KPI Energy soars 5% on procuring 20 orders for solar power projects

The shares of KPI Green Energy shot up by 4.99 per cent at RS 1,767.50 per share on the BSE in Thursday’s intraday trade. This came as the company received as many as 20 solar power projects from different clients with an aggregate order size of 26.15 mega watts.

Sun Drops Energia, a wholly owned subsidiary of the company shall develop the projects as per the terms of the order, the company said in an exchange filing on Wednesday. 

The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order, the company’s statement said. 

KPI Green Energy, a member of the KP Group, specialises in the development, construction, ownership, management, and maintenance of renewable power facilities, including solar and wind solar hybrid power projects. 

The company reported a nearly 36 per cent increase in consolidated net profit to Rs 43.04 crore in the March quarter. The company's consolidated net profit was Rs 31.77 crore in the same period last year. 

Total revenue rose to Rs 292.96 crore during the quarter from Rs 184.41 crore a year ago. For the entire FY24, consolidated net profit increased to Rs 161.65 crore from Rs 109.62 crore in the previous year.

At 10:32 AM; the stock of the company was trading 4.70 per cent higher at Rs 1762.55 a piece. By comparison, the BSE Sensex was trading 0.99 cent higher. The stock of the company is trading at price to earnings valuation of 102.47 times.