KPI Green Energy terminates 66.20 MW hybrid power project, check stock reaction

Shares of KPI Green Energy Ltd were trading on a flat note on Tuesday after the company announced the termination of its 66.20 MW hybrid power project under the Captive Power Producer (CPP) segment. The multibagger stock rose 0.87% to Rs 388.95 in the current trading session. The power stock opened higher at Rs 396 today against the previous close of Rs 385.70 on BSE. The stock has risen 293% in two years and gained 712% in three years. 

A total of 0.36 lakh shares of the firm changed hands, amounting to a turnover of Rs 1.40 crore on BSE. Market cap of the company stood at Rs 7,689 crore on BSE.

The stock fell to a 52-week low of Rs 312.95 on January 29, 2025 and rose to a 52-week high of Rs 744.37 on August 12, 2024. 

"We wish to inform you that the Company has terminated the order from M/s Sai Bandhan Infinium Pvt. Ltd. for the 66.20 MW Hybrid Power Project under the Captive Power Producer (CPP) segment due to change in project technical requirement post receipt of order," said KPI Green. 

This termination will not have any material financial impact on the company, added the firm. 

In terms of technicals, the relative strength index (RSI) of KPI Green Energy stands at 43, 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, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.   

In the third quarter of the previous fiscal, KPI Green reported a 68.28% rise in its consolidated net profit to Rs 85.15 crore compared to Rs 50.6 crore in the year-ago period. Revenue from operations climbed 38.8% to Rs 458.35 crore in the three months ended December 2024, compared to Rs 330.11 crore a year back.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 32% to Rs 137 crore in Q3 against Rs 104 crore in the same period previous year. EBITDA margin stood at 30% against 31% in Q3 FY24.

KPI Green Energy also announced a third interim dividend of Rs 0.20 per equity share. The record date for interim dividend payment has been set as February 18, 2025.

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.