This small cap solar power generation multibagger stock is about to announce bonus soon, watch out!
Blockbuster performance: This small cap solar power stock is about to announce bonus soon!
KPI Green Energy (KPI) is a Gujarat-based solar power-generating firm and the solar energy business arm of the KP Group. Founded in February 2008 with the goal of providing solar energy, the company develops, builds, owns, manages and maintains solar power facilities as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs).
Company continues to expand their portfolio in line with the growth of the Indian solar energy demand. With a proven track record, KPI Green Energy is committed to deliver value to its stakeholders by supplying dependable solar energy to the customers. Furthermore, it intends to deliver solutions that are adapted to the individual needs of their customers, as well as solutions that are flexible, cost-effective and hassle-free.
In FY22, the company crossed the landmark of 100 MW in the Independent Power Producer (IPP) business vertical. In the near future, the company plans to establish, own and operate a hybrid renewable energy project to produce power and sell it to consumers. Company will be establishing a number of projects in Gujarat as part of the Gujarat wind-solar hybrid policy where their expertise would be used to expand wind project capacity in hybrid power projects.
Moreover, the company is striving to reach 1,000 MW capacity by 2025, which is in line with the nation’s goal of achieving about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resource by 2030. They also aim to touch 250 MW in the IPP segment and 750 MW in the CPP segment by 2025.
In the quarter ended September 30, 2022, the consolidated net sales of the company stood at Rs 159.84 crore up by 178.32 per cent YoY. Quarterly net profit rose by 72.64 per cent YoY to Rs 21.16 crore and EBITDA jumped 120.3 per cent YoY to Rs 53.07 crore.
Talking about the stock performance, it is not less than any blockbuster movie, as on a YTD basis the stock has gained a staggering 184.48 per cent, while in the last one-year, the stock has sky-rocketed 287.60 per cent. As a result, the stock has delivered multibagger returns to its shareholders.
The most intriguing part related to the stock is that the company is about to consider the proposal for issue of bonus equity shares to the shareholders (of the company) on Wednesday, November 30, 2022. Hence, this stock should be in your watchlist!