KPI Green Energy, a small-cap power generating company, is coming up with its second bonus issue reward in about 9 months. The company's board of directors will consider bonus proposal in the coming days this week. Ahead of the meeting, KPI Green stock dipped to hit 5% lower circuit on Monday, November 11. Despite the latest drop, KPI is a multibagger with gains of nearly 116%. Broadly, the recommendation on the stock is to buy.
KPI Green Energy Share Price:
After market hours of November 11, KPI Green's stock price ended at Rs 754 apiece, down by 4.85% on BSE with market cap of Rs 9,897.03 crore. The stock touched its 5% lower circuit of Rs 752.85 apiece during the trading session.
KPI Green's stock has rallied by 58.31% year-to-date, while in a year, the stock zoomed by a whopping 115.74% becoming a multi-bagger.
KPI Green Energy Bonus Issue:
As per the regulatory filing, a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, November 14, 2024, at the Registered Office of the Company, inter alia, to transact the following matters:
- To consider the proposal for the issue of bonus equity shares to the shareholders of the Company;
- To consider and approve an increase in the authorized share capital of the company inter alia to accommodate the issue of bonus equity shares, if any;
- Any other matter with the permission of the Chairman.
The upcoming bonus issue will be the second in 2024 by KPI Green. The last bonus issue was of 1:2 and for this KPI turned ex-date on February 15, 2024.
Apart from the bonus issue, KPI stock has also split by a 1:2 ratio and the ex-date was on July 18, 2024.
KPI Green Energy Dividend:
Additionally, another key reward is of interim dividend to the tune of Rs 0.20 per share for FY25. For this, the record date is set on November 14 to determine eligible shareholders.
Earlier in 2024, the company already had two dividends of Rs 0.20 each and its ex-dates were on August 21 and October 4.
KPI Green Energy Samvat 2081 Pick:
KPI Green Energy is Vikram Kasat, Head - Advisory of Prabhudas Lilladher's top pick for Samvat 2081 which commenced from November 1, 2024, and will continue till next Diwali Laxmi Pujan 2025.
In its Diwali picks note, Kasat highlighted the following key pointers for KPI Green:
- Manufacturer of fabricated and galvanized products in the power and renewable energy space
- Setting up a new facility of INR 174 crore in Gujarat with capacity of 2,94,000 MTPA and 90,000 MTPA hot-dip galvanizing plant
- Production set to commence in March 2025, with 90% capacity utilization in 6-9 months of commissioning
- Current capacity is 53,000 MTPA, with additions of 39,000 MTPA in April 2024 and 14,500 MTPA in September 2024
- Total capacity set to grow 8X by FY25, alongside EBITDA margins of 15% and PAT margins of 10%.
As per the Trendlyne data, the consensus recommendation from 1 analyst for KPI Green Energy Ltd. is STRONG BUY. KPI Green Energy Ltd.'s Revenue was higher than average estimate 1 time in past 1 year.
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