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Business Standard
21 hours ago
- Business
- Business Standard
Emmvee bags ₹1,500 cr order from KPI Green Energy for solar module supply
Emmvee on Tuesday said it has bagged an order worth nearly Rs 1,500 crore from KPI Green Energy to supply TopCon bifacial solar modules for an upcoming project in Gujarat. Modules will be manufactured at Emmvee's facilities in Dabaspet and Sulibele, Karnataka, and deployed for an upcoming solar project in Gujarat, a company statement said. According to the statement, Emmvee, one of the leading Indian solar module and cell manufacturers, has bagged a nearly Rs 1,500 crore order from KPI Green Energy Ltd, part of the KP Group, to supply high-efficiency TopCon bifacial solar modules. The continued association reflects the market's confidence in Emmvee's technological leadership and delivery excellence, the statement said. "This new order from KPI Green Energy underscores our commitment to quality, strong execution capabilities, and the relationship capital we've built with long-standing partners in the industry," said Manjunatha DV, founder and Managing Director, Emmvee. This large-scale order strengthens Emmvee's role as a trusted partner in India's clean energy transition. Building on its long-standing collaboration with KPI Green Energy since 2021, this new order reflects the brand reputation, market confidence, and trust that Emmvee enjoys in the sector. Faruk G Patel, Chairman and Managing Director of KPI Green Energy, said: "Our ongoing partnership with Emmvee is built on trust, performance, and a shared vision for a greener India. Their consistent quality and execution make them a vital ally in our sustainable energy journey". With a module production capacity of approximately 7.8 GWp and cell production capacity of about 2.94 GWp, Emmvee continues to expand its presence domestically and globally, strengthening India's position as a clean energy manufacturing hub. Headquartered in Bengaluru, Emmvee serves customers across Asia, Europe, Africa, and North America.
Time of India
14-05-2025
- Business
- Time of India
KPI Green Energy Q4 Results: PAT more than doubles to Rs 104 crore, revenue jumps 97%; Stock rallies 8%
KPI Green Energy Ltd reported a 142% year-on-year jump in consolidated profit after tax to Rs 104 crore for the fourth quarter ended March 2025, compared to Rs 43 crore in the same period last year. Shares of the company rallied as much as 7.6% on Wednesday to Rs 446.75 on the BSE. The company said that it 'delivered an exceptional fourth quarter and full-year performance, underscoring its robust execution capabilities and market leadership in renewable energy .' KPI Green achieved its highest-ever quarterly turnover for the fourth consecutive quarter, with revenue from operations rising 97% to Rs 569 crore. EBITDA grew 76% to Rs 169.43 crore, while profit before tax surged 131% to Rs 138.70 crore. The bottom-line improvement was supported by lower finance costs following strategic loan repayments from proceeds raised through a Qualified Institutional Placement in Q2 FY25. The board of directors has recommended a final dividend of Re. 0.20 per share of face value Rs 5 for FY25, subject to shareholder approval at the upcoming Annual General Meeting. For the full financial year 2024-25, PAT more than doubled to Rs 325.28 crore from Rs 161.66 crore, while total revenue rose 70% to Rs 1,755.16 crore. 'KPI Green Energy has closed FY 2024-25 on a historic note, surpassing all previous annual financial benchmarks. Notably, the PAT for FY 2024-25 alone exceeds the total annual revenue of FY 2021-22, reflecting the company's exceptional growth trajectory,' the company said. Strategic developments The year also saw the company complete a Rs 1,000 crore QIP, with participation from marquee investors including Morgan Stanley Asia, BofA Securities Europe SA, Societe Generale, Goldman Sachs Singapore, and Motilal Oswal Equity Opportunities Fund. The proceeds were used to repay term loans and support working capital for upcoming projects. KPI Green secured major solar project contracts—300 MWAC from Coal India Ltd and 100 MWAC from MAHAGENCO—further strengthening its leadership in high-capacity renewable energy execution. Construction on these projects is underway, with management expecting early completion. The company also received a long-term credit rating upgrade to [ICRA] A with a Positive outlook from [ICRA] A-, reflecting increasing stakeholder confidence. KPI Green expanded operations into Rajasthan, Madhya Pradesh, and Odisha through new Memorandums of Understanding with state governments. The company said its accelerating growth is 'mirrored across all key metrics,' reinforcing its position in India's clean energy transition. Also read | Nykaa shares jump 3% after MSCI inclusion, $199 million inflows expected ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
