KPI Green Energy surges 10% on receiving the biggest solar power project order

Trending Company

by 5paisa Research Team Last Updated: 2022-07-06T12:41:56+05:30

The solar power producer announced in a press release on July 5 that it has bagged the biggest order to execute solar power projects of 26.60 MWdc. 

The orders are received from M/s Nouveau Jewellery LLP of 23.60 MWdc capacity and from M/s Nouveau Diamonds Manufacturing India LLP of 3MWdc capacity under 'Captive Power Producer (CPP)' segment of the company.  

KPI Green Energy provides solar power, both as an independent power producer (IPP) and provides Engineering, Procurement, and Construction (EPC) services to Captive Power producers (CPP) customers. CPP involves developing, transferring, operating & maintaining grid-connected solar power projects on behalf of CPP customers for their captive consumption.  

On receiving a CPP order of such magnitude, the shares of KPI Green Energy zoomed at the bourses. The shares of KPI Green logged an intra-day high of Rs 744.70 against the previous close of Rs 674.40, gaining 10.4%.  

Notwithstanding weak market sentiments, shares of KPI Green Energy have been gaining positive momentum on the bourses as it logged a fresh 52-week high on June 20 at Rs 761. In last one month, the stock has surged 45% while in six months it has risen 88%.  

The company has shown tremendous growth in revenue from Rs 35crores in 2019 to Rs 230 crore in 2022 growing at a CAGR of 87%. Similarly, the Net profit has shown a CAGR of 93% during the same period from Rs 15.4 crore to Rs 115.4 crore  

The company’s share price is currently trading at a TTM P/E of 28.21x times, enjoying a market capitalization of Rs 1220 crore. Shares of KPI Green Energy have logged 52-week high and low of Rs 761 and Rs 88, respectively.  

At noon, shares of KPI Green were quoting at Rs 734.05 up 8.84% or Rs 59.65 per share. 

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