1100% up in two years, this multibagger energy company announces stock split; check details
KPI Green Energy will split its one share with a face value of Rs 10 each into two shares of face value of Rs 5 each, it said in a BSE filing. The company earlier announced a final dividend of 2 per cent of 0.2 per equity share of the face value of 10 each for FY24. This is subject to the approval of its shareholders.
On Thursday, May 23, the board of KPI Green Energy (formerly known as K.P.I. Global Infrastructure Limited) announced to split its stock, according to a stock market disclosure. This is the first stock split undertaken by the company.
The company will split its one share with a face value of Rs 10 each into two shares of face value of Rs 5 each, it said in a BSE filing.
"Considered, approved, and recommended ordinary resolution through postal ballot for alteration of the capital of the Company by sub-division/split of existing equity share of the Company from one equity share having face value of Rs 10 each, fully paid-up, into 2 (two) equity shares having face value of Rs 5 each, fully paid-up. The record date for the purpose of the above sub-division/split of Equity Shares shall be decided after obtaining approval of the shareholders through postal ballot and will be intimated in due course," the company informed today, May 23.
KPI Green Energy had issued one bonus share for every two held early this year. It had also issued one free share for every one held in 2023.
The company earlier announced a final dividend of 2 per cent of 0.2 per equity share of the face value of 10 each for FY24. This is subject to the approval of its shareholders.
Last month, KPI Green Energy had received new solar power project orders of 74.3 megawatt.
KPI Green Energy Q4 FY24 earnings
The company recorded its total revenue of Rs 292.96 crore during the March quarter of financial year 2024, up 59 per cent from Rs 184.41 crore a year ago. The consolidated net profit during the entire FY24 also increased by 47 per cent to Rs 161.65 crore from Rs 109.62 crore a year ago.
KPI Green Energy share price
On Thursday, May 23, shares of KPI Green Energy were trading at Rs 1920.5 each, up 2 per cent from its previous close on May 22, 2024 on BSE at 1.19 PM IST.
The company has provided returns of around 140 per cent to its investors in six months, 102 per cent on YTD basis, 430 per cent in one year, and more than 1,100 per cent in two years.
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