SMC Global Securities Limited

Now, let’s talk numbers: • FY25 revenue: ₹1,755 Cr (up 70% YoY) • Net profit: ₹325 Cr (2x YoY) • Q4 revenue: +97% YoY • Q4 PAT: +142% YoY https://t.co/Uk9pHnR0fa

But what are the risks? ⚠️Capital intensity of IPP projects ⚠️Execution timelines for large-scale projects ⚠️Regulatory changes in the renewables sector Investors should watch these carefully while tracking the growth story

What’s the CAPEX plan for all this expansion? ₹4,000 Cr total for IPP build-out Funding mix: – 75% debt – 25% equity (already secured) And yet, they improved net debt-equity from 0.5x in FY24 ➔ 0.33x in FY25 The equity part is already secured via past QIP + internal https://t.co/qVm0iShjaI

Free cash flow in FY25: ₹200 Cr This supports future investments while keeping the balance sheet clean Net debt-to-equity improved from 0.5x to 0.33x https://t.co/bERLV7ZOel

They aren’t stopping at solar KPI confirmed battery energy storage plans with prototypes under development, ensuring grid compliance They also announced early plans to explore green hydrogen, leveraging synergy with their renewable assets https://t.co/gKdlzLo0Wt

Margins matter. Here’s how it looks: 🪙CPP margins: 20-22% 🪙IPP margins: 85-90% As the IPP share increases, blended EBITDA margins are expected to move towards 32-33% This means as they grow, they also become more profitable https://t.co/o5LnnAPY4Z

If you want to understand how India’s clean energy future is getting built on the ground while delivering profits, watch KPI Green Follow @smcglobal for more deep breakdowns on India’s most interesting growth stories

In short, KPI Green is positioning itself as a scalable, margin-expanding, renewable energy play in India With: • Growing revenues rapidly • Doubling profits • Improving margins • Maintaining balance sheet health • Expanding strategically It’s a small-cap playing a

Healthy leverage means faster scalability with lower financial stress Strategic wins in FY25: ✅300 MWAC project from Coal India ✅100 MWAC project from MAHAGENCO These large clients add stability and credibility to KPI’s growth story KPI Green is also looking beyond India https://t.co/TtYb9MSCcc