Renewable Energy Company Bags 620 MWAC from GUVNL for Grid-Connected Solar and Hybrid RE Projects; Stock Surges Over 240 per cent in Just 1 Year!

The company’s shares have delivered impressive multibagger returns of over 240 per cent in just 1 year.

Incorporated in 2008 and part of KP Group, the company is a key player in renewable power as an Independent Power Producer (IPP) and service provider under the ‘Solarism’ brand. The company has recently achieved significant milestones in the renewable energy sector by successfully winning two major tenders.

KPI Green Energy emerged victorious in Tender-I for 500 MW grid-connected Solar Photovoltaic Power Projects. The company secured a base capacity of 120 MWAC (132 MWDC) and, through the Greenshoe Option, increased this to a total of 250 MWAC (275 MWDC).

In Tender-II, focused on 500 MW grid-connected Hybrid RE Power Projects, the company obtained a base capacity of 50 MWAC (87 MWDC) and expanded this to 370 MWAC (642 MWDC) with additional Greenshoe capacity. The company has received Letters of Intent (LOIs) for both tenders. Power Purchase Agreements (PPAs) with GUVNL will be finalized following approval from the Gujarat Electricity Regulatory Commission (GERC).

With these new projects, KPI Green Energy's total renewable energy portfolio will exceed 2,800 MW, including 1,432 MW under the IPP segment and 1,368 MW under the Captive Power Producer (CPP) segment.

On Friday KPI Green Energy Limited shares closed the day at around Rs 964.85 per share. The company’s current market capitalization stands at Rs 11,632.73 crore. The stock has delivered a multibagger return of over 240 per cent in just 1 year.

As per the Quarterly Results, in the fourth quarter of FY24, KPI Green Energy Limited recorded a revenue of Rs 289 crore. The operating profit for Q4 FY24 stood at Rs 93 crore. The net profit for Q4 FY24 was Rs 43 crore. Looking at the annual performance, the company generated a revenue of Rs 1024 crore in FY24, compared to Rs 644 crore in FY23. The operating profit for FY24 was Rs 337 crore with a net profit of Rs 162 crore.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.