Shares of this smallcap company jumped around 3 percent in Thursday’s trading session after announcing bonus shares in the ratio 1:2. In just one year, the shares have delivered a whopping 433 percent returns to its shareholders.
With a market capitalization of Rs. 11,612 crores, the shares of KPI Green Energy Ltd started Thursday’s trading session on a higher note at Rs. 1,919.95 compared to its previous close of Rs. 1,884.60. During the trading session, the shares hit a high of Rs. 1,974.80, gaining around 3 percent and are currently trading at Rs. 1,927.90 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that they had decided to split existing equity shares of the company from one equity share having a face value of Rs. 10 each, fully paid up into 2 equity shares having face value of Rs. 5 each fully paid-up. This is the first stock split undertaken by the company.
Previously, this year, KPI Green Energy had issued one bonus share for every two held. In 2023, the company also issued one free share for every one held.
Coming onto the company’s financial statements, the revenue decreased by 12 percent from Rs. 330.12 crores during the December quarter to Rs. 289.36 crores in the March quarter. On the other hand, the net profits declined by 15 percent from Rs. 50.61 crores to Rs. 43.04 crores duirng the same timeframe.
In Q4FY24, KPI Green Energy reported a total order book surpassing 682 MW, with an additional 1,234 MW of orders in the pipeline. Furthermore, the company has established an ambitious goal of reaching 1 GW in capacity by 2025.
Additionally, during the year, major CPP orders were bagged by the company from Aditya Birla Renewables Subsidiary Limited and ABREL (RJ) Projects Limited for 396.50 MWDC, Maharashtra State Power Generation Co. Ltd. (MAHAGENCO) for 135 MWDC.
Furthermore, the KP Group has signed two MoUs with the Government of Gujarat, committing to invest Rs. 17,690 crores in the state.
Moreover, KPI Green Energy is investing in the development of robotics for waterless cleaning and using innovative technologies like bifacial glass-to-glass solar panels and single-axis sun trackers to optimize energy generation.
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 19.34 percent and a return on capital employed (RoCE) of 19.68 percent for the period spanning FY23-24.
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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