KPI Green Energy receives CEIG approval for 15 MW solar projects under its CPP segment

The projects were executed for KPI Green Energy’s wholly-owned subsidiaries, KPIG Energia and Sun Drops Energia. Shares of KPI Green Energy were trading higher on Tuesday by 0.18% at ₹1,786.

Additionally, the company also reported that it has received CEIG approval for its 13.60 MW solar projects under the company’s Independent Power Producer segment. The projects will be included in the company’s power generation asset portfolio through its wholly-owned subsidiary, Sun Drops Energia.

In the fourth quarter of the financial year 2024, KPI Green Energy’s net profit rose 35.5% year-on-year (YoY) to ₹43.04 crore. The total income during the quarter saw an uptick of 58.9% YoY to ₹292.97 crore. The earnings before interest, tax, depreciation, and amortisation (EBITDA) came in higher by 71.5% YoY to ₹96.48 crore.

In the financial year ended March 31, 2024, KPI Green Energy reported a 47.5% YoY growth in its net profit at ₹161.66 crore. The company’s revenue during the year jumped 59.3% YoY to ₹1,030.82 crore. The company’s EBITDA during the year grew by 62.4% YoY to ₹343.76 crore.

The company’s earnings per share in FY24 were up 44.5% YoY to ₹28.17.

During the fourth quarter, KPI Green Energy received orders of over 682 MW and had over 1,234 MW of business in the pipeline.

KPI Green Energy is a power generating company from Gujarat and operates as both an independent power producer (IPP) and a service provider to captive power producers (CPP) under its brand, 'Solarism.’

Shares of the company have risen by over 86% since the beginning of the year. The stock has gained over 205% in the last one year.