Shares of Leading Renewable Energy Solution Provider surged 5 percent to Rs 600.25 per share after the company received a 23.1 MW wind-solar hybrid power project deal from an Aditya Birla Group company.
At 2:40 p.m., K. P Energy shares were trading at Rs 592.20 on the Bombay Stock Exchange, up 3.59 percent from the previous close price. The company has a market capitalization of Rs 1,316 crore on the stock exchange.
According to the K P Energy Exchange Filing, Aditya Birla Renewable Energy Limited awarded the Company a new order for the development of a 23.1MW wind capacity Balance of Plant as part of the wind-solar hybrid power project (comprising 23.1MW wind and 11MW Solar) to be connected to the existing 140 MW power evacuation facility at Fulsar PSS.
The project includes the installation of 11 Nos of Suzlon wind operated electricity generators and KP Energy will be responsible for providing a range of services, including Engineering, Procurement, Construction, and Commissioning (EPCC) for the project.
The Company’s return on equity increased from 22.56 percent in FY22 to 34.15 percent in FY23, while the return on capital employed rose from 16.26 percent to 33.30 percent during the same period.
K P Energy’s revenue has fallen by 10 percent year on year, from Rs 124 crore in Q1FY23 to Rs 112 crore in Q1FY24. During the same year, the company’s net profit grew by 66 percent, from Rs 9 crore to Rs 15 crore.
The company’s stock has delivered returns of 245 percent in six months and 189 percent over a year. A shareholder’s investment of Rs. 1 lakh in the business would be worth Rs. 2.89 lakhs after a year and Rs. 3.45 lakhs after a half-year.
According to the recent shareholding pattern, the company promoters hold 44.8 percent of the company, while retail investors hold a 54.94 percent stake.
K.P. Energy Limited is engaged in the operation of solar and wind energy projects in India. The company engages throughout the development process of wind farms, right from conceptualization until the commissioning of the project.
Written by Omkar Chitnis
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