KPI Global Infrastructure hits the roof on signing PPA with Cadila Healthcare, Organic Inds.

KPI Global Infrastructure was locked in an upper circuit of 5% at Rs 454.55 on signing new long term power purchase agreements (PPA) for the sale of 3.10 MW (AC)/ 4.12 MW (DC) solar power to two clients under its IPP segment.

The first client of KPI Global Infrastructure, Cadila Healthcare received 1.20 MW (AC)/ 1.50 MW (DC) and 0.60 MW (AC)/ 0.90 MW (DC) solar power in two separate tranches respectively. The second client was Organic Industries, purchased 3.10 MW (AC)/ 1.72 MW (DC) solar power from KPI Global Infrastructure.

In a separate announcement, KPI Global Infrastructure intimated that it has re-allocated the capacity of 1.25 MW, owing to discontinuance of Power Purchase Agreements (PPA), of M/s Vikram Nuvotech India, Surat to M/s GHCL, Bhilad against signing of PPA under Independent Power Producer (IPP) segment of the company.

On a consolidated basis, the company posted a net profit of Rs 12.26 crore in Q2 FY22 as compared to a net profit of Rs 1.38 crore reported in Q2 FY21. Net sales soared 135.9% to Rs 57.43 crore in Q2 FY22 over Q2 FY21.

K.P.I. Global Infrastructure generates and sells solar power under Solarism brand name in India. It develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer.

The scrip hit an all-time high at Rs 454.55 during intraday trade. Meanwhile, shares of Cadila Healthcare lost 0.61% to Rs 439.45 on BSE.

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