9,500 per cent returns: This multibagger solar power stock bags new order for 50 MW wind-solar hybrid power project!
Shares of the company gained more than 150 per cent in the last six months.
KPI Green Energy wins big in Gujarat renewable energy project. 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.
KPI Green will develop a 16.8MW wind and 50MW solar power plant. Final approval hinges on a Power Purchase Agreement with GUVNL after clearance from the Gujarat Electricity Regulatory Commission. This win validates their expertise and commitment to clean energy solutions. It strengthens their position in the industry and furthers India's shift towards renewable energy sources.
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Recently, the company secured 9.40 MW of new domestic projects and signed a major 200 MW grid-connected project, contributing to their goal of reaching 1,000 MWp capacity by 2025. This aligns with their commitment to providing eco-friendly energy solutions.
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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