The shares of this company jumped by approximately 4 percent on Wednesday after the company announced that it secured confirmation as the lowest bidder for many turnkey contracts from Madhya Gujarat Vij Company. In this article, we will discuss more about the awarded projects.
With a market capitalization of Rs 2,401 crores, the shares of Rajesh Power Services Ltd are currently trading at Rs 1,333 per share, down by 8 percent from its 52-week high of Rs 1,448 per share. Over the last six months, the stock has delivered a return of 81 percent.
About the contract
On Wednesday, Rajesh Power announced that it has successfully received the confirmation as the Lowest bid at the L1 stage for the following projects.Madhya Gujarat Vij Company Limited (MGVCL) has awarded the company numerous turnkey contracts for the supply, installation, testing, and commissioning of 11 kV Medium Voltage Covered Conductor (MVCC).
The turnkey contracts are provided under the Kisan Suryoday Yojna (KSY) Scheme and VKY-2 Scheme in several areas, including Bodeli, Dabhoi, Dahod, Lunawada divisions, etc. The contracts require the company to carry out improvements to the electrical infrastructure for improved power distribution.
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Financial Highlights
It reported a standalone revenue growth of 276 percent to Rs 1,072 crores in FY25 from Rs 285 crores in FY24. Coming to its standalone profitability, it reported a net profit growth of 235 percent to Rs 87 crores in FY25 from Rs 26 crores in FY24.
Rajesh Power Services Limited provides turnkey project services in India – operations and maintenance of EHV substations and solar plants. The company offers utility services including underground cable fault detection, transformer replacement and switchgear replacement, cable laying, substation maintenance, and testing of equipment. It is also involved in electrical projects, including: cable system and substation design; site surveys; project reports; and consultancy and inspection services.
Written by Satyajeet Mukherjee
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