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Surat-based renewable energy player KPI Green Energy Ltd hit 52-week high levels of ₹708 on Wednesday. Exactly a year ago on June 15, 2021, the share price was quoted at ₹49.85, giving a phenomenal rise of over 1,300 per cent in a year.
In the past five trading sessions, the stock has rallied from ₹542 on June 9 to hit an intra-day high of ₹708 before settling at ₹701.95 on the BSE on Wednesday, a rise of nearly 30 per cent.
Order flows
According to market watchers, the stock rose sharply after the announcement of receiving commissioning certificates for four of its clients of Captive Power Producer (CPP) for total capacity of 3.447 MWdc.
Besides, KPI Energy, engaged in the business of renewable energy and power projects using solar energy, recently informed investors about receiving a commissioning certificate from Gujarat Energy Development Agency for 5.20-MWdc solar power project for Devika Fibers Pvt. Ltd. under CPP segment.
Trading volumes jumped nearly 4 times to 1.33 lakh shares on Wednesday against two-week average of 33,000 shares. On the NSE, over 14 lakh shares changed hands.
Financials improve
As the market capitalisation of the stock is ₹1,268 crore, the company is not tracked by analysts. However, the company’s financials have shown robust growth in revenues each quarter since past one year from ₹35.42 crore in June 2021 to ₹70.33 crore in the quarter ended March 2022. The company’s net profits have jumped from ₹8.03 crore to ₹12.17 crore.
The March 2022 shareholding pattern reveals that promotes currently hold 54.52 per cent stake. Among the public, Aspire Emerging Fund (FPI) holds 2.38 per cent, while about 9,050 small shareholders hold 14.87 per cent stake. High net worth individuals own 17.44 per cent in KPI Green Energy
KPI Green Energy, earlier known as KPI Global Infrastructure Ltd, is a multi-dimensional solar energy player having interests in the power generation and turnkey solutions for CPP, and sale of industrial plot for setting up solar power generation under the brand 'Solarism'.
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