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/E0.0

Book Value₹ 256

Price to Book5.11

Dividend Yield0.00 %

ROCE63.0 %

ROE48.6 %

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 is almost debt free
Company has a healthy return on capital (ROCE) of 60.1%
Company has a good return on equity (ROE) track record: 3 Years ROE 51.3%
Operating margins have improved to 21.7% from 9.8%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.09x)

CONS

Receivables are growing faster than sales - a possible quality concern
Equity base is being diluted - shares outstanding up 229.9%
Contingent liabilities are large at 106.9% of net worth
Working capital days have increased from 60 to 110 days
Free cash flow has been persistently negative
Stock is trading at 5.1x 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

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

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

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	34	101	133	377	1,019
	30	92	115	301	797
Operating Profit	4	10	19	79	233
OPM %	12	10	14	21	23
Other Income	0	1	1	3	11
Interest	0	0	1	3	10
Depreciation	0	0	0	0	1
	4	10	18	76	222
Tax %	26	27	30	27	26
Net Profit	3	7	12	55	163
EPS	75	23	20	29	80
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	5	6	9	29	80
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	5	6	9	29	80

Mar 2021

: 34
: 30
Operating Profit: 4
OPM %: 12
Other Income: 0
Interest: 0
Depreciation: 0
: 4
Tax %: 26
Net Profit: 3
EPS: 75
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2022

: 101
: 92
Operating Profit: 10
OPM %: 10
Other Income: 1
Interest: 0
Depreciation: 0
: 10
Tax %: 27
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

: 133
: 115
Operating Profit: 19
OPM %: 14
Other Income: 1
Interest: 1
Depreciation: 0
: 18
Tax %: 30
Net Profit: 12
EPS: 20
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9

Mar 2024

: 377
: 301
Operating Profit: 79
OPM %: 21
Other Income: 3
Interest: 3
Depreciation: 0
: 76
Tax %: 27
Net Profit: 55
EPS: 29
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 29
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 29

Mar 2025

: 1,019
: 797
Operating Profit: 233
OPM %: 23
Other Income: 11
Interest: 10
Depreciation: 1
: 222
Tax %: 26
Net Profit: 163
EPS: 80
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 80
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 80

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 116%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 186%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: —
5 Years:: 49%
3 Years:: 51%
Last Year:: 49%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	3	6	7	19	20
	5	12	29	132	500
	1	5	7	28	31
Trade Payables	10	24	11	51	185
	11	10	23	68	396
Total Liabilities	30	56	78	298	1,133
ASSETS	-	-	-	-	-
	0	0	1	2	3
	7	12	31	89	114
	1	1	6	15	22
	0	0	0	87	387
Cash & Bank	0	0	6	61	55
	22	43	35	45	551
Total Assets	30	56	78	298	1,133
Total Debt	1	8	15	33	33
Net Working Capital	1	7	8	62	308
Contingent Liabilities	13	27	80	164	557
Book Value per Share	25.12	28.83	53.59	78.81	256.27
Face Value	10.00	10.00	10.00	10.00	10.00
Total Debt	1	8	15	33	33
Net Working Capital	1	7	8	62	308
Contingent Liabilities	13	27	80	164	557
Book Value per Share	25.12	28.83	53.59	78.81	256.27
Face Value	10.00	10.00	10.00	10.00	10.00

Mar 2021

Equity Capital: 3
: 5
: 1
Trade Payables: 10
: 11
Total Liabilities: 30
: 0
: 7
: 1
: 0
Cash & Bank: 0
: 22
Total Assets: 30
Total Debt: 1
Net Working Capital: 1
Contingent Liabilities: 13
Book Value per Share: 25.12
Face Value: 10.00
Total Debt: 1
Net Working Capital: 1
Contingent Liabilities: 13
Book Value per Share: 25.12
Face Value: 10.00

Mar 2022

Equity Capital: 6
: 12
: 5
Trade Payables: 24
: 10
Total Liabilities: 56
: 0
: 12
: 1
: 0
Cash & Bank: 0
: 43
Total Assets: 56
Total Debt: 8
Net Working Capital: 7
Contingent Liabilities: 27
Book Value per Share: 28.83
Face Value: 10.00
Total Debt: 8
Net Working Capital: 7
Contingent Liabilities: 27
Book Value per Share: 28.83
Face Value: 10.00

Mar 2023

Equity Capital: 7
: 29
: 7
Trade Payables: 11
: 23
Total Liabilities: 78
: 1
: 31
: 6
: 0
Cash & Bank: 6
: 35
Total Assets: 78
Total Debt: 15
Net Working Capital: 8
Contingent Liabilities: 80
Book Value per Share: 53.59
Face Value: 10.00
Total Debt: 15
Net Working Capital: 8
Contingent Liabilities: 80
Book Value per Share: 53.59
Face Value: 10.00

Mar 2024

Equity Capital: 19
: 132
: 28
Trade Payables: 51
: 68
Total Liabilities: 298
: 2
: 89
: 15
: 87
Cash & Bank: 61
: 45
Total Assets: 298
Total Debt: 33
Net Working Capital: 62
Contingent Liabilities: 164
Book Value per Share: 78.81
Face Value: 10.00
Total Debt: 33
Net Working Capital: 62
Contingent Liabilities: 164
Book Value per Share: 78.81
Face Value: 10.00

Mar 2025

Equity Capital: 20
: 500
: 31
Trade Payables: 185
: 396
Total Liabilities: 1,133
: 3
: 114
: 22
: 387
Cash & Bank: 55
: 551
Total Assets: 1,133
Total Debt: 33
Net Working Capital: 308
Contingent Liabilities: 557
Book Value per Share: 256.27
Face Value: 10.00
Total Debt: 33
Net Working Capital: 308
Contingent Liabilities: 557
Book Value per Share: 256.27
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	2	1	13	13	226
Cash from Investing	-5	-6	-15	-60	-392
Cash from Financing	3	5	8	58	199
	-0	-0	6	12	33
Free Cash Flow	2	1	11	13	225
OCF / Net Profit	0.69	0.12	1.00	0.24	1.39
Cumulative 5-Year FCF	0	0	0	0	0
OCF / Net Profit	0.69	0.12	1.00	0.24	1.39
Cumulative 5-Year FCF	0	0	0	0	0

Mar 2021

: 2
Cash from Investing: -5
Cash from Financing: 3
: -0
Free Cash Flow: 2
OCF / Net Profit: 0.69
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.69
Cumulative 5-Year FCF: 0

Mar 2022

: 1
Cash from Investing: -6
Cash from Financing: 5
: -0
Free Cash Flow: 1
OCF / Net Profit: 0.12
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.12
Cumulative 5-Year FCF: 0

Mar 2023

: 13
Cash from Investing: -15
Cash from Financing: 8
: 6
Free Cash Flow: 11
OCF / Net Profit: 1.00
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.00
Cumulative 5-Year FCF: 0

Mar 2024

: 13
Cash from Investing: -60
Cash from Financing: 58
: 12
Free Cash Flow: 13
OCF / Net Profit: 0.24
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.24
Cumulative 5-Year FCF: 0

Mar 2025

: 226
Cash from Investing: -392
Cash from Financing: 199
: 33
Free Cash Flow: 225
OCF / Net Profit: 1.39
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.39
Cumulative 5-Year FCF: 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-
EPS (₹)	9.20	11.29	18.61	28.74	80.39
Book Value (₹)	25.12	28.83	53.59	78.81	256.27
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	4.65	5.69	9.37	28.92	80.65
PROFITABILITY	-	-	-	-	-
Operating Margin %	11.89%	9.83%	14.48%	20.22%	21.74%
Net Margin %	8.37%	6.90%	9.39%	14.61%	16.04%
ROE %	36.61%	54.61%	46.49%	58.92%	48.62%
ROCE %	47.05%	58.09%	50.18%	67.01%	63.00%
	9.53%	16.31%	18.72%	29.33%	22.83%
EFFICIENCY	-	-	-	-	-
Debtor Days	170	72	75	57	85
Inventory Days	7	3	9	10	7
Payable Days	134	70	61	40	56
	42	4	23	27	35
FINANCIAL HEALTH	-	-	-	-	-
Debt to Equity (x)	0.10x	0.43x	0.42x	0.22x	0.06x
Interest Coverage (x)	23.36x	30.14x	13.64x	25.97x	22.20x
	1.03x	1.20x	1.22x	1.43x	1.50x
GROWTH	-	-	-	-	-
Revenue Growth %	0.00%	198.65%	31.91%	183.83%	169.98%
Operating Profit Growth %	0.00%	146.78%	94.30%	310.41%	194.96%
Net Profit Growth %	0.00%	146.30%	79.51%	341.58%	196.28%
	0.00%	0.00%	0.00%	54.46%	179.71%
VALUATION	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	25.82x	16.29x
P/B (x)	0.00x	0.00x	0.00x	9.41x	5.11x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	17.67x	11.33x

Mar 2021

EPS (₹): 9.20
Book Value (₹): 25.12
Dividend per Share (₹): 0.00
Cash EPS (₹): 4.65
Operating Margin %: 11.89%
Net Margin %: 8.37%
ROE %: 36.61%
ROCE %: 47.05%
: 9.53%
Debtor Days: 170
Inventory Days: 7
Payable Days: 134
: 42
Debt to Equity (x): 0.10x
Interest Coverage (x): 23.36x
: 1.03x
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 (₹): 11.29
Book Value (₹): 28.83
Dividend per Share (₹): 0.00
Cash EPS (₹): 5.69
Operating Margin %: 9.83%
Net Margin %: 6.90%
ROE %: 54.61%
ROCE %: 58.09%
: 16.31%
Debtor Days: 72
Inventory Days: 3
Payable Days: 70
: 4
Debt to Equity (x): 0.43x
Interest Coverage (x): 30.14x
: 1.20x
Revenue Growth %: 198.65%
Operating Profit Growth %: 146.78%
Net Profit Growth %: 146.30%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 18.61
Book Value (₹): 53.59
Dividend per Share (₹): 0.00
Cash EPS (₹): 9.37
Operating Margin %: 14.48%
Net Margin %: 9.39%
ROE %: 46.49%
ROCE %: 50.18%
: 18.72%
Debtor Days: 75
Inventory Days: 9
Payable Days: 61
: 23
Debt to Equity (x): 0.42x
Interest Coverage (x): 13.64x
: 1.22x
Revenue Growth %: 31.91%
Operating Profit Growth %: 94.30%
Net Profit Growth %: 79.51%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 28.74
Book Value (₹): 78.81
Dividend per Share (₹): 0.00
Cash EPS (₹): 28.92
Operating Margin %: 20.22%
Net Margin %: 14.61%
ROE %: 58.92%
ROCE %: 67.01%
: 29.33%
Debtor Days: 57
Inventory Days: 10
Payable Days: 40
: 27
Debt to Equity (x): 0.22x
Interest Coverage (x): 25.97x
: 1.43x
Revenue Growth %: 183.83%
Operating Profit Growth %: 310.41%
Net Profit Growth %: 341.58%
: 54.46%
P/E (x): 25.82x
P/B (x): 9.41x
Dividend Yield %: 0.00%
: 17.67x

Mar 2025

EPS (₹): 80.39
Book Value (₹): 256.27
Dividend per Share (₹): 0.00
Cash EPS (₹): 80.65
Operating Margin %: 21.74%
Net Margin %: 16.04%
ROE %: 48.62%
ROCE %: 63.00%
: 22.83%
Debtor Days: 85
Inventory Days: 7
Payable Days: 56
: 35
Debt to Equity (x): 0.06x
Interest Coverage (x): 22.20x
: 1.50x
Revenue Growth %: 169.98%
Operating Profit Growth %: 194.96%
Net Profit Growth %: 196.28%
: 179.71%
P/E (x): 16.29x
P/B (x): 5.11x
Dividend Yield %: 0.00%
: 11.33x

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
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