Image source: © Almaterra | Megapixl.com

Highlights

  • In Q1FY24, GIP's revenue dipped by around 13.3% compared to pcp
  • GIP’s gross profit showed an upward trend, and it achieved better liquidity ratios in Q1FY24 compared to pcp
  • GIP executed an option agreement with certain directors to provide access to CAD 10.0 million of capital at the company's exclusive discretion.

Green Impact Partners Inc. (TSXV: GIP) operates as a clean energy company. It oversees a portfolio of water and solids treatment and recycling facilities across North America. The company’s project portfolio comprises clean energy development and renewable natural gas projects. The company has a market cap of CAD 74.26 million.

In Q1FY24, GIP's revenue dipped by around 13.3% compared to the same period in 2023. This decline was majorly due to a significant decrease of over 16% in revenue from its Energy Product Optimization Services. Likewise, due to increased operating expenses, the company faced higher losses from operations. Also, the company’s income before taxes was negative CAD 5.2 million against positive income before taxes of CAD 6.3 million in pcp, mainly due to loss from joint venture.

However, GIP’s gross profit showed an upward trend. Additionally, it achieved better liquidity ratios and outperformed the industry average in accounts receivable days, highlighting its resilience and ability to adaptability.

Image source: © 2024 Krish Capital Pty. Ltd., Source: Company Filing & EODHD/Others; Analysis: Kalkine Group

Recent business update

As per the announcement dated 15 May 2024, GIP has executed an option agreement with certain directors to provide access to CAD 10.0 million of capital at the company's exclusive discretion. The agreement is aimed towards providing extra liquidity as the company advances its clean energy production development portfolio.

Top 10 shareholders

Around 60.19% of the total shareholdings in GIP are held by its top 10 shareholders. Wolverine Management Services Inc. holds the maximum stake in the company at approximately 23.42% followed by Encompass Capital Advisors, LLC which holds around 16.59%.

Stock performance

The stock price of GIP has witnessed an upside of about 23.57% over the last 1 month and a surge of about 15.33% over the last three months. Furthermore, the stock is trading below the average of its 52-week high price of CAD 8.80 and 52-week low price of CAD 2.45.

 

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is June 11, 2024. The reference data in this report has been partly sourced from EODHD/Others.