One of the leading players in the renewable energy sector received a 4.66 MW order to execute a solar power project from its subsidiary on Friday.
On Friday, KPI Green Energy Ltd shares closed at Rs 1,214.90 per share, up 1.5 percent from the previous close price. The company has a market capitalization of Rs 4,389 crore.
According to the company’s exchange filing, The company received a new order of 4.66 MW to execute a solar power project from Sun Drops Energia Private Limited, a wholly-owned subsidiary of the Company under the ‘Captive Power Producer (CPP)’ Segment of the Company.
In addition to the above-mentioned order, the Company’s cumulative orders of solar power projects, to date, have crossed 143+ MW under the CPP segment of the Company.
KPI Green Energy Ltd shares have gained returns of 151 percent in six months and 170 percent in a year. A shareholder investment of Rs 1 lakh in the company a year ago, would be worth Rs 2.70 crore.
The company’s revenue has increased by 35 percent yearly, rising from Rs 159 crore in Q2FY23 to Rs 215 crore in Q2FY24. Further, Net profit climbed by 62 percent within the same period, from Rs 21 crore to Rs 34 crore.
As per the latest shareholding pattern, the company promoters hold a 54.83 percent stake in the company, while Foreign Institutional Investors hold a 4.24 percent stake. And retail investors have a 40.91 percent stake in the company.
The Company’s return on equity increased from 28.12 percent in FY22 to 42.50 percent in FY23, while the return on capital employed rose from 16.21 percent to 21.37 percent during the same period.
KPI Green Energy Ltd builds and manages solar power projects as an independent power producer and captive power producer under the Solarism brand.
Written by Omkar Chitnis
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