ORIANA
Oriana Power share price & financials
- Price
- ₹1,656.35
- Market cap
- ₹2.5k Cr
- Sector
- Capital Goods
- Calls analysed
- 3
Oriana Power Ltd Q4 FY26
What went well
- Consolidated revenue grew by nearly 84% to INR 1,814 crore in FY26.
- EBITDA grew by over 73% to INR 425 crore in FY26.
- PAT increased by 59% to INR 250 crore in FY26, maintaining a healthy double-digit profitability (~14% PAT margin).
What to watch
- FY26 performance saw a shortfall from expected targets due to external disturbances like raw material price volatility, currency fluctuations, and geopolitical issues.
- Deferment of the Actis deal beyond FY26 impacted profitability, though it is now expected to be booked in H1 FY27.
What Oriana Power Ltd does
Oriana Power designs, engineers, procures and constructs (EPC) solar power plants and battery energy storage systems (BESS) for industrial, commercial and utility customers, and also builds and operates its own renewable assets as an independent power producer (IPP) under RESCO/BOOT models where customers pay per unit of electricity instead of upfront capital. Its delivery formats span ground-mount, rooftop, carport, floating solar, solar parks and hybrid solar+BESS installations. The company is extending the same value chain into new consumption-side verticals -- green hydrogen, green ammonia, e-methanol and compressed biogas (CBG) -- and has tied up a large India-wide land bank to site these projects. It also holds empanelments and offtake tie-ups with public-sector entities such as SECI and NTPC-linked bodies.
Segments
- Generation
- Storage
- Consumption
- Cumulative solar projects delivered
- 835+ MW
- Solar capacity under execution
- 700+ MW
- Solar capacity in pipeline
- 2,500+ MW
- BESS projects under execution
- 1,000+ MWh
- BESS capacity in pipeline
- 3,000+ MWh
- Green ammonia supply agreement (10-year, with SECI)
- 60,000 tonnes per annum
Guidance record · Q4 FY26
what the last two calls moved 20 tracked 2 delivered 6 missed 12 open- Start of Quarterly Financial Reporting delivered said Q4 FY25 Promised: Next year onwards (maybe Dec quarter) Q4 FY26: Continued practice of quarterly reporting, as evidenced by the Q4 earnings call.
- Cumulative Solar EPC Capacity missed said Q4 FY25 Promised: 1 GW+ by FY26 Q4 FY26: Delivered 835+ MWp in FY26, missing both the original (1 GW+) and revised (2 GW+) targets.
- Main Board Migration Timeline delayed said Q4 FY25 Promised: August (tentative) Q4 FY26: Reiterated commitment but softened the timeline, stating a definitive timeline will be announced post-board approval, moving away from the specific August 2026 mention.
All 20 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 223.5%, net profit up 165.3% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 64 | 319 | 360 | 628 | 781 +1120% | 1,032 +224% |
| EBITDA | 11 | 69 | 75 | 159 | 180 +1536% | 218 +216% |
| Net profit | 6 | 49 | 49 | 110 | 122 +1933% | 130 +165% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −52.4% 1Y
1Y: ₹2,576.1 on 10 Sept 2025 → ₹1,227.25. High ₹3,001.1 (31 Oct 2025), low ₹1,192.05 (21 Aug 2026).
How the price took the results
close before → close after
- Q4 FY26
- −5.6%
- 10 Jun
- Q2 FY26
- +2.1%
- 25 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹6 Cr | ₹7 Cr | ₹19 Cr | ₹20 Cr | ₹20 Cr |
| Reserves | ₹2 Cr | ₹9 Cr | ₹25 Cr | ₹127 Cr | ₹616 Cr | ₹743 Cr |
| Borrowings | ₹17 Cr | ₹28 Cr | ₹71 Cr | ₹184 Cr | ₹316 Cr | ₹509 Cr |
| Other liabilities | ₹22 Cr | ₹32 Cr | ₹42 Cr | ₹80 Cr | ₹743 Cr | ₹1.3k Cr |
| Total liabilities | ₹43 Cr | ₹75 Cr | ₹144 Cr | ₹410 Cr | ₹1.7k Cr | ₹2.6k Cr |
| Fixed assets | ₹19 Cr | ₹28 Cr | ₹29 Cr | ₹135 Cr | ₹270 Cr | ₹313 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹46 Cr | ₹52 Cr | ₹59 Cr | ₹146 Cr |
| Investments | ₹0 Cr | ₹3 Cr | ₹6 Cr | ₹11 Cr | ₹11 Cr | ₹16 Cr |
| Other assets | ₹24 Cr | ₹45 Cr | ₹63 Cr | ₹212 Cr | ₹1.4k Cr | ₹2.1k Cr |
| Total assets | ₹43 Cr | ₹75 Cr | ₹144 Cr | ₹410 Cr | ₹1.7k Cr | ₹2.6k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, FIIs trimmed −0.53 pp while the public added +0.51 pp. The shareholder count grew 5% to 15,186.
- Promoters
- 58.0%
- FIIs
- 0.3%
- DIIs
- 0.3%
- Public
- 41.4%
Since Mar 2025
- FIIs −0.53 pp
- Public +0.51 pp
- DIIs +0.02 pp
How it drifted, 6 quarters
Over this window the public went from 31.9% to 41.4% — +9.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 61.4%, FIIs 2.8%, DIIs 4.0%, Public 31.9%.Mar '24: Promoters 61.4%, FIIs 1.2%, DIIs 1.9%, Public 35.5%.Sep '24: Promoters 61.4%, FIIs 0.2%, Public 38.4%.Mar '25: Promoters 58.0%, FIIs 0.8%, DIIs 0.3%, Public 40.9%.Sep '25: Promoters 58.0%, FIIs 0.9%, DIIs 0.4%, Public 40.8%.Mar '26: Promoters 58.0%, FIIs 0.3%, DIIs 0.3%, Public 41.4%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Arpita Gupta newly disclosed 0.01% held
- Hemant Kumar newly disclosed 0.00% held
- Priyanka Sharma newly disclosed 0.00% held
- Munna Lal newly disclosed 0.00% held
- Rameshwar newly disclosed 0.00% held
- Sarla Devi newly disclosed 0.00% held
- Shobha Devi newly disclosed 0.00% held
- Innovest Ventures newly disclosed 0.00% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Oriana Power Ltd above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Parveen Kumar | 19.33% | unchanged |
| Rupal Gupta | 19.32% | unchanged |
| Anirudh Saraswat | 19.32% | unchanged |
| Anil Kumar Goel | 1.99% | unchanged |
| Neeraj Vishnukumar Gupta | 1.54% | −0.07 pp |
| Pooja Kedia | 1.30% | unchanged |
| Arpita Gupta | 0.01% | newly disclosed |
| Hemant Kumar | 0.00% | newly disclosed |
| Priyanka Sharma | 0.00% | newly disclosed |
| Munna Lal | 0.00% | newly disclosed |
| Rameshwar | 0.00% | newly disclosed |
| Sarla Devi | 0.00% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
- Growth the price implies
- -8.9% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse Oriana Power Ltd
Guides on how to read this kind of business and the numbers that matter.