KPI Green Energy Ltd

KPI Green Energy Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

KPI Green Energy Ltd

₹ 818 5.00%
03 Dec - close price
kpigreenenergy.com BSE: 542323 NSE: KPIGREEN
About

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

Key Points

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 158 MW+[2] of solar power under IPP segment and 287 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.

Website BSE NSE
  • Market Cap ₹ 10,733 Cr.
  • Current Price ₹ 818
  • High / Low ₹ 1,118 / 374
  • Stock P/E 68.2
  • Book Value ₹ 140
  • Dividend Yield 0.05 %
  • ROCE 17.0 %
  • ROE 21.3 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 84.1% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.9%

Cons

  • Promoter holding has decreased over last quarter: -4.32%
  • Promoters have pledged 45.5% of their holding.
  • Company has high debtors of 153 days.
  • Company's cost of borrowing seems high
  • Working capital days have increased from 166 days to 335 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: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
55 58 70 116 136 140 95 110 171 275 168 310 310
32 30 36 78 91 92 72 68 117 189 103 203 228
Operating Profit 23 28 34 38 45 47 23 42 54 86 65 107 82
OPM % 42% 49% 49% 33% 33% 34% 24% 38% 32% 31% 39% 35% 27%
0 0 1 0 0 0 2 1 1 1 3 1 1
Interest 8 9 13 8 9 9 11 17 16 21 22 25 19
Depreciation 2 3 4 5 5 5 5 8 9 9 10 13 13
Profit before tax 15 16 18 25 32 34 9 17 30 58 35 71 51
Tax % 18% 23% 31% 8% 41% 19% 9% 23% 21% 29% 27% 26% 28%
12 13 12 23 19 28 9 13 24 41 26 53 37
EPS in Rs 1.10 1.15 1.12 2.16 1.73 2.54 0.80 1.23 2.19 3.38 2.14 4.36 2.81
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
0 0 0 27 26 32 34 59 102 219 488 724 1,064
0 0 0 13 8 13 19 32 38 113 334 477 723
Operating Profit 0 0 0 15 17 19 15 27 64 106 154 247 341
OPM % 54% 68% 59% 45% 46% 62% 49% 32% 34% 32%
0 0 0 0 0 -0 6 0 0 1 3 5 5
Interest 0 0 0 1 2 3 4 8 25 36 37 76 87
Depreciation 0 0 0 3 2 8 4 7 16 14 19 35 44
Profit before tax 0 0 0 12 14 8 13 12 23 58 101 141 214
Tax % 33% 40% 2% 31% 46% 36% 23% 22% 26%
0 0 0 8 8 7 9 6 15 45 78 104 156
EPS in Rs 0.00 0.00 0.00 3.66 2.46 0.95 0.82 0.60 1.34 4.12 7.22 8.60 12.69
Dividend Payout % 0% 0% 0% 0% 0% 0% 4% 13% 3%
Compounded Sales Growth
10 Years: %
5 Years: 84%
3 Years: 92%
TTM: 106%
Compounded Profit Growth
10 Years: %
5 Years: 84%
3 Years: 92%
TTM: 114%
Stock Price CAGR
10 Years: %
5 Years: 161%
3 Years: 162%
1 Year: 107%
Return on Equity
10 Years: %
5 Years: 24%
3 Years: 28%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 0.05 0.05 0.05 4 6 13 18 18 18 18 36 60 66
Reserves 0 0 0 10 26 36 81 80 94 137 192 688 1,766
0 0 0 14 31 44 40 139 286 352 600 977 363
1 1 12 26 20 14 22 61 51 174 207 381 257
Total Liabilities 1 1 12 54 83 107 161 298 450 682 1,035 2,106 2,451
0 0 0 31 58 49 84 203 297 403 673 704 809
CWIP 0 0 0 1 8 34 18 1 3 0 0 78 120
Investments 0 0 0 0 0 0 0 0 22 66 67 214 406
1 1 12 21 17 25 59 94 128 213 295 1,110 1,117
Total Assets 1 1 12 54 83 107 161 298 450 682 1,035 2,106 2,451

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 0 0 14 9 7 -17 30 19 122 107 -135
0 0 0 -25 -36 -29 -15 -109 -130 -153 -288 -373
0 0 0 14 25 23 33 87 122 29 206 591
Net Cash Flow 0 0 0 3 -2 0 1 8 11 -3 24 82

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 30 17 150 143 175 178 57 40 153
Inventory Days 203 167 295
Days Payable 208 164 276
Cash Conversion Cycle 30 12 150 143 175 178 57 43 172
Working Capital Days 89 38 129 404 61 255 94 70 335
ROCE % 0% 0% 35% 14% 9% 11% 15% 21% 21% 17%

Shareholding Pattern

Numbers in percentages

3 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
54.45% 54.52% 54.68% 54.70% 54.81% 54.81% 54.81% 54.83% 53.08% 53.08% 53.09% 48.77%
0.00% 2.77% 3.26% 2.42% 2.50% 2.54% 3.48% 4.24% 5.96% 5.60% 6.05% 9.95%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.00% 2.09% 0.63% 0.33% 1.50%
45.55% 42.71% 42.05% 42.88% 42.69% 42.64% 41.66% 40.91% 38.86% 40.69% 40.51% 39.80%
No. of Shareholders 6,4549,57517,56628,48534,51642,51247,86359,42081,4361,54,8941,95,7752,58,693

* 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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