Shares of KPI Green Energy, whose shares have rallied 169 per cent from a 52-week low level of Rs 362, will turn ex-bonus today in the ratio of 1:1. Today is also the record date for the purpose of determining the names of members who would be entitled for allotment of bonus equity shares.
The company has been in news of late on signing power purchase agreements. On January 16, it signed a new long term power purchase agreement (PPA) for sale of 6.30 mw solar power with clients under the independent power producer (IPP) segment of the company. The clients included Heubach Colour (2.90 mw), Sachin Paper Mills (0.40 mw) and Alembic Pharmaceuticals (3 mw).
The company had in December announced signing of a long term power purchase agreement (PPA) for sale of 7.50 mw solar power with Tata Motors Passengers Vehicles, a subsidiary of Tata Motors, under the Independent Power Producer (IPP) segment of the company.
KPI Green Energy (formerly known as KPI 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.
At the end of September quarter, the company had 87 mw of consolidated cumulative orders on hand under CPP including those under Hybrid Project and 48 mw consolidated cumulative PPAs. The scrip had got listed on the SME platform in 2019. It migrated to BSE and NSE mainboard in 2021
In its second quarter earnings report, KPI Green Energy said the company bagged its biggest order for executing the solar power project of 26.60 mw from Nouveau Group. The company commenced its operations towards setting up of a 16.10 mw Hybrid Power Project, totalling to 26.1 mw of total capacity, under Gujarat Hybrid Power Policy 2018.
For the first half of FY23, this company reported consolidated net profit of Rs 43.39 crore, which is more than double of the same during H1FY22 and also stood higher than the annual numbers of FY22. Revenue for the H1FY23 stood at Rs 36.47 crore compared with Rs 23.99 crore in the year-ago quarter.
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