📅 EduInvesting.in | May 13, 2025
🌞 Ticker: KPIGREEN | Industry: Solar Power Distribution | Region: Mostly Gujarat, but ambition? Global.
1️⃣ 🏢 About the Company – Solarism, Not Tourism
While most of us were debating if rooftop panels increase rent, KPI Green Energy was building an empire — one sunburnt megawatt at a time.
- Gujarat-based, because obviously.
- Powering India through two models:
→ IPP (they sell to the grid)
→ CPP (they sell to companies who don’t want Adani’s bill shock)
If Tata Power is Reliance Fresh, KPI is the local kirana — fast, flexible, and has deals for “aapka industrial meter.”
2️⃣ 👨💼 Key Managerial Personnel – “Panel toh lag gaya, ab paisa bhi lagao”
| Name | Role | Vibe |
|---|---|---|
| Dr. Faruk Patel | CMD | “Bhaisaab, Gujarat ka Elon Musk” |
| Dr. Alok Das | Group CEO | “Chal raha hai boss” |
| Surinder Kumar Negi | COO | “Power delivery on time” |
| Salim S. Yahoo | CFO | “Naam bhi finance-ready” |
| Rajvi Upadhyay | CS & Compliance | Keeps everyone out of SEBI jail |
3️⃣ 📊 Financials – “Yeh toh literally shining company hai bhai”
| Metric | FY24 Value | Status |
|---|---|---|
| Revenue | ₹1,735 Cr | 🔼 +37% YoY |
| Net Profit | ₹325 Cr | 💰 Huge jump |
| EBITDA Margin | 30% | ⚙️ Solid |
| Debt/Equity | 0.5x | 🙏 Healthy |
| Promoter Holding | 54.5% (⚠️ 45.5% pledged) | 🤐 Hmm |
Company toh ultra-green, but that pledge? Looks like “ghar pe EMI bhi chal raha hai.”
4️⃣ 🎯 Forward-Looking Fair Value – “Fair toh hai, but solar premium bhi chahiye”
Calculation Mode On:
- TTM EPS: ~₹22
- FY25E EPS: ₹30
- Assume P/E of 15x (smallcap + renewables = premium justified)
- 🎯 Fair Value = ₹450
CMP ~₹395 → Still has upside, especially if sun keeps rising and debt doesn’t.
5️⃣ 📈 Estimated Growth & Industry Outlook – “India needs bijli. KPI needs billing.”
KPI Outlook:
- Targeting 3.5x capacity by FY30
- Expanding B2B captive sales
- Major presence in Gujarat, expanding to Maharashtra & Rajasthan
Industry Outlook:
- Renewable energy = India’s new toy after infra and AI
- Centre & state governments are pushing for net-zero
- Competition is heating up (pun intended)
6️⃣ 🧠 EduInvesting Take – “Smallcap hai, solar hai, cash kama raha hai — what’s not to like?”
KPI is that rare stock that combines boring B2B infra with sexy green energy branding.
It won’t give Zomato-level drama, but it will give EMI-level reliability.
Perfect for long-term investors who want green returns — literally.
💚 Bonus points for solid EBITDA margins
🚩 Slight red flag for that 45.5% pledge — bhai, thoda halka karo
7️⃣ ⚠️ Risks & Red Flags – Because we love throwing shade
- 🤐 High Promoter Pledge – Is this green energy or leveraged solar yoga?
- 🏗️ Execution Dependency – One delayed project = big revenue bump missed
- 🌩️ Monsoon & Sunlight Risk – Clouds = mood off for both panels and investors
- 🧃 Smallcap Liquidity – Not for panic sellers or volume chasers
🧃 Meme of the Day
When you realise this “boring solar stock” gave better returns than Paytm
“Should’ve bought solar, not software.”
📌 Tags:
kpi green energy share price, solar stocks india, renewable energy multibagger, faruk patel company, eduinvesting nifty 500 coverage, undervalued smallcap green energy, kpi green energy review
