Synopsis:
KPIG Energia, a subsidiary of KPI Green Energy, has secured a Letter of Award from Aditya Birla Renewables to develop a 64 MWac / 96 MWp Solar BoS power plant in Mahua, Gujarat.
The shares of one of the leading renewable energy company, specializing in the development, operation, and maintenance of renewable power facilities, are in focus upon receiving LoA (Letter of Award) from Aditya Birla Renewables Ltd to develop a Solar Balance of System power plant.
With a market capitalization of Rs. 10,251.87 crores on Thursday, the shares of KPI Green Energy Limited declined by upto 2.2 percent, making a low of Rs. 519.50 per share compared to its previous closing price of Rs. 531.45 per share.
KPI Green Energy Limited has announced that its wholly owned subsidiary, KPIG Energia Private Limited, has received a Letter of Award (LOA) from Aditya Birla Renewables Limited for the development of a 96 MWp (64 MWac) Solar Balance of System (BoS) power plant at Mahua, Gujarat.
The project scope includes design, engineering, procurement, transportation, installation, testing, synchronization, and commissioning of the solar plant. This domestic order is part of KPI Green’s strategic roadmap toward achieving a 10 GW capacity by 2030 and demonstrates continued confidence in its ability to execute large-scale renewable projects.
Financilas & Others
The company’s revenue rose by 75.5 percent from Rs 349.85 crore to Rs 614.12 crore in Q1FY25-26. Meanwhile, Net profit rose from Rs 66.11 crore to Rs 103.95 crore during the same period.
The company appears to be fundamentally strong with a P/E ratio of 29.25, which is lower than the industry average of 44.87, and a very low PEG ratio of 0.12, indicating potential undervaluation. It maintains a healthy financial position with a low debt-to-equity ratio of 0.57.
Along with it, the company has delivered solid performance with an average ROE of 27.61% and ROCE of 15.39% over the past 3 years. Additionally, it has shown impressive growth, with an average 3-year revenue and net profit growth of 64.52% and 55.20%, respectively.
KPI Green Energy Limited is a leading renewable energy company based in Gujarat, India, and is part of the KP Group. Incorporated in 2008, the company develops, owns, and operates solar and hybrid (solar-wind) power plants under the brand name ‘Solarism’.
As of Q1FY26, KPI Green Energy boasts over 3 GW of orders in hand and an installed capacity exceeding 1GW. The company has developed a power evacuation capacity of more than 3.2 GW and holds a land bank of 6,275+ acres. Looking ahead, KPI Green Energy has set an ambitious target to achieve over 10 GW of capacity by 2030.
KPI Green Energy has attracted marquee investors, including prominent financial institutions such as BlackRock, Goldman Sachs, BofA Securities, HSBC, and Citigroup. Other notable investors include Eminence Global Fund, ITI Value Fund, Citadel Capital Fund, SBI General Insurance, and others.
It operates primarily in two segments: Independent Power Producer (IPP) and Captive Power Producer (CPP). In IPP, the company generates clean, renewable energy through strategically located plants, supplying power to businesses via Power Purchase Agreements (PPAs).
In the CPP segment, KPI specializes in developing and managing grid-connected solar and hybrid power projects tailored to meet specific customer needs, helping companies reduce electricity costs.
Written by Sridhar J
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