The shares of India’s leading solar energy solutions provider gained 10 percent to hit a 52-week high price of Rs 1,057.2 after receiving a new order for a 1.60 MW Solar Power Plant.
KPI Green Energy shares have delivered multibagger returns of 119.11 percent in the last six months and 134.10 percent in a year to date. For example, if you had invested Rs 1 Lakh six months ago in KPI Green Energy it would have been worth Rs 2.19 Lakhs today.
KPI Green Energy received a new order of 1.60 MW for executing a solar power project received by M/s. Sun Drops Energia Private Limited, which is a fully owned subsidiary of the company under the ‘Captive Power Producer (CPP)’ Segment of the Company.
The cumulative orders of solar power projects of the company have crossed 139+ MW under the Captive Power Producer (CPP) segment of the Company.
According to the company’s exchange filing, the net revenue of the company rose 34.5 percent year on year from Rs 159.8 crores in Q2FY23 to Rs 215 crores in Q2FY24. Also, the net profit rose 64.4 percent year on year from Rs 21.1 crores Q2FY23 to Rs 64.4 crores Q2FY24.
According to the recent shareholding pattern, the company promoters hold a 54.83 percent stake in the company, while Foreign Institutional Investors hold a 1.86 percent stake. domestic institutional investors hold 2.39, and the remaining lies with the public.
KPI Green Energy Limited was incorporated in February 2008, It is a Gujarat-based solar and hybrid power-generating company. The company focused on providing solar and hybrid power through different Business verticals. The Company develops, builds, owns, operates, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name ‘Solarism’.
Written by Sriram KV
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