KPI Green Energy’s subsidiary has secured contracts to develop solar power projects with a combined capacity of 15.9 MW. On February 10, 2025, KPI Green Energy announced that its subsidiary, Sun Drops Energia Pvt Ltd, received letters of award for these projects, which fall under the company’s captive power producer business segment.
The orders were awarded by several companies, including Mexo Fiber Pvt Ltd, Rayons Pvt Ltd, Maharaja Industries, Gautam Casting Industries Pvt Ltd, Gautam Technocast, Shrirajlaxmi Denim, and Kartik Dyeing. The projects are expected to be completed in the 2025-26 financial year, with multiple phases as outlined in the contract terms.
In its third-quarter results, released over the weekend, the company reported a 67% increase in net profit, reaching ₹85 crore, while revenue rose by 39% to ₹458.3 crore, compared to ₹330 crore in the previous year. Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) also grew by 32% year-on-year to ₹137 crore, up from ₹104 crore a year earlier, with an EBITDA margin of 30%, slightly down from 31% the previous year.
Additionally, the company declared a third interim dividend of 4% (₹0.20 per equity share of face value ₹5) for the financial year 2024-25. The record date for this interim dividend payment is set for February 18, 2025, and it will be disbursed within 30 days of the declaration to shareholders listed in the Register of Members as of the record date.
As for the stock performance, KPI Green shares were trading 3.56% lower at ₹457.95 as of 11:05 AM on February 5. The stock has seen a decline of 37.48% over the past six months.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/kpi-green-energys-subsidiary-secures-orders-for-15-9-mw-solar-power-projects/
