Ravindra Energy Limited has won two major contracts from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) to develop and operate decentralized solar projects across Maharashtra.
The projects will have a total capacity of 120 MW and will be spread across 23 MSEDCL substations.
Under a 25-year Power Purchase Agreement (PPA), MSEDCL will buy the electricity generated, giving Ravindra Energy a stable and guaranteed revenue stream for the next 25 years.
Following the announcement, Ravindra Energy’s shares hit a 5% upper circuit, trading at Rs. 169.95, up from the previous closing price of Rs 165 per share. The company has a market capitalization of Rs. 3,034.53 crore.
Ravindra Energy works in coal trading, solar installations, solar water pumping solutions, and power generation. Currently, it has 158 MWp of renewable energy operational, 87 MWp under construction, and 258 MWp in the development pipeline.
The company’s revenue has grown a lot, from Rs 23 crore in Q1FY25 to Rs 163 crore in Q1FY26, and net profit rose from Rs 6 crore to Rs 23 crore during the same time. Its return on equity is 10% and return on capital employed is 9.53%.
The new MSEDCL contract is a big support for Ravindra Energy. This will help the company to grow and strengthen its position.
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