Kalpataru Projects International Ltd. (KPIL) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Kalpataru Projects International Ltd. ₹1,279, price ₹1,356, upside -5.7%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range ₹322.97 – ₹1,446 · fair‑value band ₹793.67 – ₹1,599 · the ₹1,356 price screens above the ₹1,279 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.
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Kalpataru Projects International Limited provides engineering, procurement, and construction (EPC) services for power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas, and urban infrastructure sectors in India and internationally.
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Kalpataru Projects International Limited provides engineering, procurement, and construction (EPC) services for power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas, and urban infrastructure sectors in India and internationally. The company operates in Engineering, Procurement and Construction; Developmental Project; and Others segments. It designs, tests, procures, fabricates, erects, installs, and commissions power transmission lines, substations, and underground cable works; executes civil works, design and build composite works, structural works, finishing works, utility installations, and area development for buildings and factories; and designs and builds water intake, pipeline installation, treatment, storage, supply, distribution, and operation and maintenance of water projects. The company also offers services under its railway arm, including overhead electrification, traction substations, station buildings, railway track laying, earthwork, workshops, signaling and telecommunication, power systems, and civil works with railway networks and projects; and EPC services for the design and construction of highways, bridges and flyovers, airports, metro rail corridor stations and transit terminals and hubs, as well as undertakes EPC contracting for cross-country pipelines, terminals, and gas gathering stations for the oil and gas sectors. In addition, it is involved in agri-storage infrastructure with value added services, such as testing and certification, collateral management, pest control activities, preservation, maintenance, and security services, as well as management and operation of warehouses; and operates biomass power generation plants. The company was formerly known as Kalpataru Power Transmission Limited and changed its name to Kalpataru Projects International Limited in May 2023. Kalpataru Projects International Limited was incorporated in 1981 and is based in Mumbai, India.
Stock analysis
Kalpataru Projects International Ltd. (KPIL) currently trades at ₹1,356, while our model-based Fair Value estimate is ₹1,279, so the stock looks roughly fairly valued today (gap 6.1%).
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹1,596 per share, and 12 of the 26 models we run sit above the ₹1,356 price.
Bear case: the Dividend Discount group reads lowest at ₹136.12, and 14 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹793.67 (bear) to ₹1,599 (bull), the price of ₹1,356 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kalpataru Projects International Ltd. reported revenue of ₹271B in FY2026 versus ₹148B in FY2022, a compound +16.4%/yr. Reported net income was ₹10.4B in FY2026, compounding +17.8%/yr from FY2022.
Key figures
Market cap ₹232B (≈ $2.4B) · P/E ratio 20.4 · P/S ratio 0.78 · EPS (TTM) ₹66.62 · Dividend yield 0.8% · Net margin 3.8% · Return on equity 14.5% · Return on assets (EBIT) 11.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at −6%, KPIL screens cheaper than that median.
Fair Value models
Bear ₹793.67Fair Value ₹1,279Bull ₹1,599
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹28.19 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+21.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+18.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+16.0%
Start year 2021 (pandemic). Over 10 years: +14.2% a year
Revenue growth 21 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+20.5%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+7.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.6%
Dividend (yield on the price)0.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.10.9% vs 22.7%, slowing
Profit margin 2005 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 6%
2026 sits 94% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+41.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+12.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +35.9% a year for the price and +7.7% for the forecasts.
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Peer Groupⓘ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.Engineering & Construction · 785 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside−5.7% · Below median
Profitability
Return on equity (TTM)14.5% · Above median
Return on assets4.1% · Above median
Net margin (TTM)4.2% · Above median
Operating margin (TTM)6.6% · Above median
Growth and dividend
Revenue growth3.8% · Above median
Dividend yield (TTM)0.8% · Below median
Balance sheet
Debt / equity0.08× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kalpataru Projects International Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/KPIL
Frequently asked questions
Is Kalpataru Projects International Ltd. (KPIL) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹1,279 versus a price of ₹1,356, about −6% upside (fairly valued).
What is the fair value of KPIL?
Our model-based fair value for Kalpataru Projects International Ltd. is ₹1,279 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹1,356.
What is the quality score of KPIL?
Kalpataru Projects International Ltd. has a Quality Score of 42/100. 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 price target for Kalpataru Projects International Ltd. (KPIL)?
Our model-based price target is the fair value of ₹1,279 (as of Oct 1, 2026) from 26 valuation models. Cautious scenario ₹793.67, optimistic scenario ₹1,599. It is a calculation from audited fundamentals, not an analyst target.
What is the Kalpataru Projects International Ltd. stock forecast for 2026?
Our models put fair value at ₹1,279, about −6% upside versus a price of ₹1,356 (fairly valued). Cautious scenario ₹793.67, optimistic scenario ₹1,599. The calculation is refreshed regularly with new filings.
What is the revenue of Kalpataru Projects International Ltd. (KPIL)?
Kalpataru Projects International Ltd. reported trailing-twelve-month revenue of about ₹274B (latest available figure, as of Oct 1, 2026).
Does Kalpataru Projects International Ltd. pay a dividend?
Kalpataru Projects International Ltd. currently shows a dividend yield of about 0.81% relative to its recent price (as of Oct 1, 2026).
What growth is priced into Kalpataru Projects International Ltd. (KPIL)?
For today's price to be fair in a discounted-cash-flow model, Kalpataru Projects International Ltd. would have to grow free cash flow by +41.5 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.0 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of KPIL use?
Our models discount Kalpataru Projects International Ltd. at 10.9 %: a base by market capitalisation (mid), damped by beta 0.46, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Kalpataru Projects International Ltd. that is +41.5 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Kalpataru Projects International Ltd. (KPIL) delivered so far?
Over the past 5 years revenue at Kalpataru Projects International Ltd. grew +16.0 % a year. The price currently implies +41.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Kalpataru Projects International Ltd. (KPIL) growing?
The median revenue growth in the sector is +6.4 % a year. That is the yardstick for the growth priced into Kalpataru Projects International Ltd. (+41.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kalpataru Projects International Ltd. (KPIL)?
The free-cash-flow yield on the price is 1.23 %: that much free cash flow Kalpataru Projects International Ltd. produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kalpataru Projects International Ltd. (KPIL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kalpataru Projects International Ltd. it is ₹1,279 per share (as of Oct 1, 2026), against a price of ₹1,356. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Kalpataru Projects International Ltd. stock overvalued or undervalued in 2026?
As of Oct 1, 2026, KPIL trades above its calculated fair value: price ₹1,356, fair value ₹1,279, a gap of about −6% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KPIL?
No. The price is what the market pays today (₹1,356); the fair value is what the company's own numbers justify (₹1,279). For Kalpataru Projects International Ltd. the two are ₹77.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kalpataru Projects International Ltd. worth?
The market values Kalpataru Projects International Ltd. at about ₹232B (market capitalisation, as of Oct 1, 2026). Per share that is ₹1,356; our models calculate a fair value of ₹1,279 per share.
What do the bullish and bearish scenarios say about KPIL?
Our models span a range for Kalpataru Projects International Ltd.: cautious scenario ₹793.67, base ₹1,279, optimistic ₹1,599 per share (as of Oct 1, 2026, price ₹1,356). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KPIL?
Kalpataru Projects International Ltd. trades at a price-to-earnings ratio of 20.4 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,279 is built from several models across several years. Other multiples: P/B 3.0, P/S 0.8, EV/EBITDA 10.2.
How solid is the balance sheet of Kalpataru Projects International Ltd. (KPIL)?
Balance-sheet figures for Kalpataru Projects International Ltd. (as of Oct 1, 2026): return on equity 14.5%, debt of 0.08 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is KPIL from its 52-week high?
Kalpataru Projects International Ltd. trades at ₹1,356, about 6% below its 52-week high of ₹1,446 and 34% above the low of ₹1,010 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,279 is for.
Which stocks are comparable to Kalpataru Projects International Ltd.?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Kalpataru Projects International Ltd. stock attractive at the current price?
The data as of Oct 1, 2026: price ₹1,356, calculated fair value ₹1,279 (−6%), Quality Score 42/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KPIL calculated?
We run Kalpataru Projects International Ltd. through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,279, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Kalpataru Projects International Ltd. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Kalpataru Projects International Ltd. (KPIL)?
The closing price on Oct 1, 2026 was ₹1,356. Our model-based fair value is ₹1,279, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kalpataru Projects International Ltd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (₹793.67 to ₹1,599) leaves room in how you read the outcome.
Where does the earnings growth of Kalpataru Projects International Ltd. (KPIL) come from?
Earnings per share at Kalpataru Projects International Ltd. grew +18.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +12.6 %, EBIT margin −13.3 %, tax rate +3.2 %, residual (interest, one-offs) +17.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Kalpataru Projects International Ltd.
How large is the market capitalisation of Kalpataru Projects International Ltd. (KPIL)?
The market capitalisation of Kalpataru Projects International Ltd. is ₹232B (≈ $2.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Kalpataru Projects International Ltd. (KPIL)?
The price-to-sales ratio of Kalpataru Projects International Ltd. is 0.78 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kalpataru Projects International Ltd. (KPIL)?
Earnings per share at Kalpataru Projects International Ltd. are ₹66.62 (price ÷ EPS = P/E 20.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kalpataru Projects International Ltd. (KPIL)?
The dividend yield of Kalpataru Projects International Ltd. is 0.8% (payout 16.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Kalpataru Projects International Ltd. (KPIL)?
The net margin of Kalpataru Projects International Ltd. is 3.8% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Kalpataru Projects International Ltd. (KPIL)?
The return on equity (ROE) of Kalpataru Projects International Ltd. is 14.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Kalpataru Projects International Ltd. (KPIL)?
On an EBIT basis the return on assets of Kalpataru Projects International Ltd. is 11.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Kalpataru Projects International Ltd. (KPIL)?
The operating margin of Kalpataru Projects International Ltd. is 6.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kalpataru Projects International Ltd. (KPIL)?
Revenue at Kalpataru Projects International Ltd. is growing +3.8% versus a year earlier (3y avg +18.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Kalpataru Projects International Ltd. (KPIL)?
Earnings per share at Kalpataru Projects International Ltd. are growing +45.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kalpataru Projects International Ltd. (KPIL) carry?
The net debt of Kalpataru Projects International Ltd. is ₹20.3B (fiscal year 2026, ≈ 7.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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