KPI Green Energy shares rise 3% after ₹696.5-crore order win from SJVN

KPI Green Energy shares rose 3 per cent after it bagged orders worth ₹696.5 crore from SJVN for a 200 Mw solar power project

Shares of KPI Green Energy rose nearly 3 per cent on Friday after the company bagged orders worth ₹696.50 crore from SJVN Ltd. for a 200 Megawatt (Mw) (AC) solar power project. 

 

The power generation stock rose as much as 2.8 per cent during the day to ₹472.9 per share, the biggest intraday rise since October 16 this year. The stock pared gains to trade 1.8 per cent higher at ₹468.9 apiece, compared to a 0.50 per cent advance in Nifty 50 as of 10:57 AM. 

 

Shares of the company rose for the second straight session and were trading at the highest level since September 26 this year. The counter has fallen 14 per cent this year, compared to an 8.8 per cent advance in the benchmark Nifty 50. KPI Green has a total market capitalisation of ₹9,221.75 crore. 

KPI Green Energy bags solar project from SJVN

KPI Green Energy received three Letters of Award (LoAs) from state-run SJVN Ltd. for a 200 Mw alternating current (AC) solar power project at the GIPCL Renewable Energy Park in Khavda, Gujarat. The project involves a full-scope engineering, procurement and construction (EPC) package, followed by a long-term operation and maintenance (O&M) contract. 

 

According to the company’s exchange filing, the first contract worth ₹486.89 crore covers the supply of all plant and equipment at the site, while the second contract valued at ₹178.27 crore pertains to erection, testing, commissioning, and civil and structural works. The third contract, worth ₹31.34 crore, is for comprehensive O&M services for three years from the commercial operation date. 

 

With the ongoing 645 MWp solar cluster and the new 200 Mw AC project, the group’s total portfolio at Khavda will exceed 845 MWp (DC), reinforcing its position as a leading developer and EPC provider in the region. "The award from an esteemed Central Public Sector Enterprise like SJVN is a testament to our proven execution capabilities and reliability in delivering large-scale solar projects."

KPI Green Energy Q1 results

KPI Green Energy posted over 68 per cent jump in its net profit to ₹111.32 crore for the June quarter, driven mainly due to higher revenues. Profit After Tax (PAT) reached ₹111.32 crore, registering a 68 per cent increase from ₹66.11 crore. The company's total revenue stood at ₹614.12 crore, up 75 per cent from ₹349.85 crore a year ago.