KPIL Q3 & 9M FY26: Revenue Up 16% YoY to ₹6,665 Cr; Order Book ₹63,287 Cr
Kalpataru Projects International Limited (KPIL) reported Q3 FY26 consolidated revenue of ₹6,665 Cr (+16% YoY) and 9M FY26 revenue of ₹19,365 Cr (+27% YoY). The order book stands at ₹63,287 Cr. Consolidated net debt reduced by 29% QoQ to ₹2,240 Cr. VEPL sale completed in Jan 2026 for ~₹799 Cr.
The announcement includes key financial performance metrics, order book status, debt reduction, and a significant asset sale, all of which are material to investors and stakeholders.
The company reported strong revenue growth, a robust order book, significant reduction in net debt, and successful asset divestment, indicating positive financial health and operational performance.
Kalpataru Projects International Limited (KPIL) announced its financial results for the third quarter and nine months ended December 31, 2025. The company reported a consolidated revenue of ₹6,665 crores for Q3 FY26, marking a 16% year-on-year increase. For the nine-month period (9M FY26), consolidated revenue grew by 27% to ₹19,365 crores.
Consolidated Profit Before Tax (PBT) before exceptional items surged by 37% to ₹277 crores in Q3 FY26 and by 69% to ₹889 crores in 9M FY26. Consolidated Profit After Tax (PAT) saw a 7% increase to ₹149 crores in Q3 FY26 and a significant 72% jump to ₹600 crores in 9M FY26.
The company's order book stood strong at ₹63,287 crores as of December 31, 2025, a 3% year-on-year increase, providing approximately three years of business visibility. Order inflows for YTD FY26 reached ₹19,456 crores, with additional L1 or favorably placed orders estimated at ₹7,000 crores, primarily in the T&D and B&F segments.
KPIL also reported a significant reduction in its consolidated net debt by 29% quarter-on-quarter to ₹2,240 crores, resulting in a Net Debt to Equity ratio of 0.31x. The company completed the sale of its Vindhyachal Road Asset (VEPL) in January 2026 for an enterprise value of approximately ₹799 crores (post-closing adjustments), receiving cash inflows of around ₹600 crores.
EBITDA margins were constrained due to the closure of legacy projects in Fasttel (Brazil), lower revenue in the Water business, and a decline in income from Road BOOT assets post the termination of Wainganga Expressway. The company is on track to achieve its targeted growth in revenue and profitability for FY26.
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Kalpataru Projects International Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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