Synopsis: Dharan Infra-EPC Limited’s subsidiary secured a Rs 215-crore solar power project in Maharashtra, nearly matching its market cap and strengthening its position in renewable infrastructure.
Known for its expertise in infrastructure and EPC projects, the company has made headlines after its subsidiary secured a major solar power project in Maharashtra worth around Rs 215 crore. The large contract value, nearly matching the company’s market cap, sparked a sharp rally with the stock hitting its upper circuit.
Dharan Infra-EPC Limited’s stock, with a market capitalisation of Rs. 240.52 crores, rose to Rs. 0.46, hitting the intraday upper circuit, up 5 percent from its previous closing price of Rs. 0.44. Furthermore, the stock over the past year has given a return of 2.22 percent.
Order Update
Dharan Infra Solar Private Limited, a subsidiary of Dharan Infra-EPC Limited, signed a supply agreement with Skymax Infropower Limited for a solar power project in Nanded District, Maharashtra, covering nine project sites. The agreement is worth approximately Rs. 215 crore, and involves setting up and commissioning a 75 MW (AC) or 95.10 MWp (DC) grid-interactive, ground-mounted solar plant.
The main scope of work includes design, engineering, procurement, supply, installation, testing, and commissioning of the entire 75 MW solar project. The contract is a material one for the company, meaning it will directly affect both financial and operational performance, and the project will be executed in a phased manner according to a mutually agreed plan.
Completion of the project is expected within financial year 2025-26 or 2026-27, as per the mutually agreed execution timeline.
Q4 FY’25 Financial Highlights
The company reported revenue of Rs 1.37 crore in Q4FY25, rising 25.7% QoQ from Rs 1.09 crore in Q3FY25 but plunging 89.1% YoY from Rs 12.55 crore in Q4FY24. Over the past three years, sales recorded a negative CAGR of 44%, indicating a prolonged decline in business performance.
Net loss narrowed sharply to Rs 2.19 crore in Q4FY25 from Rs 20.77 crore in Q3FY25, showing strong sequential recovery, while improving from a loss of Rs 5.40 crore in Q4FY24. Despite the better quarterly performance, the company’s three-year ROE CAGR remained weak at negative 4%, reflecting continued pressure on profitability.
About The Company
Dharan Infra-EPC Ltd, incorporated in 2007, operates in real estate construction, development, and civil engineering projects under the EPC (Engineering, Procurement, and Construction) model. The company is involved in developing residential and commercial projects and executing various contractual works, primarily in Nashik and expanding into international markets.
Written By Fazal Ul Vahab C H
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