Kalpataru Projects International Limited (KPIL), a leading infrastructure EPC company, announced its results today for the quarter and half year ended 30th September, 2025.
CONSOLIDATED FINANCIAL HIGHLIGHTS
Quarterly Performance (Q2 FY26 vs Q2 FY25)
Revenue grew by 32% YoY to ₹6,529 Crores led by robust execution and healthy order backlog
EBITDA up 28% YoY to ₹561 Crores; EBITDA Margin at 8.6%
PBT grew by 71% YoY to ₹322 crores; PBT margin improves by 110 bps to 4.9%
PAT at ₹237 crores in Q2 FY26 compared to ₹126 crores in Q2 FY25, reflecting a growth of 89% YoY
Half Yearly Performance (H1 FY26 vs H1 FY25)
Revenue stands at ₹12,700 Crores, increase of 33% YoY
EBITDA up 33% YoY to ₹1,087 Crores; EBITDA Margin at 8.6%
PBT grew by 88% YoY to ₹612 crores; PBT margin up by 140 bps to 4.8%
PAT up 115% YoY to ₹451 crores
Net debt at ₹3,169 Crores, a decline of 14% YoY; Net Working Capital improves by 8 days to 90 days as of 30 September 2025
STANDALONE FINANCIAL HIGHLIGHTS:
Quarterly Performance (Q2 FY26 vs Q2 FY25)
Reported revenue of ₹5,419 Crores, marking an impressive 31% YoY growth
EBITDA up by 28% YoY to ₹447 Crores; EBITDA Margin at 8.3%
PBT grew by 48% YoY to ₹272 crores with PBT Margin at 5.0%.
PAT up by 51% YoY to ₹200 crores
Half Yearly Performance (H1 FY26 vs H1 FY25)
Revenue stands at ₹10,459 Crores, up 33% YoY
EBITDA up by 32% YoY to ₹876 Crores; EBITDA Margin at 8.4%
PBT grew by 57% YoY to ₹546 crores; PBT Margin improves by 80 bps to 5.2%
PAT up by 61% YoY to ₹401 crores
Net debt at ₹2,189 Crores, a decline of 22% YoY; Net Working Capital at 102 days as on 30th September 2025, decline of 16 days YoY and 4 days QoQ
ORDER INTAKE & ORDER BOOK
Received new orders worth ₹14,951 crores till date in FY26, growth of ~26% YoY; Further, favourably placed in orders worth ~ ₹5,000 Crores
Consolidated Order book as of 30th September 2025, after giving effect to change in scope, stands at ₹64,682 crores
Management Comments
Commenting on the results, Mr. 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 ₹64,682 Crores, as we have secured orders nearly worth ₹14,951 Crores and further are favourably placed in projects worth ₹5,000 Crores, 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.”
