Oriana Power And Bondada Engineering Order, Supreme Power Equipment Excellent Results

Oriana Power Ltd.

Recent filing: (ORDER) Oriana Power has received an order to build a 70 MWp solar power plant, handling EPC, commissioning, and 25 years of operation and maintenance, to be completed in 9 months.

SUMMARY: 4y Operating Profit uptrend | PE 92.3x (Sector PE range 50-90) | Excellent Mar-24 results | Institution buying | Fund Raise | Ace Investor | Clean Energy

  • Mcap of INR 5,007 Crore (share price = INR 2,610 / share) (as on 22nd May ‘24)
  • TTM PE 92.3x (as on 22nd May ‘24) Retail float = 11.3% (Mar-24)

FOOD FOR THOUGHT: Industry's fragmentation curtails pricing flexibility and bargaining power, constraining operating margins, while tender-based operations dictate revenue and profitability based on successful bids.

What are the products and services of Oriana Power?

Oriana Power is a company that specializes in providing solar energy solutions to industrial and commercial customers. It offers low carbon energy solutions by installing on-site solar projects such as rooftop and ground-mounted systems, as well as off-site solar farms i.e. Open access. The business operations are divided into two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO).

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Bondada Engineering Ltd.

Recent filing: (ORDER) Bondada Engineering has received a work order worth INR 13 Cr from Morphing Inovations Opc Pvt. Ltd. for the supply of Solar Street Light, needs to be delivered within 1 week.

SUMMARY: 3y Operating Profit uptrend | PE 88.5x (Sector PE range 30-50) | Excellent Mar-24 results | 5G+Solar Infrastructure

  • MCap of INR 3,958 Crore (share price = INR 1,832 / share) (as on 22nd May ‘24)
  • TTM PE of 88.5x (as on 22nd May ‘24) Retail float = 16.4% (Mar-24)

FOOD FOR THOUGHT: PE multiple is above sector range | Highly competitive sector

What are the products and services of Bondada Engineering?

Bondada is an infrastructure company that specializes in offering engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to clients in the telecom and solar energy sectors across India. Its expertise encompasses core design and engineering, with a focus on passive telecom infrastructure services such as construction, operation and maintenance of telecom towers, optical fiber cables and related infrastructure.

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Supreme Power Equipment Ltd.

Recent filing: (EXCELLENT RESULTS) For the half year ending Mar-24 for Supreme Power Equipment, Sales up 23% HoH from INR 48 Cr in Sep-23 to INR 59 Cr in Mar-24. Similarly, Net Profit up 33% from INR 6 Cr to INR 8 Cr.

SUMMARY: 1y Operating Profit uptrend | 2h Operating Profit uptrend | PE 29.4x (Sector PE range 30-60) | Excellent Mar-24 results | Orderbook INR 51.4 Cr (Mar 2024) | Institutional Entry | IPO | Capital Goods

  • MCap of INR 412 Crore (share price = INR 167 / share) (as on 22nd May ‘24)
  • TTM PE 29.4x (as on 22nd May ‘24) Retail float = 19.1% (Mar-24)

FOOD FOR THOUGHT: High customer concentration risk | High working capital intensity. .

What are the products and services of Bondada Engineering?

Company is engaged in manufacturing, upgrading, and refurbishing a range of transformers, including Power Transformers, Windmill Transformers, Distribution Transformers, Isolation Transformers, Solar Transformers, Energy Efficient Transformers, Converters and Rectifier Transformers.

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