A resource that produces pollution, such as fossil fuels, cannot be considered green energy. This indicates that the renewable energy business does not employ only green sources.
For example, electricity generation that burns organic material from sustainable forests may be renewable, but it is not always green owing to the CO2 released during the combustion process.
Green energy is commonly derived from renewable energy methods such as solar energy, wind power, geothermal energy, biomass, and hydroelectric power. Each of these technologies generates energy in a unique way, whether via the use of solar panels, wind turbines, or the flow of water.
Here are the three green energy stocks with a peg ratio of less than one;
Adani Green Energy Ltd
Adani Green Energy Limited (AGEL) is India’s largest and world-leading renewable energy solutions provider, facilitating the clean energy transition. AGEL creates, owns, and operates utility-scale grid-connected solar, wind, and hybrid renewable energy projects.
With a market capitalization of Rs 2.74 lakh crore, the shares were trading at Rs 1,735.20 per share, increasing around 1.20 percent as compared to the previous closing price of Rs 1,714.70 apiece. The company’s PEG ratio is reported to be 0.57
The company’s revenue decreased 40 percent from Rs. 1,584 crores in Q2FY23 to Rs 2,220 crores in Q2FY24. Further, During the same period, Net Profit increased by 148 percent from Rs 149 crores to Rs 371 crores.
Orient Green Power Company Ltd
Orient Green Power Company Limited is an independent producer of renewable power that develops, owns, and operates a diverse portfolio of wind energy power plants.
With a market capitalization of Rs 2,347.85 crore, the shares were trading at Rs 23.94 per share, increasing around 0.04 percent as compared to the previous closing price of Rs 23.93 apiece. The company’s PEG ratio is reported to be 0.36.
The company’s revenue increased 13 percent from Rs.108 crores in Q2FY23 to Rs 122 crores in Q2FY24. Further, During the same period, Net Profit increased by 120 percent from Rs 34 crores to Rs 75 crores.
K.P. Energy Ltd
KP Energy Limited is a balance of plant (BoP) solution provider in the wind energy market. The firm is involved in all stages of wind farm development, from idea to project commissioning.
With a market capitalization of Rs 2,043.16 crore, the shares were trading at Rs 919.10 per share, decreasing around 0.99 percent as compared to the previous closing price of Rs 928.25 apiece. The company’s PEG ratio is reported to be 0.11.
The company’s revenue increased 25 percent from Rs.55.34 crores in Q2FY23 to Rs 69.38 crores in Q2FY24. Further, During the same period, Net Profit increased by 26 percent from Rs 6.51 crores to Rs 8.22 crores.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
