1,740 per cent returns & FIIs increase stake: This multibagger engineering company bags new order from Aditya Birla Renewable Energy Limited

The stock gave multibagger returns of 185 per cent in just 1 year, 1,070 per cent in 2 years and a whopping 1,740 per cent in 3 years.

KP Energy Ltd informed that the company has received a new order from Aditya Birla Renewable Energy Limited for the development of a balance of plant of 23.1MW wind capacity forming part of the wind-solar hybrid power project (comprising 23.1MW wind and 11MW Solar) to be connected to existing 140MW power evacuation facility at Fulsar PSS.

The project is to install 11 Suzlon S120 wind turbines, each with a rated capacity of 2100 kW, at a hub height of 140 meters. KP Energy will be responsible for the entire EPCC process, including land acquisition, design, manufacturing, supply, construction, erection, testing, and commissioning for the balance of the plant, as well as securing the necessary approvals and permits for the project.

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 1,293 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 (Q1FY24) and annual results (FY23). In the September quarter (Q2FY24), FIIs increased their stake from 0.19 per cent to 0.26 per cent.

On Friday, shares of KP Energy Ltd plunged 0.89 per cent to Rs 581.45 per share with an intraday high of Rs 598 and an intraday low of Rs 575. The stock’s 52-week high is Rs 618 and its 52-week low of Rs 143.05.

The stock gave multibagger returns of 185 per cent in just 1 year, 1,070 per cent in 2 years and a whopping 1,740 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