Synopsis: Solar stock rose 2% after securing a 10-year Green Ammonia deal with SECI under India’s National Green Hydrogen Mission, supplying 60,000 tonnes annually (~Rs. 3,135 crore).
The shares of the Small-cap company specialising in engineering, procurement, construction (EPC), and operation of solar energy projects for industrial and commercial customers, jumped by upto 2 percent upon signing a long-term agreement worth Rs. 3,135 crore with Solar Energy Corporation of India.
With a market capitalization of 3,413.62 Crores in the day’s trade, the shares of Oriana Power Limited jumped by upto 2.02 percent, reaching a high of Rs. 1,708.95 compared to its opening price of Rs. 1,675.00.
What Happened
TrueRE Oriana Power the brand/operating name for Oriana Power Limited, a prominent Indian solar energy solution signed a long-term Green Ammonia Purchase Agreement with Solar Energy Corporation of India under India’s National Green Hydrogen Mission.
The deal covers the supply of 60,000 tonnes of green ammonia annually at Rs. 52.25 per kg, amounting to a total contract value of about Rs. 3,135 crore over 10 years. The corresponding sale agreement has been signed between SECI and Madhya Bharat Agro Products Limited, the end user.
The project was awarded to TrueRE Oriana Power in August 2025 under the SIGHT programme and was formally signed on March 30, 2026, in New Delhi in the presence of Union Ministers Pralhad Joshi, J. P. Nadda, and Shripad Yesso Naik, along with key industry stakeholders.
The green ammonia project will be developed in Sagar, Madhya Pradesh, with TrueRE Oriana Power handling end-to-end execution, including development, approvals, and land clearances.
Mr Anirudh Saraswat, Founder and CBO, TrueRE Oriana Power, said the agreement is a major step in turning policy into action, providing long-term demand certainty needed to scale green hydrogen and ammonia projects.
He emphasised that green ammonia can boost India’s energy security by reducing reliance on imported fossil-based inputs, especially in fertilisers. He added that such long-term partnerships will help accelerate clean energy adoption across industries, reaffirming TrueRE Oriana Power’s commitment to integrated renewable solutions and the country’s clean energy transition.
Financials & Others
The company’s revenue rose by 116.9 percent from Rs. 360 crores in September 2024 to Rs. 781 crores in September 2025. Meanwhile, Net profit from Rs. 49 crores rose to Rs. 122 crores in the same period.
The company demonstrates strong capital efficiency, with a high ROCE of 42.3% and ROE of 48.4%, indicating effective utilisation of both equity and overall capital. Its 3-year average ROE of 50.7% further reinforces consistent profitability. A moderate debt-to-equity ratio of 0.50 suggests a balanced approach to leverage, reducing financial risk while still supporting growth.
Valuation metrics appear attractive, with a stock P/E of 14.7 compared to the industry average of 22.9, and a very low PEG ratio of 0.08, implying the stock may be undervalued relative to its growth. This is supported by impressive profit growth, with a 189% CAGR over the past five years, highlighting strong earnings momentum and scalability.
Oriana Power is a Noida-based leading Indian renewable energy company founded in 2013, specializing in solar energy solutions for industrial and commercial customers. The company offers end-to-end services, including Engineering, Procurement, and Construction (EPC) and Building-Own-Operate-Transfer (BOOT) models for rooftop, ground-mounted, and floating solar projects.
The company has successfully delivered over 575 MW of projects, with 550 MW currently under execution and a workforce of 350+ employees. It holds an A-/Stable credit rating from CRISIL. In the energy storage sector, the company has won and is executing 800+ MWh of BESS projects, with an additional 2,000+ MWh in the pipeline.
It also has a green ammonia allocation of 60,000 MTPA and aims to achieve over 1 GW of renewable energy capacity by 2026, including 2,000+ MW of solar capacity in the pipeline, with approximately 3,500 acres of land acquired and secured across India, and more in the pipeline.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Solar Stock Jumps After Signing ₹3,135 Cr Agreement with Solar Energy Corp. of India appeared first on Trade Brains.