This solar energy company’s shares jumped up to 5 percent after the company started the projects and power generation plant of order aggregating to 4.9MWp Solar Power. The company was recently listed in August and since then, it has given its stakeholders around a 7 percent return.
With a market capitalization of Rs. 640 crores, the shares of Oriana Power Ltd started its trading session on a positive note at Rs. 342.90. The shares hit a high of Rs. 358 making a gain of around 5 percent and currently trading at Rs. 348 apiece.
Such a positive movement was observed after the company in an exchange filing announced that Oriana’s Subsidiaries have commissioned the projects and power generation of order aggregating to the 4.9MWp Solar Power Plant under the Renewable Energy Service Company (RESCO) segment of the company. Ensuring a steady stream of monthly recurring revenue over the next 25 years.
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.
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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