KPI Green Energy Limited (KPIGREEN.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-8061.0%

-₹22,907.71

vs ₹287.75 price

Levered DCF

-₹20,314.29

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	16.07×	25.39×	56.65×	14.28×	23.23×	16×	23.86×	13.28×
P/B	2.52×	3.38×	7.32×	4.12×	4.6×	1.44×	1.56×	1.2×
P/S	2.84×	4.72×	5.98×	1.65×	3.08×	1.56×	2.57×	3.43×
EV / EBITDA	12.21×	16.92×	21.01×	8.29×	10.4×	7.5×	10.5×	7.38×
Gross margin	47.6%	47.3%	34.9%	36.3%	53.1%	50.1%	62.8%	63.4%
Operating margin	30.6%	44.3%	29.6%	29.0%	41.3%	45.7%	15.4%	31.9%
Net margin	17.7%	18.4%	15.8%	17.0%	18.8%	13.9%	10.9%	25.8%
Current ratio	1.64×	2.76×	1.49×	1.2×	1.43×	2.56×	1.09×	3.09×
Debt / equity	1.71×	0.61×	1.24×	2.62×	2.9×	2.82×	1.42×	0.4×
Interest coverage	4.53×	9.68×	3.58×	3.99×	2.57×	1.89×	1.17×	2.84×
Dividend yield	0.2%	0.1%	0.0%	0.5%	0.3%	0.0%	0.0%	0.0%
Payout ratio	3.5%	3.7%	1.1%	5.0%	4.2%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.7%	13.2%	19.3%	42.5%	28.1%	12.8%	6.6%	9.0%
Return on invested capital	6.9%	13.2%	11.5%	14.5%	10.8%	6.6%	1.9%	5.1%
Return on assets	4.8%	6.7%	6.6%	8.7%	5.6%	3.0%	2.2%	5.5%
Free cash flow yield	-34.1%	-13.8%	-4.0%	-10.1%	-12.5%	-41.2%	-51.7%	-27.2%
Earnings yield	6.2%	3.9%	2.6%	10.3%	6.1%	8.9%	4.2%	7.5%
Enterprise value	₹122.9B	₹95.4B	₹71B	₹17.3B	₹11.5B	₹4.7B	₹2.8B	₹1.6B
Net debt / EBITDA	4.61×	2.4×	2.91×	3.19×	3.99×	4.94×	4.8×	1.79×
Cash conversion cycle (days)	356	140	107	28	261	448	59	558