New Risk • Aug 17
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (8.2% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 12
First quarter 2027 earnings released: EPS: ₹4.34 (vs ₹5.28 in 1Q 2026) First quarter 2027 results: EPS: ₹4.34 (down from ₹5.28 in 1Q 2026). Revenue: ₹7.10b (up 18% from 1Q 2026). Net income: ₹856.1m (down 23% from 1Q 2026). Profit margin: 12% (down from 19% in 1Q 2026). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Annonce • Aug 05
KPI Green Energy Limited to Report Q1, 2027 Results on Aug 11, 2026 KPI Green Energy Limited announced that they will report Q1, 2027 results on Aug 11, 2026 Reported Earnings • May 07
Full year 2026 earnings released Full year 2026 results: Revenue: ₹27.4b (up 58% from FY 2025). Net income: ₹4.76b (up 49% from FY 2025). Profit margin: 17% (down from 18% in FY 2025). The decrease in margin was driven by higher expenses. Annonce • May 02
KPI Green Energy Limited to Report Q4, 2026 Results on May 06, 2026 KPI Green Energy Limited announced that they will report Q4, 2026 results on May 06, 2026 Reported Earnings • Jan 22
Third quarter 2026 earnings released: EPS: ₹5.97 (vs ₹4.29 in 3Q 2025) Third quarter 2026 results: EPS: ₹5.97 (up from ₹4.29 in 3Q 2025). Revenue: ₹6.63b (up 45% from 3Q 2025). Net income: ₹1.18b (up 39% from 3Q 2025). Profit margin: 18% (in line with 3Q 2025). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jan 16
KPI Green Energy Limited to Report Q3, 2026 Results on Jan 21, 2026 KPI Green Energy Limited announced that they will report Q3, 2026 results on Jan 21, 2026 Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹503, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 25x in the Renewable Energy industry in India. Total returns to shareholders of 406% over the past three years. New Risk • Dec 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). High level of non-cash earnings (59% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Annonce • Dec 18
KPI Green Energy Limited announced that it expects to receive INR 1.1875075 billion in funding from Quyosh Energia Private Limited KPI Green Energy Limited announced a private placement of Up to 10,100,000 convertible warrants at a price of INR 117.575 per warrant for gross proceeds of INR 1,187,507,500 on December 17, 2025. The warrants will be convertible into one common share of the company at INR 352.725 per share and will mature in 18 months from the date of the allotment. The securities will be issued on preferential basis. The transaction has been approved by the board of directors of the company. The transaction included participation from new investor Quyosh Energia Private Limited. Declared Dividend • Nov 09
Second quarter dividend of ₹0.25 announced Shareholders will receive a dividend of ₹0.25. Ex-date: 14th November 2025 Payment date: 7th December 2025 Dividend yield will be 0.2%, which is lower than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (2% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 57% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 99% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Nov 08
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). High level of non-cash earnings (59% accrual ratio). Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: ₹5.53 (vs ₹3.70 in 2Q 2025) Second quarter 2026 results: EPS: ₹5.53 (up from ₹3.70 in 2Q 2025). Revenue: ₹6.41b (up 78% from 2Q 2025). Net income: ₹1.09b (up 56% from 2Q 2025). Profit margin: 17% (down from 19% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Oct 31
KPI Green Energy Limited to Report Q2, 2026 Results on Nov 07, 2025 KPI Green Energy Limited announced that they will report Q2, 2026 results on Nov 07, 2025 Annonce • Sep 27
KPI Green Energy Limited Approves Final Dividend for Financial Year Ended March 31, 2025 KPI Green Energy Limited at Annual General Meeting held on September 26, 2025 approved to declare the final dividend at 4 Percentage i.e. INR 0.20 (Twenty paise only) per Equity Shares of INR 5 each for the financial year ended March 31, 2025. Upcoming Dividend • Sep 05
Upcoming dividend of ₹0.20 per share Eligible shareholders must have bought the stock before 12 September 2025. Payment date: 26 October 2025. Payout ratio is a comfortable 4.1% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (2.0%). Annonce • Sep 01
KPI Green Energy Limited, Annual General Meeting, Sep 26, 2025 KPI Green Energy Limited, Annual General Meeting, Sep 26, 2025, at 11:00 Indian Standard Time. Reported Earnings • Aug 11
First quarter 2026 earnings released: EPS: ₹5.28 (vs ₹3.66 in 1Q 2025) First quarter 2026 results: EPS: ₹5.28 (up from ₹3.66 in 1Q 2025). Revenue: ₹6.03b (up 73% from 1Q 2025). Net income: ₹1.11b (up 68% from 1Q 2025). Profit margin: 19% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 87% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 02
KPI Green Energy Limited to Report Q1, 2026 Results on Aug 05, 2025 KPI Green Energy Limited announced that they will report Q1, 2026 results on Aug 05, 2025 New Risk • Jun 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (62% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Reported Earnings • May 15
Full year 2025 earnings released: EPS: ₹16.23 (vs ₹9.39 in FY 2024) Full year 2025 results: EPS: ₹16.23 (up from ₹9.39 in FY 2024). Revenue: ₹17.6b (up 71% from FY 2024). Net income: ₹3.20b (up 98% from FY 2024). Profit margin: 18% (up from 16% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has increased by 109% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹437, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 27x in the Renewable Energy industry in India. Total returns to shareholders of 745% over the past three years. Annonce • May 10
KPI Green Energy Limited to Report Q4, 2025 Results on May 14, 2025 KPI Green Energy Limited announced that they will report Q4, 2025 results on May 14, 2025 Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹439, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 27x in the Renewable Energy industry in India. Total returns to shareholders of 690% over the past three years. Annonce • Mar 11
KPI Green Energy Limited Announces Appointment of Surinder Kumar Negi as Chief Operating Officer, Effective March 12, 2025 KPI Green Energy Limited announced appointment of Surinder Kumar Negi as Chief Operating Officer and Senior Management Personnel of the Company, With effect from March 12, 2025. Mr. Surinder Kumar Negi is a distinguished power sector professional with over four decades of experience in transmission, engineering, and project management. A graduate in Electrical Engineering from G.B. Pant University, Pantnagar, he has played a pivotal role in power transmission, grid modernization, and infrastructure development. Mr. Negi has held key leadership positions, including Managing Director of Gujarat Energy Transmission Corporation Ltd. (GETCO), where he spearheaded the expansion of Gujarat's transmission network, enhanced grid efficiency, and implemented Smart Grid technologies. Prior to this, he served in senior roles at NTPC, POWERGRID, ALSTOM, and Reliance Energy,
contributing to high-voltage transmission projects, system planning, and privatization initiatives. Mr. Negi serves as the Director of Skipperseil Limited and is also a Director in Manacles Transformers Private Limited. Under his leadership, Skipperseil Ltd. has established advanced transformer manufacturing facilities, optimized EPC operations, and driven renewable energy initiatives in India and Africa. A recipient of prestigious honors, including the CBIP Best Engineer Award (201415) and CIGRE Distinguished Fellow Membership (2016), Mr. Negi's expertise spans strategic leadership, infrastructure development, and technological innovation in the power sector. His visionary
leadership continues to shape the future of energy transmission and sustainable power solutions. New Risk • Feb 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Significant insider selling over the past 3 months (₹18m sold). Recent Insider Transactions • Feb 12
Chairman & MD recently bought ₹2.3m worth of stock On the 10th of February, Farukbhai Patel bought around 5k shares on-market at roughly ₹460 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹5.0m. Farukbhai has been a buyer over the last 12 months, purchasing a net total of ₹28m worth in shares. Upcoming Dividend • Feb 11
Upcoming dividend of ₹0.20 per share Eligible shareholders must have bought the stock before 18 February 2025. Payment date: 08 March 2025. Payout ratio is a comfortable 3.2% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (2.2%). Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹6.44 (vs ₹3.05 in 3Q 2024) Third quarter 2025 results: EPS: ₹6.44 (up from ₹3.05 in 3Q 2024). Revenue: ₹4.66b (up 41% from 3Q 2024). Net income: ₹845.0m (up 67% from 3Q 2024). Profit margin: 18% (up from 15% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 110% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Feb 06
KPI Green Energy Limited Approves Third Interim Dividend for the Financial Year 2024-25 KPI Green Energy Limited informed that the Board of Directors of the Company at its meeting held on February 6, 2025, approved and declared Third Interim Dividend at 4% i.e. INR 0.20 (Twenty Paisa Only) per equity share having face value of INR 5/- each, on the equity share capital of the Company for the financial year 2024-25. The Record date for payment of this interim dividend is February 18, 2025. The Dividend shall be paid within 30 days from the date of its declaration to the shareholders whose name appears in the Register of Members as on the Record date. Annonce • Feb 03
KPI Green Energy Limited to Report Q3, 2025 Results on Feb 06, 2025 KPI Green Energy Limited announced that they will report Q3, 2025 results on Feb 06, 2025 Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹352, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 29x in the Renewable Energy industry in India. Total returns to shareholders of 540% over the past three years. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹483, the stock trades at a trailing P/E ratio of 41.4x. Average trailing P/E is 31x in the Renewable Energy industry in India. Total returns to shareholders of 965% over the past three years. Recent Insider Transactions • Jan 02
Chairman & MD recently bought ₹5.0m worth of stock On the 24th of December, Farukbhai Patel bought around 6k shares on-market at roughly ₹797 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Farukbhai has been a buyer over the last 12 months, purchasing a net total of ₹26m worth in shares. Annonce • Dec 31
KPI Green Energy Limited Obtains Approvals from the Chief Electrical Inspector for 28.28 Mw of Solar Power Projects Under CPP Business Segment KPI Green Energy Limited have obtained approvals from the Chief Electrical Inspector (CEIG) for 28.28 MW of solar power projects under CPP business segment. These projects were executed for esteemed client of M/s KPI Green Energy Limited and M/s KPIG Energia Private Limited, wholly owned subsidiary of the Company. Furthermore, the approval from the Chief Electrical Inspector (CEIG) has been received in the name of the respective client. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: ₹5.55 (vs ₹3.21 in 2Q 2024) Second quarter 2025 results: EPS: ₹5.55 (up from ₹3.21 in 2Q 2024). Revenue: ₹3.60b (up 67% from 2Q 2024). Net income: ₹698.3m (up 101% from 2Q 2024). Profit margin: 19% (up from 16% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has increased by 189% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹845, the stock trades at a trailing P/E ratio of 52.4x. Average forward P/E is 21x in the Renewable Energy industry in India. Total returns to shareholders of 2,478% over the past three years. Annonce • Oct 31
KPI Green Energy Limited to Report Q2, 2025 Results on Nov 06, 2024 KPI Green Energy Limited announced that they will report Q2, 2025 results on Nov 06, 2024 Upcoming Dividend • Sep 27
Upcoming dividend of ₹0.20 per share Eligible shareholders must have bought the stock before 04 October 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 2.6% but the company is not cash flow positive. The company last paid an ordinary dividend in November 2021. The average dividend yield among industry peers is 1.5%. Annonce • Sep 04
KPI Green Energy Limited, Annual General Meeting, Sep 25, 2024 KPI Green Energy Limited, Annual General Meeting, Sep 25, 2024, at 11:00 Indian Standard Time. Recent Insider Transactions • Aug 29
Chairman & MD recently bought ₹5.0m worth of stock On the 27th of August, Farukbhai Patel bought around 5k shares on-market at roughly ₹909 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹5.0m. Farukbhai has been a buyer over the last 12 months, purchasing a net total of ₹26m worth in shares. Recent Insider Transactions • Aug 21
Chief Operating Officer recently sold ₹33m worth of stock On the 12th of August, Shaheedul Hasan sold around 30k shares on-market at roughly ₹1,100 per share. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹294m. Shaheedul has been a net seller over the last 12 months, reducing personal holdings by ₹93m. Declared Dividend • Aug 10
Dividend of ₹0.20 announced Shareholders will receive a dividend of ₹0.20. Ex-date: 21st August 2024 Payment date: 7th September 2024 Dividend yield will be 0.04%, which is lower than the industry average of 1.3%. Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: ₹10.97 (vs ₹3.07 in 1Q 2024) First quarter 2025 results: EPS: ₹10.97 (up from ₹3.07 in 1Q 2024). Revenue: ₹3.50b (up 85% from 1Q 2024). Net income: ₹661.1m (up 99% from 1Q 2024). Profit margin: 19% (up from 18% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 261% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 08
KPI Green Energy Limited Declares Interim Dividend KPI Green Energy Limited at its board meeting held on August 8, 2024, declared Interim Dividend at 4%, that is INR 0.20 per equity share having face value of INR 5 each, on the equity share capital of the Company for the fiscal year 2024-25. The Record date for payment of this interim dividend is August 21, 2024. The Dividend shall be paid within 30 days from the date of its declaration to the shareholders whose name appears in the Register of Members as on the Record date. Annonce • Aug 05
KPI Green Energy Limited to Report Q1, 2025 Results on Aug 08, 2024 KPI Green Energy Limited announced that they will report Q1, 2025 results on Aug 08, 2024 Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorates as stock falls 42% After last week's 42% share price decline to ₹1,070, the stock trades at a trailing P/E ratio of 39.9x. Average forward P/E is 23x in the Renewable Energy industry in India. Total returns to shareholders of 96% over the past year. Recent Insider Transactions • Jun 04
Whole time Director recently sold ₹294m worth of stock On the 30th of May, Mohmed Sohil Dabhoya sold around 164k shares on-market at roughly ₹1,785 per share. This transaction amounted to 65% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹351m more than they bought in the last 12 months. Recent Insider Transactions • May 03
Chairman & MD recently bought ₹5.0m worth of stock On the 30th of April, Farukbhai Patel bought around 3k shares on-market at roughly ₹1,808 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Farukbhai has been a buyer over the last 12 months, purchasing a net total of ₹12m worth in shares. Reported Earnings • Apr 26
Full year 2024 earnings released: EPS: ₹28.17 (vs ₹20.23 in FY 2023) Full year 2024 results: EPS: ₹28.17 (up from ₹20.23 in FY 2023). Revenue: ₹10.3b (up 60% from FY 2023). Net income: ₹1.62b (up 48% from FY 2023). Profit margin: 16% (down from 17% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Renewable Energy industry in India. Annonce • Apr 26
KPI Green Energy Limited Recommends Final Dividend for the Financial Year 2023-24 KPI Green Energy Limited at its board of directors meeting held on April 25, 2024, Recommended Final Dividend at 2% that is, INR 0.20 per equity share of the face value of INR 10.00 each for the financial year 2023-24, subject To Approve the Shareholders at upcoming Annual General Meeting of the Company. Annonce • Apr 21
KPI Green Energy Limited to Report Q4, 2024 Results on Apr 25, 2024 KPI Green Energy Limited announced that they will report Q4, 2024 results on Apr 25, 2024 Recent Insider Transactions • Mar 23
Independent Director recently bought ₹253k worth of stock On the 19th of March, Shanker Baheria bought around 171 shares on-market at roughly ₹1,481 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹999k. Despite this recent purchase, insiders have collectively sold ₹68m more in shares than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹1,453, the stock trades at a trailing P/E ratio of 58.3x. Average trailing P/E is 28x in the Renewable Energy industry in India. Total returns to shareholders of 400% over the past year. Recent Insider Transactions • Mar 15
Independent Director recently bought ₹589k worth of stock On the 12th of March, Shanker Baheria bought around 345 shares on-market at roughly ₹1,708 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth ₹999k. Despite this recent purchase, insiders have collectively sold ₹68m more in shares than they bought in the last 12 months. Recent Insider Transactions • Mar 09
Chairman & MD recently bought ₹999k worth of stock On the 1st of March, Farukbhai Patel bought around 570 shares on-market at roughly ₹1,752 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Farukbhai has been a buyer over the last 12 months, purchasing a net total of ₹7.2m worth in shares. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹1,638, the stock trades at a trailing P/E ratio of 65.7x. Average trailing P/E is 36x in the Renewable Energy industry in India. Total returns to shareholders of 474% over the past year. New Risk • Feb 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: ₹9.15 (vs ₹6.36 in 3Q 2023) Third quarter 2024 results: EPS: ₹9.15 (up from ₹6.36 in 3Q 2023). Revenue: ₹3.31b (up 85% from 3Q 2023). Net income: ₹506.1m (up 47% from 3Q 2023). Profit margin: 15% (down from 19% in 3Q 2023). The decrease in margin was driven by higher expenses. Annonce • Feb 10
KPI Green Energy Limited to Report Q3, 2024 Results on Feb 14, 2024 KPI Green Energy Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹1,821, the stock trades at a trailing P/E ratio of 54.6x. Average trailing P/E is 27x in the Renewable Energy industry in India. Total returns to shareholders of 305% over the past year. Board Change • Jan 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Additional Non-Executive Non-Independent Director Amitkumar Khandelwal was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 22
Second quarter 2024 earnings released: EPS: ₹9.62 (vs ₹5.86 in 2Q 2023) Second quarter 2024 results: EPS: ₹9.62 (up from ₹5.86 in 2Q 2023). Revenue: ₹2.15b (up 35% from 2Q 2023). Net income: ₹347.5m (up 64% from 2Q 2023). Profit margin: 16% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,380, the stock trades at a trailing P/E ratio of 38.8x. Average trailing P/E is 20x in the Renewable Energy industry in India. Total returns to shareholders of 200% over the past year. New Risk • Dec 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks High level of debt (176% net debt to equity). Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Annonce • Dec 06
KPI Green Energy Limited (BSE:542323) completed the acquisition of 99.9% stake in Kpark Sunbeat Private Limited from Faruk G. Patel. KPI Green Energy Limited (BSE:542323) agreed to acquire 99.9% stake in Kpark Sunbeat Private Limited from Faruk G. Patel for INR 1.4 billion on October 11, 2023. The purchase consideration payable shall be discharged by way of issue of 1.52 million shares and cash. Kpark reported turnover of INR 1.5 million for the last financial year 2023. The transaction has been approved by the Board of Directors of KPI Green. The transaction is subject to KPI shareholder approval and is expected to be completed in the next 2 to 3 months.
KPI Green Energy Limited (BSE:542323) completed the acquisition of 99.9% stake in Kpark Sunbeat Private Limited from Faruk G. Patel on December 4, 2023. New Risk • Dec 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks High level of debt (176% net debt to equity). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Annonce • Dec 05
KPI Green Energy Limited announced that it has received INR 1.260566172 billion in funding On December 4, 2023, KPI Green Energy Limited closed the transaction. Annonce • Dec 04
KPI Green Energy Limited Announces Board Appointments KPI Green Energy Limited at its board meeting held on December 4, 2023 appointed Mr. Amitkumar Subhashchandra Khandelwal and Dr. Tejpalsingh Jagatsingh Bisht as Additional Directors (Non-Executive Non-Independent) with effect from December 4, 2023. Mr. Amitkumar Subhashchandra Khandelwal is a seasoned professional with a wealth of knowledge and experience. He holds a Bachelor of Engineering degree in Production from Sardar Vallabhbhai National Institute of Technology, Surat, and a Post Graduate Diploma in Finance Management from The Maharaja Sayajirao University, Vadodara. Additionally, he has completed a course on lead Auditing for Quality Management Systems. With a career spanning over two decades, Mr. Khandelwal has demonstrated his expertise in diverse sectors, including Telecom, Automotive, Pharmaceutical, Manufacturing, Solar, and Transmission industries. Dr. Tejpal Singh Bisht, a member of Indian Police Service from 1985 batch of Gujarat Cadre, holds a diverse academic background with a Gold Medal in M.A.(Economics) from Allahabad University and Ph.D. in Environmental Economics from Saurashtra University. With a career spanning more than three and half decades, he has held key positions in Gujarat Police department such as Superintendent of Police, Inspector General of Police, and eventually rose to the prestigious role of Director General of Police, CID Crime & Railways, Gujarat State. Dr. Bisht has a rich professional journey, starting from his early days at the Reserve Bank of India in Mumbai to commanding the SRPF in Rajkot and overseeing traffic management in Ahmedabad City. He has worked closely with various departments in the Govt of Gujarat in his capacity as Secretary, Home Department. He has also represented the Home Department on the Board of Governors in Gujarat Forensic Sciences University and Raksha Shakti University. Additionally, Dr. Bisht's international exposure includes representing India in conferences on narcotics, money laundering, and terrorism, showcasing his commitment to global security. He has attended conferences/seminars in UK, Singapore, and UAE. His distinguished service and accomplishments make him a seasoned professional in the realm of law enforcement, public policy and governance. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹961, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 15x in the Renewable Energy industry in India. Total returns to shareholders of 129% over the past year. Annonce • Oct 13
KPI Green Energy Limited (BSE:542323) agreed to acquire 99.9% stake in Kpark Sunbeat Private Limited from Faruk G. Patel for INR 1.4 billion. KPI Green Energy Limited (BSE:542323) agreed to acquire 99.9% stake in Kpark Sunbeat Private Limited from Faruk G. Patel for INR 1.4 billion on October 11, 2023. The purchase consideration payable shall be discharged by way of issue of 1.52 million shares and cash. Kpark reported turnover of INR 1.5 million for the last financial year 2023. The transaction has been approved by the Board of Directors of KPI Green. The transaction is subject to KPI shareholder approval and is expected to be completed in the next 2 to 3 months. Reported Earnings • Oct 10
Second quarter 2024 earnings released: EPS: ₹9.62 (vs ₹5.86 in 2Q 2023) Second quarter 2024 results: EPS: ₹9.62 (up from ₹5.86 in 2Q 2023). Revenue: ₹2.16b (up 35% from 2Q 2023). Net income: ₹347.5m (up 64% from 2Q 2023). Profit margin: 16% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. 
