The stock of the electric utilities company has surged 21 per cent in the past two days. In comparison, the S&P BSE Sensex was up 0.29 per cent at 52,846 points at 12:45 PM. .
In the past six trading days, the stock has zoomed 50 per cent after the KPI Green Energy announced that it has received commissioning certificate from Gujarat Energy Development Agency for capacity of 5.20 MWdc solar power project for Devika Fibers Pvt. Ltd. under 'Captive Power Producer' segment of the company.
KPI Green Energy is engaged in the business of renewable energy, developing Solar power Projects and generation power using solar energy and thereby using eco-friendly source of generation of energy. The company is a multi-dimensional solar energy player, with interests in power generation as an Independent Power Producer (IPP), turnkey solutions for CPP, and sale of industrial plot for foraying into solar power generation under the brand name of 'Solarism'. KPI has 165+ MW consolidated cumulative capacity energized for both IPP and CPP.
In the past one year, the stock price of KPI Green Energy has zoomed 1,147 per cent from a level of Rs 54.45 on the back of strong operational performance. In comparison, the S&P BSE Sensex has remained flat as it is added just 0.09 per cent during the same period.
For the financial year 2021-22 (FY22), the company's consolidated profit after tax jumped three-fold to Rs 43.25 crore from Rs 14.36 crore in FY21. Revenue from operation more-than-doubled to Rs 230 crore against Rs 104 crore in the previous fiscal. The company earned cash flow from operations of Rs 102.04 crore in FY22 vis a vis Rs (1.64) crore in FY21.
KPI Green Energy had said in 2022 that the company had bagged single largest CPP order of 25 MW Solar power plants in January-March quarter (Q4). It bagged CPP orders of 54.6 MW in Q4, which is the highest capacity in any quarter so far. The State Bank of India (SBI) took over entire financial assistance of Rs 178 crore availed from Power Finance Corporation (PFC) (at average 11.30 per cent interest rate) to substantially reduced rate of 7.45 per cent.
As on March 31, 2021, the company had an consolidated operation IPP capacity of 49 MW. During the financial year 2021-22 (FY22), the company added consolidated 51 MW of operational capacity to reach to total consolidated capacity of 100 MW. As on May 10, 2022 the company has a total consolidated order book of 99 MW which is expected to be executed and delivered in FY23.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app