Prostarm Info Systems gains on securing 30 MW BESS project from BSPGCL

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Prostarm Info Systems advanced 2.39% to Rs 115.90 after the firm has received a letter of intent (LoI) from Bihar State Power Generation Company (BSPGCL) for setting up a 30 MW/120 MWh standalone battery energy storage system (BESS).

The project, to be executed under the tariff based competitive bidding (TBCB) route, will be implemented at various GSS locations of BSPTCL in Bihar under the build-own-operate-transfer (BOOT) model with viability gap funding (VGF) support for 12 years.

Prostarm will receive a rental of Rs 4.44 lakh/MW/month, translating into an annual rental of Rs 15.98 crore for the 30 MW capacity.

The project is scheduled to be fully commissioned within 18 months from the effective date of the battery energy storage purchase agreement (BESPA).

The company stated that no, the promoter/promoter group/group companies have no interest in the entity that awarded the contract. The contract does not fall under related party transactions and is not applicable under the arms length criteria.

Prostram Info Systems, founded in 2008, is a power solutions provider specializing in UPS systems, inverters, lithium-ion battery packs, and solar EPC projects. The company designs, manufactures, and assembles products in-house and via partners in India and China. It serves sectors like healthcare, IT, defense, and energy through direct sales and a nationwide distributor network. The company operates three units in Maharashtra and has strengthened its tech capabilities through strategic acquisitions and licensing agreements.

On a full-year basis, the company's consolidated net profit jumped 16.6% to Rs 23.31 crore on an 11.9% increase in revenue to Rs 257.87 crore in FY25 over FY24.

Prostram Info Systems made a debut on the stock exchanges on 03 June 2025, with its shares listing at Rs 125, a 19.05% premium to the issue price of Rs 105. The company's initial public offering (IPO), which closed on 29 May 2025, was subscribed 97.20 times. The IPO was priced within a band of Rs 95 and 105 per share.

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