Green Energy stock engaged in building, developing, owning, operating, and maintaining solar and hybrid power plants hits 5% lower circuit in the day’s trade upon posting its Q4FY24 results with a decline in Net Profit by 15 percent QoQ.
With a market capitalization of Rs. 12,080 Crores, the shares of KPI Green Energy Limited hit a 5 percent lower circuit at Rs. 2,003 from its previous day’s close price of Rs. 2,109.25.
Its revenue from operations grew by 58.64 percent YoY from Rs. 182.39 Crores in Q4FY23 to Rs. 289.35 Crores in Q4FY24 and it declined by 12.34 percent QoQ from Rs. 330.11 Crores in Q3FY24 to Rs. 289.35 Crores in Q4FY24. Annually it generated a revenue of Rs. 643.78 Crores in FY23 and Rs. 1023.90 Crores in FY24 indicating a growth of 59 percent YoY.
Its Net Profit grew by 35.47 percent YoY from Rs. 31.77 Crores in Q4FY23 to Rs. 43.04 Crores in Q4FY24 and it declined by 14.94 percent QoQ from Rs. 50.60 Crores in Q3FY24 to Rs. 43.04 Crores in Q4FY24. Annually it generated a profit of Rs. 109.62 Crores in FY23 and Rs. 161.65 Crores in FY24 indicating a growth of 47 percent YoY.
In Addition the Board of Directors of the company have recommended a Final Dividend of Rs. 0.20 per equity share of the face value of Rs.10 each for the financial year 2023-24
KPI Green Energy is a renewable energy company that builds, develops, owns, operates, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producer (CPP) under the brand name ‘Solarism’. KPI Green operates a capacity of 111 MW under this service.
KPI Green Energy has 1.23+ GW of Total business in the Pipeline till FY24, with 682+MW of orders received in Q4FY24 and it has secured 887+MW of capacity out of an ambitious target of 1000 MW by 2025.
It has reported a return on equity (ROE) of 29.6 percent and a return on capital employed (ROCE) of 21.6 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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