There was a jump of 3,400% in the shares of this green energy company, get complete information.

KPI Green Energy Limited Becomes Debt-Free, Shares Surge by 3,400%

KPI Green Energy Limited, a prominent player in the renewable energy sector, has achieved a significant milestone by becoming debt-free. This development has led to a remarkable 3,400% surge in the company’s share price. The company, operating primarily as an Independent Power Producer (IPP) under the brand ‘Solarism’, has received approval for a 5 MW solar energy project from the Chief Electricity Inspector (CEIG).

Financial Stability and Performance

The approval allows the project to move forward under KPIG Energia Pvt Ltd, a subsidiary of KPI Green Energy. As of August 28, 2024, the company reported zero net debt, enhancing its financial stability and reducing interest expenses. Recent financial results indicate a revenue of ₹348 crore for Q1FY25, with a net profit of ₹66 crore, up from ₹33 crore last year.

Shareholding Insights

KPI Green Energy shares closed at approximately ₹814, with a market capitalization of ₹10,684 crore. Promoters hold 48.77% of shares, while foreign and domestic institutional investors collectively own 13.94%. This positive trend reflects growing investor confidence in the company’s robust financial health and growth potential.