Kalpataru Projects International Sets ₹30,000 Crore Order Win Target for FY27 with 15% Revenue Growth Guidance

Kalpataru Projects Targets ₹30,000 Crore Orders in FY27 with New Energy Verticals

Kalpataru Projects International (KPIL) outlined ambitious growth targets for FY27, setting a ₹30,000 crore order inflow goal and guidance for 15% revenue growth, while maintaining a consolidated order book in the ₹65,000–70,000 crore range. The company is developing expertise in new engineering, procurement, and construction (EPC) sectors, including battery storage, hydrogen, and nuclear projects, positioning itself for future infrastructure needs and energy transitions.

Current Order Book Position

As of March 31, 2026, KPIL's consolidated order book stood at ₹65,457 crore. The company reported order inflows of ₹26,400 crore during FY26 with power T&D having a share of 49 per cent. The domestic market accounts for around 61 per cent of the current order book.

Early FY27 Performance and Pipeline

During the current year, FY27, from April 1, 2026 to around May 14, 2026, KPIL witnessed order inflow of ₹1,833 crore, with the company favourably placed in orders valued at around ₹3,200 crore. The company and its subsidiaries have secured new orders worth ₹2,957 crore across Power Transmission & Distribution (T&D) in India and overseas markets, Buildings and Factories (B&F) in India, and Water business in the Middle East.

Segment Dynamics and International Growth

In FY26, the building & factories (B&F) segment saw strong growth, with order intake of ₹11,460 crore, 40 per cent higher than the corresponding ₹8,225 crore in FY25. From a geographical perspective, KPIL's FY26 order inflow had 32 per cent coming from international mandates, with regions like Africa, Middle East and South America dominating the international order inflow in power T&D.

The Water business order marks a strategic entry into the Middle East via a joint venture or consortium. Growth in FY27 will be driven by a strong push into overseas infrastructure markets, including desalination and sewage treatment plants, airport projects, and metro systems.

Revenue and Profitability in FY26

KPIL reported consolidated results for the year ended 31 March 2026, with the highest annual revenue and improved profitability, with annual consolidated revenue rising 22 per cent to ₹271.43 bn and profit before tax before exceptional items increasing 62 per cent to ₹13.34 bn. The company reported a consolidated revenue increase of 22% to ₹27,143 crore and an 82% surge in profit after tax (PAT) to ₹1,031 crore, while reducing net debt by 53% to ₹915 crore.

Margin Improvement and Balance Sheet Focus

Kalpataru Projects is targeting a margin improvement of 75 to 80 basis points in FY27, building on significant gains over the previous two years. For the full year FY26, EBITDA was ₹22.40 bn with an EBITDA margin of 8.3 per cent, with strengthened PBT margins driven by diversified project mix and disciplined working capital, and with finance costs and leverage at multi-year lows.

Strategic Context: KPIL's Role and Market Position

Since its inception in 1981, Kalpataru Projects has been consistently creating sustainable value for diverse stakeholders through its cutting-edge EPC solutions, establishing itself as one of the largest global players with a presence in over 75+ countries. The company reported total order inflows of ₹26,400 crore during FY26, led by the transmission & distribution (T&D) and buildings & factories (B&F) businesses, with its consolidated order book standing at ₹65,457 crore as of 31 March 2026.

Power T&D historically contributes about 35–40% of turnover, driven by fixed-price and cost-plus EPC contracts tied to milestones. Over 40% of the order book comes from international markets including the Middle East, Africa, and Latin America, providing a hedge against domestic cycles.

Capex and Capital Allocation

Company has planned Capex of ₹800+ crore in FY27, which will be allocated towards B&F, T&D, international projects and plant modernization, funded largely through internal cash flows.