KPI Green Energy Soars 4 Percent as Subsidiary Secures 13.30 MW Solar Project
KPI Green Energy's shares surged by up to 3.86 percent, reaching an intraday high of Rs 943 per share. This increase in share price followed the company's announcement that its wholly-owned subsidiary, Sun Drops Energia Private Limited, has secured a 13.30 MW solar power plant project.
In an exchange filing, KPI Green Energy said, “We are pleased to announce that M/s. Sun Drops Energia Private Limited, a wholly owned subsidiary of KPI Green Energy Limited, has received Letters of Intent for executing solar power projects with a cumulative capacity of 13.30 MW under the ‘Captive Power Producer (CPP)’ business segment of the company”.
The projects are set to be completed in the financial year 2024-25, in multiple phases according to the order's terms, according to the company. KPI Green's profit for the June quarter of financial year 2025 (Q1FY25) increased by 98 percent year-on-year, reaching Rs 66 crore, up from Rs 33 crore in the June quarter of financial year 2024 (Q1FY24).
The revenue from operations, or topline, rose 84 percent Y-o-Y to Rs 348 crore in the June quarter of FY25, from Rs 189.3 crore in the June quarter of FY24. At the operating front, earnings before interest, tax, depreciation and amortization (Ebitda), climbed 91 percent annually to Rs 131.7 crore in Q1FY25, from Rs 69 crore in Q1FY24.
As a result, the EBITDA margin increased by 150 basis points to 38 percent in Q1FY25, compared to 36.5 percent in Q1FY24. Additionally, the company announced its first interim dividend of Rs 0.20 per share for FY25. Founded in 2008, KPI Green Energy Ltd, a subsidiary of KP Group, specializes in renewable energy and manages the entire lifecycle of solar and wind-solar hybrid power projects.
It functions both as an Independent Power Producer (IPP) and service provider for Captive Power Producers (CPPs) under its ‘Solarism’ brand, offering development, construction, ownership, management, and maintenance services for renewable power facilities.
According to the Bombay Stock Exchange (BSE), the market capitalization of this SmallCap company stands at Rs 12,010.33 crore. The stock's 52-week high is Rs 1,116, while its 52-week low is Rs 255.46 per share. As of 9:29 AM, KPI Green Energy shares were trading 0.78 percent higher at Rs 915 per share. In comparison, the BSE Sensex was up 0.04 percent, trading at 81,728.46.
