The Shares of a leading renewable energy supplier rose 3 percent to Rs 849 apiece on Tuesday after the company received a new order for the development of a 6.90 MW Wind-Solar Hybrid Power Project.
At 1:25 p.m., KPI Green Energy Ltd shares were trading at Rs 840 a share on the National Stock Exchange, up Rs 17.10 or 2.08 percent. The company has a market capitalization of Rs 3,049 crores.
According to a company exchange filing, KPI Green Energy received a new order for executing the Wind-Solar Hybrid Power Project for 6.90 MW capacity comprising 4.90 MW wind and 2 MW solar capacity from M/s. General Polytex Pvt. Ltd., Surat under ‘The Captive Power Producer Segment of the Company. The projects are scheduled to be completed in the financial year 2023-24, in various tranches as per the terms of the order
KPI Green Energy Ltd shares have gained returns of 98 percent in a year and 97 percent in six months.
The company’s revenue has increased by 55 percent year on year, rising from Rs 122 crore in Q1FY23 to Rs 189 crore in Q1FY24. Further, Net profit climbed by 50 percent within the same time period, from Rs 22 crore to Rs 33 crore.
According to the recent shareholding pattern, the company promoters hold a 54.81 percent stake in the company, while Foreign Institutional Investors hold a 3.48 percent stake.
In the recent financial year, the company reported a net profit margin of 17.02 percent and an operating margin of 29.37 percent.
KPI Green Energy Ltd builds and manages solar power projects as an independent power producer and captive power producer under the Solarism brand.
Written by Omkar Chitnis
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