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KPI Green Energy Limited (KPIGREEN) Fair Value & Analysis

Utilities · IN · Market cap ₹60.8B

KG KPI Green Energy Limited KPIGREEN · BSE
Price₹312.80
Fair Value₹340.96
Upside+9.0%
Quality33/100
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Strengths

Solidly profitable · 16.4% net margin
Wide moat 69/100

Risks

!Expensive Growth
!Moderate debt · negative free cash flow
Expensive Growth
Solidly profitable · 16.4% net margin
Moderate debt · negative free cash flow
0.23% dividend yield
Wide moat 69/100
Evidence: High Range ₹246.35 – ₹565.49 Share as image

Fair value as of: Aug 21, 2026

From 16 valuation models · updated yesterday

Share price −21.1% over the past month.

Below-average quality, currently priced close to our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (₹246.35 to ₹565.49) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹728.80 ₹4.59 Fair Value ₹340.96 Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹4.59 – ₹728.80 · fair‑value band ₹246.35 – ₹565.49 · the ₹312.80 price screens below the ₹340.96 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

KPI Green Energy Limited (KPIGREEN) currently trades at ₹312.80, while our model-based Fair Value estimate is ₹340.96, implying the stock looks roughly 9.0% fairly valued today. The Quality Score stands at 33/100 (below-average quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, KPI Green Energy Limited generated revenue of ₹27.9B at a net margin of 16.4%. Revenue grew 15.1% year over year. It earns a return on equity of 17.3%. Net debt stands at ₹44.2B. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹246.35 (bear case) to ₹565.49 (bull case); at ₹312.80, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 42% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -36% fair-value upside, at 9%, KPIGREEN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹161.02 ₹225.69 ₹899.90 76
ROIC Compounder ₹213.85 ₹374.82 ₹536.18 72
Gordon GGM ₹7.84 ₹16.29 ₹25.85 70
All 16 models by family
Earnings-Based
Graham-Dodd ₹163.79 ₹1,142 ₹1,603 54
Lynch FV ₹590.13 ₹843.04 ₹1,096 50
PEG = 1.0 ₹590.13 ₹843.04 ₹1,096 46
EPV ₹178.31 ₹237.97 ₹290.16 59
Dividend Discount
Gordon GGM ₹7.84 ₹16.29 ₹25.85 70
DDM Multi-Stage ₹7.84 ₹13.74 ₹17.10 61
Multiples
P/E Multiple ₹325.17 ₹433.56 ₹541.96 63
P/S Multiple ₹255.72 ₹340.96 ₹426.20 58
P/B Multiple ₹207.21 ₹276.28 ₹345.35 55
EV/EBIT ₹290.16 ₹446.75 ₹603.34 53
EV/EBITDA ₹183.98 ₹305.17 ₹426.37 54
EV/Revenue ₹59.06 ₹161.35 ₹263.63 43
Asset-Based
NCAV (Graham) ₹76.74 ₹102.84 ₹153.49 50
Economic Profit
Residual Income ₹161.02 ₹225.69 ₹899.90 76
ROIC Compounder ₹213.85 ₹374.82 ₹536.18 72
Growth Earnings
Growth-Adj P/E ₹737.49 ₹1,054 ₹1,370 68

Widest divergence: Growth Earnings (₹1,054) versus Dividend Discount (₹13.74). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹27.9B
Revenue growth (YoY) +15.1%
Net margin 16.4%
Return on equity 17.3%
Free cash flow −₹26.1B FY2026
P/E ratio 13.6
More key figures
Operating margin 28.1%
EPS (TTM) ₹23.07
Dividend yield 0.2%
EPS growth (YoY) -17.7%
Net debt ₹44.2B FY2026

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 32 · Market factors (momentum, volatility) 25

Profitability 42
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 39
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

KPI Green Energy Limited generates and supplies solar power under Solarism brand name in India. The company develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer; and sells land parcels to third parties, including industrial plots.

Full company description

KPI Green Energy Limited generates and supplies solar power under Solarism brand name in India. The company develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer; and sells land parcels to third parties, including industrial plots. It also offers operation and maintenance, and hybrid energy solutions. The company was formerly known as K.P.I. Global Infrastructure Limited and changed its name to KPI Green Energy Limited in April 2022. KPI Green Energy Limited was incorporated in 2008 and is based in Surat, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

KPI Green Energy Limited reported revenue of ₹27.0B in FY2026 versus ₹2.3B in FY2022, a compound +85.0%/yr. Reported net income was ₹4.8B in FY2026, compounding +82.2%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹27.0B
Latest YoY
+55.3%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+61.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+91.9%
Avg. growth/yr (6Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+88.9%
Revenue +85.0%/yr
FY22 ₹2.3B
FY23 ₹6.4B
FY24 ₹10.2B
FY25 ₹17.4B
FY26 ₹27.0B
Net income +82.2%/yr
FY22 ₹432M
FY23 ₹1.1B
FY24 ₹1.6B
FY25 ₹3.2B
FY26 ₹4.8B

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Cite: Fair Value Calculator (2026). "KPI Green Energy Limited Fair Value". https://www.fairvalue-calculator.com/stock/KPIGREEN.BSE

Peer Group

Utilities - Renewable · 218 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 33 · Below median
Fair Value upside +9% · Above median
Return on equity (TTM) 17% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 28% · Above median
Revenue growth 15% · Above median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 1.21× · Higher than median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 13.6× · Cheaper than median
P/B 2.00× · Pricier than median
P/S (TTM) 2.18× · Pricier than median
EV/EBITDA 9.6× · Pricier than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.96 ¥25.13 -10%
Ørsted A/S ORSTED kr 148.25 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.69 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,319 ₹169.61 -87%
AXIA Energia SA AXIAP $10.74 $9.49 -12%
BEPUN BEPUN C$44.56 C$10.15 -77%
China Longyuan Power Group 001289 ¥15.92 ¥7.55 -53%
SDIC Power Holdings 600886 ¥13.95 ¥16.63 +19%
China Three Gorges Renewables (Group) Co 600905 ¥3.77 ¥2.40 -36%
GD Power Development Co 600795 ¥5.13 ¥6.83 +33%

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Frequently asked questions

Is KPI Green Energy Limited (KPIGREEN) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹340.96 versus a price of ₹312.80, about +9% (fairly valued).
What is the fair value of KPIGREEN?
Our model-based fair value for KPI Green Energy Limited is ₹340.96 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹312.80.
What is the quality score of KPIGREEN?
KPI Green Energy Limited has a Quality Score of 33/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of KPI Green Energy Limited (KPIGREEN)?
KPI Green Energy Limited reported trailing-twelve-month revenue of about ₹27.9B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of KPIGREEN?
The net profit margin of KPI Green Energy Limited is about 16.4%, meaning it keeps roughly 16.4% of revenue as net income. Based on the latest reported figures.
Does KPI Green Energy Limited pay a dividend?
KPI Green Energy Limited currently shows a dividend yield of about 0.23% relative to its recent price (as of Aug 21, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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