Bonus shares: Solar stock jumps 5% after Co. sets record date for bonus issue

A green energy stock surged over 5 percent after announcing the signing of a Memorandum of Understanding (MoU) with the Government of Rajasthan. The agreement outlines the development of hybrid solar and wind power projects in the state. 

Price Variation 

During Friday’s trading session, KPI Green Energy Limited’s share price climbed 5 percent to an intra-day high of Rs.802.30 per share, up from the previous close of Rs.764.10 per share. Over the past five years, the stock has yielded a return of over 800 percent. 

MoU Details 

KPI Green Energy Limited has formalized a partnership with the Government of Rajasthan through a Memorandum of Understanding (MoU) aimed at advancing hybrid solar and wind power projects in Jaisalmer (Ramgarh), Rajasthan. 

This agreement signifies a collaborative effort to enhance the renewable energy sector, reflecting both parties’ commitment to a sustainable energy future. The Rajasthan government will assist KPI Green Energy in securing necessary permissions and clearances from relevant state departments, ensuring compliance with existing policies and regulations. 

This initiative is part of a broader strategy to promote clean energy solutions in the region. The signing of this MoU is expected to bolster the company’s growth trajectory in the renewable energy market, aligning with its vision of sustainability. 

Bonus Shares 

Additionally, KPI Green Energy has announced a record date of January 3, 2025, for a bonus issue of shares, further demonstrating its financial health and commitment to shareholder value. 

Capacity Expansion 

As of H1FY25, KPI Green Energy’s installed capacity reached 507 MW, with 171 MW from the Independent Power Producer (IPP) capacity and 336 MW from Captive Power Producer (CPP) capacity. 

The company’s total operational portfolio, including ongoing projects, amounts to 2.91 GW, split between 1.43 GW of IPP capacity and 1.48 GW of CPP capacity, progressing toward a 10 GW target by 2030. 

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Order Book 

As of September 30, 2024, the company’s order book stood at 2,409 MW, with 1,261 MW in IPP orders and 1,148 MW in CPP orders. The IPP segment includes 538 MW of solar and 723 MW of hybrid orders, while the CPP segment has 763 MW of solar and 385 MW of hybrid orders, reflecting a balanced approach between solar and hybrid power projects.

Business Segments 

KPI Green Energy’s business segments include Independent Power Producer (IPP) and Captive Power Producer (CPP). IPP contributes 12.1 percent to the revenue share, while CPP accounts for 87.9 percent. 

Financial Performance 

Turning towards the financials of the company, KPI Green Energy Limited reported Q2 FY25 revenue of Rs.360 crore, up remarkably by 67.5 percent from Rs.215 crore in the same quarter last year. Profit After Tax (PAT) increased by 100 percent to Rs.70 crore, compared to Rs.35 crore in the same period. 

Company Profile 

KPI Green Energy is a company that develops and maintains solar power projects, sells the power generated from these projects, and provides operation and maintenance services (OMS). Additionally, KPI Green Energy sells land parcels to third parties for the development of solar power plants. 

Written by – Siddesh S Raskar 

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