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KPI Green Energy's Subsidiary Secures 13.30 MW Solar Project Orders

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Synopsis:

KPI Green Energy's subsidiary, Sun Drops Energia, secures orders for 13.30 MW solar projects under CPP. The company posted a two-fold rise in net profit for Q1 FY25, with revenue at ₹349.85 crore. KPI Green Energy’s share price rose 189% over the past year.

KPI Green Energy News Today

KPI Green Energy Limited’s wholly-owned subsidiary, Sun Drops Energia Private Limited, has received Letters of Intent (LoIs) for the execution of solar power projects with a total capacity of 13.30 MW under the Captive Power Producer (CPP) segment.

The projects, awarded by Radhika Fabrics, Sumicot Ltd, Sanjopin Industries Private Ltd and Ekta Prints Private Ltd, will be developed in tranches with completion expected within the current financial year (FY25).

Financial Performance and Dividend Announcement

For the June quarter of FY25, KPI Green Energy reported a two-fold increase in consolidated net profit, reaching ₹66.11 crore, compared to ₹33.26 crore in the same quarter of the previous fiscal year.

The significant profit rise was driven by higher income, with total revenue climbing to ₹349.85 crore from ₹190.56 crore year-over-year.

In addition to the robust financial performance, the company's board approved an interim dividend of 0.20 paisa per equity share with a face value of ₹5 each for FY25. The record date for the dividend was August 21, 2024.

KPI GREEN ENERGY LIMITED

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792.7-7.04 (-0.88 %)

Updated - 13 December 2024
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KPI Green Energy Share Price Performance

On August 26, 2024, KPI Green Energy's share price closed at ₹908, reflecting a 2.04% decline. Despite the dip, the stock has delivered an impressive 189.08% return over the past 12 months, marking substantial growth and increasing investor wealth.

About KPI Green Energy

Headquartered in Gujarat, KPI Green Energy Limited, formerly known as KPI Global Infrastructure Ltd, is a prominent renewable power generation company. The firm continues to expand its portfolio in the renewable energy sector, with solar power projects being a key focus under the CPP segment.

The company had recently raised funds via QIP at a floor price of ₹983.24 per share to support its operations and future growth.

Key Takeaways

KPI Green Energy's latest project wins and solid financial performance highlight the company's growing presence in the renewable energy sector. As it continues to secure significant orders and deliver strong financial results, the KPI Green Energy share price remains a focal point for investors, reflecting the company's growth trajectory.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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