High ROE & high ROCE stock: This micro-cap energy company bags new orders aggregating to 16.831 MWp solar power plant under RESCO!

The shares of the company have an ROE of 46.8 per cent and an ROCE of 27.1 per cent.

On Monday, shares of Oriana Power Ltd surged 5.20 per cent to an intraday high of Rs 339.95 per share from its previous closing of Rs 323.15 per share. The stock’s 52-week high is Rs 408 and its 52-week low is Rs 208. At the closing bell, shares of the company were trading at Rs 316 per share, down 2.21 per cent.

Oriana Power Ltd (NSE Scrip Code: ORIANA), a prominent renewable energy solutions provider, announced that it has bagged new orders aggregating to a 16.831 MWp solar power plant under the RESCO (Renewable Energy Service Company) segment of the company.

Details of the Orders:

1) TRUERE SPV PVT LTD (Wholly Owned Subsidiary) of the company has received orders aggregating to 5.831 MWp from Hindustan Cooper Limited, Gurugram University and Paschimi Rajasthan Dugdh Utpadak Sahkari Sang Limited.

2) OPPL GUJ SPV PVT LTD (Wholly Owned Subsidiary) of the company has received an order aggregating to 5MWp from Rajasthan hospitals.

3) SOLARITHIC POWER SPV PVT LTD. (Wholly Owned Subsidiary) of the company has received an order aggregating to 6MWp from a tyre manufacturer.

According to the financials, Oriana Power has a market cap of over Rs 600 crore. In FY23, the net sales increased by 9 per cent to Rs 136 crore, operating profit increased by 67 per cent to Rs 20 crore and net profit increased by 57 per cent to Rs 11 crore compared to FY22.

The shares of the company have an ROE of 46.8 per cent and an ROCE of 27.1 per cent. The stock was listed on NSE at Rs 317.1 per share with a lot size of 1,200 shares. The stock is up by 21 per cent from its 52-week low of Rs 281 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.