9,500 per cent returns: This multibagger solar power stock bags new order for 100 MW Solar power project!
Shares of the company gained more than 150 per cent in the last six months.
KPI Green Energy has achieved a major milestone in its growth strategy by securing a 100 MWAC solar power project from Maharashtra State Power Generation Company Limited (MAHAGENCO). This win marks their expansion beyond their home state of Gujarat and strengthens their commitment to becoming a key player in India's renewable energy sector.
The project is part of a larger MAHAGENCO tender for developing a cumulative capacity of 600 MWAC solar power projects across Maharashtra. KPI Green emerged as the successful bidder for the 100 MWAC portion through an EPC (engineering, procurement, and construction) package with land acquisition.
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This achievement aligns perfectly with KPI Green's ambitious target of reaching 1,000 MW capacity by 2025. The company is committed to developing the project according to MAHAGENCO's tender specifications and timelines. This win signifies their ability to handle large-scale projects and positions them for further growth in the burgeoning renewable energy market.
Recently, the company was awarded a 50MW wind-solar hybrid power project by Gujarat Urja Vikas Nigam Limited (GUVNL) after a competitive bidding process. The project is part of GUVNL's plan to develop 500MW of hybrid renewable energy with the option to expand by another 500MW.
In Q3FY24, the company posted an 84.21 per cent increase in its consolidated revenue at Rs 330.12 crore compared to Rs 179.21 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 104.78 crore, while the PAT of the company stood at Rs 50.61 crore, from Rs 34.46 crore last year in the same quarter. The stock has delivered multibagger returns of over 9,500 per cent return in the last three years.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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