🔍

KPEL - K.P. Energy

📊 NSE: KPEL 🏢 Engineering - Turnkey Services 📅 Last Updated: 12/14/2025 8:45

📢 Recent Corporate Announcements

KP Energy Wins LoA for 40.8 MW Wind-Solar Hybrid Project in Gujarat

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 25 Feb 2026, 11:02 PM

K.P. Energy Limited has secured a Letter of Award (LoA) from Enerparc Energy Private Limited for a 40.8 MW Wind-Solar Hybrid Power Project in Gujarat. The project comprises 20.2 MW of wind and 20.6 MWp of solar capacity, to be executed on a complete turnkey basis. The scope includes supply, installation, commissioning, and development of evacuation infrastructure. This award strengthens the company's execution pipeline and its position as an integrated renewable energy solutions provider.

Secured LoA for a 40.8 MW Wind-Solar Hybrid Power Project in Gujarat
Project includes 20.2 MW wind capacity and 20.6 MWp solar capacity
Contract awarded by Enerparc Energy Private Limited on a turnkey basis
Scope covers supply, installation, commissioning, and grid connectivity

💡 Investors should view this as a positive development for the company's order book and execution pipeline. Monitor the company's ability to meet project timelines to ensure timely revenue recognition.

K.P. Energy Bags 100 MW Wind Power Project from SECI at ₹3.67/kWh Tariff

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 10 Feb 2026, 08:55 PM

K.P. Energy Limited (KPEL) has secured a Letter of Award from the Solar Energy Corporation of India (SECI) for a 100 MW ISTS-connected wind power project in Gujarat. This project, won through competitive bidding at a tariff of ₹3.67/kWh, will significantly expand the company's Independent Power Producer (IPP) portfolio from current levels to approximately 150 MW. The project is expected to be commissioned within 24 months from the effective date of the Power Purchase Agreement (PPA). This move aligns with KPEL's strategy to build a steady IPP revenue stream alongside its existing EPC business.

Awarded 100 MW wind power project by SECI under the Tranche XIX competitive bidding process
Discovered tariff for the project is set at ₹3.67 per kWh
Total IPP portfolio to increase to approximately 150 MW upon project completion
Project execution timeline is 24 months from the effective date of the PPA
Project to be located in Gujarat, leveraging the company's regional expertise

💡 Investors should view this as a significant growth milestone that triples the company's IPP capacity and provides long-term revenue visibility. Monitor the signing of the formal PPA and the commencement of construction as next key triggers.

KP Energy Q3 FY26 Revenue Surges 63% to ₹347.6 Cr; Order Book Hits 2.18 GW

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 11:01 AM

KP Energy reported a strong performance for Q3 FY26, with consolidated revenue growing 63% YoY to ₹347.6 crores and PAT increasing 57% to ₹41.3 crores. The company maintains a robust order book of 2.18 GW, with execution timelines spanning 12-18 months. Management confirmed a growth trajectory of 50-60% and highlighted an expanding O&M portfolio of over 644 MW. The company is also nearing the closure of significant new orders in the hybrid and BOS segments expected in the next quarter.

Consolidated revenue for Q3 FY26 rose 63% YoY to ₹347.6 crores, the highest ever for a third quarter.
EBITDA grew by 75% YoY to ₹77.2 crores, while PAT increased by 57% to ₹41.3 crores.
The current order book stands at 2.18 GW, providing revenue visibility for the next 12-18 months.
Operation and Maintenance (O&M) portfolio crossed 644 MW, contributing to recurring service revenue.
Management expects Q4 FY26 to be the highest-ever fourth quarter, supported by strong execution.

💡 Investors should monitor the conversion of the 2.18 GW order book into revenue and the announcement of new hybrid project orders. The company's 50-60% growth guidance and integrated execution model make it a strong player in the wind energy ecosystem.

KPEL Releases Audio Recording of Q3 and 9M FY26 Earnings Conference Call

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 28 Jan 2026, 06:56 PM

K.P. Energy Limited has officially released the audio recording of its earnings conference call held on January 28, 2026. The call focused on the company's unaudited financial performance for the quarter and nine months ended December 31, 2025. This disclosure is a standard regulatory requirement under SEBI LODR Regulations to ensure transparency for all shareholders. Investors can now access management's detailed commentary on operational performance and future outlook via the company's website.

Audio recording of the Q3 and 9M FY26 earnings call is now available for public access.
The conference call was conducted on January 28, 2026, at 4:30 PM IST.
The recording covers management discussion on unaudited financial results for the period ending December 31, 2025.
A formal written transcript of the proceedings will be submitted to the exchanges in due course.

💡 Investors should listen to the recording to gain qualitative insights into the company's project pipeline and management's guidance for the upcoming quarters.

K.P. Energy to Host Q3FY26 Earnings Conference Call on January 28, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 21 Jan 2026, 12:12 PM

K.P. Energy Limited has scheduled an earnings conference call for Wednesday, January 28, 2026, at 4:30 PM IST. The call will focus on the company's unaudited financial results for the third quarter and the nine-month period ending December 31, 2025. Top management, including the Whole Time Director, Group CEO, and CFO, will be present to interact with analysts and investors. This session is a key event for stakeholders to understand the company's performance and future growth trajectory in the renewable energy space.

Earnings conference call scheduled for January 28, 2026, at 16:30 IST
Focus on unaudited financial results for Q3FY26 and the nine-month period ended December 31, 2025
Management representation includes Whole Time Director, Group CEO, and CFO
Call hosted by Share India Securities Ltd with dial-in numbers +91 22 6280 1266 and +91 22 7115 8167

💡 Investors should attend or review the transcript of the call to gain insights into the company's project execution status and order book updates. Pay close attention to management's guidance on the renewable energy sector's regulatory environment and margin sustainability.

KPEL Allots 6.88 Lakh Shares to Promoter via Warrant Conversion; Raises ₹21.28 Crore

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 21 Jan 2026, 11:09 AM

K.P. Energy Limited has approved the allotment of 6,88,800 equity shares to its promoter, Dr. Faruk G. Patel, following the conversion of warrants. The conversion was executed at an issue price of ₹412 per share, with the company receiving the final 75% payment amounting to ₹21.28 crore. This transaction completes the conversion of all outstanding warrants from the August 2024 issuance. Consequently, the promoter's stake in the company has increased from 44.88% to 45.44%.

Allotment of 6,88,800 equity shares at an issue price of ₹412 per share (including ₹407 premium).
Receipt of ₹21.28 crore representing the final 75% balance consideration for the warrants.
Promoter Dr. Faruk G. Patel's shareholding increased from 44.88% to 45.44%.
Total paid-up equity capital increased from ₹33.45 crore to ₹33.80 crore.
Completion of the warrant conversion process with zero warrants remaining pending.

💡 The promoter's decision to exercise warrants and increase their stake at a significant premium reflects strong internal confidence. Investors should monitor the company's deployment of these funds into its renewable energy project pipeline.

KPEL Declares 4% Interim Dividend; Promoter Increases Stake via Warrant Conversion

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 21 Jan 2026, 11:03 AM

K.P. Energy Limited (KPEL) has declared its third interim dividend of ₹0.20 per share (4% of face value) for FY 2025-26, setting January 28, 2026, as the record date. The company also completed the allotment of 6,88,800 equity shares to its promoter, Dr. Faruk G. Patel, following the conversion of warrants at an issue price of ₹412 per share. This conversion involved a final payment of ₹21.28 crore, representing the remaining 75% consideration. As a result, the promoter's stake in the company has increased from 44.88% to 45.44%.

Declared a third interim dividend of ₹0.20 per equity share (4% of ₹5 face value).
Fixed January 28, 2026, as the record date for dividend eligibility.
Allotted 6,88,800 equity shares to the promoter upon conversion of warrants at ₹412 per share.
Received ₹21.28 crore in cash as the final 75% payment for the warrant conversion.
Promoter shareholding increased from 44.88% to 45.44% following the allotment.

💡 Investors seeking the interim dividend must hold shares before the record date of January 28, 2026. The promoter's capital infusion and increased stake are positive signals of internal confidence in the company's future prospects.

KPEL Declares ₹0.20 Interim Dividend and Completes ₹21.28 Cr Warrant Conversion

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 21 Jan 2026, 11:01 AM

K.P. Energy Limited has declared its third interim dividend of ₹0.20 per share for FY 2025-26, with a record date of January 28, 2026. The company also finalized the conversion of 6,88,800 warrants by Promoter Dr. Faruk G. Patel at an issue price of ₹412 per share. This transaction resulted in a capital infusion of ₹21.28 crore, representing the final 75% payment. Consequently, the promoter's stake has increased from 44.88% to 45.44%, reflecting strong management confidence in the company's future.

Declared third interim dividend of ₹0.20 per share (4% of face value ₹5)
Record date for dividend eligibility fixed as January 28, 2026
Allotted 6,88,800 shares to Promoter at ₹412/share upon warrant conversion
Received ₹21.28 crore in cash inflow from the final warrant payment
Promoter group shareholding increased from 44.88% to 45.44%

💡 Shareholders should ensure they hold shares by the record date of January 28 to be eligible for the dividend. The promoter's stake increase at a significant premium is a positive signal for long-term investors.

KP Energy Q3 FY26 Net Profit Surges 58% YoY to ₹41 Crore; Revenue Up 63%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 21 Jan 2026, 10:50 AM

K.P. Energy Limited reported a robust performance for Q3 FY26, with revenue from operations growing 63% YoY to ₹345 crore. Profit After Tax (PAT) increased by 58% to ₹41 crore, while EBITDA saw a significant 75% jump to ₹77 crore. The company maintains a massive project pipeline of over 2.18 GW and has secured strategic MoUs for an additional 4.5 GW with partners like Inox Wind and Senvion. With a credit rating upgrade to CARE A- and an ambitious 10 GW group target by 2030, the company shows strong growth momentum.

Total Income grew 63% YoY to ₹348 crore, while EBITDA surged 75% to ₹77 crore in Q3 FY26.
Net Profit (PAT) reached ₹41 crore, a 58% increase from ₹26 crore in the same quarter last year.
Current project execution pipeline stands at 2.18+ GW with a total renewable portfolio exceeding 3.29 GW.
Strategic alliances formed for 2.5 GW with Inox Wind and 2 GW with Senvion India for wind and hybrid projects.
Credit rating upgraded by CARE Ratings to 'A-; Stable' due to significant growth in scale and established track record.

💡 Investors should note the strong execution visibility provided by the 2.18 GW order book and the company's expansion into high-margin segments like offshore wind. The consistent growth in EBITDA and PAT margins suggests high operational efficiency, making it a strong play in the renewable energy infrastructure space.

KP Energy Declares 4% Interim Dividend and Allots 6.88 Lakh Shares to Promoter

🟢 POSITIVE ⭐ 8/10

BOARD_MEETING 📅 21 Jan 2026, 10:46 AM

K.P. Energy Limited has declared its third interim dividend of ₹0.20 per share (4% of face value) for FY 2025-26, with a record date set for January 28, 2026. The company also approved the allotment of 6,88,800 equity shares to its promoter, Dr. Faruk G. Patel, following the conversion of warrants at an issue price of ₹412 per share. This conversion brought in the final 75% consideration amounting to ₹21.28 crores. As a result, the promoter's stake in the company has increased from 44.88% to 45.44%.

Declared 3rd interim dividend of ₹0.20 per share (4%) for FY 2025-26.
Allotted 6,88,800 equity shares to Promoter Dr. Faruk G. Patel at ₹412 per share.
Received final warrant conversion payment of ₹21.28 crores, completing the total issuance.
Promoter shareholding increased from 44.88% to 45.44% post-allotment.
Total paid-up equity capital increased to ₹33.79 crores across 6.75 crore shares.

💡 Investors should view the promoter's increased stake and the capital infusion of ₹21.28 crores as a positive sign of internal confidence. The consistent dividend payout also provides a yield benefit while waiting for growth in the renewable energy sector.

KP Group Signs INR 4,000 Cr MoU with Gujarat Govt for 855 MW Renewable Projects

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 12 Jan 2026, 07:44 PM

KP Group, which includes K.P. Energy Limited, has signed a Memorandum of Understanding (MoU) with the Government of Gujarat for renewable energy projects worth approximately INR 4,000 crore. The agreement outlines the development of 855 MW of capacity, comprising solar and ISTS-connected wind-solar hybrid projects across locations like Devbhumi Dwarka and Kutch. The state government will facilitate necessary permissions and approvals, supporting the group's massive scale-up in the green energy sector. This development significantly enhances the company's project pipeline and long-term growth visibility.

Total proposed investment of approximately INR 4,000 crore in Gujarat's renewable sector
Aggregate capacity of 855 MW including 605 MW solar and 250 MW wind-solar hybrid projects
Projects include 200 MW DC solar under DREBP and 405 MW solar power projects
Includes 250 MW of ISTS-connected Wind-Solar Hybrid Power Projects (CTU)
Estimated employment generation for over 4,000 individuals in the state

💡 Investors should view this as a significant growth catalyst that strengthens KPEL's market position in the renewable energy space. Key monitorables include the timeline for converting this MoU into definitive contracts and the financing structure for the INR 4,000 crore investment.

K.P. Energy Submits SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jan 2026, 07:20 PM

K.P. Energy Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended December 31, 2025. The certificate, issued by Bigshare Services Private Limited, confirms that all dematerialization requests were processed within the mandatory 15-day period. It further validates that share certificates were mutilated and cancelled, with the depositories' names updated in the register of members. This filing is a standard procedural requirement to ensure the integrity of electronic shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025
Registrar Bigshare Services confirmed processing of dematerialization requests within 15 days
Securities comprised in the certificates are confirmed to be listed on the stock exchanges
Verification and cancellation of physical certificates completed as per SEBI norms

💡 No action is required as this is a routine administrative filing. Investors should monitor the company for upcoming quarterly financial results and project execution updates.

KPEL Announces Trading Window Closure from Jan 1, 2026 for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Dec 2025, 10:46 AM

K.P. Energy Limited (KPEL) has officially announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of the company's unaudited financial results for the quarter and nine-month period ending December 31, 2025. The restriction applies to all directors, KMPs, and designated persons, lasting until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be communicated in a separate future filing.

Trading window closure effective from January 1, 2026.
Closure is for the purpose of declaring Q3 and nine-month FY26 unaudited financial results.
Restriction remains in place until 48 hours after the financial results are declared.
Applies to all Directors, Key Managerial Personnel (KMPs), and Designated Persons.
Board meeting date for result approval to be announced in due course.

💡 This is a routine regulatory filing and does not impact the company's fundamentals. Investors should wait for the announcement of the board meeting date to track the upcoming quarterly performance.

KPEL Shareholders Approve Appointment of Dr. Indu Gupta Rao as Independent Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 18 Dec 2025, 01:48 PM

K.P. Energy Limited has announced the successful passing of a Special Resolution via postal ballot for the appointment of Dr. Indu Gupta Rao as a Non-Executive Independent Director. The resolution received overwhelming support with 99.9981% of the total votes cast in favor. A total of 3,42,43,084 valid votes were polled, representing approximately 51.18% of the company's total paid-up equity capital. The voting process was conducted through remote e-voting between November 18 and December 17, 2025.

Appointment of Dr. Indu Gupta Rao as Non-Executive Independent Director approved via Special Resolution
Total of 3,42,43,084 valid votes cast, with 99.9981% (3,42,42,427 votes) in favor
Only 657 votes (0.0019%) were cast against the resolution
Promoter group held 3,00,29,226 shares and voted 100% in favor of the resolution
The voting results were verified by Scrutinizer Chirag Shah and Associates

💡 This is a routine corporate governance update confirming the addition of an independent director to the board. No immediate action is required as this does not fundamentally change the company's financial outlook.

KP Energy signs $4 billion MoU with Botswana for 5 GW renewable energy projects

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 17 Dec 2025, 05:11 PM

KP Energy, as part of the KP Group, has entered into a landmark Memorandum of Understanding with the Government of Botswana for large-scale renewable energy and power infrastructure. The collaboration targets a capital investment of approximately $4 billion (Rs. 36,000 crore) to develop nearly 5 GW of renewable energy capacity. The project scope includes energy storage, high-voltage transmission lines, and regional power interconnections to support Botswana's net-zero 2030 goal. This marks a significant international expansion for the group, moving beyond its domestic Indian footprint.

Signed MoU with Botswana Government for projects worth approximately $4 billion (Rs. 36,000 crore)
Aims to develop nearly 5 GW of renewable energy capacity including storage and transmission
KP Group to lead technical and commercial development, including financing, construction, and O&M
Includes upgrading high-voltage transmission lines and strengthening regional power interconnections
Strategic international expansion for KP Group into emerging markets with high solar and wind potential

💡 Investors should monitor the conversion of this MoU into definitive contracts and the subsequent execution timelines. The massive scale of the investment relative to the company's current size represents a significant long-term growth catalyst.

View All KPEL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total Operating Income (TOI) grew by 98% in FY25 to INR 926.57 Cr from INR 469.50 Cr in FY24, driven primarily by higher EPC income. H1 FY26 revenue from operations reached INR 520 Cr, a 60% increase compared to INR 326 Cr in H1 FY25, while Q2 FY26 revenue grew 51% YoY to INR 301 Cr.

Geographic Revenue Split

100% of the current order book is concentrated in Gujarat. While this exposes the company to state-specific policy risks, it leverages Gujarat's position as the state with the second-highest installed wind capacity in India and financially healthy discoms.

Profitability Margins

PAT margin was 12.10% in FY25, a slight decline from 12.49% in FY24 due to higher interest costs of INR 18 Cr in H1 FY26 (up from INR 13 Cr). Q1 FY26 PAT margin stood at 11.65%. Margins are expected to improve as the IPP portfolio grows beyond the current 48.5 MW, benefiting from large-scale O&M efficiencies.

EBITDA Margin

PBILDT margin improved to 18.86% in FY25 from 18.16% in FY24. H1 FY26 EBITDA reached INR 118 Cr (up 59% YoY) with a margin of approximately 22.7%. Q1 FY26 PBILDT margin was 22.19%, driven by operational efficiencies and the use of in-house equipment like large cranes which reduce fixed mobilization costs.

Capital Expenditure

Fixed assets increased by 157% YoY to INR 514 Cr in H1 FY26 from INR 200 Cr in H1 FY25, reflecting significant investment in wind IPP projects and infrastructure. The company has repayment obligations of INR 25.32 Cr in FY26 and INR 23.46 Cr in FY27.

Credit Rating & Borrowing

CARE Ratings reaffirmed 'CARE A-; Stable' for long-term bank facilities of INR 513.01 Cr and 'CARE A2+' for short-term facilities of INR 150.00 Cr. Interest costs rose 39% YoY in H1 FY26 to INR 18 Cr due to term loans availed for wind IPP projects.

⚙️ Operational Drivers

Raw Materials

Structural steel requirements and renewable infrastructure solutions represent the primary material costs. The company saw a slight decline in the cost of material consumed in FY25 due to better sourcing and increased sales volume.

Import Sources

Sourced primarily from within Gujarat, specifically through group company linkages to ensure supply chain stability for EPC projects.

Key Suppliers

KP Green Engineering Limited (KPIGEL) is the primary supplier for structural requirements, creating strong operational linkages within the KP Group.

Capacity Expansion

The company holds an order book of 2.1 GW as of June 30, 2025, which is 3.33x the FY25 TOI. The IPP segment currently operates 48.5 MW with plans to scale this portfolio to improve long-term margins.

Raw Material Costs

Total operating expenses for H1 FY26 were INR 406 Cr, up 54% YoY from INR 263 Cr, tracking the 60% revenue growth. Procurement is streamlined through group entities to mitigate price volatility in steel and components.

Manufacturing Efficiency

Operational efficiency is driven by 'large-scale benefits' where mobilizing for larger megawatt orders from a single entity reduces fixed costs per unit of power capacity installed.

Logistics & Distribution

Distribution costs are managed by focusing on geographically clustered sites in Gujarat, which minimizes the movement of heavy equipment like cranes and turbines.

📈 Strategic Growth

Expected Growth Rate

50-60%

Growth Strategy

The company plans to achieve this CAGR through the execution of its INR 3,086 Cr order book over the next three years. Strategy includes diversifying into offshore wind, expanding IPP capacity to capture higher margins, and entering new state markets like Maharashtra, Madhya Pradesh, and Rajasthan via signed MOUs.

Products & Services

Wind, solar, and hybrid Engineering, Procurement, Construction and Commissioning (EPCC) services; Independent Power Producer (IPP) electricity sales; Operations and Maintenance (O&M) services; and wind resource assessment.

Brand Portfolio

KP Energy, KP Group

New Products/Services

Expansion into offshore wind projects and hybrid (solar-wind) power solutions are the primary new growth avenues expected to contribute to the 50-60% growth guidance.

Market Expansion

Targeting Maharashtra, Madhya Pradesh, and Rajasthan to reduce the current 100% revenue dependency on Gujarat.

Market Share & Ranking

Not disclosed as a specific percentage, but identified as a leading player in the Gujarat wind infrastructure sector with a 2.1 GW pipeline.

Strategic Alliances

Strong internal JVs with KP Green Engineering Limited and KPI Green Energy Limited for project sourcing and infrastructure supply.

🌍 External Factors

Industry Trends

The renewable industry is growing rapidly but remains fragmented and competitive. The shift toward hybrid (wind-solar) projects and offshore wind represents the next technology frontier where KPEL is positioning itself.

Competitive Landscape

Operates in a fragmented industry with competition from both large national EPC players and specialized renewable energy firms.

Competitive Moat

Moat is built on 'backward integration' for infrastructure solutions and owning critical execution assets (cranes). This is sustainable because it allows for lower bid costs compared to competitors who must rent equipment.

Macro Economic Sensitivity

Highly sensitive to interest rate volatility as seen in the FY25 PAT margin compression following increased debt for IPP projects.

Consumer Behavior

Increasing demand from Corporate IPPs and Captive Power Producers (CPPs) for green energy to meet ESG goals is driving the 3.33x order book-to-sales ratio.

Geopolitical Risks

Minimal direct exposure as operations are domestic, but global supply chain disruptions in wind turbine components could delay project commissioning.

⚖️ Regulatory & Governance

Industry Regulations

Subject to Gujarat state policies on wind-solar hybrids, land ceiling acts for project sites, and GEDA (Gujarat Energy Development Agency) regulations.

Environmental Compliance

As a renewable energy company, it benefits from carbon credit potential and green energy incentives, though specific compliance costs are not disclosed.

Taxation Policy Impact

Effective tax rate is not explicitly stated, but PBT to PAT conversion in H1 FY26 (INR 89 Cr to INR 61 Cr) suggests a standard corporate tax profile of approx 31%.

⚠️ Risk Analysis

Key Uncertainties

Execution risk of the INR 3,086 Cr order book within the 3-year timeline; potential for 10-20% margin volatility if material costs for steel rise sharply.

Geographic Concentration Risk

100% of revenue and order book is currently tied to Gujarat, creating a high-impact risk from regional regulatory shifts.

Third Party Dependencies

74% revenue dependency on group entity KPIGEL for order flow, making KPEL's growth contingent on the group's overall financial health.

Technology Obsolescence Risk

Risk of wind turbine technology shifts; mitigated by the company's focus on EPCC and infrastructure rather than turbine manufacturing.

Credit & Counterparty Risk

Receivables quality is supported by a client base of reputed firms like NTPC and Aditya Birla, and management confirms funding for group orders is already secured.