During Tuesday’s trading session, the shares of one of the prominent players in India’s infrastructure and EPC sectors hit a 5 percent upper circuit at Rs. 82 on NSE, after the company announced securing a 67.61 MWp Solar Project in Gujarat.
Price Movement
With a market capitalisation of Rs. 101 crores, the shares of K2 Infragen Limited closed in the green at Rs. 80, up by around 2.4 percent, as against its previous closing price of Rs. 78.1. The stock hit its 52-week high at Rs. 329 on 4th July 2024, and compared to current price levels of Rs. 80, the stock is trading at a discount of nearly 76 percent.
What’s the News
As per the latest regulatory filings with the NSE, K2 Infragen Limited has secured a solar EPC project contract, including the supply of BOS material, for a 67.61 Mega Watt DC capacity in Gujarat.
This significant solar project is part of a 450 MWp initiative being developed by Coal India Limited in Khavda, Gujarat. The contract was awarded to K2 Infragen by KPI Green Energy Limited. Following this addition, the company’s total order book under execution has now reached Rs. 578.54 crores.
Order Book & Capex
As of 15th March 2025, K2 Infragen’s order book stands at Rs. 547.43 crores, with unexecuted orders totalling Rs. 327 crores. The largest contribution to the order book comes from Roads Projects (64.23 percent), followed by Water Supply Projects (17.99 percent), Power Projects (10.37 percent), Railway Projects (7.13 percent), and Civil Work Projects (0.23 percent). The company achieved an on-time project delivery rate of 83 percent in FY25. K2 Infragen’s capex plan includes an investment of Rs. 12 crores for machinery upgrades.
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Management Guidance
By FY27, K2 Infragen aims to expand its order book to over Rs. 1,250 crores, with projected revenue of Rs. 450 crores and net profit reaching Rs. 36 crores. The company’s strategic focus includes expanding into renewable energy projects like solar and wind, direct bidding in Transmission and Railway segments, and engaging in JV bidding for roads & other large EPC projects. Additionally, K2 Infragen is investing in technology, adopting AI and IoT for real-time project monitoring.
Financials
The company reported a decline in revenue from operations, experiencing a year-on-year fall of nearly 13.5 percent, decreasing from Rs. 59 crores in H1 FY24 to Rs. 51 crores in H1 FY25. During the same period, the company’s net profit decreased from Rs. 6 crores to Rs. 4 crores, representing a decline of 33.3 percent YoY.
About the Company
Founded in 2015, K2 Infragen Limited is an integrated EPC company offering a comprehensive suite of services, encompassing project engineering from design to execution, and power engineering solutions tailored to the evolving power sector.
Written by Shivani Singh
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