4,700 per cent returns and FIIs & DIIs increase stake: This multibagger solar power stock bags a new 3 MW solar power project order!
Shares of the company gained more than 60 per cent in the last six months.
KPI Green Energy has secured a new 3 MW solar power project order from M/s Jayco Synthetics, marking a positive step for the company in expanding its Captive Power Producer (CPP) portfolio and contributing to India's renewable energy goals.
This domestic commercial contract win comes as the Indian market witnessed a growing demand for clean energy from businesses and industries. KPI Green appears to be capitalizing on this trend by focusing on the CPP segment, which caters to this specific need.
Also read, Top 5 Important Ratios to Unlock Stock Investment Success
The company's commitment to renewables has also been rewarded by its shareholders. KPI Green Energy's stock has delivered multibagger returns in the last year, surging from Rs 456.38 on January 5, 2023, to Rs 1423.35 on January 5, 2024, a remarkable 200 per cent increase.
Furthermore, KPI Green Energy has demonstrated strong financial performance. In Q2FY24, the company's consolidated revenue grew by 34.55 per cent year-over-year to Rs 215.07 crore, while its operating profit and PAT stood at Rs 72.04 crore and Rs 34.74 crore, respectively, showcasing significant improvement compared to the previous year's corresponding quarter. The company has also delivered multibagger returns of over 4,700 per cent in the last three years. FIIs and DIIs increased their stake in the company in December 2023 respectively.
KPI Green Energy is a leading solar power generating company in India. The company operates under the brand name "Solarism" and provides solar power solutions to both Independent Power Producers (IPPs) and Captive Power Producer (CPP) customers.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.