Green Energy stock jumps marginally in the day’s trade after it secures 2 orders which includes a new order for 22.26 MWp from Aditya Birla Renewable Energy Limited and a repeat order for 2.30 MW from other companies.
At 2:38 p.m the shares of KPI Green Energy were trading at Rs. 877.55 up 0.61 percent from its previous day close price of Rs. 872.20 and its market capitalization is Rs. 3,165.34 Crores.
As per the company’s filing, KPI Green energy Limited has secured an order from Aditya Birla Renewable Energy Limited for a 22.26 MWp(Megawatt peak) Solar Power project in Gujarat on Engineering, Procurement and Construction (EPC) basis.
In addition to this, it has received repeat orders for executing solar power projects for 2.70 MW, which includes 2.30 MW from Atlantia Polyfab Pvt. Ltd. and 0.40 MW from Vineet Polyfab Pvt Ltd.
The above orders underscores its leading position in the renewable energy sector and marks a significant advancement in its ambitious objective of reaching 1000 MW by 2025 and its cumulative orders of solar power projects, till date have crossed 115+ MW following the repeat order.
The company’s revenue has increased by 179.98 percent from 229.94 Cr in FY22 to 643.79 Cr in FY23, accompanied by increasing profits of 43.25 Cr to 109.63 Cr.
The company has reported a return on equity (ROE) of 53.26 percent and return on capital employed (ROCE) of 29.71 percent, this indicates that it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’sPromoters hold 54.83 percent stake, the Domestic Institutional Investors hold 2.39 percent and the Foreign Institutional Investors (FII) hold 1.86 percent.
KPI Green Energy is renewable energy company that builds, develops, owns, operates and maintains solar and hybrid power plants through as an Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP) under the brand name of ‘Solarism’.
Written by: Bharath K.S
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