Renowned for developing cutting-edge power solutions, this company consistently pushes technological boundaries. Let’s dive into companies significant recent achievement within the renewable energy sector, specifically highlighting the approval of a major contract for a large-scale battery storage project in Tamil Nadu, valued at over Rs. 200 crore.
Oriana Power Limited’s stock, with a market capitalisation of Rs. 4,348.30 crores, rose to Rs. 2,195, hitting a high of up to 2.86 percent from its previous closing price of Rs. 2,133.85. However, the stock has given a negative return of 5.49 percent year to date.
BESS Agreement
Oriana Power Limited has signed a Battery Energy Storage Purchase Agreement (BESPA) with Tamil Nadu Power Distribution Corporation Limited (TANGEDCO) to set up a 50MW/100MWh Battery Energy Storage System (BESS) at Karaikudi in Tamil Nadu. The project will help balance electricity supply and demand, improve grid stability, and reduce blackouts. It will operate under the build-own-operate (BOO) model and receive financial support of Rs. 27 crore from the state government through Viability Gap Funding (VGF). This is a key step for Oriana in the clean energy sector.
The order was awarded through domestic competitive bidding and will be completed in 18 months. The project’s value is Rs. 209 crore spread over 12 years. The storage system will have the ability to charge and discharge twice a day based on demand, supporting Tamil Nadu’s renewable energy goals and strengthening the state’s electricity infrastructure.
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BESS Segment
The company secured 403 MWh of Battery Energy Storage System (BESS) projects in FY25. It also started discussions for its first combined solar and BESS project, designed for commercial and industrial (C&I) users. Some of the key project wins include orders from major clients like RVUNL, TGGENCO, KPTCL, and TNGC, each around 100 MWh. Other projects include a Hybrid Renewable Power Plant for a cement company and another hybrid plant with a capacity of 2.5 MWh.
Looking ahead, the company plans to reach over 1 GWh of BESS capacity by FY26. It will focus on expanding business in the C&I sector, improving energy security, and supporting smart grid systems in cities. The company also plans to develop modern technologies such as Virtual Power Plants (VPPs), energy-as-a-service (EaaS), cybersecurity in energy storage, and Vehicle-to-Grid (V2G) solutions. They will continue taking part in national tenders and hybrid storage opportunities to support future growth.
Half Yearly – Financial Highlight
The company reported revenue of Rs. 628 crore in H2FY25, up 74 percent from Rs. 360 crore in H1FY25 and up 96.8 percent year-on-year compared to Rs. 319 crore in H2FY24. This shows a continued profit growth till second half of FY25. Over the past three years, the company has delivered a strong sales CAGR of 100 percent, reflecting long-term growth momentum.
Profit for H2FY25 stood at Rs. 110 crore, Up in both H1FY25 and H2FY24, marking a 124.5 percent YoY growth. Furthermore, the company’s 3-year profit CAGR stands at an impressive 184 percent, with a 3-year ROE CAGR of 51 percent, indicating strong historical profitability and return generation.
Written By Fazal Ul Vahab C H
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