Oriana Power Limited received a ₹21.65 crore EPC order from Kannur Airport for a 4 MWp solar project, and formed a new subsidiary, Imperial Nature Private Limited. The stock has gained 13% in the last month.
Shares of Oriana Power have surged over 13% in the past month after the company formed a new subsidiary. Today, the company received a new EPC work order. As of 11:50 AM, the stock is trading at ₹1,560.05, down 2.5% from the previous close.
Oriana Power Limited has received a new order from Kannur International Airport Limited for the Engineering, Procurement, and Commissioning (EPC) of a 4 MWp solar power plant. The order is worth approximately ₹21.65 crores, including GST. The project will be located at Kannur International Airport in Kerala and will comprise both PV carport (1.75 MWp) and ground-mounted (2.25 MWp) installations. The EPC work is scheduled to be completed in the financial year 2025-26, and the operation and maintenance term will be for five years.
The total order book of the company as of November 2024 was +500MWp.
Earlier, Oriana Power Limited announced the incorporation of a new subsidiary company named Imperial Nature Private Limited. The incorporation took place on April 5, 2025. Imperial Nature Private Limited's authorised capital is ₹1,00,000, divided into 10,000 equity shares of ₹10 each. Currently, it has no turnover as it is yet to commence business operations.
Oriana Power Limited's acquisition of Imperial Nature Private Limited makes it a subsidiary. Oriana Power Limited holds 74% of the share capital of Imperial Nature Private Limited. The nature of consideration for this acquisition is cash.
The main objectives of Imperial Nature Private Limited include generating power, executing EPC projects related to power, operating and maintaining power projects, and providing consultancy services in the field of manufacturing, operation, and maintenance of power projects. The company will also engage in the business of a general electric power supply company, including constructing power stations, cables, wires, and lines, and distributing electricity to public and private entities.
In the half-yearly results for September 2024, the company reported a revenue of ₹360 crore, reflecting a year-on-year (YoY) growth of 462% compared to ₹64 crore in September 2023. The operating profit stood at ₹75 crore, marking a 581% increase from ₹11 crore in the same period last year. The profit after tax (PAT) rose by 716% to ₹49 crore from ₹6 crore in September 2023.
Oriana Power Limited is involved in providing Engineering, Procurement, and Commissioning (EPC) services for solar power projects. This includes the design, supply, installation, testing, and maintenance of solar power plants.
Disclaimer: The article is for informational purposes only and not investment advice.
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