KP Energy Ltd, a power-pack smallcap stock, freezes at its 5% upper circuit after it announced the proposal of final dividend recommendations for FY24 ahead. Also, KP Energy will declare its Q4 results as well. The announcement date is fixed on April 22, next week. Riding on the back of bulls, KP Energy shares have zoomed by a whopping 509% from their lows.
KP Energy Share Price:
This energy stock stood at Rs 357.15 apiece on BSE during market hours of April 16th. The stock is at 5% upper circuit with a market cap of Rs 2,381.83 crore. It means there are several buyers in KP Energy shares but no sellers.
The stock is still cheaper by 23% from its 52-week high of Rs 465 apiece. But is currently trading higher by 509.4% from its 52-week low of Rs 58.61 apiece.
KP Energy Dividend:
In its regulatory filing on April 15, KP Energy said, "A meeting of the Board of Directors of the Company is scheduled to be held on Monday, April 22, 2024, at the Registered Office of the Company, inter alia, to transact the following matters:
- To consider and approve Standalone and Consolidated Audited Financial Results of the company for the quarter and year ended March 31, 2024;
- To consider and recommend final dividend, if any, on the equity shares of the Company, for the financial year 2023-24."
Earlier for FY24, KP Energy delivered the first and second interim dividends of Rs 0.25 (5%) and Rs 0.20 per share (4%).
To be eligible for dividends, as an investor, you need to ensure you don't miss out on key important dates when they're announced. These are:
1. Declaration Date: Date of approval of Dividend Rate (per share) by the Board of Directors of the Company.
2. Record Date: Proposed by the Board of Directors to determine the name of the eligible shareholders for the dividend. All eligible shareholders with their names in the list at the end of the Record Date will be eligible to receive dividends. A minimum gap of 5 clear working days is needed between the Declaration Date and the Record Date.
3. Ex-Dividend Date: On this day the price of the equity share of the company gets adjusted for the dividend payout.
4. Payment Date/ Issue Date: Payment of dividend is to be completed within 30 days of its approval. Eligible shareholders receive the dividend amount before this date.
KP Energy Results:
KP Energy will present its Q4 and full-year earnings for FY24 on April 22.
In Q3FY24, the company reported a consolidated net profit of Rs 9.26 crore versus Rs 11.73 crore in Q3FY23 and Rs 8.18 crore in Q2FY24. Consolidated revenue was at Rs 82.46 crore, compared to Rs 108.25 crore in Q3FY23 and Rs 70.23 crore in Q2FY24.
KP Energy Bonus:
This will be the first bonus issue since KP Energy turned ex-bonus for its latest bonus issue in the ratio of 2:1 in February 2024. Since March 2017, KP Energy has issued bonus shares three times. The other bonuses were of 3:10 in May 2018, and 1.5:1 in March 2017.
About KP Energy:
KP Energy Ltd. is a trusted corporate group renowned for its strong management, efficient cost structure, and robust order book with ready project sites. Specializing in high-quality Wind Turbine Generators (WTGs) powered by sophisticated technology, the company excels in providing turnkey solutions for wind farm projects across India.
Earlier, this month, KP Energy announced that its board of directors approved a grant of 8,69,382 Stock Options to the eligible employees of the Company, its Subsidiary and Associate Companies as per KP Energy- ESOP 2023. Every option would be converted into One (1) Equity Share of the Company having a face value of Rs. 5/-each. The options are granted at Rs 33 per stock option.
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