Shares of this smallcap company fell around 2 percent in Monday’s trading session despite receiving an order worth Rs 18.67 crores. The shares have delivered more than 80 percent returns to its shareholders in just three months.
With a market capitalization of Rs. 1,552 crores, the shares of Oriana Power Ltd started Monday’s trading session on a higher note at Rs. 820 compared to its previous close of Rs. 802.95. During the trading session, the shares hit a low of Rs. 778, making a loss of around 2 percent and are currently trading at Rs. 790 apiece.
According to the exchange filing, the company was awarded a contract worth Rs 18.67 crores from the Textile Industry for the development of a solar power plant with a capacity of 6.7MWp under the Engineering Procurement and Commissioning (EPC) segment located in Madhya Pradesh.
Earlier, last month, the company was awarded a contract to develop a Compressed Bio Gas (CBG) plant, capable of producing 21 tons daily, in Maharashtra from a Renewable Energy(CBG) Developer worth Rs. 56.47 crores and the projects are scheduled to be completed in the financial year 2024-25.
Looking at the financial statement, the company’s revenue increased by 10 percent from Rs. 123.97 crores during FY 21-22 to Rs. 136.18 in FY 22-23. In addition, the net profit magnified by 57 percent from Rs. 6.96 crores to Rs. 10.93 crores during the same timeframe.
Coming onto the important financial ratios, the return on equity declined from 67.38 percent during FY 21-22 to 46.13 percent in FY 22-23. Furthermore, the return on capital employed decreased from 38.9 percent to 26.89 percent during the same period.
As of September 30, 2023, Oriana Power’s order book stood at over 110 MW. Moreover, the company had an EPC order book of 65 MW to be executed by the end of the fiscal year, and they also expect to complete two additional orders, a 0.65 MW ground-mounted project for a textile company at Panipat in
Haryana and a 0.53 MW rooftop solar power project for a packaging company in Bengaluru by the end of FY24.
According to the latest shareholding pattern, Promoters have 61.41 percent of stakes in the company, the Public or Retail Investors have 31.89 percent of shares, FIIs have 2.75 percent holdings and the remaining 3.95 percent shares are with DIIs.
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
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