Shares of this multibagger small-cap green energy stock gained up to 3.50 percent in Wednesday’s trading session after the company secured a 4.20 MW Hybrid Power Project from a domestic entity.
With a market capitalization of Rs 2,939.86 crores, the stocks of KPI Green Energy Limited started their trading session on Wednesday at Rs 818.15 and currently trades at Rs 813.60.
The scrip recorded an intra-day high of Rs 827.20 exhibiting a gain of around 3.50 percent compared to the previous closing levels of Rs 798.80 apiece.
The company, through a regulatory filing with the BSE dated 23rd October, intimated that it has successfully received an order from M/s. Sustainable Spinning and Commodities Pvt. Limited, a domestic company based in India, for executing a Wind-Solar Hybrid Power Project comprising 4.20 MegaWatt (MW) wind and 3.60 MegaWatt (MW) solar capacity.
The above order is received by the company under its ‘Captive Power Producer (CPP)’ Segment. Adding this order to their bucket, the company’s cumulative orders, under the same segment, have crossed 196 MW. The project is to be executed in FY23-24 in various tranches.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of around 112 percent for its stakeholders, i.e., if someone had invested Rs 1 lakh into the stock a year ago, it would have converted to Rs 2.12 lakhs.
Coming onto the latest financial reports shared by the company, the basic business parameters such as the operating revenues and net profits have increased in the recent quarters.
The operating revenues moved up from Rs 189.36 crores during Q1FY23-24 to Rs 215.07 crores during Q2FY23-24, and, the net profits, keeping the timeframe the same, rose marginally from Rs 33.26 crores to Rs 34.74 crores.
The latest shareholding pattern data, as per the quarter ended September 2023, portrays the company’s Promoters holding a 54.83 percent stake, and the Public (retail) investors holding the remaining 45.17 percent of the company.
Incorporated in 2008, KPI Green Energy Limited is involved in the business of generating and supplying solar power in India under the “Solarism” brand name. As a part of its operations, the company develops, builds, owns, and maintains solar power plants and also conducts the sale of land parcels to third parties.
Written by Amit Madnani
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