Kalpataru Projects International Limited

NSEI:KPIL Stock Report

Market Cap: ₹186.0b

Kalpataru Projects International Valuation

Is KPIL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KPIL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KPIL (₹1144.95) is trading below our estimate of fair value (₹1481.46)

Significantly Below Fair Value: KPIL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KPIL?

Key metric: As KPIL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KPIL. This is calculated by dividing KPIL's market cap by their current earnings.
What is KPIL's PE Ratio?
PE Ratio35.5x
Earnings₹5.24b
Market Cap₹185.99b

Price to Earnings Ratio vs Peers

How does KPIL's PE Ratio compare to its peers?

The above table shows the PE ratio for KPIL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average45.5x
534309 NBCC (India)
50.2x17.4%₹238.0b
IRCON Ircon International
19x5.7%₹174.7b
KEC KEC International
62.6x38.8%₹264.1b
TECHNOE Techno Electric & Engineering
50.3x28.3%₹159.2b
KPIL Kalpataru Projects International
35.5x29.5%₹186.0b

Price-To-Earnings vs Peers: KPIL is good value based on its Price-To-Earnings Ratio (35.5x) compared to the peer average (45.5x).

Price to Earnings Ratio vs Industry

How does KPIL's PE Ratio compare vs other companies in the IN Construction Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CCCL Consolidated Construction Consortium
0.9xn/aUS$77.70m
533152 MBL Infrastructures
2.6xn/aUS$68.82m
ATLANTAA Atlantaa
2.5xn/aUS$50.21m
SKIL SKIL Infrastructure
0.1xn/aUS$14.33m
KPIL 35.5xIndustry Avg. 25.8xNo. of Companies22PE01632486480+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KPIL is expensive based on its Price-To-Earnings Ratio (35.5x) compared to the Indian Construction industry average (25.8x).

Price to Earnings Ratio vs Fair Ratio

What is KPIL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KPIL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.5x
Fair PE Ratio49.3x

Price-To-Earnings vs Fair Ratio: KPIL is good value based on its Price-To-Earnings Ratio (35.5x) compared to the estimated Fair Price-To-Earnings Ratio (49.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KPIL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹1,144.95
₹1,466.38
+28.1%
6.9%₹1,638.00₹1,305.00n/a16
Nov ’25₹1,293.65
₹1,464.88
+13.2%
6.8%₹1,638.00₹1,305.00n/a16
Oct ’25₹1,349.20
₹1,483.63
+10.0%
7.6%₹1,702.00₹1,267.00n/a16
Sep ’25₹1,347.55
₹1,473.87
+9.4%
7.4%₹1,702.00₹1,267.00n/a15
Aug ’25₹1,363.20
₹1,463.36
+7.3%
7.6%₹1,702.00₹1,267.00n/a14
Jul ’25₹1,169.45
₹1,262.71
+8.0%
9.9%₹1,426.00₹1,043.00n/a14
Jun ’25₹1,195.10
₹1,196.07
+0.08%
15.3%₹1,426.00₹774.00n/a14
May ’25₹1,225.65
₹1,019.21
-16.8%
12.9%₹1,299.00₹774.00n/a14
Apr ’25₹1,117.45
₹988.43
-11.5%
12.3%₹1,200.00₹774.00n/a14
Mar ’25₹971.05
₹964.14
-0.7%
11.0%₹1,140.00₹774.00n/a14
Feb ’25₹802.80
₹755.62
-5.9%
3.6%₹820.00₹707.00n/a13
Jan ’25₹716.15
₹747.20
+4.3%
5.1%₹820.00₹645.00n/a15
Dec ’24₹668.00
₹742.00
+11.1%
4.6%₹787.00₹645.00n/a14
Nov ’24₹659.00
₹724.29
+9.9%
5.5%₹787.00₹630.00₹1,293.6514
Oct ’24₹631.55
₹726.07
+15.0%
7.5%₹882.00₹630.00₹1,349.2015
Sep ’24₹656.10
₹726.07
+10.7%
7.5%₹882.00₹630.00₹1,347.5515
Aug ’24₹629.60
₹662.00
+5.1%
10.3%₹882.00₹583.00₹1,363.2015
Jul ’24₹536.55
₹629.08
+17.2%
6.7%₹701.00₹529.00₹1,169.4513
Jun ’24₹538.90
₹629.08
+16.7%
6.7%₹701.00₹529.00₹1,195.1013
May ’24₹539.95
₹615.42
+14.0%
7.6%₹701.00₹529.00₹1,225.6512
Apr ’24₹534.25
₹617.82
+15.6%
6.9%₹701.00₹555.00₹1,117.4511
Mar ’24₹546.55
₹589.31
+7.8%
13.2%₹701.00₹415.00₹971.0513
Feb ’24₹515.35
₹553.46
+7.4%
10.7%₹635.00₹415.00₹802.8013
Jan ’24₹558.90
₹553.46
-1.0%
10.7%₹635.00₹415.00₹716.1513
Dec ’23₹527.15
₹548.08
+4.0%
10.0%₹615.00₹415.00₹668.0013
Nov ’23₹465.85
₹462.42
-0.7%
8.3%₹545.00₹415.00₹659.0012

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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