The shares of this green energy company gained 3 percent after it bagged an order for a solar power project.
At 9:24 a.m the shares of KPI Green Energy were trading at Rs. 912, up by 3 percent from its previous day close price and the market capitalization of the company is 3,265 Cr.
As per the company’s filing, KPI Green Energy has received new order, for executing solar power project aggregating to 12.10 MW, out of which KPI Green Energy will be undertaking 3.10 MW capacity and Sun Drops Energia Private Limited, a wholly owned subsidiary of the Company will be undertaking 9MW Capacity. The solar power project is scheduled to be completed in FY 23-24.
The company’s revenue has increased by 179.98 percent from 229.94 Cr in FY22 to 643.79 Cr in FY23, accompanied by increasing profits of 43.25 Cr to 109.63 Cr.
The company has reported a return on equity (ROE) of 53.26 percent and return on capital employed (ROCE) of 29.71 percent, this indicates that it is making good returns on its equity and making effective utilisation of the company’s resources.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 54.81 percent stake, the Domestic Institutional Investors hold 2.44 percent and the Foreign Institutional Investors (FII) hold 1.10 percent.
KPI Green Energy is renewable energy company that develops, builds, owns, operates and maintains solar and hybrid power plants through as an Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP) under the brand name of ‘Solarism’.
Written by: Bharath K.S
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