The share price of one of the leading renewable energy firm hit a 10% upper circuit to its 52-week high price of ₹1,823.80 apiece on Wednesday after the company received an order to execute a 5MW solar power project.
At 11:45 a.m., on Wednesday’s trade KPI Green Energy Ltd shares hit a 10% upper circuit and the company has a market capitalization of ₹7,329 crores.
According to the company’s exchange filing, KPI Green Energy subsidiary KPIG Energia Private Limited received an order to execute a 5 MW solar power project from Skywin Paper Industries Private Limited under the ‘Captive Power Producer (CPP)’ Segment.
The project is expected to be completed in the financial year 2024-25, in various tranches as per the terms of the order.
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 shares have delivered a multibagger return of 210 percent in a year. A shareholder investment of Rs 1 lakh in the company a year ago, would be worth Rs 3.10 lakhs.
The company’s revenue has increased by 35 percent yearly, rising from ₹160 crore in Q2FY23 to ₹215 crore in Q2FY24. Further, Net profit has increased by 62 percent within the same period, from ₹21 crore to ₹ 35 crore.
KPI Green Energy Ltd builds and manages solar power projects as an independent power producer and captive power producer under the Solarism brand.
In the recent quarter, the Company received the single largest order of Hybrid CPP of 145.20 MW and has also won a 240 MW DC bid from GUVNL under the IPP Segment. With these, the total order book on hand at gross level stands at 541+ MW.
Written by Omkar Chitnis
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