Multibagger small-cap stock KP Green Engineering rises 2% on ₹52 crore order win; trades 272% higher than IPO price
In an exchange filing today, the company announced it had secured new orders from multiple clients, totaling ₹ 52.31 crore across five segments. This includes its first order in the newly launched Heavy Engineering segment, a ₹ 19 crore contract awarded by a client for the prestigious Chennai Metro project.
The company said this order will be manufactured at its flagship Matar plant and is slated for completion in FY2026. This is the second major order for the company in less than a month, following a ₹ 97.27 crore order win on June 11.
Meanwhile, the company early last month signed three strategic Memoranda of Understanding (MoUs) with Delta Electronics India, a leading provider of energy and power management solutions. These MoUs span three high-impact areas: Battery Energy Storage Systems (BESS), Green Hydrogen and EV Charging Infrastructure, and Solar PV Inverters.
KP Green Engineering made its market debut in March 2024, listing at ₹ 200 apiece, a 38% premium to its IPO price of ₹ 144. It closed the first day near its listing price at ₹ 210. Following the bumper debut, the stock maintained strong upward momentum in the following months, even as the broader market witnessed heightened volatility.
It ended in April 2024 with a multibagger gain of 110%, and at current levels, the stock is trading over 270% above its IPO price.
Incorporated in 2001, KP Green Engineering manufactures fabricated and hot-dip galvanized steel products. Its product range includes lattice tower structures, substation structures, solar module mounting structures, cable trays, earthing strips, beam crash barriers, and other infrastructure solution products aligned with its motto: 'A Company to Solve the Difficulties.'
The company offers in-house fabrication and hot dip galvanizing facilities, enabling tailor-made solutions for clients. It provides end-to-end services, covering engineering, design, fabrication, galvanization, and deployment.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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