Solar power company receives approval of incorporation of wholly owned subsidiary for Generation of any kind of power or electric energy from Ministry of Corporate Affairs
The stock gave multibagger returns of over 750 per cent from its 52-week low of Rs 305 per share.
Oriana Power Limited has successfully incorporated a wholly-owned subsidiary named TRUERE NATURE PRIVATE LIMITED. This newly formed entity, with an authorized capital of Rs. 100,000, is poised to venture into the power generation sector. The company's primary focus will be on power generation, EPC projects, operation and maintenance of power projects, consultancy services, and distribution of power. TRUERE NATURE PRIVATE LIMITED is strategically positioned to capitalize on the growing demand for sustainable and renewable energy solutions.
The incorporation of TRUERE NATURE PRIVATE LIMITED aligns with Oriana Power Limited's broader corporate strategy of expanding its operations in the power sector. By establishing this subsidiary, the company aims to diversify its revenue streams, enhance its market position, and contribute to the nation's energy security. The subsidiary's focus on renewable energy sources, such as solar and wind power, reflects the company's commitment to sustainable development and environmental responsibility. As the global demand for clean energy continues to rise, TRUERE NATURE PRIVATE LIMITED is well-positioned to capitalize on emerging opportunities and drive growth for Oriana Power Limited.
Earlier, Oriana Power Limited has secured a significant contract worth Rs 83.56 Crore from NTPC- Vidyut Vyapar Nigam Limited. The contract entails the development of a 19.26 MW solar power plant under the EPC model. The scope of work includes engineering, procurement, construction, commissioning, and operation and maintenance of the plant. This domestic project is slated for completion within 8 months, solidifying Oriana Power's position in the solar energy sector and its commitment to sustainable energy solutions.
Oriana Power Limited is a leading solar energy solution provider, established in 2013. The company specializes in two primary areas: EPC services for solar power projects and development of solar energy solutions on a BOOT basis.
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Oriana Power offers a comprehensive range of solar energy solutions, including on-site and off-site installations. They operate under two key business models: the CAPEX model, where clients invest in capital expenditure and Oriana Power handles EPC responsibilities, and the RESCO model, where Oriana Power develops, owns, and operates solar power plants and provides clean energy to clients on a long-term basis. With a strong track record and a growing portfolio of projects, Oriana Power is committed to driving the adoption of sustainable energy solutions.
The improvement in Oriana Power's debtor days from 48.4 to 19.2 days and working capital requirements from 29.0 to 15.0 days has positively impacted its market cap, which currently stands at Rs 4,390 crore. The shares of the company have an ROE of 61 per cent and an ROCE of 38 per cent. The stock was listed on NSE at Rs 317.1 per share with a lot size of 1,200 shares. The stock gave multibagger returns of over 750 per cent from its 52-week low of Rs 305 per share. Investors should keep an eye on this power transmission stock.
Disclaimer: The article is for informational purposes only and not investment advice.