KPIL's FY26 Order Wins Cross ₹12,600 Crore, Eyes Growth

Introduction

Kalpataru Projects International Limited (KPIL) has demonstrated a strong start to the fiscal year 2026, securing a series of significant orders that bolster its market position and provide clear revenue visibility. The specialized Engineering, Procurement, and Construction (EPC) company has consistently announced new contracts, primarily in its Power Transmission & Distribution (T&D) and Buildings & Factories (B&F) divisions, pushing its order intake for FY26 to over ₹12,620 crore. This robust performance underscores the company's operational strength and its ability to capitalize on growing infrastructure demand both in India and overseas.

Consistent Order Momentum in FY26

The company's order inflow has been a key highlight throughout the fiscal year. In a significant announcement on September 12, 2025, KPIL and its subsidiaries secured new orders valued at approximately ₹2,720 crore. These contracts included projects in the T&D business across India and international markets, alongside orders for its B&F business within India. This followed other successful bids, including a notable win worth ₹2,293 crore announced on February 3, 2026, which also comprised a mix of overseas T&D projects and domestic B&F contracts. These consistent wins have progressively built up the company's order book, reflecting strong client confidence and repeat business, particularly from private real estate developers.

Management's Perspective on Growth

Manish Mohnot, the Managing Director & CEO of KPIL, has expressed confidence in the company's trajectory. Commenting on the new orders, he highlighted the strong momentum in the T&D and B&F businesses. He noted that the increasing global demand for grid infrastructure has provided a significant boost to the T&D segment. Mohnot emphasized KPIL's expertise across the entire T&D value chain, from design and engineering to manufacturing and commissioning, as a key competitive advantage. He stated, "With these orders, our order intake till date in FY26 has reached about ₹12,620 crores," providing "good visibility for future growth." The company has set an ambitious target to secure orders worth ₹28,000 to ₹30,000 crore in FY26.

Robust Financial Performance in Q2 FY26

KPIL's strong operational performance is mirrored in its financial results. The second quarter of FY26 was reported as the company's best-ever Q2 in terms of revenue and profitability. Consolidated revenue grew by an impressive 32% year-over-year to reach ₹6,529 crore, driven by robust project execution. This growth translated effectively to the bottom line, with Profit After Tax (PAT) surging by 89% YoY to ₹237 crore.

The company's Profit Before Tax (PBT) saw a 71% YoY increase to ₹322 crore, with the PBT margin improving by 110 basis points to 4.9%. While EBITDA grew 28% to ₹561 crore, the EBITDA margin saw a slight moderation to 8.6%.

Order Book and Market Outlook

As of the end of the second quarter of FY26, KPIL's order book stood at a healthy ₹64,682 crore. This substantial backlog, combined with the continuous inflow of new orders, provides a strong foundation for sustained revenue growth over the medium term. The company's diversified presence across high-growth sectors like T&D, B&F, railways, and water infrastructure positions it well to benefit from ongoing capital expenditure cycles globally. The management has also indicated that the company is favourably placed in additional projects worth ₹5,000 crore, primarily in the T&D business, which could further enhance its order book.

Company Profile and Strategic Position

Kalpataru Projects International is a leading global EPC conglomerate with a diversified portfolio. Its operations span Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, and Urban Mobility. With projects currently being executed in over 30 countries and a global footprint in 75 nations, KPIL has established itself as a key player in the international infrastructure landscape. The company's ability to secure repeat orders and expand its presence in both domestic and international markets highlights its strong project execution capabilities and technical expertise.

Conclusion

Kalpataru Projects International's performance in FY26 has been marked by strong and consistent order wins, leading to a robust order book and a positive outlook for future growth. Supported by solid financial results in Q2 and a clear strategy focused on high-growth infrastructure segments, the company is well on its way to achieving its ambitious order inflow target for the year. The continued momentum in its T&D and B&F businesses provides a clear path for sustained performance in the upcoming quarters.