Shares of KPI Green Energy soar on receiving new orders for executing solar power projects

KPI Green Energy has received new orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity undertaken by KPI Green Energy and 9 MW capacity by Sun Drops Energia, a wholly owned subsidiary of the Company under ‘Captive Power Producer (CPP)’ Segment of the Company. The projects are scheduled to be completed in the financial year 2023-24, in various tranches as per the terms of the order.

In September, the company successfully commissioned a 7.80 MW wind-solar hybrid power project comprising 4.20 MW wind energy facilitated by KPI Green and 3.60 MWdc of solar capacity provided by its wholly owned subsidiary, KPIG Energia Private Limited. This project has been executed for M/s. Mono Steel India Limited in Surat under the CPP division of the company, in compliance with the Gujarat Wind-Solar Hybrid Power Policy 2018.

In August, the company received commissioning certificates from the Gujarat Energy Development Agency (GEDA) for a 4.10-MW wind-solar hybrid power project at Bharuch in Gujarat. The power project comprises 2.10 MW wind and 2 MWdc solar capacity, from the company’s own power-generating asset portfolio.

Also, the company entered into a contract with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a subsidiary of Mahatma Phule Backward Class Development Corporation (MPBCDC), a Maharashtra government undertaking.

KPI Green Energy (formerly known as K.P.I. Global Infrastructure) is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as a service provider to Captive Power Producer (CPP) customers.

KPI Green Energy is currently trading at Rs 910, up by 25.85 points or 2.92% from its previous closing of Rs 884.15 on the BSE. The scrip opened at Rs 895.05 and touched a high and low of Rs 918.90 and Rs 895.05 respectively. So far 4431 shares were traded on the counter.

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high of Rs 953.80 and a 52-week low of Rs 345.00. Last one week high and low of the scrip stood at Rs 918.90 and Rs 826.75 respectively. The current market cap of the company is Rs 3194.79 crore. The promoters holding in the company stood at 54.81%, while Institutions and Non-Institutions held 3.54% and 41.65% respectively.

The projects are scheduled to be completed in the financial year 2023-24.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

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KPI Green Engineering Bags Rs.351 Cr Order In Solar And Transmission Projects

Summary: KPI Engineering issues a BSE filing stating a massive order worth Rs. 351 Crore from multiple clients. The orders mainly include projects in the field of renewable energy.

KPI Green Engineering Limited is a pioneer in providing diverse solutions under a roof with complete engineering and steel structure manufacturing. The corporation is equipped with world-class machinery for drilling, welding, laser cutting, plasma operations, etc, Its line of work covers Transmission Industries, Telecom industries, substation structures, isolator hybrid towers, manufacturing, etc. The main aim of the company is to support India’s infrastructure development by efficiently utilizing India’s capacity and strength. This is assured by a series of stringent quality checks on each and every product that reaches their customers and the company also gains its credibility by being ISO 9001-2015 certified.

KPI Green energy bags Rs.351 crores order

KP Green Engineering Limited issued a BSE filing on 5 June 2024 telling them about confirmed new orders totaling Rs.351.35 Crores from multiple clients. The total order covers various segments such as Solar Projects(Rs. 212.38 Crores), Transmission Line Towers(Rs. 79.51 Crores), Isolators (Rs. 2.49 Crores), Projects rearing 180 MW Pooling Substation and 33KV Line supply ( Rs.52.54 Crores), cash barriers (Rs. 4.24 Crores), and Cable Trays (Rs. 0.19 crores). Within these segments, KPGE is tasked with building crash barriers for railway track fencing and electricity transmission line towers, supplying tracker-type module mounting structures among other things.KPGE intends to complete the above-mentioned orders within FY25.

KP Green Engineering Stock:

KPGE got its IPO allocated on March 20, 2024. Their shares get listed on BSE under the SME index on March 22, 2024. The price band was set at Rs.137-140/share. Their share price, on June 05, 2024, at 04:00 P.M. closed at Rs. 549.20, an increase of 2.80 points (0.51%)

Conclusion: KP Green Engineering Limited is a strong player in the renewable energy sector. With an annual income of Rs. 351 Crore in FY24, it has shown strong financial performance. The recent order worth Rs. 351 Crore shows their commitment towards efficient use of India’s capacity to provide renewable solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.