 "KPI Green Energy announces ex-date for bonus issue; stock jumps 5%")
Shares of KPI Green Energy rallied up to 4.80 per cent at Rs 800 per share on the BSE in Friday’s early morning deals. KPI Green Energy share price surged after the company announced January 3, 2024 as the record date for its proposed bonus issue in a 1:2 ratio.
“The Company has fixed Friday, January 03, 2025, as the ‘Record Date’ for determining the eligibility of Shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Shares of Rs. 5/- (Rupees Five only) each for every 2 (Two) existing Equity Share of Rs. 5/- (Rupees Five only) each,” the company said in an exchange filing on Thursday.
Further, in a separate announcement, the company said that it has signed an MoU with the Rajasthan government to develop hybrid solar and wind power projects in Jaisalmer.
“We are pleased to announce that KPI Green Energy Limited (‘Company’) has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan for the development of Hybrid, Solar & Wind Power Projects at Jaisalmer (Ramgarh), Rajasthan,” the company said.
The Government of Rajasthan would facilitate the company to obtain necessary permissions/clearance etc. from concerned departments of the State as per the existing policies/rules and regulations of the State Government.
Founded in 2008, KPI Green Energy Ltd, a subsidiary of KP Group, specialises in renewable energy and manages the entire lifecycle of solar and wind-solar hybrid power projects. Operating as an Independent Power Producer (IPP) and a service provider for Captive Power Producers (CPPs) under its ‘Solarism’ brand, the company offers development, construction, ownership, management, and maintenance services for renewable power facilities.
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Financially, KPI Green Energy reported a total revenue of Rs 361.4 crore, marking a 67.4 per cent increase for the quarter ended September 2024 from Rs 215.9 crore in the same quarter the previous year.
Ebitda rose significantly by 86.6 per cent to Rs 134.4 crore, compared to Rs 72 crore in Q2 FY24, reflecting strong operational efficiency and effective cost management. Profit After Tax (PAT) more than doubled, soaring 101 per cent to Rs 69.8 crore from Rs 34.7 crore in the corresponding period last year.
The company has a total market capitalization of Rs 10,402.39 crore. Its shares are trading at a price to earnings multiple of 66.71 times and at an earning per share of Rs 11.88.
At 9:41 AM; the shares of the company were up 3.75 per cent at Rs 791.95 a piece. By comparison, the BSE Sensex was trading 0.09 per cent higher at 79,290.35 level.