KPI Green Energy on Wednesday announced that it has successfully attained zero net debt status on a standalone basis. In a regulatory filing, the company said, “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. This milestone underscores our dedication to maintaining a robust financial position and is anticipated to result in considerable savings in the company’s annual interest and finance costs.”
KPI Green Energy further added that the achievement not only strengthens its financial foundation but also enhances the company’s credit profile, positioning it for sustainable growth. “We remain committed to delivering value to all stakeholders through sound financial management and strategic initiatives,” it said.
Yesterday, KPI Green Energy had said that its wholly-owned subsidiary, Sun Drops Energia Private Limited, has received a 13.30 MW solar power plant project. The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.
Earlier this month, KPI Green Energy reported a 99 per cent YoY surge in profit at Rs 66.10 crore in the June quarter compared with Rs 33.30 crore in the same quarter last year. The KPI Green Energy board had also declared a dividend of 20 paise per share and set August 21 as the record date for the same.
From: financialexpress
Financial News
