On Friday, this small-cap stock hit a 5% upper circuit to reach an intraday high of ₹ 1,475.60 per share after its subsidiary secured a 1.5 MW solar power project.
With a market capitalization of ₹8,916.70 crores, KPI Green Energy Limited saw a surge in its share of 5 percent. During today’s trading session, the stock reached an intraday high of ₹1,475.60 and previously closed at ₹1,405.35.
As per the company’s exchange filing, KPIG Energia Private Limited, a wholly owned subsidiary of KPI Green Energy Limited, under the ‘Captive Power Producer (CPP)’ segment, received a new order of 1.5 MW for the execution of a solar power project. The project is expected to be completed in FY 24-25
The revenue from operations of ‘KPI Green Energy Limited’ on a YoY basis has increased by 84 percent from ₹179 crores in Q3 FY23 to ₹330 crores in Q3 FY24, and in the same period, the net profits increased by 50 percent from ₹34 crores to ₹51 crores.
On the other hand, the QoQ revenue from operations increased by 53 percent from ₹215 crores in Q2 FY24 to ₹330 crores in Q3 FY24, and in the same period, the net profits increased by 46 percent from ₹35 crores to ₹51 crores.
The stock has delivered a multibagger return of 154 percent returns in six months and 387 percent returns in one year. For example, a shareholder’s investment of ₹1 lakh in the company a year ago would now be worth ₹4.87 lakh.
It also delivered a return on capital employed (ROCE) of 19.5 percent and a return on equity (ROE) of 41.3 percent.
As of Q3 FY24, the company’s shareholder pattern shows 53.08 percent ownership by the promoters, followed by 5.96 percent ownership by foreign institutional investors (FIIs), 2.09 percent ownership by domestic institutional investors (DIIs), and the remaining 38.86 percent owned by the public.
KPI Green Energy Limited, a Gujarat-based renewable power generation company incorporated in February 2008, focuses on providing renewable power through different business verticals. The company engaged in the development, construction, ownership, operation, and maintenance of renewable power plants both independently as an independent power producer (IPP) and as a service provider to captive power producers (CPP), operating under the brand name ‘Solarism’.
Written By Praveen R
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