KPI Green Energy announced on Monday that it has received new orders to develop solar power projects aggregating to 24.90 Megawatt (MW) capacity. As a result, its shares were trading in the green at ₹ 914.70 apiece at 01:13 PM on Tuesday. It is a small-cap company with a market capitalization of ₹ 1624 crores.
The company develops, operates, and maintains captive solar power projects for its clients. In addition, it is a power producer and sells solar energy under the Solarism brand in Gujarat.
Solar Power Projects
Seven entities that awarded the contract to the company are Creative Technologies, General Polytex, General Petrochemicals, Savalia Texturisers, Rushabh Wire Industries LLP, Rajputana Stainless, and VD Global. Following this order, the total cumulative capacity of the solar power projects under both the Captive Power Producer (CPP) and Independent Power Producer (IPP) segments will reach 63.66 MWp.
The company said that it will be developing the project through its wholly-owned subsidiaries KPIG Energia Pvt. Ltd. and Sundrops Energia Pvt. Ltd. It has commissioned 38.76 MWp solar power projects under both CPP and IPP segments, through its subsidiaries. The entire capacity is scheduled to be completed by March 31, 2023, in various tranches. However, the execution of the development works has commenced at the site.
Last month, the company commissioned a 5.40 MW captive solar power project for its client Anupam Rasayan India Ltd. It received another order for captive power from Isha Prints LLP, earlier this month to build a solar power plant capable of generating 1.10 MW of energy.
Bonus Issue
KPI Green Energy, a small-cap company, informed the exchanges that its board has set Wednesday, January 18, 2023, as the record date for a 1:1 bonus issue. The company will be issuing one new fully-paid up equity share of ₹ 10 each for every share of ₹10 held by the members of the company as of the record date.
Multibagger Returns
KPI Green Energy has given multibagger returns of 174.70% in the past year. Therefore if an investor would have invested ₹ 1 lakh in the company’s shares one year ago, the value of their holdings would have been ₹ 2.75 lakhs.
In fact, it has given multibagger returns of 2249.10% in the past three years. Therefore if an investor would have invested ₹ 1 lakh in the company’s shares three years ago, the value of their holdings would have been ₹ 23.49 lakhs today!
Written by Simran Bafna
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