2,600 per cent returns: Multibagger power company receives commissioning certificate for wind-solar project from Gujarat Energy Development Agency!
The stock gave multibagger returns of 115 per cent in just 1 year whereas BSE Sensex Index is up by 10.44 per cent.
KPI Green Energy Ltd informed that the company have received commissioning certificates from the Gujarat Energy Development Agency (GEDA) for a 4.10 MW wind-solar hybrid power project comprising 2.10 MW wind and 2 MWdc solar capacity, being the company’s own power-generating asset portfolio, at Samoj site in Jambusar, District Bharuch, Gujarat, under the Gujarat Wind-Solar Hybrid Power policy 2018.
The company has made necessary arrangements for selling the power generated out of this wind-solar hybrid power project to Commercial and Industrial (C&I) clients.
KPI Green Energy Ltd provides solar power, both as an independent power producer (IPP) and Engineering, Procurement and Construction (EPC) services to Captive Power producers (CPP) customers. The company has a market cap of over Rs 3,100 crore.
According to the Quarterly Results, the net sales increased by 54.79 per cent to Rs 189.36 crore and the net profit increased by 49.59 per cent to Rs 33.26 crore in Q1FY24 compared to Q1FY23. The net sales increased by 179.98 per cent to Rs 643.79 crore and the net profit increased by 153.5 per cent to Rs 109.63 crore in FY23 compared to FY22.
On Thursday, shares of KPI Green Energy Ltd surged 0.72 per cent to Rs 866.25 per share with an intraday high of Rs 873.50 and an intraday low of Rs 861.60s.
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The shares of the company have a PE of 25.9x, an ROE of 53.4 per cent and a ROCE of 24.7 per cent. The stock gave multibagger returns of 115 per cent in just 1 year whereas BSE Sensex Index is up by 10.44 per cent. Furthermore, the stock generated 1,300 per cent in 2 years and 2,600 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.