KPI Green Energy Stock Surges on Major Project Wins in 2025

KPI Green Energy Shares Rally on Strategic Project Wins

Shares of KPI Green Energy Ltd experienced a significant rally, surging 17.19% to a high of Rs 473.45. The stock saw unusually high trading volumes, with approximately 35.79 million shares changing hands, far exceeding the two-week average of 1.23 million shares. This market activity was driven by a series of strategic announcements, including the acquisition of major renewable energy projects and a planned fundraise, highlighting the company's expanding footprint in the clean energy sector.

Diversification into Green Hydrogen with NTPC

A key development was the receipt of three Notifications of Award (NOA) from NTPC Ltd for a green hydrogen generation project. This project will utilize plasma gasification, a waste-to-energy process that converts municipal solid waste and agricultural waste into synthesis gas for producing green hydrogen. The plant, with a capacity of 1 Ton Per Day (TPD), will be established at NETRA, NTPC Greater Noida. This marks KPI Green Energy's first venture into the green hydrogen segment and is one of India's early plasma gasification-based hydrogen initiatives. The aggregate contract value for this project is Rs 128.49 crore, signaling a strategic expansion beyond its core solar, wind, and hybrid projects.

Landmark Floating Solar Project from GSECL

Further strengthening its project pipeline, KPI Green Energy secured a landmark Engineering, Procurement, and Construction (EPC) contract from Gujarat State Electricity Corporation Limited (GSECL). The contract is for the development of a 142 MW (DC) floating solar photovoltaic project at the Kadana Dam in Gujarat. Valued at Rs 489.17 crore, the project is scheduled for completion within 18 months and includes a 10-year operation and maintenance (O&M) contract. This large-scale floating solar project reinforces the company's capabilities in executing complex renewable infrastructure.

Additional Contracts and International Expansion

The company's order book was further bolstered by a contract agreement with SJVN Limited for a 200 MW solar power project at the GIPCL Renewable Energy Park in Khavda, Gujarat. This EPC contract is valued at Rs 696.50 crore. On the international front, KPI Green Energy's parent company, KP Group, signed a Memorandum of Understanding (MoU) with the Government of Botswana to collaborate on large-scale renewable energy infrastructure. This partnership supports Botswana's net-zero ambitions and marks a significant step in KP Group's global expansion strategy.

Financial Performance and Key Metrics

KPI Green Energy has demonstrated strong financial performance. For the quarter ending September 2025, the company reported consolidated net sales of Rs 634.30 crore, a substantial 76.35% year-on-year increase. Net profit for the same period grew by 67.0% YoY. The company's Trailing Twelve Months (TTM) Earnings Per Share (EPS) stood at Rs 20.10, marking a 72.37% YoY growth.

Stock Performance Overview

The stock's recent performance reflects positive investor sentiment. It opened at Rs 415.00, significantly higher than its previous close of Rs 404.85, and reached an intraday high of Rs 485.00. The stock is currently trading 19.46% away from its 52-week high of Rs 588.80, with a 52-week low of Rs 313.40.

Strategic Fundraising Initiative

To support its growth initiatives, the company's board has approved a fundraise of Rs 475 crore. This will be done through the issuance of up to 1.1 crore fully convertible equity warrants to a promoter group entity, Quyosh Energia, on a preferential basis. The issue price is set at Rs 470.30 per warrant. This capital infusion is expected to strengthen the company's financial position for future projects. Promoter holding remained stable at 48.67% as of the September 2025 quarter.

Market Outlook and Analysis

KPI Green Energy's strategic moves into green hydrogen and large-scale floating solar projects position it well within India's clean energy transition. The consistent project wins from reputable government entities like NTPC, GSECL, and SJVN underscore its execution capabilities. The company's healthy financial ratios, including strong revenue growth and a manageable debt level, provide a solid foundation for its ambitious expansion plans. With community sentiment strongly in favor (92% Buy), the outlook appears positive, contingent on the successful and timely execution of its large and diverse project pipeline.