1,500 per cent returns & FIIs increase stake: This multibagger power generation company receives new order for 464.10-MW from NTPC & Indian Oil!

The stock gave multibagger returns of 185 per cent in just 1 year, 750 per cent in 2 years and a whopping 1,500 per cent in 3 years.

KP Energy Ltd informed that the company had been awarded contract(s) through the notification of award (NOA) for the development of a 464.10-MW balance of system package for an Inter-State Transmission System (ISTS) connected wind energy project to be developed in the State of Gujarat by NTPC Renewable Energy Limited (NTPC REL) through a competitive bidding process.

NTPC Green Energy Limited (NGEL), the holding company of NTPC REL, has collaborated with Indian Oil Corporation Limited (IOCL) to supply Renewable Energy Round Clock (RTC) power to meet their requirement and has formed a Joint Venture Company named IndianOil NTPC Green Energy Private Limited (INGEL).

Accordingly, K.P. Energy Limited has executed a novation agreement for a 308.49-MW balance of system package for an Inter-State Transmission System (ISTS) connected wind energy project with INGEL with the same scope of works and other conditions agreed under the contracts with NTPC REL.

K.P. Energy Limited is a balance of plant (BoP) solution provider for the wind energy industry. The company engages throughout the development process of wind farms, right from conceptualization until the commissioning of the project.

Talking about finances, this power company has a market cap of Rs 1,240 crore with a 3-year stock price CAGR of 167 per cent. The shares of the company have an ROE of 41.4 per cent and an ROCE of 51.2 per cent. The company reported positive numbers in its Quarterly Results (Q2FY24) and annual results (FY23). In the September quarter (Q2FY24), FIIs increased their stake from 0.19 per cent to 0.26 per cent.

Today, shares of KP Energy Ltd hit a 5 per cent upper circuit to Rs 585.90 per share from its previous closing of Rs 558. The stock’s 52-week high is Rs 619.4 and its 52-week low of Rs 143.05.

The stock gave multibagger returns of 185 per cent in just 1 year, 750 per cent in 2 years and a whopping 1,500 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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