Shares of KPI Green Energy jumped about 4 percent in early trade on September 22 after the company said it has bagged an order to build a solar and wind power project.
The stock rose 4 percent to Rs 892.10. It has rallied 67 percent so far this year.
“We are glad to inform that KPI Green has received a new order for executing Wind-Solar Hybrid Power Project of 5.40 MW (comprising of 5.40 MW Wind Turbine and 4 MWdc Solar) capacity from M/s Greenlab Diamonds LLP, Surat under 'Captive Power Producer (CPP)' business segment of the Company,” the company said in a regulatory filing.
In the previous week as well, the company had received an order to build a similar project. It had received an order for executing Wind-Solar Hybrid Power Project of 4.20 MW (comprising 4.20 MW Wind Turbine and 3 MWdc Solar) capacity from M/s. Nouveau Jewellery LLP, Surat under Captive Power Producer (CPP) business segment of the Company.
KPI did not reveal monetary value of these orders.
The company reported a revenue of Rs 11.6 crore in the June quarter that gave profit of Rs 2.3 crore. Operating margin was at 33 percent while net profit margin at 20 percent.
For the year FY22, revenue stood at Rs 21.90 crore while profit at Rs 4.46 crore.
KPI is the leading solar energy company in Surat. It is a solar EPC solution provider that develops, builds, owns, operates and maintains solar power. The stock of the company is not tracked by any analyst.