During Monday’s morning trading session, the shares of a part of KP Group focused on providing solar and hybrid power through different business verticals surged nearly 4.9 percent to Rs. 838 on BSE, following the final execution and commissioning of a 15 MW solar power project facility in Gujarat.
With a market cap of Rs. 10,873.6 crores, at 10:50 a.m., the shares of KPI Green Energy Limited were trading in the green at Rs. 828.4, up by around 3.7 percent, as against its previous closing price of Rs. 798.8.
What’s the News:
According to the latest regulatory filings with the stock exchanges, the 15 MW Solar Power Project, developed under the Captive Power Producer (CPP) segment, has been fully commissioned by KPIG Energia Private Limited as of 30th December 2024.
The project is now fully operational and powering to Aether Industries’ manufacturing facilities. This marks a significant milestone in the Aether’s journey toward sustainability and the adoption of renewable energy solutions.
With annual energy cost savings projected to exceed Rs. 150 million, the initiative is also expected to make a substantial contribution to reducing Aether’s carbon footprint.
Related News:
On 6th February, Aether Industries Limited placed an order for the execution of a 15 MW Solar Power Project featuring Auto-Tracker Modules, under the Captive Power Producer (CPP) segment with KPIG Energia Private Limited, a wholly-owned subsidiary of KPI Green Energy Limited.
The project aims to meet the energy requirements of Aether’s manufacturing facilities by replacing conventional energy sources with renewable energy solutions.
In alignment with the global need for a greener planet, Aether remains proactive in its dedication to sustainable development, marking another milestone in the Company’s journey toward a more sustainable future.
About Aether Industries:
Incorporated in 2013, Aether Industries Limited is engaged in the business of Specialty Chemicals and Intermediates.
The company’s products find application in various sectors like pharmaceuticals, agrochemicals, specialty, electronic chemicals, material sciences, high-performance photography etc.
With a market cap of Rs. 11,815.2 crores, at 10:51 a.m., the shares of Aether Industries were trading in the green at Rs. 891.15, up by around 2.4 percent, as against its previous closing price of Rs. 869.95.
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Financials:
KPI Green Energy reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 67.4 percent, rising from Rs. 215 crores in Q2 FY24 to Rs. 360 crores in Q2 FY25.
Similarly, the company’s net profit increased from Rs. 35 crores to Rs. 70 crores over the same period, representing an impressive growth of around 100 percent YoY.
Stock Performance:
The stock has delivered positive returns of nearly 74.2 percent in one year, while around 7 percent of negative returns in the last six months. So far in 2024, the share of KPI Green Energy has given positive returns of about 74 percent.
About the Company:
KPI Green Energy Limited, a part of KP Group, is engaged in the business of developing, building, owning, operating and maintaining solar power plants as an Independent Power Producer (IPP) and Captive Power Producer (CPP) both under the brand name of ‘Solarism’.
Both these businesses, IPP and CPP, are currently carried out at a plant located in the district of Bharuch, Gujarat (Solarism Plant).
Written by Shivani Singh
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