+500MWp Order Book: This Small Cap Stock Gets Rs 21.65 Crore Order For 4 MWp Solar Project At Kannur Airport
Shares of Oriana Power have gained over 13 per cent in the last month.
Oriana Power Limited has received a new work order worth Rs 21.65 crore, including GST, from Kannur International Airport Limited for a 4 MWp solar power project. The project will be executed at Kannur International Airport in Kerala and includes both a PV carport installation of 1.75 MWp and a 2.25 MWp ground-mounted system. The EPC work is expected to be completed during the financial year 2025–26, and Oriana will be responsible for operations and maintenance for five years. The company’s order book as of November 2024 exceeded 500 MWp in total capacity.
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In addition to the new project, Oriana Power recently established a subsidiary named Imperial Nature Private Limited, incorporated on April 5, 2025. Oriana holds a 74 per cent stake in this entity, with the investment made in cash. Imperial Nature Private Limited is set up to undertake power generation, EPC contracts, maintenance and operations of power infrastructure, as well as consultancy services in the field. It also plans to function as a general electric power supplier with capabilities to build power stations and distribution infrastructure.
Shares of Oriana Power have gained over 13 per cent in the last month, supported in part by the announcement of the new subsidiary. However, as of 11:50 AM today, the stock was trading at Rs 1,560.05, down 2.5 per cent from the previous close.
For the half-year ended September 2024, Oriana Power reported strong financials with revenue rising to Rs 360 crore, a 462 per cent increase from Rs 64 crore a year earlier. Operating profit surged to Rs 75 crore, up 581 per cent year-on-year, while profit after tax stood at Rs 49 crore, marking a 716 per cent jump from Rs 6 crore in the same period last year. Oriana Power Limited continues to focus on executing solar EPC projects, including design, supply, installation, testing, and maintenance of solar power systems.
Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.