887% Rally In 2-Yrs: Power Sector Stock Hits 52-Week High On Order Win, Q2 PAT Up 57%

Shares of power sector company KPI Green Energy hit fresh 52-week high today after it informed BSE about receiving new orders. Current market price of KPI Green Energy share on BSE is Rs 1213.00 per share. KPI Green Energy stock gained 169% year-to-date and soared 887% in last 2-years. Check details below:

KPI Green Energy Bags Orders: According to the BSE filing of the company dated November 24, 2023, "we are glad to inform that new orders of 4.66 MW for executing solar power projects received by M/s. Sun Drops Energia Private Limited, a wholly owned subsidiary of the Company under 'Captive Power Producer (CPP)' Segment of the Company. We are glad to inform you that, with addition of the order mentioned above, our cumulative orders of solar power projects, till date have crossed 143+ MW under 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.

KPI Green Energy Stock Performance & Return: Last trading price of KPI Green Energy share on BSE is Rs 1213.00 per share. The stock's 52-week high price is Rs 1264.95 per share and 52-week low price is Rs 378.48 per share, respectively. Its market capitalisation is Rs 4,383.05 crore. KPI Green Energy share gained 145% in last 6-months, jumped 169% YTD, rose 168% in last 1-year, and offered shareholders return of 887% in last 2-years. KPI Green Energy shares BSE offered return of 4520.95% in last 3-years.

KPI Green Q2 Results: KPI Green Energy declared its consolidated profit after tax (PAT) jumped 57% year-on-year (YoY) to Rs 34 crore for the quarter ended September 30, 2023 of the fiscal year 20203-24. KPI Green Energy also approved an interim dividend of 2.5% on Monday i.e. Re 0.25 paise per equity share of the face value of Rs 10/- each. The company for the quarter ended September 2023 announced its consolidated revenue from operations soared 43% YoY to Rs 215 crore as compared to Rs 159 crore declared in the corresponding period of last quarter. Total income rose 44% YoY to Rs 216 crore in Q2FY24 from Rs 160 crore announced in Q2FY23. Its earnings before interest, tax, depreciation, and amortisation (Ebitda) jumped 49% YoY to Rs 72 crore in Q2 FY24.

KPI Green Energy Q2 Interim Dividend: According to the BSE filing of the company issued on October 9, 2023, "Considered, approved and declared Interim Dividend at 2.5% i.e. Re. 0.25 (Twenty-Five Paisa Only) per equity share having face value of Rs. 10/- each, on the equity share capital of the Company for the financial year 2023-24. The Record date for payment of this interim dividend is October 20, 2023 as per our earlier intimation dated October 3, 2023. The Dividend shall be paid within 30 days from the date of its declaration to the shareholders whose name appears in the Register of Members as on the Record date."

KPI Green About: KPI Green Energy Limited (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 service provider to Captive Power Producer (CPP) under the brand name of 'Solarism', according to its official website.

Disclaimer: The stock just highlights the rally in shares after order win 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.