Oriana Power Ltd
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]
- Market Cap ₹ 5,971 Cr.
- Current Price ₹ 2,938
- High / Low ₹ 3,054 / 1,000
- Stock P/E 37.7
- Book Value ₹ 251
- Dividend Yield 0.00 %
- ROCE 42.3 %
- ROE 48.4 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 189% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 50.7%
Cons
- Stock is trading at 11.7 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 107 to 146 days.
- Working capital days have increased from 32.8 days to 81.5 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 21 | 34 | 124 | 135 | 383 | 987 | |
| 19 | 30 | 112 | 115 | 302 | 753 | |
| Operating Profit | 2 | 3 | 12 | 19 | 81 | 235 |
| OPM % | 9% | 10% | 10% | 14% | 21% | 24% |
| 0 | 0 | 1 | 1 | 3 | 11 | |
| Interest | 0 | 1 | 2 | 3 | 6 | 25 |
| Depreciation | 0 | 0 | 1 | 1 | 2 | 8 |
| Profit before tax | 2 | 2 | 11 | 16 | 76 | 212 |
| Tax % | 55% | 69% | 35% | 34% | 28% | 25% |
| 1 | 1 | 7 | 11 | 54 | 159 | |
| EPS in Rs | 21.35 | 2.35 | 11.30 | 15.74 | 28.33 | 78.03 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 115% |
| 3 Years: | 100% |
| TTM: | 158% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 189% |
| 3 Years: | 183% |
| TTM: | 192% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 54% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 51% |
| 3 Years: | 51% |
| Last Year: | 48% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.37 | 3 | 6 | 7 | 19 | 20 |
| Reserves | 1 | 2 | 9 | 25 | 127 | 489 |
| 4 | 17 | 28 | 71 | 184 | 271 | |
| 7 | 22 | 32 | 42 | 80 | 583 | |
| Total Liabilities | 13 | 43 | 75 | 144 | 410 | 1,363 |
| 6 | 19 | 28 | 29 | 135 | 269 | |
| CWIP | 0 | 0 | 0 | 46 | 52 | 50 |
| Investments | 0 | 0 | 3 | 6 | 11 | 11 |
| 7 | 24 | 45 | 63 | 212 | 1,033 | |
| Total Assets | 13 | 43 | 75 | 144 | 410 | 1,363 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 2 | 1 | 9 | 16 | 2 | 290 | |
| -6 | -14 | -16 | -41 | -117 | -522 | |
| 4 | 15 | 7 | 27 | 135 | 270 | |
| Net Cash Flow | 0 | 2 | -0 | 1 | 21 | 38 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 76 | 148 | 72 | 99 | 75 | 146 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 76 | 148 | 72 | 99 | 75 | 146 |
| Working Capital Days | -8 | -7 | 9 | 7 | 10 | 81 |
| ROCE % | 23% | 38% | 26% | 38% | 42% |
Documents
Announcements
-
General Updates
28 October 2025 - Board-approved merger of 17 wholly-owned subsidiaries into AAN Solar Pvt Ltd; appointed date April 1, 2025.
-
General Updates
23 October 2025 - Oriana incorporated Majestic Cosmic Pvt Ltd on 23-Oct-2025; Oriana holds 99.99% share capital. (No operations yet)
-
General Updates
23 October 2025 - Oriana incorporated Majestic Galaxy Pvt Ltd on Oct 23, 2025; Oriana holds 99.99%; authorized capital Rs100,000.
-
Bagging/Receiving of orders/contracts
21 October 2025 - LOA from SJVN for 50 MW EPC solar project; contract INR 217.45 Cr; 560 days, 3 years O&M.
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Sale or disposal
19 October 2025 - Oriana to sell up to 74% in three solar subsidiaries to Helioact; enterprise value ~Rs.954 crore; shareholder approval required.
Business Profile[1] Oriana Power offers low-carbon energy solutions, which involve on-site solar project installations, i.e., rooftop and ground-mounted systems, and off-site solar farms, i.e., Open access.