KPI Green Energy will hold a meeting of the Board of Directors of the Company on 14 November 2024Powered by Capital Market - Live

KPI Green Energy announced the appointment of Dr. Alok Das as the Group Chief Executive Officer (Group CEO) with effect from 11 November 2024. Powered by Capital Market - Live

KPI Green Energy announced that the Board of Directors of the Company at its meeting held on 6 November 2024, inter alia, have recommended the Second Interim dividend of Rs 0.2 per equity Share (i.e. 4%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of KPI Green Energy rose 101.24% to Rs 69.93 crore in the quarter ended September 2024 as against Rs 34.75 crore during the previous quarter ended September 2023. Sales rose 67.24% to Rs 359.68 crore in the quarter ended September 2024 as against Rs 215.07 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales359.68215.07 67 OPM %37.1733.09 - PBDT112.2553.58 109 PBT97.6243.89 122 NP69.9334.75 101 Powered by Capital Market - Live

KPI Green Energy will hold a meeting of the Board of Directors of the Company on 6 November 2024Powered by Capital Market - Live

KPI Green Energy has successfully signed Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) for 620MWAC (917MWDC) renewable energy projects as mentioned below: (i) 250 MWAC (275MWDC) grid connected Solar Photovoltaic Power Project won through competitive bidding process vide RFS No. GUVNL / 500 MW / Solar (Phase-XXIV) dated 15 March 2024 issued by GUVNL for Procurement of Power from 500 MW grid connected Solar Photovoltaic Power projects located at anywhere in India with Greenshoe option of additional capacity upto 500MW without energy storage. (ii) 370 MWAC (642MWDC) grid-connected Hybrid RE Power Project won through competitive bidding process vide RFS No. GUVNL / 500 MW / Hybrid RE (Phase-II) dated 14 February 2024 issued by GUVNL for procurement of power through competitive bidding process (followed by reverse e-auction) from 500 MW Hybrid RE project (Phase - II) with Greenshoe option of additional capacity upto 500MW without energy storage.Powered by Capital Market - Live

KPI Green Energy has received approvals from the Chief Electrical Inspector (CEIG) (charging approval) for 5 MW of solar power project under the company's CPP business segment. This project was executed for KPIG Energia, wholly owned subsidiary of the Company. Powered by Capital Market - Live

KPI Green Energy announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2024.Powered by Capital Market - Live

KPI Green Energy announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2024.Powered by Capital Market - Live

The agency has also revised its outlook on these ratings to 'positive' from 'stable'. Concurrently, ICRA has reaffirmed the company's short-term rating at '[ICRA] A2+'. ICRA stated that the ratings upgrade considers an improvement in the Group's capital structure, post the fund-raising of Rs. 1,000 crore by KPI Green through the qualified institutional placement (QIP) route in August 2024, which has been mainly utilised to prepay the entire outstanding debt under KPI Green. Also, the part proceeds from the QIP will be used to meet the equity requirement of the recently awarded utility scale independent power producer (IPP) projects under KPI Green. The rating action also factors in a healthy improvement in the Group's scale and profitability inFY2024 and the current fiscal, driven by higher execution of captive power plant (CPP)/engineering, procurement and construction (EPC) orders and the commissioning of the additional IPP capacity. The ratings also factor in the extensive experience of the key promoter in the renewable energy sector and allied power plant setting-up activities. The ratings derive comfort from the long-term and medium-term power purchase agreements (PPA) for its IPP capacities with reputed counterparties and a track record of timely payment of bills from them. The ratings are constrained by the expected moderation in the leverage and coverage metrics of the Group in the medium term owing to the debt-funded nature of the large pipeline of the under-development utility-scale IPP projects of ~1.2-GW (DC)along with the increase in the working capital debt to support the growing CPP order book. Also, the Group remains exposed to the risk of timely execution of the IPP projects without any major cost overruns. The ratings are further constrained by the geographical concentration risk as the Group's entire power generation capacities (IPP+CPP) are in Gujarat. KPI Green Energy is engaged in solar power generation. It provides solar power, both as an independent power producer (IPP) and as a service provider (EPC contractor), to CPP customers. The scrip shed 0.92% to currently trade at Rs 886.05 on the BSE. Powered by Capital Market - Live