Shares of this multibagger green energy stock jumped up to 3 percent in Monday’s trading session after bagging a solar power project aggregating to an order size of 4.20 Megawatt (MW). In the last five trading sessions, the company’s stock has gained close to 10 percent.
With a market capitalization of Rs 3,313.31 crores, the stocks of KPI Green Energy Limited opened their trading hour on Monday at Rs 881.30 and currently trades at Rs 916.95. The company’s scrip observed an intra-day high of Rs 929.25, indicating a jump of approximately 3 percent compared to the previous close of Rs 903.90 apiece.
One of the prime reasons for the company’s stock to show bullish movements is after the company, through a regulatory filing with the BSE, intimated that it has secured a 4.20MW order.
The order is with respect to solar power projects under the ‘Captive Power Producer (CPP)’ Segment of the company. The order is received from a Domestic Entity and the same has to be executed during FY23-24 in various tranches as per the terms of the order.
With addition to the above order, the cumulative orders of the company, under the CPP segment mentioned above, have crossed the 100MW mark.
Keeping a purview of just six months, the company’s stock has proven to deliver multibagger returns of approximately 110 percent, i.e., if someone had invested Rs 1 lakh in the stock six months back, it would have converted to Rs 2.10 lakhs.
The company has marginally increased the basic business parameters including the operating revenues as well as net profits during the recent financial quarters.
The operating revenues went up from Rs 182.4 crores during Q4FY22-23 to Rs 189.36 crores during Q1FY23-24, and, the net profits, keeping the timeframe the same, increased slightly from Rs 31.78 crores to Rs 33.26 crores.
As per the latest quarter ended June 2023, the company’s Promoters hold a 54.81 percent stake, and the Foreign Institutional Investors (FIIs) hold a 1.1 percent stake in the company.
Incorporated in 2008, KPI Green Energy Limited is engaged in the business of generating and supplying solar power under the brand name ‘Solarism’ in India. The company develops, builds, and operates solar power plants as an independent as well as a captive power producer.
Written by Amit Madnani
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