On Wednesday, January 29, KPI Green Energy announced that it had signed a Memorandum of Understanding (MoU) with the Odisha government to establish renewable energy parks in Ganjam. The agreement aligns with the company’s vision to expand its footprint in the renewable energy sector and contribute to a cleaner and more sustainable future.
The company stated in an exchange filing, “By signing this MoU, we demonstrate our mutual commitment to the growth of the renewable energy sector and our vision for a sustainable, clean energy future.”
Following the MoU announcement, KPI Green Energy’s share price surged 5%, hitting the upper circuit as of 12:55 PM on January 29. However, despite this positive movement, the stock has seen a sharp decline of 46.83% over the last 6-month.
Earlier this month, on January 3, KPI Green Energy’s subsidiary, Drops Energia Pvt Ltd, announced that it had secured letters of intent for developing solar power projects with a total capacity of 32.15 MW under its captive power producer (CPP) business segment.
The projects have been awarded by multiple entities, including:
These projects are expected to be completed in phases during FY 2025-26, based on the terms agreed upon with the respective clients.
KPI Green Energy’s total revenue for Q2 FY 2024-2025 reached ₹361.4 crore, reflecting a significant 67.4% increase compared to ₹215.9 crore in the same quarter last year. EBITDA in Q2 FY24-25 grew to ₹134.4 crore, an impressive 86.6% rise from ₹72 crore in the corresponding quarter of FY 23-24.
Profitability was further demonstrated by a remarkable 120% increase in Profit Before Tax (PBT), reaching ₹96.6 crore, compared to ₹43.9 crore in the previous period. Profit After Tax (PAT) also increased to ₹69.8 crores, representing a 101% increase from ₹34.7 crores, in comparison with the corresponding quarter of the previous period.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 29, 2025, 3:59 PM IST
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