Introduction:
On Tuesday, August 27, 2024, KPI Green Energy’s shares saw a big jump, rising by 3.86% to hit a high of ₹943 each during the day. This big rise happened because the company said that its fully-owned child company, Sun Drops Energia Private Limited, got a very important new project.
KPI Green Energy revealed in an exchange filing that Sun Drops Energia has been awarded Letters of Intent for the execution of solar power projects with a cumulative capacity of 13.30 MW. These projects will be developed under the company’s Captive Power Producer (CPP) segment and are expected to be completed in various phases during the financial year 2024-25.
The recent project win is expected to further bolster KPI Green Energy’s position in the renewable energy sector, which has already seen impressive growth. The company’s financial performance for the June quarter of FY25 underscores this momentum,
with a remarkable 98% year-on-year increase in profit to ₹66 crore, up from ₹33 crore in the same quarter of FY24.
KPI Green Energy Shares Surge 4% After Major Solar Project Win:
Revenue from operations also surged, climbing 84% year-on-year to ₹348 crore from ₹189.3 crore. Operating performance showed a strong 91% increase in earnings before interest, tax, depreciation, and amortisation (EBITDA), reaching ₹131.7 crore compared to ₹69 crore in the previous year. This led to an expansion in the EBITDA margin by 150 basis points to 38%.
Additionally, KPI Green Energy declared its first interim dividend of ₹0.20 per share for FY25, reflecting confidence in its ongoing growth and profitability.
Established in 2008, KPI Green Energy, a subsidiary of KP Group, specializes in renewable energy, focusing on the full lifecycle of solar and wind-solar hybrid power projects. The company operates under its ‘Solarism’ brand,
providing comprehensive services including development, construction, management, and maintenance of renewable power facilities.
Conclusion:
With a market capitalization of ₹12,010.33 crore, KPI Green Energy’s shares have seen significant volatility, with a 52-week high of ₹1,116 and a low of ₹255.46. At 9:29 AM, the stock was trading 0.78% higher at ₹915 per share, outpacing the BSE Sensex, which was up 0.04% at 81,728.46.
The recent project win and strong financial performance have solidified KPI Green Energy’s positive market sentiment, highlighting its growing influence in the renewable energy sector.
FAQ:
1. What recent announcement did KPI Green Energy make?
KPI Green Energy announced that its wholly-owned subsidiary, Sun Drops Energia Private Limited, has received Letters of Intent for executing solar power projects with a cumulative capacity of 13.30 MW. These projects are set to be completed during the financial year 2024-25.
2. How did KPI Green Energy’s stock perform recently?
On August 27, 2024, KPI Green Energy’s shares jumped by 3.86% to an intraday high of ₹943 per share following the announcement of the new solar power plant project.
3. What are the key highlights of KPI Green Energy’s recent financial performance?
For the June quarter of FY25, KPI Green Energy reported:
- Profit: ₹66 crore, up 98% year-on-year.
- Revenue: ₹348 crore, an 84% increase year-on-year.
- EBITDA: ₹131.7 crore, a 91% increase year-on-year.
- EBITDA Margin: Expanded to 38% from 36.5%.
- Dividend: The company declared an interim dividend of ₹0.20 per share for FY25.
4. What is the scope of KPI Green Energy’s operations?
Established in 2008, KPI Green Energy, a subsidiary of KP Group, specializes in renewable energy projects. The company undertakes the complete lifecycle of solar and wind-solar hybrid power projects. It operates both as an Independent Power Producer (IPP) and a service provider for Captive Power Producers (CPPs) under its ‘Solarism’ brand.
5. What is KPI Green Energy’s market capitalization and stock volatility?
As of the latest update, KPI Green Energy has a market capitalization of ₹12,010.33 crore. The stock has experienced significant volatility with a 52-week high of ₹1,116 and a low of ₹255.46 per share.
6. How is KPI Green Energy’s stock performing compared to the broader market?
At 9:29 AM on August 27, 2024, KPI Green Energy shares were trading 0.78% higher at ₹915 per share, while the BSE Sensex was up 0.04% at 81,728.46.
7. When are the new solar power projects expected to be completed?
The new solar power projects awarded to Sun Drops Energia are scheduled for completion in various phases throughout the financial year 2024-25.
8. What are KPI Green Energy’s future plans?
The company plans to continue expanding its renewable energy projects and services, leveraging recent project wins and its strong financial performance to drive growth in the coming years.
9. How can investors stay updated on KPI Green Energy’s performance?
Investors can stay informed about KPI Green Energy’s performance and updates through the company’s official announcements on the Bombay Stock Exchange (BSE) and their investor relations page. Regular financial reports and press releases will provide detailed insights into the company’s activities and financial health.
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