K.P. Energy Ltd

K.P. Energy Ltd

₹ 408 -0.49%
21 Jun - close price
About

K.P. Energy(KPEL) is a part of the KP Group of Surat. It is involved in the development of utility scale wind power generation infrastructure. The major activities encompass siting of wind farms, acquisition of lands and permits, EPCC of wind projects, along with balance of plant (BoP) infrastructure. KPEL also owns and operates WTGs (Wind Turbine Generators) and solar power plant as an IPP( Independent Power Producers). The company undertakes projects principally in Gujarat. [1]

Key Points

EPCC Segment (97% - 9MFY24)[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] The existing portfolio creates an annuity-based revenue stream for the Company.[3]

  • Market Cap 2,718 Cr.
  • Current Price 408
  • High / Low 514 / 108
  • Stock P/E 46.6
  • Book Value 27.8
  • Dividend Yield 0.04 %
  • ROCE 41.0 %
  • ROE 37.1 %
  • Face Value 5.00

Pros

  • Company has delivered good profit growth of 24.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 34.7%

Cons

  • Stock is trading at 14.6 times its book value
  • Company has high debtors of 195 days.
  • Promoter holding has decreased over last 3 years: -24.0%
  • Working capital days have increased from 39.0 days to 74.2 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
35 20 51 71 108 125 56 108 148 113 70 82 207
28 16 42 58 100 108 45 89 125 92 54 65 177
Operating Profit 7 5 9 13 7 17 11 20 23 21 16 17 31
OPM % 20% 22% 18% 19% 7% 14% 20% 18% 15% 19% 23% 21% 15%
1 0 0 0 3 0 1 0 3 0 1 1 10
Interest 1 1 1 1 1 1 1 2 2 2 3 3 4
Depreciation 1 1 1 1 1 1 1 1 1 2 2 2 2
Profit before tax 5 3 7 11 8 15 10 17 23 17 12 13 34
Tax % 56% 45% 33% 35% 28% 32% 33% 30% 30% 11% 30% 25% 26%
2 1 4 7 5 10 7 12 15 15 8 9 25
EPS in Rs 0.34 0.21 0.68 1.04 0.82 1.50 1.01 1.76 2.32 2.28 1.23 1.39 3.73
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
27 41 111 60 158 75 72 250 438 473
22 32 82 50 125 64 54 216 367 387
Operating Profit 5 10 29 10 33 11 18 34 70 86
OPM % 18% 23% 26% 17% 21% 14% 25% 14% 16% 18%
0 0 0 0 0 1 1 3 5 13
Interest 0 1 2 3 5 5 5 5 6 13
Depreciation 0 1 1 3 4 4 5 6 5 8
Profit before tax 4 8 26 4 25 3 9 27 64 77
Tax % 33% 34% 35% 50% 22% 60% 36% 33% 31% 23%
3 5 17 2 19 1 6 18 44 58
EPS in Rs 1.51 0.78 2.53 0.28 2.92 0.17 0.91 2.74 6.58 8.74
Dividend Payout % 0% 0% 6% 9% 6% 0% 0% 6% 2% 6%
Compounded Sales Growth
10 Years: %
5 Years: 25%
3 Years: 88%
TTM: 8%
Compounded Profit Growth
10 Years: %
5 Years: 25%
3 Years: 111%
TTM: 36%
Stock Price CAGR
10 Years: %
5 Years: 71%
3 Years: 220%
1 Year: 272%
Return on Equity
10 Years: %
5 Years: 27%
3 Years: 35%
Last Year: 37%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 1 3 9 9 11 11 11 11 11 33
Reserves 4 13 24 26 49 48 55 76 117 152
2 10 21 40 35 31 33 28 40 87
12 17 50 63 84 169 167 226 177 353
Total Liabilities 19 43 104 138 179 260 265 342 346 626
10 25 50 85 83 81 132 135 144 174
CWIP 0 0 18 8 10 50 11 11 1 1
Investments 0 0 0 0 0 0 1 5 23 22
9 18 36 45 86 130 121 191 177 429
Total Assets 19 43 104 138 179 260 265 342 346 626

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
7 4 36 12 2 -28 -6 26 28 33
-9 -16 -44 -27 -4 -40 -18 -10 -21 -70
3 13 8 22 1 69 33 -11 -15 47
Net Cash Flow 1 1 0 7 -1 0 9 5 -8 10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 26 68 84 93 64 53 21 23 47 195
Inventory Days 134
Days Payable 197
Cash Conversion Cycle 26 68 84 93 64 53 21 23 47 132
Working Capital Days 15 26 15 -134 21 228 238 24 19 74
ROCE % 52% 70% 11% 35% 7% 13% 24% 45%

Shareholding Pattern

Numbers in percentages

8 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
65.36% 66.43% 66.60% 66.39% 59.56% 44.80% 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% 0.06% 0.19% 0.26% 0.26% 0.32%
34.64% 33.57% 33.40% 33.61% 40.44% 55.20% 55.20% 55.15% 55.01% 54.94% 54.94% 54.87%
No. of Shareholders 1,2592,1954,9997,6668,3369,7549,41411,04414,25816,19718,31243,282

* 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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