Rajesh Power Services received a ₹220.18 crore turnkey contract from MGVCL under the Kisan Suryoday and Vanbandhu Kalyan schemes. The nine-month project involves the supply and commissioning of 11KV MVCC across Gujarat.
a.m. IST, the Nifty 50 fell 0.04% to 25,450.5 points and the BSE Sensex slipped 0.02% to 83,420.22.
Rajesh Power Services Limited has announced the receipt of a significant order from Madhya Gujarat Vij Company Limited (MGVCL), Vadodara, Gujarat. The order, valued at approximately ₹220.18 Crore, is for a turnkey contract involving the supply, installation, testing, and commissioning of 11KV Medium Voltage Covered Conductor (MVCC) at various locations. This project falls under the Kisan Suryoday Yojana (KSY) Scheme and Vanbandhu Kalyan Yojana (VKY-2) Scheme.
The company stated that this order was received in the normal course of business. The execution period for this domestic contract is nine months.
As of May 15, 2025, the company holds a total order book of ₹3,628 crore (excluding GST), with 28% of the orders amounting to ₹1,029 crore in the Power Transmission segment and 72% or ₹2,599 crore in the Power Distribution segment. Transmission orders come from state transmission utilities, private DISCOMs, and private companies requiring EHV power solutions. Distribution orders include contracts from government and private DISCOMs, turnkey projects for private players, and OEM services for DISCOMs.
In H2FY25, the company delivered a strong operational performance with revenue from operations at ₹790.48 crore, registering a growth of 149.40% over ₹316.96 crore in H1FY25. EBITDA (excluding other income) rose to ₹93.61 crore in H2, up 133.20% from ₹40.14 crore in H1. Profit After Tax stood at ₹65.20 crore in H2FY25 compared to ₹28.16 crore in H1, showing a rise of 131.51%. However, the PAT margin slightly declined to 8.25% in H2 from 8.89% in H1.
For the full year FY25, the company posted revenue from operations of ₹1,107.44 crore, a significant jump of 288.62% compared to ₹284.97 crore in FY24. EBITDA (excluding other income) increased to ₹133.75 crore from ₹34.94 crore in the previous year, reflecting strong operational efficiency. Profit After Tax also saw a sharp rise to ₹93.37 crore in FY25 from ₹26.02 crore in FY24, a growth of 258.89%. Despite strong growth, the PAT margin declined slightly to 8.43% in FY25 from 9.13% in FY24.
The share price of Rajesh Power soared over 6% on Tuesday as the company received a significant order contract. As of 11:34 am IST, the stock price was trading at ₹1,408 per share, up by 4.29%.
Rajesh Power Services Limited is primarily engaged in providing electrical infrastructure solutions. Their core business involves undertaking turnkey projects for power distribution and transmission, including the supply, installation, testing, and commissioning of electrical conductors and related infrastructure. They cater to various schemes and initiatives in the power sector, as evidenced by their recent contract under the Kisan Suryoday Yojana and Vanbandhu Kalyan Yojana.
Disclaimer: The article is for informational purposes only and not investment advice.
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