filed PDF · View the filing
Capacity utilization: 1,24,500 metric tons (FY26)
p. 7
“So out of the 4,00,500 plus metric ton that the entire capacity, this year the utilization was 1,24,500 metric tons.”
Salim Yahoo, page 7 of the filed PDF · View the filing
Cash flow from operations: 155 (FY26)
p. 17
“Cash flow, I think we have generated more than that. Cash flow from operations is 155.”
Salim Yahoo, page 17 of the filed PDF · View the filing
Average cost of borrowing: 8.5% to 9%
p. 16
“My average cost of borrowing will be somewhere into 8.5% to 9%.”
Salim Yahoo, page 16 of the filed PDF · View the filing
Group company share of order book: 22% to 23% (FY26)
p. 21
“So, 22% to 23% is internal and rest all is external. Majority is the BSNL telecommunication towers.”
Salim Yahoo, page 21 of the filed PDF · View the filing
Current capacity utilization: 30% to 34%
p. 21
“Yes, yes. 30% to 34% is my present capacity utilization.”
Salim Yahoo, page 21 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.
Order book execution — execute entire order book · FY26-27
stated firmly by Salim Yahoo
p. 6
“This entire FY26-27. This year will be executing the entire order book.”
Salim Yahoo, page 6 of the filed PDF · View the filing
Revenue growth — 40% to 50% year-on-year · till 2030
stated as an aspiration by Salim Yahoo
p. 13
“2030, see, our Honorable CMD sir has already given 40% to 50% growth year-on-year till 2030.”
Salim Yahoo, page 13 of the filed PDF · View the filing
EBITDA margin — 16% to 20% · FY27
stated conditionally by Salim Yahoo
p. 7
“See, EBITDA margin is somewhere depend upon a lot of other factors also, you know, material prices.”
Salim Yahoo, page 7 of the filed PDF · View the filing
Capacity utilization — 40%, 55%, 60% · FY27
stated conditionally by Salim Yahoo
p. 21
“See, if I look at this order book, we might go to 40%, 55%, 60% this year with the growth.”
Salim Yahoo, page 21 of the filed PDF · View the filing
Capacity utilization — 50% to 60% max · FY27
stated conditionally by Salim Yahoo
p. 22
“Next year, for this financial year, we will have approximately 50% to 60% max.”
Salim Yahoo, page 22 of the filed PDF · View the filing
Debt-free status
stated as an aspiration by Salim Yahoo
p. 15
“At present, there is no such plan of getting debt-free.”
Salim Yahoo, page 15 of the filed PDF · View the filing
Main Board listing
stated conditionally by Salim Yahoo
p. 19
“Regarding the current conditions for the Main Board -- once our specific requirements are fulfilled, we will proceed to list the company on the Main Board.”
Salim Yahoo, page 19 of the filed PDF · View the filing
EBITDA margin sustainability — 16% to 20%
stated conditionally by Salim Yahoo
p. 22
“So, we'll try to maintain that margin. But looking at the situations, I mean, there might be other shocks which we have to bear going forward, fuel cost availability cost and everything.”
Salim Yahoo, page 22 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 declined to commit to a specific figure but pointed to a track record of exceeding prior commitments.
Answered by Salim Yahoo
Asked by Vaibhav Surya: Can the company achieve 100% growth this year compared to last year?
p. 6
“See, I will not commit on anything, but I mean what we have committed last time, we have given more than that.”
Salim Yahoo, page 6 of the filed PDF · View the filing
Management reiterated a 40-50% year-on-year growth vision set by the CMD, with upside possible if capacity allows.
Answered by Salim Yahoo
Asked by Pankaj: What is FY27 growth guidance across KP Group companies?
p. 7
“That is the minimum that will be and maximum is no limit.”
Salim Yahoo, page 7 of the filed PDF · View the filing
Management said inventory was stocked up as a hedge against geopolitical disruption to protect margins and material availability.
Answered by Salim Yahoo
Asked by Sparsh Akar: Why did inventory days rise sharply from 96 to 195 days?
p. 8
“It's a hedging strategy towards the pricing and also towards the availability because once the condition goes”
Salim Yahoo, page 8 of the filed PDF · View the filing
Management attributed the decline to a balance sheet reclassification of long-term FDs into other financial assets, not cash deployment.
Answered by Salim Yahoo
Asked by Sparsh Akar: Why did cash and cash equivalents decline sharply and debt rise?
p. 8
“So those are that cash and cash equivalent have been bifurcated into other financial assets and long-term have been put into the financial assets.”
Salim Yahoo, page 8 of the filed PDF · View the filing
Management estimated the pipeline could exceed Rs 3,000 crore, subject to success ratio and pricing discipline.
Answered by Salim Yahoo
Asked by Darshit Shah: What is the bidding pipeline size?
p. 10
“See, the bidding pipeline might go above INR3000 crores also.”
Salim Yahoo, page 10 of the filed PDF · View the filing
Management explained the royalty funds brand-building expenses incurred directly by the promoter, who owns the KP Group brand.
Answered by Salim Yahoo
Asked by Darshit Shah: Why does the company pay a 2% royalty to the promoter?
p. 11
“So promoter does these expenses, whatever payment he gets, he does expenses and everything for creating the brand, for creating value into the brand is being done directly by the promoter.”
Salim Yahoo, page 11 of the filed PDF · View the filing
Management stated the current success ratio in tender business is around 60-70%.
Answered by Salim Yahoo
Asked by Krishna Yoga: What is the tender success ratio?
p. 15
“But at present we have around 60 to 70% of success ratio in our tender business.”
Salim Yahoo, page 15 of the filed PDF · View the filing
Management said the company avoids high-cost debt and venture capital, relying on bank funding due to good credit rating.
Answered by Salim Yahoo
Asked by Pankaj: What is the average cost of borrowing and source of debt?
p. 16
“We have a rating of A category. So, all the banks are very keen to fund us, to fund our working capital.”
Salim Yahoo, page 16 of the filed PDF · View the filing
Management described other current liabilities as mostly TReDS discounting facilities, and noted inventory days rose due to geopolitical stocking while other cycle days improved.
Answered by Salim Yahoo
Asked by Vinay: What is the composition of other current liabilities and working capital days?
p. 18
“So, in the cash conversion cycle, there are around 150 days, which is as per the industry.”
Salim Yahoo, page 18 of the filed PDF · View the filing
Management said half-yearly reporting is currently mandated under SME norms but expects this to change once the company moves to the Main Board.
Answered by Salim Yahoo
Asked by Vaibhav Surya: Can the company move to quarterly reporting?
p. 22
“See, as per SEBI guidelines or the BSE SME guidelines, we will have to do half-yearly.”
Salim Yahoo, page 22 of the filed PDF · View the filing
Management said it would try to maintain the margin range but could not guarantee the peak level would hold given potential cost shocks.
Answered by Salim Yahoo
Asked by Prateek Chaudhary: Is the 20% EBITDA margin sustainable given cost pressures?
p. 22
“But we cannot assure that whether the 20 will be maintained.”
Salim Yahoo, page 22 of the filed PDF · View the filing
Risks flagged
Fuel and gas cost impact from geopolitical disruption affecting manufacturing and galvanizing operations
p. 7
“Yes, see, the impact on the fuel is there because, you know, manufacturing requires a lot of fuel, which is coal, which is gas.”
Salim Yahoo, page 7 of the filed PDF · View the filing
Potential further geopolitical disruption affecting fuel availability next year
p. 8
“Next year also we are trying to see that, you know, if there is a major disruption in the geopolitical condition, then we might”
Salim Yahoo, page 8 of the filed PDF · View the filing
Uncertainty requiring inventory stockpiling to avoid disruption to execution
p. 19
“Because for me, biggest concern is the uncertainty.”
Salim Yahoo, page 19 of the filed PDF · View the filing
Customer requests to delay billing or holding orders due to disruptions at their end
p. 20
“Because also the industry which we are going to supply or the customers, they might also say that please hold on to my order for some time or something because there might be some disruption at his end also.”
Salim Yahoo, page 20 of the filed PDF · View the filing
Raw material cost escalation risk not fully covered by pass-through clauses in all contracts
p. 23
“In other contracts where we don't have, we already have piled up the inventories or we have taken inventory on our books so that we don't have hit on the margins.”
Salim Yahoo, page 23 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.