Shares of Oriana Power skyrocketed 8.79% to 2,699.95 per share on 17 December after the company announced signing a Memorandum of Understanding (MoU) with the Rajasthan Government as part of the “Rising Rajasthan 2024” initiative to explore investment opportunities in renewable energy projects.

These include energy storage solutions, green hydrogen, floating solar, and solar power, totalling 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.

The company also stated that the Memorandum of Understanding under “Rising Rajasthan 2024” represents a major advancement for Oriana Power’s renewable energy initiatives, with a focus on cutting-edge technology such as green hydrogen and energy storage.

In FY25, Oriana Power Limited had a strong first half, driven by notable revenue growth and profitability. Operating revenue jumped sharply from Rs 64.06 Crore in H1 FY24 to Rs 359.54 Crore, demonstrating the company’s rapid expansion. In contrast, the Profit After Tax (PAT) rose to Rs 48.57 Crore, an astounding 8.48-fold rise over the Rs 5.73 Crore that was recorded the previous year. 

The company’s operational performance is demonstrated by its EBITDA, which rose 6.50 times to Rs 78.40 Crore from Rs 12.07 Crore in H1 FY24. A substantial amount of wealth was created for shareholders, as evidenced by the earnings per share (EPS), which rose sharply from Rs 4.33 to Rs 24.84 the year before. With a respectable PAT margin of 13.51%, Oriana showed strong profitability despite expanding its operational scale.

The significant reduction in the debt-to-equity ratio, which fell from 1.67 to 0.69 in the previous year, is indicative of a sound capital structure and prudent financial management.

The company is working on 518+ MW of projects and has approximately 1,500+ MW in the pipeline. Important initiatives include the construction of Haryana’s 100 MW Solar Park, strategic alliances in the production of green hydrogen electrolysers, and creative solar installations all throughout India.

At 11:23 am, the shares of Oriana Power were trading 6.16% higher at Rs 2,634.70 on NSE. 

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