Oriana Power Ltd.

•

₹ 1,192.05-0.2%

2026-08-21

orianapower.com/BSE: -NSE: ORIANA

Market Cap₹ 2,463 Cr.

Current Price₹ 1,194

High / Low₹ 3,064 / 1,180

Stock P/E9.8

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%

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

EDIT COLUMNS

ConstructionInfrastructureEngineering - Construction

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	LT	4030.10	33.42	554487.79	0.94	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	223.10	51.71	46516.80	0.32	1595.20	1087.26	43212.30	1005.52	10.81	4.41
3.	KPIL	1377.05	20.69	23516.23	0.80	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	18.97	24.01	22911.97	0.69	3062.70	1412.58	21372.72	918.25	24.76	53.93
5.	CEMPRO	1263.50	36.08	21705.36	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	236.95	16.98	13317.59	2.11	157.94	141.49	819.84	-5.80	25.84	20.61
7.	TECHNOE	997.70	26.92	11603.21	0.70	93.33	-31.44	630.34	19.84	16.54	15.79
8.	IRCON	122.60	22.02	11530.72	1.55	92.03	-43.92	1955.83	9.49	12.69	9.81
9.	KEC	423.05	20.34	11261.59	1.30	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	AFCONS	277.95	70.65	10222.57	0.72	30.30	-77.95	2671.00	-20.75	12.88	9.42
11.	WAAREERTL	880.80	18.09	9193.72	0.00	118.98	37.72	924.25	53.23	81.92	18.77
12.	ORIANA	1212.40	9.76	2463.49	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	14	21	84	245
OPM %	12	11	15	22	25
Other Income	0	1	1	3	11
Interest	1	2	3	6	25
Depreciation	0	1	1	2	8
	2	11	16	76	212
Tax %	59	36	34	28	25
Net Profit	1	7	11	54	159
EPS	27	23	17	28	78
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	2	6	8	28	78
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	2	6	8	28	78

Mar 2021

: 31
: 27
Operating Profit: 4
OPM %: 12
Other Income: 0
Interest: 1
Depreciation: 0
: 2
Tax %: 59
Net Profit: 1
EPS: 27
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2022

: 124
: 111
Operating Profit: 14
OPM %: 11
Other Income: 1
Interest: 2
Depreciation: 1
: 11
Tax %: 36
Net Profit: 7
EPS: 23
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2023

: 135
: 115
Operating Profit: 21
OPM %: 15
Other Income: 1
Interest: 3
Depreciation: 1
: 16
Tax %: 34
Net Profit: 11
EPS: 17
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2024

: 383
: 302
Operating Profit: 84
OPM %: 22
Other Income: 3
Interest: 6
Depreciation: 2
: 76
Tax %: 28
Net Profit: 54
EPS: 28
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 28
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 28

Mar 2025

: 987
: 753
Operating Profit: 245
OPM %: 25
Other Income: 11
Interest: 25
Depreciation: 8
: 212
Tax %: 25
Net Profit: 159
EPS: 78
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 78
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 78

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:: —
1 Year:: -48%

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
LIABILITIES	-	-	-	-	-
Equity Capital	3	6	7	19	20
	2	9	25	127	489
	1	5	9	28	32
Trade Payables	10	23	23	41	185
	27	32	80	195	635
Total Liabilities	43	75	144	410	1,362
ASSETS	-	-	-	-	-
	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
Total Debt	17	28	71	184	271
Net Working Capital	2	4	4	83	291
Contingent Liabilities	0	5	20	26	335
Book Value per Share	17.19	24.88	47.26	76.21	250.82
Face Value	10.00	10.00	10.00	10.00	10.00
Total Debt	17	28	71	184	271
Net Working Capital	2	4	4	83	291
Contingent Liabilities	0	5	20	26	335
Book Value per Share	17.19	24.88	47.26	76.21	250.82
Face Value	10.00	10.00	10.00	10.00	10.00

Mar 2021

Equity Capital: 3
: 2
: 1
Trade Payables: 10
: 27
Total Liabilities: 43
: 19
Capital Work in Progress: 0
: 0
: 3
: 0
Cash & Bank: 0
: 21
Total Assets: 43
Total Debt: 17
Net Working Capital: 2
Contingent Liabilities: 0
Book Value per Share: 17.19
Face Value: 10.00
Total Debt: 17
Net Working Capital: 2
Contingent Liabilities: 0
Book Value per Share: 17.19
Face Value: 10.00

Mar 2022

Equity Capital: 6
: 9
: 5
Trade Payables: 23
: 32
Total Liabilities: 75
: 28
Capital Work in Progress: 0
: 3
: 1
: 0
Cash & Bank: 0
: 43
Total Assets: 75
Total Debt: 28
Net Working Capital: 4
Contingent Liabilities: 5
Book Value per Share: 24.88
Face Value: 10.00
Total Debt: 28
Net Working Capital: 4
Contingent Liabilities: 5
Book Value per Share: 24.88
Face Value: 10.00

Mar 2023

Equity Capital: 7
: 25
: 9
Trade Payables: 23
: 80
Total Liabilities: 144
: 29
Capital Work in Progress: 46
: 6
: 6
: 0
Cash & Bank: 2
: 55
Total Assets: 144
Total Debt: 71
Net Working Capital: 4
Contingent Liabilities: 20
Book Value per Share: 47.26
Face Value: 10.00
Total Debt: 71
Net Working Capital: 4
Contingent Liabilities: 20
Book Value per Share: 47.26
Face Value: 10.00

Mar 2024

Equity Capital: 19
: 127
: 28
Trade Payables: 41
: 195
Total Liabilities: 410
: 135
Capital Work in Progress: 52
: 11
: 15
: 79
Cash & Bank: 73
: 45
Total Assets: 410
Total Debt: 184
Net Working Capital: 83
Contingent Liabilities: 26
Book Value per Share: 76.21
Face Value: 10.00
Total Debt: 184
Net Working Capital: 83
Contingent Liabilities: 26
Book Value per Share: 76.21
Face Value: 10.00

Mar 2025

Equity Capital: 20
: 489
: 32
Trade Payables: 185
: 635
Total Liabilities: 1,362
: 269
Capital Work in Progress: 49
: 11
: 22
: 394
Cash & Bank: 70
: 546
Total Assets: 1,362
Total Debt: 271
Net Working Capital: 291
Contingent Liabilities: 335
Book Value per Share: 250.82
Face Value: 10.00
Total Debt: 271
Net Working Capital: 291
Contingent Liabilities: 335
Book Value per Share: 250.82
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	9	16	2	290
Cash from Investing	-14	-16	-41	-117	-522
Cash from Financing	13	7	27	135	270
	-0	-0	1	20	38
Free Cash Flow	0	-1	-33	-111	151
OCF / Net Profit	0.03	1.23	1.48	0.04	1.83
Cumulative 5-Year FCF	0	0	0	0	0
OCF / Net Profit	0.03	1.23	1.48	0.04	1.83
Cumulative 5-Year FCF	0	0	0	0	0

Mar 2021

: 0
Cash from Investing: -14
Cash from Financing: 13
: -0
Free Cash Flow: 0
OCF / Net Profit: 0.03
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.03
Cumulative 5-Year FCF: 0

Mar 2022

: 9
Cash from Investing: -16
Cash from Financing: 7
: -0
Free Cash Flow: -1
OCF / Net Profit: 1.23
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.23
Cumulative 5-Year FCF: 0

Mar 2023

: 16
Cash from Investing: -41
Cash from Financing: 27
: 1
Free Cash Flow: -33
OCF / Net Profit: 1.48
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.48
Cumulative 5-Year FCF: 0

Mar 2024

: 2
Cash from Investing: -117
Cash from Financing: 135
: 20
Free Cash Flow: -111
OCF / Net Profit: 0.04
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.04
Cumulative 5-Year FCF: 0

Mar 2025

: 290
Cash from Investing: -522
Cash from Financing: 270
: 38
Free Cash Flow: 151
OCF / Net Profit: 1.83
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.83
Cumulative 5-Year FCF: 0

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

Mar 2021

EPS (₹): 3.37
Book Value (₹): 17.19
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.16
Operating Margin %: 11.57%
Net Margin %: 3.31%
ROE %: 19.31%
ROCE %: 14.78%
: 2.34%
Debtor Days: 167
Inventory Days: 40
Payable Days: 150
: 57
Debt to Equity (x): 3.17x
Interest Coverage (x): 4.09x
: 1.10x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 11.30
Book Value (₹): 24.88
Dividend per Share (₹): 0.00
Cash EPS (₹): 6.35
Operating Margin %: 11.00%
Net Margin %: 5.60%
ROE %: 67.36%
ROCE %: 38.90%
: 11.67%
Debtor Days: 57
Inventory Days: 7
Payable Days: 58
: 6
Debt to Equity (x): 1.84x
Interest Coverage (x): 6.92x
: 1.12x
Revenue Growth %: 302.74%
Operating Profit Growth %: 282.89%
Net Profit Growth %: 580.95%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 15.74
Book Value (₹): 47.26
Dividend per Share (₹): 0.00
Cash EPS (₹): 8.74
Operating Margin %: 15.23%
Net Margin %: 7.84%
ROE %: 44.91%
ROCE %: 26.51%
: 9.62%
Debtor Days: 83
Inventory Days: 10
Payable Days: 82
: 11
Debt to Equity (x): 2.23x
Interest Coverage (x): 5.70x
: 1.08x
Revenue Growth %: 8.67%
Operating Profit Growth %: 50.52%
Net Profit Growth %: 52.24%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 28.33
Book Value (₹): 76.21
Dividend per Share (₹): 0.00
Cash EPS (₹): 29.36
Operating Margin %: 21.08%
Net Margin %: 14.18%
ROE %: 61.02%
ROCE %: 37.79%
: 19.59%
Debtor Days: 55
Inventory Days: 10
Payable Days: 41
: 24
Debt to Equity (x): 1.26x
Interest Coverage (x): 13.55x
: 1.67x
Revenue Growth %: 184.21%
Operating Profit Growth %: 307.87%
Net Profit Growth %: 413.91%
: 79.99%
P/E (x): 26.19x
P/B (x): 9.74x
Dividend Yield %: 0.00%
: 18.33x

Mar 2025

EPS (₹): 78.03
Book Value (₹): 250.82
Dividend per Share (₹): 0.00
Cash EPS (₹): 82.20
Operating Margin %: 23.76%
Net Margin %: 16.06%
ROE %: 48.35%
ROCE %: 42.70%
: 17.89%
Debtor Days: 87
Inventory Days: 7
Payable Days: 57
: 37
Debt to Equity (x): 0.53x
Interest Coverage (x): 9.62x
: 1.47x
Revenue Growth %: 157.83%
Operating Profit Growth %: 193.31%
Net Profit Growth %: 192.06%
: 175.41%
P/E (x): 16.79x
P/B (x): 5.22x
Dividend Yield %: 0.00%
: 11.66x

Shareholding Pattern

Numbers in percentages

TRADES

	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

Sep 2023

: 61.41
: 2.75
: 3.95
Government: 0.00
: 31.89

Mar 2024

: 61.41
: 1.17
: 1.94
Government: 0.00
: 35.48

Sep 2024

: 57.97
: 0.92
: 0.25
Government: 0.00
: 40.85

Mar 2025

: 57.97
: 0.85
: 0.30
Government: 0.00
: 40.87

Sep 2025

: 57.97
: 0.86
: 0.37
Government: 0.00
: 40.80

Mar 2026

: 57.98
: 0.32
: 0.32
Government: 0.00
: 41.38

Documents

Announcements

Nothing filed yet.

Annual Reports

Annual Report FY2025
2025
Annual Report FY2024
2024

Credit Ratings

Nothing filed yet.

Concalls

Jun 2026
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May 2026
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Dec 2025
Transcript PPTREC