KPI Green Energy Secures 3 MW Solar Power Project Order, Surges Over 200% in a Year

KPI Green Energy Limited has secured a new 3 MW solar power project order from M/s Jayco Synthetics. This domestic commercial contract falls under the company’s Captive Power Producer (CPP) segment and is expected to be completed in phases throughout the financial year 2024-25. This win marks a positive step for KPI Green in expanding its CPP portfolio and contributing to India’s renewable energy goals.

Overall, this is a positive development for KPI Green Energy as it expands its project portfolio and strengthens its position in the Indian solar power market. The company appears to be focusing on the CPP segment, which caters to the growing demand for clean energy from businesses and industries.

The shares of KPI Green Energy Limited have also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price surged from Rs 456.38 on January 05, 2023, to Rs 1423.35 on January 05, 2023, representing an increase of about 200% in a one-year holding period. An investment of Rs 1 lakh in this company’s shares three years ago would have grown to Rs 3 lakh today.

Financial Performance   

In Q2FY24, the company posted a 34.55% increase in its consolidated revenue at Rs 215.07 crore compared to Rs 159.84 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 72.04 crore, while the PAT of the company stood at Rs 34.74 crore, from Rs 21.16 crore last year in the same quarter.

Business Overview 

KPI Green Energy is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as a service provider to Captive Power Producer (CPP) customers.

Stock Price Movement 

Today, the stock opened at Rs 1,420.95, with a high and low of Rs 1,455.65 and Rs 1,401.05, respectively. The stock closed trading at Rs 1,424.95, which increased by 1.54%. The stock has a 52-week high of Rs 1,490 and a 52-week low of Rs 388.55.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.