Recently Listed Battery Manufacturing Company Secures Rs 15.98 Crore Annual Deal for 30MW Battery Energy Storage Project
The contract is structured with Viability Gap Funding (VGF) support and has a duration of 12 years.
IPO-opportunity-or-overhype-full-analysis-here-49408">Prostarm Info Systems Limited has received a Letter of Intent from Bihar State Power Generation Company Limited for the development of a standalone 30MW/120 MWh Battery Energy Storage System (BESS). The agreement was secured under a Tariff Based Competitive Bidding process and will follow a Build, Own, Operate & Transfer (BOOT) model. The contract is structured with Viability Gap Funding (VGF) support and has a duration of 12 years. Under this arrangement, Prostarm will receive a rental of Rs 4.44 lakh per MW per month, amounting to an annual income of approximately Rs 15.98 crore. The full capacity commissioning is expected to be completed within 18 months from the effective date of the Battery Energy Storage Purchase Agreements.
This project marks a key domestic milestone for Prostarm as it enhances its footprint in energy storage infrastructure across various Grid Sub-Station (GSS) locations in Bihar. The development highlights the company’s strategic expansion in the energy storage sector, building on its capabilities and recent momentum from its public listing.
As of June 16, 2025, Prostarm Info Systems Limited’s stock is trading at Rs 113.2, close to its 52-week low of Rs 112.65. The 52-week high stands at Rs 119.95, indicating limited price volatility but potential investor interest following this deal. With a market capitalisation of Rs 675 crore, Prostarm falls in the Small-Cap category. The company has a Price-to-Earnings (PE) ratio of 28.16. Among its public shareholders, Chhatisgarh Investments Limited holds a 1.66 per cent stake.
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Founded in 2008, Prostarm has grown from distributing third-party batteries and UPS systems to designing and manufacturing its own power conditioning and storage solutions. The company operates in four main business segments: Manufactured Power Solution Products, Third-Party Products & Reverse Logistics, Value-Added Services, and Solar EPC Projects. Its Maharashtra-based manufacturing units produce UPS systems, inverters, and lithium-ion battery packs. Supported by a network of 22 branches and 478 dealers across India, Prostarm served over 700 customers in FY24, with a significant share of revenue stemming from key clients.
In a move to fund its growth strategy, Prostarm recently raised Rs 168 crore through its IPO. The proceeds are being used for working capital needs, debt repayment, and possible acquisitions. As the energy storage market evolves, the company's progress in securing large-scale projects may strengthen its positioning in the power infrastructure sector.
Disclaimer: The article is for informational purposes only and not investment advice.