The shares of this smallcap company locked a 5 percent upper circuit after receiving an order worth Rs. 247 crores from Bharat Petroleum. In one year, the stock has delivered more than a 500 percent return to its shareholders.
Price Movement:
With a market capitalization of Rs. 4,207 crores, the shares of Oriana Power Ltd started Monday’s trading session on a higher note at Rs. 2,193.15, clocking a 5 percent upper circuit compared to its previous close of Rs. 2,088.75 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had been awarded a prestigious order of 52 MW worth Rs. 247.88 crores from Bharat Petroleum Corporation Ltd for executing a solar power project.
This order involves the development of a solar power project under the EPC segment, which includes obtaining CTU approval, constructing transmission lines, and providing operations and maintenance services for 5 years.
Also Read: Gas stock jumps 14% after board announces merger of GSPL, GSPC, GEL, into the company
Financials:
Looking at the company’s financial statements, the revenue zoomed by 398 percent from Rs. 64.05 crores during H1FY24 to Rs. 318.81 crores in H2FY24. In addition, the net profits magnified by 750 percent from Rs. 5.72 crores to Rs. 48.62 crores during the same period.
Recent Development:
Oriana Power had signed an MoU with Splitwaters a US-based company for supplying electrolyzers and all necessary equipment for green hydrogen projects to develop green hydrogen and E-fuel facilities across India.
Under this strategic alliance, Oriana Power will lead the business development and project execution in the Indian market and provide the electrolyzer and all other equipment required for green hydrogen projects, along with EPC (engineering, procurement, and construction) services to clients in India.
Moreover, Oriana Power will also work with Splitwaters’ green hydrogen and e-fuel projects outside India by leveraging its capabilities and market reach to propel the industry forward.
Order Book:
The business pipeline currently exceeds more than 600 MWp solar (consisting of EPC and RESCO IPP) and more than 30 Ton CBG projects that are poised for execution. And are actively pursuing overseas opportunities in the Middle East region.
Management Guidance:
The management anticipates a significant increase in FY25 topline performance, driven by robust demand in the renewable energy sector and a well-maintained order book.
Oriana Power is in the advanced stage of a financing agreement with a major financial institution in India. This collaboration aims to promote residential and SME rooftop solar projects, offering expedited fund disbursement which is expected to enhance customer conversion rates significantly.
Furthermore, the company is setting ambitious goals, with a target to achieve 1 GW capacity by 2026 and OrianaPower is looking to tap into additional revenue streams by integrating agricultural practices with photovoltaic systems.
Company Profile:
Headquartered in New Delhi, Oriana Power Ltd was incorporated in the year 2013. The company is a leading solar energy solution provider in India, specializing in constructing and operating solar projects for industrial and commercial customers.
Written By Vaibhav Patil
Also Read: Fundamentally strong stocks with promoter holding of more than 70%
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
