KPI Green Energy Ltd
Incorporated in 2008, KPI Green Energy Ltd is part of KP Group. They develop, build, own, manage, and maintain renewable power facilities (solar and wind solar hybrid power project) as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs) under the ‘Solarism’ brand. [1]
Group Companies: [2]
KP Energy Limited
KP Green Engineering Private Limited
KPF Green Hydrogen & Ammonia Technology Private Limited
KP Human Development Foundation
- Market Cap ₹ 12,079 Cr.
- Current Price ₹ 2,004
- High / Low ₹ 2,109 / 313
- Stock P/E 74.6
- Book Value ₹ 139
- Dividend Yield 0.05 %
- ROCE 21.6 %
- ROE 29.6 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 101% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.4%
Cons
- Stock is trading at 14.4 times its book value
- Promoters have pledged 45.5% of their holding.
- Company has high debtors of 152 days.
- Working capital days have increased from 160 days to 244 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Power Infrastructure Industry: Power Generation And Supply
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 34 | 59 | 102 | 230 | 644 | 1,024 | |
| 19 | 32 | 44 | 121 | 435 | 687 | |
| Operating Profit | 15 | 27 | 58 | 109 | 208 | 337 |
| OPM % | 45% | 46% | 57% | 47% | 32% | 33% |
| 6 | 0 | 0 | 1 | 3 | 7 | |
| Interest | 4 | 8 | 16 | 37 | 47 | 86 |
| Depreciation | 4 | 7 | 13 | 14 | 23 | 40 |
| Profit before tax | 13 | 12 | 30 | 59 | 142 | 217 |
| Tax % | 31% | 46% | 27% | 27% | 23% | 26% |
| 9 | 6 | 22 | 43 | 110 | 162 | |
| EPS in Rs | 1.64 | 1.19 | 4.04 | 7.98 | 20.23 | 26.82 |
| Dividend Payout % | 0% | 0% | 0% | 4% | 9% | 3% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 97% |
| 3 Years: | 116% |
| TTM: | 59% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 101% |
| 3 Years: | 95% |
| TTM: | 47% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 145% |
| 3 Years: | 415% |
| 1 Year: | 494% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 35% |
| Last Year: | 30% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 18 | 18 | 36 | 60 |
| Reserves | 81 | 80 | 102 | 136 | 222 | 775 |
| 40 | 139 | 240 | 446 | 676 | 1,036 | |
| 22 | 61 | 49 | 177 | 322 | 564 | |
| Total Liabilities | 161 | 298 | 409 | 777 | 1,255 | 2,436 |
| 84 | 213 | 244 | 482 | 801 | 979 | |
| CWIP | 18 | 1 | 21 | 31 | 0 | 101 |
| Investments | 0 | 0 | 0 | 0 | 2 | 0 |
| 59 | 85 | 144 | 264 | 453 | 1,355 | |
| Total Assets | 161 | 298 | 409 | 777 | 1,255 | 2,436 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| -17 | 40 | -27 | 102 | 159 | -57 | |
| -15 | -119 | -63 | -189 | -309 | -387 | |
| 33 | 87 | 101 | 91 | 177 | 562 | |
| Net Cash Flow | 1 | 8 | 11 | 4 | 27 | 118 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Debtor Days | 143 | 175 | 178 | 58 | 83 | 152 |
| Inventory Days | 227 | |||||
| Days Payable | 284 | |||||
| Cash Conversion Cycle | 143 | 175 | 178 | 58 | 83 | 96 |
| Working Capital Days | 404 | 67 | 282 | 160 | 76 | 244 |
| ROCE % | 11% | 16% | 20% | 25% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1d - KPI Green Energy Limited submitted the extract of Standalone and Consolidated Audited Financial Result of the Company for the quarter and year ended March 31, …
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Announcement under Regulation 30 (LODR)-Investor Presentation
1d - KPI Green Energy Limited submitted the Investor Presentation along with performance key highlights for the quarter and year ended March 31, 2024.
- Statement Of Deviation / Variation In Utilization Of Funds Raised Through Qualified Institutions Placement 1d
- Results - Financial Results For Quarter And Year Ended March 31, 2024 1d
- Board Meeting Outcome for Board Meeting Outcome For Approval Of Audited Standalone And Consolidated Financial Results For The Quarter And Year Ended March 31, 2024 2d
Annual reports
Concalls
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Apr 2024TranscriptNotesPPT
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Feb 2024TranscriptNotesPPT
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Nov 2023TranscriptNotesPPT
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Oct 2023TranscriptNotesPPT
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Oct 2023TranscriptNotesPPT
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Aug 2023TranscriptNotesPPT
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Jun 2023TranscriptPPTREC
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Jun 2023TranscriptNotesPPT REC
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Jan 2023TranscriptNotesPPT
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Oct 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Jan 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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Jul 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
Business Overview:[1]
Company provides solar power, both as
an independent power producer (IPP) and Engineering, Procurement, Construction (EPC) services to Captive Power producers(CPP) customers. Company runs its entire business from Bharuch, Kutch(Bhuj), Surendranagar and Bhavnagar districts of Gujarat. Currently, company has an installed capacity of 137 MW+[2] of solar power under IPP segment and 176 MW+ of EPC/CPP projects
a) Independent Power Producer (IPP):[3]
Company provides solar energy under third party sale business in Gujarat. It develops and maintains grid-connected IPP solar power projects under ‘Solarism’ brand. Company supplies power, generated from solar power plants to business houses through Power Purchase Agreements (PPA).
b) Captive Power Producer (CPP):[4]
In CPP model, company develops, transfers, operates, maintains and sells grid-connected solar power projects to customers by providing them power evacuation infrastructure along with grid-connected land to generate solar power. Company also offers Operation & Maintenance Services (O&M) through a separate O&M agreement to customers
c) Industrial Plot Sale:[5]
Company sells land parcels to third parties which are taken back on lease for 25 years for developing solar power plant. Company pays a fixed lease rental to land owners as per lease agreement.