Oriana Power Ltd.

•

orianapower.com/BSE: -NSE: ORIANA

Market Cap₹ 2,450 Cr.

Current Price

High / Low₹ 3,064 / 1,175

Stock P/E9.7

Book Value₹ 251

Price to Book5.22

Dividend Yield0.00 %

ROCE42.7 %

ROE48.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Solar Power Project (EPC): 97.9% • Solar Power Sale (RESCO): 2.1%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 51.4%
Company has a healthy return on capital (ROCE) of 35.7%
Operating margins have improved to 23.8% from 11.0%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.38x)

CONS

Receivables are growing faster than sales - a possible quality concern
Equity base is being diluted - shares outstanding up 229.9%
Free cash flow has been persistently negative
Total debt has risen sharply - up 47.5% year on year
Contingent liabilities are large at 65.8% of net worth
Stock is trading at 5.2x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3966.00	32.89	545668.49	0.96	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	212.00	49.14	44202.43	0.33	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1406.55	21.14	24020.01	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.65	24.87	23733.27	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1296.70	37.03	22275.70	0.23	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	279.45	20.03	15706.27	1.79	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	979.25	26.42	11388.64	0.71	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	813.00	36.82	11253.04	0.37	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	IRCON	119.20	21.41	11210.95	1.59	92.03	-43.92	1955.83	9.49	10.15	9.81
10.	KEC	408.35	19.63	10870.28	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
11.	AFCONS	292.55	74.36	10759.54	0.68	303.00	120.52	26710.00	692.49	12.88	9.42
12.	ORIANA	1205.70	9.71	2449.88	0.00	—	—	—	—	42.70	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	31	124	135	383	987
	27	111	115	302	753
Operating Profit	4	13	19	81	235
OPM %	11.39%	10.19%	14.40%	21.08%	23.76%
	0	1	1	3	11
Interest	1	2	3	6	25
Depreciation	0	1	1	2	8
Profit before Tax	2	11	16	76	212
Tax %	58.52%	36.35%	33.81%	28.23%	25.35%
Net Profit	1	7	11	54	159
EPS	27.40	22.60	16.91	28.33	78.03
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 100%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 184%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 48%
1 Year:: -47%

RETURN ON EQUITY

10 Years:: —
5 Years:: 48%
3 Years:: 51%
Last Year:: 48%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3	6	7	19	20
Minority Interest	-0	0	0	2	8
	2	9	25	127	489
	16	26	67	162	253
Trade Payables	10	23	23	41	185
	12	11	22	58	406
Total Liabilities	43	75	144	410	1,362
	19	28	29	135	269
Capital Work in Progress	0	0	46	52	49
	0	3	6	11	11
	3	1	6	15	22
	0	0	0	79	394
Cash & Bank	0	0	2	73	70
	21	43	55	45	546
Total Assets	43	75	144	410	1,362

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1	11	16	2	290
Cash from Investing	-14	-16	-41	-117	-522
Cash from Financing	13	7	27	135	270
	-0	-0	1	20	38

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	3.37	11.30	15.74	28.33	78.03
Book Value (₹)	17.19	24.88	47.26	76.21	250.82
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	2.16	6.35	8.74	29.36	82.20
PROFITABILITY
Operating Margin %	11.57%	11.00%	15.23%	21.08%	23.76%
Net Margin %	3.31%	5.60%	7.84%	14.18%	16.06%
ROE %	19.31%	67.36%	44.91%	61.02%	48.35%
ROCE %	14.78%	38.90%	26.51%	37.79%	42.70%
	2.34%	11.67%	9.62%	19.59%	17.89%
EFFICIENCY
Debtor Days	167	57	83	55	87
Inventory Days	40	7	10	10	7
Payable Days	150	58	82	41	57
	57	6	11	24	37
FINANCIAL HEALTH
Debt to Equity (x)	3.17x	1.84x	2.23x	1.26x	0.53x
Interest Coverage (x)	4.09x	6.92x	5.70x	13.55x	9.62x
	1.10x	1.12x	1.08x	1.67x	1.47x
GROWTH
Revenue Growth %	0.00%	302.74%	8.67%	184.21%	157.83%
Operating Profit Growth %	0.00%	282.89%	50.52%	307.87%	193.31%
Net Profit Growth %	0.00%	580.95%	52.24%	413.91%	192.06%
	0.00%	0.00%	0.00%	79.99%	175.41%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	26.19x	16.79x
P/B (x)	0.00x	0.00x	0.00x	9.74x	5.22x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	18.33x	11.66x

Shareholding Pattern

Numbers in percentages

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	61.41	61.41	57.97	57.97	57.97	57.98
	2.75	1.17	0.92	0.85	0.86	0.32
	3.95	1.94	0.25	0.30	0.37	0.32
Government	0.00	0.00	0.00	0.00	0.00	0.00
	31.89	35.48	40.85	40.87	40.80	41.38

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

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