Shares of KPI Green Energy surged as much as 0.79% to hit a 52-week high of ₹1,264.95 apiece on the BSE after the company’s subsidiary bagged new orders of 4.66 MW (megawatt) for executing solar power projects.

The scrip opened at ₹1,264.95 as against the previous closing price of ₹1,214.85. At 12:11 pm, the company’s stock surged as much as 0.60% at ₹1,222.10. The company’s market capitalisation stood at ₹4,415.94 crore with 8,408 shares exchanging hands on the BSE against the two-week average of 0.55 lakh shares. The company touched a 52-week low of ₹378.48 on December 12 last year. In the past one month, three month and six months basis, the company’s stock has given 48.82%, 29.42% and 170.18% in returns, respectively.

"We are glad to inform that new orders of 4.66 MW for executing solar power projects received by M/s. Sun Drops Energia Private Limited, is a wholly-owned subsidiary of the Company under the ‘Captive Power Producer (CPP)’ Segment of the Company. We are glad to inform you that, with the addition of the order mentioned above, our cumulative orders of solar power projects, to date have crossed 143+ MW under the CPP segment of the Company," the company says in a statement.

According to the company, the projects are scheduled to be completed in FY25, in various tranches as per the terms of the order.

Last week, Sun Drops Energia received new orders aggregating to 5.70 MW for executing solar power projects under the 'Captive Power Producer (CPP)' segment. The projects are scheduled to be completed in FY24, according to the company. Earlier this month, Sun Drops Energia Private Limited received a new order for executing a wind-solar hybrid Power Project for 2.10 MW capacity comprising of 2.10 MW wind and 1 MW solar capacity from M/s. CTX Life Sciences Pvt. Ltd under its CPP segment. The project is scheduled to be completed in FY24.

The company has an ambitious target of achieving 1,000 MW by 2025.

In the July to September quarter, the company's consolidated profit after tax surged as much as 57% year-on-year (YoY) to ₹57 crore as against ₹34 crore in the same period last year. The company’s consolidated revenue from operations stood at ₹215 crore, surging 43% year-on-year (YoY) as against ₹159 crore in the same period last year. The company’s total income grew by 44% year-on-year to ₹215.95 crore as against ₹160.14 crore in the same period last year. The company’s EBITDA (earnings before interest, tax, depreciation and amortisation) surged by 49% year-on-year to ₹72.04 crore as against ₹53.07 crore in the same period last year.

KPI Green Energy stocks

KPI Green Energy shares hit 52-week high; here's why