KPI Green Energy Soars 5% on Securing 15 MW Solar Project

16 Feb 2024 , 12:23 PM

In the early trade on February 16, the share price of KPI Green Energy was trapped in a 5% upper circuit following the company’s subsidiary’s acquisition of a 1.5 MW solar power plant.

KPI Green Energy was trading at ₹1,479.15 at 9:24 a.m. on the BSE, up ₹70.40, or 5%. 

65,533 shares were the subject of pending buy orders, and no sellers were available. 

A fresh 1.5 MW order was received by KPIG Energia Private Limited, a fully owned subsidiary of the business, to carry out a solar power project under the Pruthvi Textile ‘Captive Power Producer (CPP)’ sector. The project must be finished by the end of the 2024–2025 fiscal year.

Aether Industries placed an order with the subsidiary earlier this month for a 15 MW solar power plant. 

A new order for 5 MW from Skywin Paper Industries Private Limited and 5.60 MW from Shree Varudi Paper Mill LLP were received by the subsidiary in January.

In the December quarter, the company reported a 47% increase in consolidated net profit to ₹50.60 Crore, while revenue jumped to ₹331.32 Crore.

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