KPI Green Energy shares Reach 52-Week High Due to Surge in Solar Power Orders

KPI Green Energy shares reach a new 52-week high of Rs 1,263.25 at the start of trading on November 28. The surge followed the announcement that its subsidiary, Sun Drops Energia Private Limited, secured new orders for solar power plants.

According to the regulatory filing, the wholly-owned subsidiary received orders totaling 4.66 megawatts from GVM Woven and Radhika Silk Mills for solar power projects in the Captive Power Producer segment. These orders are slated for commissioning in various tranches during the fiscal year 2024-2025.

The company stated, “We are pleased to announce that, with the addition of the mentioned order, our cumulative orders for solar power projects have now surpassed 143+ MW under the CPP segment.”

In the quarterly report for July-September, the company disclosed a substantial 57% year-on-year increase in consolidated net profit, reaching Rs 34 crore for the reviewed quarter. The consolidated revenue from operations also exhibited robust growth, marking a 43% year-on-year increase to Rs 215 crore compared to the same quarter in the previous fiscal year.

As of 12:00 0 pm, shares of KPI Green Energy were trading 0.72% higher at Rs 1,223.65 on NSE.”

Business Overview: 
Company provides solar power, both as
an independent power producer (IPP) and Engineering, Procurement, Construction (EPC) services to Captive Power producers(CPP) customers. Company runs its entire business from its Bharuch plant. Currently, company has an installed capacity of 100 MW of solar power under IPP segment and 100 MW+ of EPC/CPP projects

 

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