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 ₹ 9,183 Cr.
- Current Price ₹ 1,523
- High / Low ₹ 1,896 / 276
- Stock P/E 60.9
- Book Value ₹ 53.9
- Dividend Yield 0.07 %
- ROCE 24.7 %
- ROE 53.4 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.8%
- Debtor days have improved from 107 to 83.2 days.
- Company's working capital requirements have reduced from 173 days to 76.1 days
Cons
- Stock is trading at 28.3 times its book value
- Promoter holding has decreased over last quarter: -1.75%
- Company might be capitalizing the interest cost
- Promoters have pledged 45.5% of their holding.
* 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 | TTM | |
---|---|---|---|---|---|---|
34 | 59 | 102 | 230 | 644 | 917 | |
19 | 32 | 44 | 121 | 435 | 619 | |
Operating Profit | 15 | 27 | 58 | 109 | 208 | 298 |
OPM % | 45% | 46% | 57% | 47% | 32% | 33% |
6 | 0 | 0 | 1 | 3 | 5 | |
Interest | 4 | 8 | 16 | 37 | 47 | 74 |
Depreciation | 4 | 7 | 13 | 14 | 23 | 35 |
Profit before tax | 13 | 12 | 30 | 59 | 142 | 194 |
Tax % | 31% | 46% | 27% | 27% | 23% | |
9 | 6 | 22 | 43 | 110 | 150 | |
EPS in Rs | 1.64 | 1.19 | 4.04 | 7.98 | 20.23 | 26.80 |
Dividend Payout % | 0% | 0% | 0% | 4% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 122% |
TTM: | 71% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 157% |
TTM: | 72% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 130% |
3 Years: | 366% |
1 Year: | 447% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 39% |
Last Year: | 53% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|
Equity Capital | 18 | 18 | 18 | 18 | 36 | 36 |
Reserves | 81 | 80 | 102 | 136 | 222 | 289 |
40 | 139 | 240 | 446 | 676 | 838 | |
22 | 61 | 49 | 177 | 322 | 234 | |
Total Liabilities | 161 | 298 | 409 | 777 | 1,255 | 1,397 |
84 | 213 | 244 | 482 | 801 | 859 | |
CWIP | 18 | 1 | 21 | 31 | 0 | 3 |
Investments | 0 | 0 | 0 | 0 | 2 | 2 |
59 | 85 | 144 | 264 | 453 | 533 | |
Total Assets | 161 | 298 | 409 | 777 | 1,255 | 1,397 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|
-17 | 40 | -27 | 102 | 159 | |
-15 | -119 | -63 | -189 | -309 | |
33 | 87 | 101 | 91 | 177 | |
Net Cash Flow | 1 | 8 | 11 | 4 | 27 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|
Debtor Days | 143 | 175 | 178 | 58 | 83 |
Inventory Days | |||||
Days Payable | |||||
Cash Conversion Cycle | 143 | 175 | 178 | 58 | 83 |
Working Capital Days | 404 | 67 | 282 | 160 | 76 |
ROCE % | 11% | 16% | 20% | 25% |
Documents
Announcements
- Closure of Trading Window 1d
-
Bagging Of 100MWAC Solar Power Project Under Tender Issued By MAHAGENCO
16 Mar - KPI Green Energy Limited has been awarded an order of 100 MWAC Solar Power Project order by MAHAGENCO. Disclosure is attached herewith.
- Bagging Of 50MW (Comprising Of 16.80 MW Wind And 50MW Solar) Wind-Solar Hybrid Power Project Order 14 Mar
- KPI Green Energy Limited Bags An Order For Development Of 305Mwac Solar Power Projects Being Part Of Wind-Solar Hybrid Power Project From Aditya Birla Renewables Subsidiary Limited And ABREL (RJ) Projects Limited. 8 Mar
- Intimation Of Receiving New Orders Of 9.40 MW Solar Power Plant Under CPP Segment 6 Mar
Annual reports
Concalls
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Feb 2024TranscriptNotesPPT
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Nov 2023TranscriptNotesPPT
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Jun 2023TranscriptPPTREC
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Jun 2023TranscriptNotesPPT REC
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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][2]
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 its Bharuch plant. Currently, company has an installed capacity of 100 MW of solar power under IPP segment and 100 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.