K.P. Energy Ltd

K.P. Energy Ltd

₹ 445 5.00%
23 Feb - close price
About

KP Energy Limited is a balance of plant (BoP) solution provider for the Wind Energy industry. The company engages throughout the development process of wind farms, right from conceptualization until the commissioning of the project. The company undertakes projects principally in Gujarat. [1]

Key Points

EPCC Segment (95%) [1]
The company's Engineering, Procurement, Construction, and Commissioning segment revolves around a unique value proposition that is designed to comprehensively address all the needs of Wind Turbine Generator (WTG) manufacturers, Independent Power Producers (IPP), and Captive Power Consumers (CPP) in setting-up of a wind farm. [2] [3] It has energized a cumulative capacity of >500 MW as EPCC service provider. [4]

  • Market Cap 2,969 Cr.
  • Current Price 445
  • High / Low 445 / 47.7
  • Stock P/E 61.6
  • Book Value 22.0
  • Dividend Yield 0.03 %
  • ROCE 51.2 %
  • ROE 41.4 %
  • Face Value 5.00

Pros

  • Company has delivered good profit growth of 86.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.0%
  • Company's median sales growth is 73.3% of last 10 years
  • Company's working capital requirements have reduced from 101 days to 11.4 days

Cons

  • Stock is trading at 20.2 times its book value
  • Debtor days have increased from 40.2 to 49.5 days.
  • Promoter holding has decreased over last 3 years: -24.0%

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
14.36 32.52 20.26 51.41 71.14 107.58 123.87 55.34 107.35 147.26 111.75 69.38 81.36
9.86 25.47 15.73 42.25 57.78 100.37 107.22 44.85 88.13 124.42 91.41 53.71 64.23
Operating Profit 4.50 7.05 4.53 9.16 13.36 7.21 16.65 10.49 19.22 22.84 20.34 15.67 17.13
OPM % 31.34% 21.68% 22.36% 17.82% 18.78% 6.70% 13.44% 18.96% 17.90% 15.51% 18.20% 22.59% 21.05%
0.18 0.83 0.21 0.16 0.18 2.91 0.20 1.49 0.22 2.65 0.37 1.23 0.84
Interest 1.28 1.36 0.77 1.18 1.24 1.14 1.02 1.02 1.57 1.79 1.90 2.89 3.49
Depreciation 1.11 1.07 1.09 1.12 1.12 1.12 1.27 1.24 1.34 1.32 2.01 2.10 2.12
Profit before tax 2.29 5.45 2.88 7.02 11.18 7.86 14.56 9.72 16.53 22.38 16.80 11.91 12.36
Tax % 7.86% 37.43% 29.17% 26.64% 31.22% 23.16% 32.21% 33.02% 29.28% 29.58% 10.54% 30.98% 25.49%
2.11 3.41 2.03 5.15 7.70 6.04 9.87 6.51 11.68 15.75 15.04 8.22 9.21
EPS in Rs 0.32 0.51 0.30 0.77 1.16 0.91 1.48 0.98 1.75 2.36 2.25 1.23 1.38
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3 1 9 27 41 111 60 158 74 69 250 434 410
3 1 9 22 31 82 50 125 63 51 216 364 334
Operating Profit 0 0 1 5 10 29 10 33 11 18 35 70 76
OPM % 14% 35% 7% 18% 24% 26% 17% 21% 15% 26% 14% 16% 19%
0 0 0 0 0 0 0 0 1 1 3 5 5
Interest 0 0 0 0 1 2 3 5 5 5 5 6 10
Depreciation 0 0 0 0 1 1 3 4 4 4 4 5 8
Profit before tax 0 0 0 4 8 26 4 25 3 10 29 63 63
Tax % 29% 33% 30% 33% 34% 35% 50% 22% 60% 26% 28% 31%
0 0 0 3 5 17 2 19 1 7 21 44 48
EPS in Rs 0.07 0.31 1.51 0.78 2.53 0.28 2.92 0.17 1.08 3.14 6.57 7.22
Dividend Payout % 0% 0% 0% 0% 0% 6% 0% 6% 0% 0% 5% 2%
Compounded Sales Growth
10 Years: 83%
5 Years: 49%
3 Years: 80%
TTM: 4%
Compounded Profit Growth
10 Years: 90%
5 Years: 87%
3 Years: 239%
TTM: 41%
Stock Price CAGR
10 Years: %
5 Years: 68%
3 Years: 257%
1 Year: 668%
Return on Equity
10 Years: 29%
5 Years: 27%
3 Years: 30%
Last Year: 41%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 0 0 1 3 9 9 11 11 11 11 11 11
Reserves 1 0 0 4 13 24 26 43 43 50 72 113 136
2 2 1 2 10 21 36 30 26 28 23 35 60
2 6 8 12 17 50 63 80 144 141 202 180 164
Total Liabilities 4 9 10 19 43 104 134 164 224 230 308 338 371
0 0 1 10 25 50 85 83 81 83 86 141 162
CWIP 0 0 0 0 0 18 0 0 0 1 0 1 0
Investments 0 0 0 0 0 1 1 1 26 27 31 31 31
4 8 10 9 18 35 48 80 117 119 190 165 178
Total Assets 4 9 10 19 43 104 134 164 224 230 308 338 371

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-2 0 0 7 5 36 9 6 -18 -16 22 45
-0 0 -0 -9 -17 -44 -20 -2 -26 -8 -9 -59
2 0 -0 3 13 8 17 -6 44 33 -9 6
Net Cash Flow 0 1 -1 1 1 0 7 -2 0 9 4 -8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 3 39 0 26 69 84 143 64 73 42 29 49
Inventory Days
Days Payable
Cash Conversion Cycle 3 39 0 26 69 84 143 64 73 42 29 49
Working Capital Days 365 1,091 188 15 27 12 -92 6 173 260 30 11
ROCE % 37% 16% 28% 96% 53% 70% 12% 38% 9% 18% 33% 51%

Shareholding Pattern

Numbers in percentages

10 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
68.78% 65.36% 66.43% 66.60% 66.39% 59.56% 44.80% 44.80% 44.80% 44.80% 44.80% 44.80%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.19% 0.26% 0.26%
31.22% 34.64% 33.57% 33.40% 33.61% 40.44% 55.20% 55.20% 55.15% 55.01% 54.94% 54.94%
No. of Shareholders 1,0001,2592,1954,9997,6668,3369,7549,41411,04414,25816,19718,312

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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