Shares of multibagger KPI Green Energy Ltd turned ex-dividend today. The firm declared an interim dividend of Rs 0.25 on October 9. The Board of Directors of the solar power producer cleared an interim dividend at 2.5% per equity share. In the current session, KPI Green Energy shares were trading 1.82% lower at Rs 832.55 on BSE.
The power stock opened higher at Rs 863 against the previous close of Rs 847.95 on BSE. KPI Green Energy shares have gained 84.80% in 2023 and risen 92.36% in a year. The stock has zoomed 1157% in two years and risen 2981% in three years.
A total of 0.18 lakh shares of the firm changed hands, amounting to a turnover of Rs 1.49 crore on BSE. Market cap of the company fell to Rs 3,006 crore on BSE. KPI Green Energy stock has a one-year beta of 0.6, indicating very low volatility during the period.
The stock hit a record high of Rs 953.80 on August 29, 2023 and a 52-week low of Rs 345 on October 31, 2022.
In terms of technicals, the relative strength index (RSI) of KPI Green Energy stands at 46.3, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading lower than the 5 day, 10 day, 20 day, 50 day but higher than the 100 day, 150 day and 200 day moving averages.
In the first week of October, the company received orders aggregating to 12.10 MW solar power projects, out of which 3.10 MW capacity will be undertaken by KPI Green Energy. The projects are scheduled to be completed in various tranches in the financial year 2023-24.
Earnings in focus
KPI Green Energy reported a revenue of Rs 190.6 crore in the June 2023 quarter against a revenue of Rs 122.8 crore in the corresponding quarter a year ago.
Profit rose to Rs 33.3 crore in Q1 against Rs 22.2 crore in the corresponding quarter of the previous fiscal. Operating profit climbed to Rs 69.3 crore in Q1 against Rs 41.9 crore in the corresponding quarter of the previous fiscal.
For FY23, net profit climbed to Rs 109.6 crore against Rs 43.2 crore profit in FY22. Revenue from operations surged to Rs 647 crore in the last fiscal against Rs 231.22 crore for the fiscal ended March 2022.
KPI Green Energy 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 service provider to Captive Power Producer (CPP) customers.
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