On Wednesday, KPI Green Energy declared that, on its own, it has effectively achieved zero net debt status. “We are pleased to inform you that as of August 28, 2024, the company has successfully attained zero net debt status on a standalone basis,” the company stated in a regulatory statement. This accomplishment demonstrates our commitment to upholding a strong financial position and is expected to significantly reduce the yearly interest and financing expenses for the company.
According to KPI Green Energy, the accomplishment bolsters the company’s financial base and improves its credit standing, setting it up for long-term success. It stated, “We are still dedicated to providing value to all stakeholders through prudent financial management and strategic initiatives.”
KPI Green Energy said yesterday that Sun Drops Energia Private Limited, its wholly-owned subsidiary, had been awarded a 13.30 MW solar power plant project. The projects are expected to be finished in different phases following the terms of the order throughout the 2024–2025 fiscal year.
KPI Green Energy announced earlier this month that its June quarter profit of Rs 66.10 crore compared to Rs 33.30 crore in the same period last year represented a 99 percent YoY increase. A dividend of 20 paise per share was also declared by the KPI Green Energy board, and August 21 was designated as the record date.
