GK Energy gains after receiving Rs 455-cr solar project order

GK Energy jumped 5.82% to Rs 133.60 after the company announced that it has received a Letter of Empanelment from a leading state government-owned power distribution utility for the execution of grid-connected rooftop solar photovoltaic projects.

According to an exchange filing, under the empanelment, the company has been allocated 1,00,000 grid-connected rooftop solar photovoltaic projects of 1 kW each, aggregating to 100 MW. The projects will be installed across 1,00,000 households at a contract rate of Rs 45,450 per kW, including GST, with an aggregate contract value of approximately Rs 454.50 crore.

The scope of work includes design, engineering, supply, installation, testing and commissioning of grid-connected rooftop solar PV systems, along with operations and maintenance for a period of five years.

The respective work orders are to be executed within 60 days from their issuance. The company clarified that the transaction does not constitute a related-party transaction and that neither the promoters nor the promoter group companies have any interest in the work contract.

GK Energy is one of India?s leading decentralised renewable energy infrastructure execution companies specializing in decentralized clean energy solutions, including solar-powered agricultural pumping systems, rooftop solar installations, and distributed renewable energy projects.

GK Energy?s standalone net profit surged 61.55% year-on-year (YoY) to Rs 59.67 crore in Q1 FY27 from Rs 36.94 crore in the corresponding quarter last year. Revenue from operations jumped 71.10% YoY to Rs 505.19 crore.

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