The share price of one of the leading renewable energy companies gained 2.3 percent to Rs 1,429.85 apiece on Thursday after the company received an order to execute a 2.10 MW solar power project.
At 1:25 p.m, KPI Green Energy Ltd shares were quoted at Rs 1,410.20 per share, up 0.92 percent from the previous close price. The company has a market capitalization of Rs 5,667 crore.
The company received a new order to execute a 2.10 MW solar power project from Radhey Krishna Terene Pvt. Ltd and Jay Metal Tech under the ‘Captive Power Producer (CPP)’ Segment.
The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.
KPI Green Energy Limited along with KPIG Energia Private Limited, a wholly-owned subsidiary of the Company to develop solar power projects as per the terms of the order. The company reported in its exchange filing.
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 214 percent in a year. A shareholder investment of Rs 1 lakh in the company a year ago, would be worth Rs 3.14 lakhs.
The company’s revenue has increased by 35 percent yearly, rising from Rs 160 crore in Q2FY23 to Rs 215 crore in Q2FY24. Further, Net profit has increased by 62 percent within the same period, from Rs 21 crore to Rs 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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