Shares of KPI Green Energy Limited advanced 5 percent to Rs 1,812 in early trade on March 11 after the company announced it has received an order of 305MWac by two Aditya Birla Group subsidiaries, forming part of the wind-solar hybrid power project in Gujarat.
The company will be responsible for providing engineering, procurement, construction, and commissioning (EPCC) services, including supply, loading, unloading, transportation, and construction of the solar project. Per the exchange filing, the project is scheduled to be completed in
the financial year 2025-26.
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At 9:25 am, the counter was trading at Rs 1,769, up 2.5 percent from the previous close on the NSE. In the last one year, the stock has rocketed 493 percent on the exchanges.
This is the company's second order win in quick succession. Last week, the company announced securing four solar projects aggregating to 9.40 megawatts. It stated that KPI will undertake 5 MW capacity, while the remaining 4.40 MW will be undertaken by its wholly-owned subsidiary KPIG Energia Private Limited.
In February, KPIG Energia bagged orders for 1.5 MW solar power projects under the Captive Power Producer (CPP) segment from Pruthvi Textile. The project is to be completed in the financial year 2024-25.
In the December quarter, KPI Green posted a 47 percent year-on-year rise in consolidated net profit at Rs 50.60 crore, supported by higher income. The company's total revenue surged to Rs 331.32 crore over Rs 179.66 crore a year ago.
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