News

Published: August 27, 2024
Updated: August 27, 2024

KPI Green Energy Shines Bright: 4% Surge on Solar Power Project Win

Solar Power Project Win

KPI Green Energy's shares rallied 3.86% to an intraday high of Rs 943 per share after its subsidiary, Sun Drops Energia Private Limited, secured a 13.30 MW solar power plant project.

Project Details

The project falls under the 'Captive Power Producer (CPP)' business segment and is scheduled for completion in the financial year 2024-25. The company expressed pleasure in announcing the project, highlighting its commitment to renewable energy.

Financial Performance

KPI Green Energy's financial performance has been impressive, with a 98% year-on-year (Y-o-Y) rise in profit to Rs 66 crore in Q1FY25. Revenue from operations also rose 84% Y-o-Y to Rs 348 crore, while Ebitda climbed 91% annually to Rs 131.7 crore.

Company Overview

Established in 2008, KPI Green Energy operates as a subsidiary of KP Group, specializing in renewable energy. The company undertakes the complete lifecycle of solar and wind solar hybrid power projects, functioning as an Independent Power Producer (IPP) and service provider for Captive Power Producers (CPPs).

Market Performance

KPI Green Energy's market capitalization stands at Rs 12,010.33 crore, with a 52-week high of Rs 1,116 and a 52-week low of Rs 255.46 per share. The stock was trading 0.78% higher at Rs 915 per share, outperforming the BSE Sensex.

KPI Green Energy's win of the solar power project and impressive financial performance have contributed to its stock price surge. As the company continues to shine bright in the renewable energy sector, investors may be eager to watch its future growth prospects.