1:2 Bonus Issue: After Giving 471% Return, Rs 1,480 Green Energy Stock Announces Allotment Of Bonus Shares

KPI Green Energy has witnessed robust upside amidst its ex-bonus and record date dates for bonus issue in the ratio of 1:2. Trading at nearly Rs 1,480 apiece, KPI Green is a multibagger with upside of 155% in six months. The stock will be further in focus as it announced its allotment of bonuses for investors.

Last week, on Friday, KPI Green's share price ended at Rs 1,479.15 apiece, at its 5% upper circuit with market cap of Rs 8,916.70 crore. This meant that there were several buyers but not sellers that day.

The stock is moving towards its 52-week high of Rs 1,618.71 apiece. While currently it trades up by nearly 471% from its 52-week low of Rs 259.16 apiece.

KPI Green turned ex-bonus on February 15 for its bonus issue 1:2 -- meaning -- 1 new bonus share on existing two equity shares. The face value remains the same at Rs 10 each.

In its regulatory filing on February 16, KPI Green said, the board of directors have approved the allotment of 2,00,94,203 (Two Crores Ninety-Four Thousand Two Hundred and Three) equity shares having face value of Rs.10/- each as bonus equity shares, in the ratio of One (1) equity share having face value of Rs. 10/- each for every Two (2) existing equity share having face value of Rs. 10/- each, to the Members whose names appeared in the Register
of Members/List of beneficial owners as on February 15, 2024, being the record date fixed for that purpose.

Consequently, KPI Green said, the paid-up equity share capital of the Company stands increased from Rs. 40,18,84,050/- (Rupees Forty Crores Eighteen Lakhs Eighty-Four Thousand and Fifty only) comprising 4,01,88,405 (Four Crores One Lakh Eighty-Eight Thousand Four Hundred and Five) Equity Shares of Rs. 10/- each to Rs. 60,28,26,080/- (Rupees Sixty Crores Twenty-Eight Lakhs Twenty-Six Thousand and Eighty only) comprising 6,02,82,608/- (Six Crores Two Lakhs Eighty-Two Thousand Six Hundred and Eight) equity shares of Rs. 10/- each.

The new Bonus Equity shares allotted shall rank pari-passu in all respects with the existing Equity Shares in the Company. The requisite compliances with respect to credit of Bonus Equity Shares in the demat accounts of the Shareholders shall be completed in due course, it said.

Also, last week, the company bagged a new order of f 1.5 MW for executing solar power projects have been received by M/s. KPIG Energia Private Limited, is a wholly-owned subsidiary of the Company under the 'Captive Power Producer (CPP)' Segment of the Company. The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.

Meanwhile, the company's Q3 earnings were also healthy. In the December 2023 quarter, the company earned a consolidated net profit of Rs 50.60 crore compared to a profit of Rs 34.45 crore in Q3FY23 and Rs 34.74 crore in Q2FY24. Consolidated revenue from operations stood at Rs 330.11 crore in Q3FY24, versus Rs 179.21 crore in Q3FY23 and Rs 215.06 crore in Q2FY24.

KPI Green Energy (Formerly known as K.P.I. Global Infrastructure Limited), is the Renewable vertical of KP Group and a prominent Gujarat-based Renewable power generating company. Incorporated in February 2008, focused on providing Renewable power through different Business verticals.

Under the brand name of "Solarism" the company is on a sprint to achieve the humongous task of 1000+ MW in solar energy by 2025. The company has lately entered into the Hybrid energy solution provider vertical and has already achieved 198+ MW as orders in hand and 54+ MW Capacity already Energized as of Q3FY24.