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Power stock is up 133% from 52-week-low, record date fixed for 1:2 stock split

3 min read . Updated: 05 Mar 2023, 10:59 PM IST Vipul Das

On Friday, the shares of K.P. Energy Ltd closed on the BSE at â‚¹329.15 apiece level, up by 1.46% from the previous close of â‚¹324.40. (REUTERS) — On Friday, the shares of K.P. Energy Ltd closed on the BSE at â‚¹329.15 apiece level, up by 1.46% from the previous close of â‚¹324.40. **(REUTERS)**

The power sector is the focus of K.P. Energy Ltd, a small-cap business with a market valuation of â‚¹365.85 Cr.

The power sector is the focus of K.P. Energy Ltd, a small-cap business with a market valuation of â‚¹365.85 Cr. The organisation, which has its headquarters in Gujarat, is a top solution provider for wind power projects and wind-solar hybrid power projects. On January 5, 2023, the Board of Directors of the company announced and approved stock split in a 1:2 ratio for which the record date has been announced.

The company said in a stock exchange filing that â€œPursuant to Regulation 42 of Listing Regulations and relevant provisions of the Companies Act, 2013 and Rules made thereunder, the Board of Directors of the Company has fixed Friday, March 10, 2023 as the 'Record Date' for determining the eligibility of Shareholders for the purpose of subdivision/split of equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each fully paid-up."

In Q3FY23, the company's Balance of Plant (BoP) operations saw its highest-ever turnover. As compared to Q2FY23, revenue from infrastructure development grew by 101 percent. In comparison to the INR 7.23 Cr. recorded in Q2FY23, the consolidated net profit for Q3FY23 reported at INR 11.74 Cr., which represents a rise of 62.37% YoY. Consolidated net profit for the nine months ended December 31, 2022 was â‚¹28.42 Cr, up 121% from the corresponding nine months ended December 31, 2021. It also exceeds the annual PAT of FY22.

According to the company, its EBITDA margins for the quarter were 18.4%, generating â‚¹19.9 Cr in EBITDA (excluding EI). The company's diluted EPS for the third quarter of FY23 was 10.45 and for the nine months ending December 31, 2022, it was 25.32. The revenue from sale of power has shown decline as compared to Q2FY23 due to force majeure event of lightning and blade damage at one location in Kuchhdi site in Porbandar, Gujarat, said K.P. Energy in a stock exchange filing. The company said its net income stood at â‚¹107.6 Cr in Q3FY23, up by 51% YoY from â‚¹71.3 Cr in Q3FY22. K.P. Energy said it has taken the necessary steps for claiming insurance under the Machine Brake Down (MBD) Policy and Machine Loss of Profit (MLOP) Policy.

On Friday, the shares of K.P. Energy Ltd closed on the BSE at â‚¹329.15 apiece level, up by 1.46% from the previous close of â‚¹324.40. The stock recorded a volume average of 18,920 shares and a deliverable volume average of 12,783 shares. In the last 1 year, the stock has gained 30.72% and on a YTD basis, it has fallen 11.59% so far in 2023. The stock touched a 52-week-high of â‚¹488.55 on (09/09/2022) and a 52-week-low of â‚¹140.70 on (17/05/2022), indicating that at the current market price, the stock is trading 32.62% below the 1 year high and 133.93% above the 1 year low. During Q3FY23, the company reported a promoter shareholding of 44.80% and a public stake of 55.20%.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).