Shares of this small-cap green energy company were on the rise to touch its 52-week high on Friday post signing a contract for a wind-solar hybrid project.
With a market capitalization of Rs 3,331.01 crores, the stocks of KPI Green Energy Limited are currently trading at Rs 921.85. The company’s scrip witnessed an intra-day high, also marked as the new 52-week high, of Rs 935 indicating a gain of around 8 percent compared to the previous closing levels of Rs 866.25 apiece.
One of the probable reasons for the stock prices to surge on Friday is pertaining to a wind-solar hybrid power project bagged by the company.
The company received an order for a total of 4.10 MegaWatts (MW) from the Gujarat Energy Development Agency (GEDA) comprising 2.10 MW wind and 2MW solar power.
During the last six months period, the company’s stock has successfully been able to deliver multibagger returns of 114 percent, i.e., if someone had invested Rs 1 Lakh into the company’s stock, it would have converted to Rs 2.14 Lakhs within a period of six months.
The company’s financial performance during the recent quarters has been positive with the operating revenues going up from Rs 182.4 crores during Q4FY22-23 to Rs 189.36 crores during Q1FY23-24. Moreover, the after-tax profits went up from Rs 31.78 crores to Rs 33.26 crores keeping the timeframe the same.
Looking at the company’s shareholding pattern as of the June 2023 quarter, the Promoters hold a 54.81 percent stake. Moreover, Foreign Institutional Investors (FIIs) increased their stake from 0.16 percent during the March 2023 quarter to 1.1 percent during the June 2023 quarter.
KPI Green Energy Limited is a company based in India that is engaged in the business of generation of solar power. The company builds, operates & maintains solar power plants as Captive Power Producers (CPP) and Independent Power Producers (IPP) under the brand name “Solarism”.
Written by Amit Madnani
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