KPI Energy at new high

KPI Energy is attracting a lot of attention today morning in an otherwise lackluster market. From its close of Rs.1214.85, it opened at Rs.1264.95, up over 4% and a new 52-week high. Currently, it is trading at Rs.1227 levels; clearly profit booking on the works.

The stock price hit a high, reacting to the news that its subsidiary, Sun Drops Energia Private Limited received new orders of 4.66 MW for executing solar power projects under ‘Captive Power Producer (CPP)’ segment.

The company said that with this order, its total solar power project orders have crossed more than 143 MW under the CPP segment.

The above mentioned CPP orders are scheduled to be completed in FY25 in various tranches.

Working in the renewable energy sector, the company operates as both an Independent Power Producer (IPP) and a Captive Power Producer (CPP) under the brand, 'Solarism.'

The company had ended H1FY24 with a 44% (YoY) rise in total income at Rs.406 crore. EBITDA came in at Rs.142 crore, up 49% while PAT was at Rs.68 crore, up 57%.