1:2 Bonus Share: From Rs 250 To Rs 1,400, Powerpack Green Energy Stock Rises By 440% From Lows; Wins Big Order

KPI Green Energy, a smallcap, witnessed a power-pack performance on the day it turned ex-bonus for its 1:2 bonus issue. On February 15, KPI Green froze at its 5% upper circuit limit, which meant there were several buyers but no sellers in the stock. Although the stock was over Rs 200 away from hitting its 52-week high mark, it was trading with a multi-bagger status.

This energy stock is trading higher by 440.5% from its 52-week low of Rs 260 apiece which was recorded on March 28, 2023. The stock journeyed to hit a new 52-week high of Rs 1,611.83 apiece last week, before correcting and trading near Rs 1,400 levels.

On Thursday, KPI Green shares ended at Rs 1,405.35 apiece, at 5% upper circuit.

KPI turned ex-bonus on February 15, which is also its record date to determine the eligibility of Shareholders entitled for issuance of Bonus Equity Shares.

The 1:2 bonus issue ratio means that the company will issue 1 bonus share having a face value of Rs 10 each, on every two existing equity shares having a face value of Rs 10 each.

Also, on February 15th, 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.

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.

The Company develops, builds, owns, operates and maintains Renewable power plants through as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name of 'Solarism'.'

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.

Disclaimer: The stock highlights about the bonus issue and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.