550 Per cent Multibagger Returns in Just 1 Year: Solar Company Secures Order for 75MW Solar Power Plant from MSEDCL - Complete Details Inside!
The company’s shares have delivered an impressive return of around 550 per cent in just 1 year only.
Incorporated in 2013, Oriana Power Limited is a Small-Cap company that operates in two primary business segments: providing EPC services and operating solar power projects, as well as delivering solar energy solutions under a BOOT (build, own, operate, transfer) model. The company has bagged a significant contract from MSEDCL.
As per the press release, Oriana Power Limited has secured a new contract for the development of a 75MW(AC) solar power plant from MSEDCL, Maharashtra. The 25-year contract highlights Oriana Power's commitment to long-term partnerships and the delivery of renewable energy services.
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This project involves feeder-level solarization under Component C of the PM-KUSUM Scheme, including land acquisition and transmission line setup. The project is slated for completion within 12 months. The contract size is 75MW(AC), with the estimated construction cost projected at Rs 375 crore.
Today, the shares of Oriana Power Limited closed at around Rs 2101 per share. The company’s current market capitalization stands at Rs 4030 crore. The stock has delivered a multibagger return of around 550 per cent in just 1 year only.
The company doesn’t announce Quarterly Results and as per half-yearly results, in March FY24, Oriana Power Limited recorded a revenue of Rs 319 crore. The operating profit for the period stood at Rs 69 crore. The net profit reported by the company was Rs 49 crore. Looking at the annual performance, the company generated a revenue of Rs 383 crore in FY24, compared to Rs 136 crore in FY23. The operating profit for FY24 was Rs 54 crore with a net profit of Rs 11 crore.
Ace Investor Anil Kumar Goel owns a 1.97 per cent stake in the company as per the latest update.
Disclaimer: The article is for informational purposes only and not investment advice.