KP Green Engineering Limited IPO
KP Green Engineering Limited, a subsidiary of the KP Group, encapsulates a comprehensive narrative of its inception, growth trajectory, diversified operations, and future aspirations. Founded and promoted by Dr. Farukbhai Gulambhai Patel, the KP Group has flourished since its establishment in 1994, now encompassing over 30 companies across India. This conglomerate has successfully diversified its operations into several key sectors, including fabrication and galvanizing, renewable energy (solar and wind power), telecommunications infrastructure, and the emergent fields of green hydrogen and ammonia. This diversification underlines the group’s commitment to sustainable and innovative solutions, reflecting a forward-thinking approach to addressing contemporary energy and infrastructure challenges.
Dr. Farukbhai Gulambhai Patel, with over 15 years of experience in the renewable energy sector, along with a board of directors and key managerial personnel, have been instrumental in steering the company’s growth and success. KP Green Engineering Limited, established in 2001, specializes in the manufacture of a wide array of fabricated and hot-dip galvanized steel products, serving various infrastructure needs. The company prides itself on offering tailored solutions through in-house capabilities in engineering, designing, fabrication, galvanization, and deployment, adhering to its motto, “A Company to Solve the Difficulties.”
The company is a recognized vendor for major electricity transmission corporations like GETCO and MSETCL, operating a state-of-the-art manufacturing facility in Vadodara, Gujarat. The facility is equipped with CNC machinery and boasts an ISO 9001:2015 certification, underscoring the company’s dedication to quality and customer satisfaction. KP Green Engineering Limited’s product and service portfolio is extensive, including lattice towers, substation structures, solar module mounting structures, and comprehensive services such as fault rectification for optical fiber cables, galvanizing job work, and solar installation services.
Looking ahead, the company is poised for expansion, with plans to increase its manufacturing capacity and introduce new products at a new plant in Bharuch. This expansion aims to cater to evolving market demands with offerings like high masts, floor gratings, pre-engineered buildings, and heavy fabrications. The business model is structured around two principal verticals: manufacturing of fabricated and galvanized products, and a service portfolio that includes optical fiber cable fault rectification, galvanizing services, and solar installation.
The vision, mission, and values of KP Green Engineering Limited reflect a deep commitment to powering India through nature, accelerating the adoption of renewable technology, and fostering an environmentally friendly and sustainable energy landscape. The company’s ethos is rooted in ethical practices, transparency, equal opportunity, respect for diversity and individuality, and a strong environmental consciousness. These principles not only guide the company’s operational strategies but also its contributions towards a more sustainable and equitable future.
Objects of the KP Green Engineering Limited IPO:
KP Green Engineering Limited IPO Details:
Open Date: | Mar 15 2024 |
Close Date: | Mar 19 2024 |
Total Shares: | 13,160,000 |
Face Value: | ₹ 5 Per Equity Share |
Issue Size: | 189.50 Cr. |
Lot Size: | 1000 Shares |
Issue Price: | ₹ 137 - 144 Per Equity Share |
Listing At: | BSE SME |
Listing Date: | Mar 22 2024 |
Promoters And Management:
Financials of KP Green Engineering Limited IPO:
Particulars ( In Lakhs ) |
2021 |
2022 |
2023 |
6M-FY24 |
Revenue from Operations | 3,861 | 7,770 | 11,421 | 10,393 |
Other Income | 22 | 72 | 58 | 20 |
Total Revenue | 3,884 | 7,842 | 11,479 | 10,414 |
Cost of materials consumed | 2,552 | 5,639 | 8,009 | 7,645 |
Employees Benefit Expenses | 402 | 416 | 414 | 246 |
Other Expenses | 366 | 784 | 897 | 723 |
EBITDA | 564 | 1,004 | 2,159 | 1,800 |
Depreciation & Amortisation | 116 | 136 | 152 | 87 |
Finance cost | 232 | 258 | 346 | 196 |
EBIT | 448 | 868 | 2,007 | 1,713 |
OPM (%) | 14.52% | 12.80% | 18.81% | 17.28% |
PBT | 216 | 609 | 1661 | 1518 |
Tax | 58 | 155 | 421 | 391 |
PAT | 158 | 454 | 1240 | 1127 |
NPM (%) | 4.08% | 5.79% | 10.80% | 10.82% |
No.of Shares | 500.00 | 500.00 | 500.00 | 500.00 |
EPS | 0.31 | 0.90 | 2.47 | 2.25 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
KP Green Engineering Limited | 114 | 12 | 2.47 | 58.1 | 144 | 720 |
Salasar Techno Engineering Ltd | 1,005 | 40 | 0.25 | 70.7 | 22.9 | 3,615 |
Skipper Ltd | 1,980 | 33 | 2.90 | 46.6 | 309 | 3,340 |
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Bonada ka chota bhai
It is a group company of KPI Green Energy Listed company.
Company is coming at P/E of 32x