Green Energy stock engaged in providing a wide range of solar energy solutions such as floating solar panels, solar rooftops, hydrogen electrolyzers, and many more hit a 5 percent upper circuit upon receiving a new solar power project worth Rs. 13.19 Crores.
With a market capitalization of Rs. 4,947 Crores, the shares of Oriana Power Limited hit a 5 percent upper circuit at Rs. 2,578.90, from its previous day’s close price of Rs. 2,578.90.
Oriana Power Limited has received a new work order for a consideration of Rs. 13.19 Crores from the Cement Industry ground-mounted project for developing and executing a solar power project of 4Mwp by providing Engineering, Procurement, and Construction services.
In Addition, Oriana Power Limited has recently achieved significant strategic milestones for the implementation of projects under “PM- Surya Ghar Muft Bijli Yojana” by signing various Memorandum of Understanding (MoUs) to bolster its presence in the renewable energy sector and facilitating the widespread adoption of solar energy solutions across India
The first MoU is signed with the State Bank of India (SBI) to provide end-user financing for solar energy solutions, to make solar power more accessible and affordable for consumers by offering tailored financing options.
The second MoU was with Rockingdeals Circular Economy Limited, a leading player in the retail space, to enhance the distribution and marketing of its solar kits.
The last MoU is with Discoms of Uttar Pradesh, to empanel all electricity distribution companies of Uttar Pradesh under UPNEDA national portal empanelment to facilitate solar energy under the flagship scheme.
Oriana Power Limited is engaged in providing a wide range of solar energy solutions to industrial and commercial customers. Its solutions include floating solar panels, rooftop solar, hydrogen electrolyzers, and many more.
Oriana Power Limited is expanding its portfolio with an additional 250+ MWp of solar projects under execution along with expansion on CBG and Green Hydrogen/Electrolyzer, demonstrating a steadfast commitment to a sustainable energy future. It has successfully delivered over 200+ MWp of solar projects has implemented 120+ projects and served over 50+ clients.
Its Revenue from Operations grew by 181 percent from Rs. 136 Crores in FY23 to Rs. 383 Crores in FY24, accompanied by profits of Rs. 11 Crores to Rs. 54 Crores.
In terms of Return ratios, it has reported a return on equity(ROE) of 169 percent and a return on capital employed (ROCE) of 79.4 percent. It has reported a debt-to-equity ratio of 1.26.
Written by: Bharath K.S
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