The shares of the small-cap company jumped 3 percent after receiving an order from multiple companies to execute a solar power project. On a YTD basis, the shares have delivered a multibagger return of 157 percent to its shareholder.
With a market capitalization of Rs. 4,949 crores, the shares of KPI Green Energy Ltd started Friday’s trading session on a higher note at Rs. 1,340.55 compared to its previous close of Rs. 1,291. The shares hit a high of Rs. 1,349, gaining around 3 percent and currently trading at Rs. 1,323 apiece.
Such a positive movement was observed after the company in an exchange filing mentioned that their wholly-owned subsidiary KPIG Energia Private Limited had received orders of 1.80 MW for executing solar power projects from Radhamohan Dyeing and Printing Mills Pvt. Ltd under the ‘Captive Power Producer (CPP)’ Segment of the Company.
In addition to the order mentioned above, the company’s cumulative orders of solar power projects, to date have crossed more than 151 MW under the CPP segment of the Company.
Having a look at the latest financial statements published by the company, the operating revenues as well as net profits have shown positive movements.
The revenue increased by around 14 percent from Rs. 189 crores in the June quarter to Rs. 215 crores in the September quarter. Furthermore, the net profit increased by 6 percent from Rs. 33 crores to Rs. 35 crores during the same timeframe.
Previously, the company had bagged the single largest order of Hybrid CPP of 145.20 MW and also won a 240 MW DC bid from GUVNL under the IPP Segment. With these, the total order book on hand at the gross level stands at 541 plus MW. The company aims to reach 1000 MW by 2025.
Headquartered in Gujrat, KPI Green Energy Ltd was incorporated in 2008. The company provides solar power, both as an independent power producer (IPP) and Engineering, Procurement, and Construction (EPC) services to Captive Power producers(CPP) customers.
Written By Vaibhav Patil
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