KPI Green Energy jumps 3% on securing 4 solar power projects; stock up 482% in a year

Shares of KPI Green Energy Limited traded 3.3 percent higher at Rs 1,706 in the afternoon on March 6 after the company announced securing four solar projects aggregating to 9.40 megawatts.

The company will undertake 5 MW capacity, while the remaining 4.40 MW will be undertaken by its wholly-owned subsidiary KPIG Energia Private Limited.

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“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 said in a regulatory filing on March 6. The orders have been received from Sustainable Spinning & Commodities Pvt Ltd, Sharvil Tex Fab, Dharma Fab, and Raghuveer Tex.

At 2.55 pm, the stock was trading at Rs 1,676 on NSE, up 1.6 percent from the previous close. In the last year, the stock has gained 482 percent.

In February, KPIG Energia bagged orders for 1.5 MW solar power projects under Captive Power Producer (CPP) segment from Pruthvi Textile. The project is to be completed in the financial year 2024-25.

In the December quarter, KPI Green posted a 47 percent year-on-year rise in consolidated net profit at Rs 50.60 crore, supported by higher income. The company’s total revenue surged to Rs 331.32 crore over Rs 179.66 crore a year ago.

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