Renewable energy stock jumps 5% after securing 534 MW solar power projects from Adani Group

Synopsis: A renewable energy sector company has bagged a 534 MW project from Adani Group companies. The company in context has a 5 year profit CAGR of 118 percent and a sales CAGR for the same period stands at 97 percent.

A small-cap power stock engaged in developing, building, owning, managing, and maintaining renewable energy assets saw its shares rise 5 percent after the company announced it had secured orders for 534 MW solar projects from Adani Group for its Khavda renewable project.

With a market cap of Rs 8,738 Cr, KPI Green Energy Ltd saw its stock hit an intraday high of Rs 454 which is 5 percent higher than the previous close of Rs 432. The stock has given a compounded return of 131 percent in the last 5 years while the 3 year number is at 64 percent.

What’s the News?

KPI Green Energy Limited announced that the company has secured major orders for the Balance of System (BoS) supply and onsite services for 534 MW solar power projects at Khavda, Kutch, Gujarat. The orders have been awarded by Adani Green Energy Limited for supply and Adani Green Energy Six Limited for onsite services. 

The scope includes manufacturing, procurement, transportation, installation, testing, commissioning, and performance guarantee testing, covering civil, mechanical, and electrical works. These large-scale utility solar projects will be executed in phases as per contractual timelines. As of HFY26, the company’s orderbook stands at more than 3.08GW. In this period the company has installed more than 1.07 GW capacities.

Business & Financial Overview

Incorporated in 2008, KPI Green Energy Ltd, a part of the KP Group, operates in the renewable energy space by developing, owning, and operating solar and hybrid power projects as an Independent Power Producer, while also providing end-to-end solutions to Captive Power Producers under its ‘Solarism’ brand. The client list includes Tata Motors, Larsen & Toubro Limited and more

In the latest quarter  KPI Green Energy Ltd saw a YoY revenue growth of 76 percent, going from Rs 360Cr in Q2FY25 to Rs 634 Cr in Q2FY26, while the QoQ went up by 5 percent from Rs 603 Cr in Q1FY26. The YoY Net Profits growth is at 67 percent, going from Rs 70 Cr in Q2FY25 to Rs 117 Cr in Q2FY26, while the QoQ growth stood at 5 percent from Rs 111 Cr in Q1FY26.

Apart from these the company has a 5 year profit CAGR of 118 percent, while the 3 year number is at 95 percent. The 5 year sales CAGR is at 97 percent, while the 3 year number is at 96 percent. The company has a ROCE of 17 percent and a ROE of 20 percent.

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