Electric Utilities company KPI Green Energy announced Q2FY24 and H1FY24 results: Q2FY24: Q2FY24 IPP segment saw a 32% decline in units generated (Rs 2.92 crore) compared to Q1FY24 (Rs 4.31 crore) due to seasonal and prolonged monsoon effects, resulting in IPP Sales decrease from Rs 42.10 crore to Rs 30.28 crore. Q2FY24 consolidated CPP Sales increased by 25% to Rs 183.89 crore from Q1FY24's Rs 146.98 crore. H1FY24: H1FY24 consolidated CPP Sales grew by 35% (Rs 330.87 crore) compared to H1FY23 (Rs 245.54 crore), while IPP Sales increased by 99% to Rs 72.38 crore In H1FY24, the Company energized a total of 33.00+ MW, reaching a cumulative capacity of 346+ MW. The Company secured a significant order for a 145.20 MW Hybrid CPP and a 240 MW DC bid from GUVNL under the IPP Segment. The total order book stands at 541+ MW, moving closer to the 1000 MW target by 2025. Consolidated net profit for H1FY24 is Rs 68.01 crore, a 57% increase from H1FY23. Quarterly EPS for H1FY24 is Rs 18.82, compared to Rs 12.01 in H1FY23. External rating reaffirmed at [ICRA]A- (Stable) for the long term. Long-term borrowings increased by Rs 27.45 crore from Rs 409.12 crore on March 21, 2023, to Rs 436.57 crore on September 30, 2023, primarily for the capex of the Hybrid plant, leading to a corresponding Rs 61.26 crore increase in fixed assets. Result PDF
Electric Utilities company KPI Green Energy announced Q1FY24 results: During the Q1FY24, on a Consolidated basis, the Company has energised a total of 26.50 MW and has bagged the single largest order of Hybrid CPP of 40 MW. During Q1FY24, the Company achieved an extraordinary milestone of energising 7 wind turbines at a virgin location in South Gujarat including 1 turbine of its own for the Hybrid IPP Project. In comparison the Q1FY23, the consolidated CPP Sales of Q1FY24, grew 42% from Rs 103.01 crore (Q1FY23) to Rs 146.98 crore (Q1FY24), while that under the Independent Power Producer (IPP) grew by 118% from Rs 19.33 crore (Q1FY23) to Rs 42.10 crore (Q1FY24). The Consolidated Total Revenue reported has increased by 55% from Rs 122.81 crore in Q1FY23 to Rs 190.57 crore in Q1FY24. The consolidated net profit for Q1FY24 is reported at Rs 33.26 crore as against that of Rs 22.23 crore in Q1FY23 which shows an increase of 49%. As a result of growth in net profit, the Company has recorded a quarterly EPS of Rs 9.20 in Q1FY24 with that of Q1FY23 at Rs 6.15. The external rating of the Company has been reaffirmed at [ICRA]A- (Stable) for the long term at an enhanced rated amount. Result PDF
Conference Call with KPI Green Energy Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Electric Utilities company KPI Green Energy announced Q4FY23 & FY23 results: The YoY growth on a consolidated basis, soared by 179% from Rs 23,151 Lakh to Rs 64,703 Lakh and it also registered a quarterly growth from Rs 17,966 Lakh to Rs 18,441 Lakh as compared to Q3FY23 On a standalone basis, the growth reported was 123% from Rs 22,050 Lakh to Rs 49,076 Lakh. On a quarterly comparison, the revenue went from Rs 14,005 Lakh to Rs 9,759 Lakh as compared to Q3FY23 The net consolidated cash generated from operating activities, grew substantially by 56 % from Rs 10,238 Lakh to Rs 15,938 Lakh. The Earning Per Share for the FY 22-23, has escalated northwards at Rs 30.33 as against that of Rs 11.97 (post adjustment of bonus shares issuance), which is 2.53 times of the previous financial year thereby projecting a healthy Return On Equity at 42.51% compared to 28.13% of previous financial year. The YoY consolidated EBITDA grew from by 91% from Rs 11,035 Lakh to Rs 21,125 Lakh whereas EBITDA margins moved from 47.67% to 32.65% which is primarily attributed to the change in the revenue mix between CPP and IPP segments from 75:25 in FY 21-22 to 85:15 in FY 22-23 Result PDF
Electric Utilities firm KPI Green Energy announced Q3FY23 results: Q3FY23 & 9MFY23: During the Q3FY23, on a consolidated basis, under the CPP Segment, the company has energised a total 27.01 MW and has bagged orders for 40.10 MW with the cumulative consolidated capacity energised as at the end of Q3FY23 at 130.40 MW. The company signed PPAs for sale of 13.80 MW of solar power with a major one from TATA Motors Passengers Vehicles Limited (A subsidiary of TATA Motors Limited) at 7.50 MW, and rest from other corporates, under its IPP Segment. Currently the company has 100+ MW of consolidated cumulative orders on hand under Captive Power Project (CPP) including those under Hybrid Project and 53+ MW consolidated cumulative PPAs (including those towards Hybrid Project) on hand as on 31st Dec 2022 and are in various stages of execution. Q3FY23, has also witnessed advance in revenue from operations as well as profit margins. The third quarter of FY23 has maintained the trend of growth from the last two quarters of FY23, whereby the total revenue of the company has registered substantial growth in terms of revenue from operations from Rs 6,240 lakhs in Q3FY22 to Rs 17,966 lakhs in Q3FY23, thereby reflecting an awesome growth of 188% YoY basis and 12% compared to the previous quarter Q2FY23 and that of 46% compared to Q1FY23. The total revenue reported for the 9MFY23 is at Rs 46,262 lakhs vis-à-vis Rs 15,579 lakhs during the corresponding 9M FY22 which is 197% increase on 9-month comparisons. The Sales of Captive Power Project (CPP) grew from Rs 4,651 lakhs in Q3FY22 to Rs 15,154 lakhs in Q3FY23, demonstrating a splendid incremental growth of 226%. The revenue from Sales of Power (IPP) enhanced from Rs 1,521 lakhs in Q3FY22 to Rs 2,695 lakhs in Q3FY23 depicting a growth of 77%. The IPP revenue for Q3FY23 improved to stand at Rs 2,695 lakhs vis-à-vis Rs 17,14 lakhs during Q2FY23. This has been mainly due to the improved power generation on account of better radiation with the departure of the monsoon season. The 9MFY23 stood at Rs 6,342 lakhs vis-à-vis Rs 3,919 lakhs in 9M FY22 due to increase in IPP capacities. The consolidated net profit for the current quarter increased significantly at Rs 3,446 lakhs being 19.18% of total revenue as against that of Rs 1,314 lakhs being 13.21% in Q3FY22. The 9MFY23 consolidated net profit stands at an all-time high of Rs 7,785 lakhs, vis-à-vis Rs 3,338 lakhs in 9MFY22. As a result of record high growth in the net profit, the company has recorded an EPS of Rs 19.07 in Q3FY23 with that of 9MFY23 at Rs 43.09. Tax Expense is being computed considering the impact of energisation of IPP Projects during the financial year and the reasonable impact of annualized deferred tax liabilities and tax provisions for those projects has also been taken into account and recorded during the current quarter. Result PDF
KPI Green Energy announced Q2FY23 results: In comparison to previous reporting periods, the second quarter of FY23 has continued the growth saga of the first quarter of FY23. The total Revenue of the Company has augmented from Rs 57.70 crore in Q2FY22 to Rs 160.14 crore in the current Quarter thereby reflecting an enormous growth of 178% YoY basis and 30% compared to the previous quarter Q1FY23 The total revenue reported under H1FY23 is at Rs 282.96 crore vis-à-vis Rs 93.40 crore during the corresponding half year in FY22 which is 203% increase on H1 comparisons The consolidated net profit for the current quarter is reported at Rs 21.16 crore as against that of Rs 12.26 crore as in Q2FY22 which reports an increase of 73% The H1FY23 consolidated Net Profit stands at Rs 43.39 crore, which is more than double of the same during H1FY22 and also stands higher than the annual numbers of FY22 As a result of growth in net profit, the Company has recorded an EPS of Rs 11.71 in Q2FY23 with that of H1FY23 at Rs 24.02 Result PDF