FY26 results roundup: KPIL, KEC International, Power Grid, Premier Energies, Siemens Energy, SJVN, Oswal Pumps

Several companies across power infrastructure, engineering, procurement and construction (EPC), renewable energy, and hydropower reported their FY2025-26 financial results the previous week. Here is a summary of the key announcements.

Kalpataru Projects International (KPIL)

Kalpataru Projects International Limited reported its highest-ever annual performance in FY26, with consolidated revenue rising 22% year-on-year to Rs 27,143 crore. EBITDA also increased 22% to Rs 2,240 crore, while margins remained stable at around 8.3%.

The company reported a significant improvement in its balance sheet position. Consolidated net debt declined 53% to Rs 915 crore, while net working capital days reduced to a multi-year low of 75 days.

Profit before tax before exceptional items increased 62% to Rs 1,334 crore, while consolidated earnings per share (EPS) rose 71% to Rs 60.90.

The order book stood at Rs 65,457 crore as of March 31, 2026, with fresh order inflows of Rs 26,400 crore during FY26, mainly from the transmission and distribution (T&D) and buildings and factories businesses. After the end of the fiscal year, KPIL secured additional orders worth Rs 1,833 crore and emerged as L1 (lowest bidder) in projects worth Rs 3,200 crore.

For Q4 FY26, revenue rose 10% year-on-year to Rs 7,778 crore. EBITDA margin expanded by 60 basis points to 8.2%, while quarterly profit before tax before exceptional items increased 50% to Rs 445 crore.

The Board recommended a dividend of Rs 11 per share for FY26. Managing Director Manish Mohnot stated that the company resolved the majority of its non-core assets during the year and remains focused on improving margins and strengthening the balance sheet in FY27.

KEC International

KEC International Limited reported record consolidated revenue of Rs 23,506 crore in FY26, up 8% year-on-year. EBITDA stood at Rs 1,659 crore with a margin of 7.1%, compared to Rs 1,504 crore and 6.9% in FY25. Operating profit after tax (PAT) increased 18% to Rs 650 crore, while PAT margin improved to 2.8% from 2.5%. PAT including exceptional items stood at Rs 606 crore.

The company achieved its highest-ever order intake of Rs 25,280 crore during FY26. The order book stood at Rs 36,267 crore as of March 31, 2026, while the combined order book and L1 position exceeded Rs 40,000 crore.

The contribution of the T&D segment to total revenue increased to 68% from 59% in the previous fiscal. The Board recommended a dividend of Rs 5.5 per share for FY26.

Q4 FY26 performance was comparatively weaker, with revenue declining to Rs 6,390 crore from Rs 6,872 crore in the corresponding quarter last year. Operating PAT for the quarter stood at Rs 193 crore, with margin declining to 3.0% from 3.9%.

Managing Director and Chief Executive Officer Vimal Kejriwal said the softer quarterly performance reflected a challenging operating environment during Q4, though the company maintained strong execution across the full year.

Separately, the Board approved the merger by absorption of wholly owned subsidiary KEC Spur Infrastructure Private Limited into KEC International. The subsidiary is engaged in pipeline EPC projects across oil and gas, water, and power sectors. No consideration will be paid under the merger scheme, and the subsidiary’s shares will be cancelled once the merger becomes effective, subject to approval from the National Company Law Tribunal (NCLT).

Power Grid Corporation of India

Power Grid Corporation of India Limited reported a 9.7% year-on-year increase in consolidated net profit for Q4 FY26 to Rs 4,546 crore, compared to Rs 4,143 crore in Q4 FY25. Revenue from operations declined 5% to Rs 11,666 crore, while EBITDA fell 11.3% to Rs 9,066 crore. EBITDA margin narrowed to 77.7% from 83.3%.

Transmission revenue, the company’s core business segment, declined 7.2% year-on-year to Rs 10,865 crore during the quarter. Consultancy revenue increased 60.4% to Rs 831 crore, while telecom segment revenue rose 4.3% to Rs 316 crore.

The Board recommended a final dividend of Rs 1.25 per equity share for FY26. It also approved raising up to Rs 5,000 crore through a rupee term loan to strengthen the company’s capital position.

Premier Energies

Premier Energies reported a 64.5% year-on-year increase in consolidated net profit to Rs 457 crore in Q4 FY26. Revenue from operations increased 37.6% to Rs 2,230 crore during the quarter. EBITDA stood at Rs 713 crore, although EBITDA margin declined to 31.4% from 35% in the year-ago period. 

Solar module production increased 37% year-on-year to 918 MW, while solar cell production rose 59% to 722 MW during Q4 FY26. For FY26, consolidated net profit increased 61.1% to Rs 1,510 crore, while revenue from operations rose 20% to Rs 7,824 crore.

The order book stood at Rs 14,010 crore as of March 31, 2026, marginally higher than the previous year.

The Board also approved a proposal to raise up to Rs 5,000 crore through qualified institutional placements (QIPs) or other permissible modes involving equity shares, non-convertible debentures, or warrants.

Siemens Energy India

Siemens Energy India reported a 52.4% year-on-year increase in net profit to Rs 375 crore for the quarter ended March 2026.

Revenue from operations rose 27.4% to Rs 2,394 crore, while profit from operations margin improved by 160 basis points to 19.4%. The company’s order backlog increased 22.2% year-on-year to Rs 18,433 crore. The company attributed the performance to improved operating leverage, higher export contribution, and disciplined project execution.

Managing Director and Chief Executive Officer Guilherme Mendonca stated that strong domestic demand linked to electrification and energy security, along with export opportunities, supported growth during the quarter.

The company also announced that Manvi Arora will additionally assume the role of Execution Unit Finance Head for Grid Technologies – Grid Solutions from June 1, 2026, while continuing in her current responsibilities. Mrinal Ghosh, who held interim charge of the role, will return to his position as Execution Unit Finance Head for Steam Turbines and Generators.

SJVN

SJVN Limited reported standalone revenue from operations of Rs 3,545 crore in FY26, up 22.3% year-on-year, while total income stood at Rs 3,870 crore. Profit before tax increased 25.7% to Rs 1,630 crore, while PAT rose 3.9% to Rs 1,008 crore. Operating margin improved to 71.7% from 69.8% in FY25.

The Board recommended a final dividend of Rs 0.35 per share, taking the total dividend for FY26 to Rs 1.50 per share.

On a consolidated basis, revenue increased 47.4% to Rs 4,528 crore. However, consolidated PAT declined 21.5% to Rs 642 crore. The company recognised impairment losses of Rs 174 crore on a standalone basis and Rs 236 crore on a consolidated basis during FY26.

SJVN disclosed multiple project-related developments during the year. The tariff order for the Nathpa Jhakri Hydro Power Station (NJHPS) for the 2024–29 period remains pending before the Central Electricity Regulatory Commission (CERC), with billing currently being carried out provisionally. Revenue includes Rs 671 crore related to earlier years.

The 3,097 MW Etalin Hydro Electric Project (HEP) has been reassigned to NHPC Limited, with Rs 737 crore in assets classified as held for sale.

The Devasari Hydro Project has remained on hold since July 2021, with expenditure of Rs 251 crore incurred so far.

Implementation agreements for the Luhri, Sunni, and Dhaulasidh hydro projects in Himachal Pradesh remain unsigned. The state government has indicated that it may consider taking back these projects. The matter is currently pending before the Himachal Pradesh High Court. SJVN has recognised Rs 865 crore under property, plant and equipment (PPE) and Rs 3,068 crore under capital work-in-progress (CWIP) linked to these projects.

Oswal Pumps

Oswal Pumps Limited reported its highest-ever annual total income and profitability in FY26. Total income increased 45.6% year-on-year to Rs 2,086 crore from Rs 1,433 crore in FY25. EBITDA rose 26.7% to Rs 535 crore, while PAT increased 34.1% to Rs 376 crore.

EBITDA margin declined to 25.7% from 29.5%, while PAT margin narrowed to 18% from 19.6%. Diluted EPS increased 23.2% to Rs 34.73. For Q4 FY26, total income rose 41.3% to Rs 517 crore, while PAT increased 44.8% to Rs 93 crore.

Operating cash flow for Q4 FY26 turned positive at Rs 171 crore. Full-year operating cash flow also turned positive at Rs 39 crore, supported by collections of Rs 116 crore received at the beginning of April 2026.

The company’s order book includes more than 19,912 pumps across direct and indirect PM KUSUM categories, Magel Tyala, and export orders. It also has a near-term pipeline exceeding 25,000 pumps.

Oswal Pumps expanded into rooftop solar and commercial and industrial (C&I) EPC projects during FY26, including its first order under the PM Surya Ghar: Muft Bijli Yojana. The company has developed a 300 MW project pipeline across these segments.