Synopsis:
Ravindra Energy Limited has been awarded two contracts by the Maharashtra State Electricity Distribution Company Limited to develop and operate decentralized solar projects capacity across various feeder-level locations in Maharashtra.
The shares of a small-cap company engaged in coal trading, solar system installations, solar water pumping solutions, and power generation hit a 5 percent upper circuit in the days trade after securing a contract from the Maharashtra State Electricity Distribution Company Limited.
With the market capitalization of Rs.3,034.53 crores, the shares of Ravindra Energy Limited are trading at Rs.169.95, up by 3 percent from its previous day’s closing price of Rs.165 per equity share.
Contract
Ravindra Energy Limited has won two major contracts from MSEDCL in Maharashtra. The projects will operate and develop 120 MW of decentralized feeder-level photovoltaic (PV) solar projects, spread across 23 MSEDCL substations. ‘
MSEDCL will purchase electricity for 25 years under a long-term Power Purchase Agreement, providing REL with a stable and guaranteed revenue stream from these renewable energy projects for the next 25 years.
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About the Company
Ravindra Energy Limited is primarily involved in coal trading, installing and commissioning rooftop, ground-mounted, and solar PV systems, selling solar-powered water pumping solutions, and generating and supplying electricity.
For FY25, the company recorded Rs.250 crore in revenue and Rs.42 crore in EBITDA. It currently has renewable energy capacity of 158 MWp of capacity operational, 87 MWp under construction, and 258 MWp in the development pipeline.
The company’s revenue went up from Rs.23 crore in Q1FY25 to Rs.163 crore in Q1FY26. Net profit went up from Rs.6 crore in Q1FY25 to Rs.23 crore in Q1FY26. Its return on equity is 10 percent, and return on capital employed is 9.53 percent. It has a P/E ratio of 57.43, with the industry average of 39.72.
Written by Jhanavi Sivakumar
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