Oriana Power jumps 9% after MoU with Rajasthan govt for renewable projects

Shares of Oriana Power surged up to 8.79 per cent at 2,699.95 per share on the NSE in Tuesday’s intraday deals. This came after Oriana Power signed a memorandum of understanding (MoU) with the Government of Rajasthan under the "Rising Rajasthan 2024" initiative to explore investment opportunities in renewable energy projects. 

 

These include solar power, floating solar, green hydrogen, and energy storage solutions, amounting to Rs 10,000 crore. “This aligns with our strategic vision to contribute to India's renewable energy goals and establish Oriana Power as a leader in clean energy infrastructure,” the company said in an exchange filing on Monday. 

 

The company further stated that the MoU under "Rising Rajasthan 2024" represents a major step in advancing Oriana Power's renewable energy initiatives, focusing on cutting-edge technologies such as green hydrogen and energy storage solutions. 

 

Oriana Power Limited reported a strong performance in the first half of FY25, driven by robust revenue growth and profitability. The revenue from operations stood at Rs 359.54 Crore, a significant increase from Rs 64.06 Crore in H1 FY24, showcasing the company’s rapid expansion. Similarly, the Profit After Tax (PAT) surged to Rs 48.57 Crore, an impressive 8.48 times growth compared to Rs 5.73 Crore in the previous year. 

 

The company's operational efficiency is reflected in its Ebitda, which grew 6.50 times to Rs 78.40 Crore from Rs 12.07 Crore in H1 FY24. Earnings Per Share (EPS) also witnessed a substantial jump to Rs 24.84, compared to Rs 4.33 in the prior year, signaling significant value creation for shareholders. Oriana achieved a healthy PAT margin of 13.51 per cent, highlighting strong profitability amid rising operational scale.

 

Notably, the Debt-to-Equity Ratio improved to 0.69, down from 1.67 in the previous year, reflecting prudent financial management and a stable capital structure.

 

The company has 518+ MW of projects under execution and a pipeline of over 1,500+ MW. Key projects include the development of the 100 MW Solar Park in Haryana, strategic partnerships in green hydrogen electrolyser manufacturing, and innovative solar installations across India. 

 

The company has a total market capitalization of Rs 5,324.63 crore. Its shares are trading at a price to earnings multiple of 91.52 times and are listed on the NSE SME platform. 

 

At 10:36 AM; the shares of the company were up 5.60 per cent at Rs 2,620.50 a piece. By comparison, the NSE Nifty50 was trading 1.04 per cent lower at 24,412.50 level.