Oriana Power Ltd
ORIANA NSE
Oriana Power Ltd
Capital GoodsNSE: ORIANA Other Electrical Equipment
Key Fundamentals
SMEOther Electrical EquipmentCapital GoodsMarket Cap
₹2,741 Cr
Volatility
Moderate
P/E Ratio
10.4
EBITDA
₹398 Cr
Return on Equity
30.63%
Debt to Equity
0.67
Book Value
₹375.72
52W High
₹3,064
52W Low
₹1,174.95
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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51 extracted metrics + investor summaries across FY20–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has delivered good profit growth of 223% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 44.2%
Weaknesses
1- Though the company is reporting repeated profits, it is not paying out dividend
Growth Rate
Revenue Growth
81.71% ↘
Net Income Growth
58.23% ↘
Cash Flow Change
13538.03% ↗
ROE
-16.13% ↘
ROCE
12.41% ↗
EBITDA Margin (Avg.)
-12.08% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 49d agoAI opinion · based on fundamentals
Risk high
Oriana Power Ltd is a small-cap renewable energy EPC and IPP company with a market cap of ₹3,195 Cr that has delivered exceptional revenue growth (138% CAGR over 3 years) and profit growth (188% CAGR over 3 years) with FY25 standalone revenue of ~₹1,019 Cr and net profit of ~₹163 Cr. However, the stock has declined 25% over the past year, trades at a P/B of 4.21x, pays no dividend, and faces execution risk on its ambitious ₹10,000 Cr investment plan.
Bull Case 8
- Exceptional revenue growth with 3-year sales CAGR of 138% and TTM sales growth of 84%, with FY25 standalone revenue reaching ~₹1,019 Cr vs ₹377 Cr in FY24
- Profit growth of 223% CAGR over 5 years and 188% CAGR over 3 years, with FY25 standalone net profit of ~₹163 Cr vs ₹55 Cr in FY24
- Consistently high return on equity of 44% over 3 years and 40% in the last year, indicating efficient capital deployment
- Large unexecuted order book of nearly ₹7,000 Cr providing revenue visibility over the next 2-3 years
- Reasonable valuation at PE of 12.8x despite high growth rates, suggesting earnings have outpaced stock price appreciation
- Diversified clean energy platform spanning solar EPC, BOOT-based IPP, battery energy storage (BESS), and green hydrogen with ₹10,000 Cr planned investment over 3-4 years
- Strong promoter holding at ~58% with recent Non-Disposal Undertaking over 26% stake signaling promoter confidence
- Operating in a structural growth sector with India's renewable energy capacity targets requiring massive EPC execution
Bear Case 8
- Stock has declined 25% over the past 1 year despite strong earnings growth, indicating market concerns about sustainability or valuation re-rating risk
- Zero dividend payout despite reporting repeated profits, offering no income return to shareholders
- Ambitious ₹10,000 Cr investment plan over 3-4 years is very large relative to current market cap of ₹3,195 Cr, raising dilution and execution risk
- Debt-to-equity ratio of 0.49x with likely increase as the company funds its large capex plans, potentially straining the balance sheet
- Small-cap company with market cap of ₹3,195 Cr and limited institutional holding (FII ~0.86%, DII ~0.37%), resulting in lower liquidity and higher volatility
- Price-to-book ratio of 4.21x is elevated for an EPC-heavy business model where asset-light operations typically command lower multiples
- High revenue concentration risk — FY25 revenue nearly tripled from FY24, and such lumpy EPC project-based revenue may not sustain linearly
- Transition from pure EPC to IPP/BOOT model requires significant long-term capital commitment with returns materializing over 15-25 year project lifespans
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 49d ago Positives 1
- FY26 revenue surges 83.7% Jun 11
Oriana Power reported 83.7% YoY revenue growth to INR 1,814 crore for FY26. PAT rose 59.1% to INR 252.34 crore with a 13.91% margin.
Neutral 3
- Revised stake sale to Leo Energies Jul 1
Oriana Power approved revised terms for selling 74% stake in subsidiaries to Leo Energies at an enterprise value of ₹488.70 crore.
- Promoters confirm no encumbrances Jun 24
Promoters disclosed no new encumbrances on shares in FY26 under SEBI SAST Regulations filed with NSE.
- Analyst meet hosted virtually Jun 8
Oriana Power held a virtual analysts and investors meet on June 10, 2026. No unpublished price-sensitive information was shared.
TL;DR: Oriana Power is delivering strong top-line and bottom-line growth with FY26 revenue up 83.7% and PAT up 59.1%, signalling robust execution in the industrials/energy space. The subsidiary stake sale to Leo Energies at a higher enterprise value suggests asset monetisation at favourable terms. No material headwinds are visible currently. The trend is clearly improving, though sustaining this growth rate and maintaining margins will be the key watch items going forward.
Quarterly Results
| Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 64 | 319 | 360 | 628 | 781 | 1,032 |
| Expenses | 53 | 249 | 284 | 468 | 601 | 815 |
| Operating Profit | 11 | 69 | 75 | 159 | 180 | 218 |
| OPM % | 18% | 22% | 21% | 25% | 23% | 21% |
| Other Income | 1 | 2 | 3 | 8 | 8 | 20 |
| Interest | 3 | 3 | 8 | 17 | 20 | 43 |
| Depreciation | 1 | 1 | 3 | 5 | 6 | 10 |
| PBT | 9 | 67 | 67 | 145 | 162 | 185 |
| Tax % | 33% | 28% | 28% | 24% | 25% | 29% |
| Net Profit | 6 | 49 | 49 | 110 | 122 | 130 |
| EPS in Rs | 2.99 | 25.35 | 23.92 | 54.12 | 59.77 | 64.42 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 21 | 34 | 124 | 135 | 383 | 987 | 1,814 |
| Expenses | 19 | 30 | 112 | 115 | 302 | 753 | 1,416 |
| Operating Profit | 2 | 3 | 12 | 19 | 81 | 235 | 398 |
| OPM % | 9% | 10% | 10% | 14% | 21% | 24% | 22% |
| Other Income | 0 | 0 | 1 | 1 | 3 | 11 | 27 |
| Interest | 0 | 1 | 2 | 3 | 6 | 25 | 63 |
| Depreciation | 0 | 0 | 1 | 1 | 2 | 8 | 16 |
| PBT | 2 | 2 | 11 | 16 | 76 | 212 | 347 |
| Tax % | 55% | 69% | 35% | 34% | 28% | 25% | 27% |
| Net Profit | 1 | 1 | 7 | 11 | 54 | 159 | 252 |
| EPS in Rs | 21.35 | 2.35 | 11.3 | 15.74 | 28.33 | 78.03 | 124 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.37 | 3 | 6 | 7 | 19 | 20 | 20 |
| Reserves | 1 | 2 | 9 | 25 | 127 | 489 | 743 |
| Borrowings | 4 | 17 | 28 | 71 | 184 | 271 | 509 |
| Other Liabilities | 7 | 22 | 32 | 42 | 80 | 583 | 1,291 |
| Total Liabilities | 13 | 43 | 75 | 144 | 410 | 1,363 | 2,563 |
| Fixed Assets | 6 | 19 | 28 | 29 | 135 | 269 | 313 |
| CWIP | 0 | 0 | 0 | 46 | 52 | 50 | 146 |
| Investments | 0 | 0 | 3 | 6 | 11 | 11 | 16 |
| Other Assets | 7 | 24 | 45 | 63 | 212 | 1,033 | 2,087 |
| Total Assets | 13 | 43 | 75 | 144 | 410 | 1,363 | 2,563 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | 2 | 1 | 9 | 16 | 2 | 290 | 337 |
| Investing | -6 | -14 | -16 | -41 | -117 | -522 | -506 |
| Financing | 4 | 15 | 7 | 27 | 135 | 270 | 185 |
| Net Cash Flow | 0 | 2 | 0 | 1 | 21 | 38 | 16 |
| Free Cash Flow | -4 | -13 | -1 | -32 | -111 | 150 | 184 |
| CFO/OP | 80 | 16 | 90 | 81 | 10 | 144 | 100 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 76 | 148 | 72 | 99 | 75 | 146 | 135 |
| Inventory Days | — | — | — | — | — | — | 11 |
| Days Payable | — | — | — | — | — | — | 58 |
| Cash Conversion Cycle | 76 | 148 | 72 | 99 | 75 | 146 | 89 |
| Working Capital Days | -8 | -7 | 9 | 7 | 10 | 81 | 59 |
| ROCE % | — | 23% | 38% | 26% | 38% | 42% | 40% |
Documents
1
Bagging/Receiving of orders/contracts
20 Aug - Oriana Power wins ₹94.51 crore EPC LOA for 25.138MW solar projects in Bihar, executable within 6 months. 20 Aug - Oriana Power wins ₹94.51 crore EPC LOA for 25.138MW solar projects in Bihar, executable within 6 months.
2
General Updates
19 Aug - Received ₹214.80 crore EPC contract for 50 MW solar projects in Rajasthan, to execute within 9 months. 19 Aug - Received ₹214.80 crore EPC contract for 50 MW solar projects in Rajasthan, to execute within 9 months.
3
Shareholders meeting
17 Aug - Shareholders approved stock split, MOA alteration, and higher borrowing limits via postal ballot. 17 Aug - Shareholders approved stock split, MOA alteration, and higher borrowing limits via postal ballot.
4
General Updates
6 Aug - Oriana Power signs MoU with Maharashtra for ₹4,500 crore integrated green hydrogen project on 5 August 2026. 6 Aug - Oriana Power signs MoU with Maharashtra for ₹4,500 crore integrated green hydrogen project on 5 August 2026.
5
General Updates
6 Aug - Oriana Power incorporated wholly owned subsidiary TRUERE PRITHVI RENEWABLES PRIVATE LIMITED on August 5, 2026. 6 Aug - Oriana Power incorporated wholly owned subsidiary TRUERE PRITHVI RENEWABLES PRIVATE LIMITED on August 5, 2026.
Frequently Asked Questions about Oriana Power Ltd
What does Oriana Power Ltd do?
Incorporated in 2013, Oriana Power Limited is engaged in two main business verticals: providing of EPC and operations of solar power projects, and offering solar energy solutions on a BOOT (build, own, operate, transfer) basis.[1]
Where is Oriana Power Ltd (ORIANA) listed?
Oriana Power Ltd is listed on the Indian stock exchanges. It is listed on NSE: ORIANA. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Oriana Power Ltd belong to?
Oriana Power Ltd operates in the Capital Goods sector within the Other Electrical Equipment industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Oriana Power Ltd?
Oriana Power Ltd has a market capitalisation of approximately ₹2740.65 Cr. Based on this, it is classified as a Small Cap stock.
What is the PE ratio of Oriana Power Ltd?
The Price-to-Earnings (PE) ratio of Oriana Power Ltd is 10.40. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Oriana Power Ltd?
Over the past 52 weeks, Oriana Power Ltd has traded between a low of ₹1,174.95 and a high of ₹3,064. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Oriana Power Ltd?
Oriana Power Ltd has a Return on Equity (ROE) of 30.63%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Oriana Power Ltd on Tapetide?
On Tapetide, you can view Oriana Power Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Incorporated in 2013, Oriana Power Limited is engaged in two main business verticals: providing of EPC and operations of solar power projects, and offering solar energy solutions on a BOOT (build, own, operate, transfer) basis.[1]