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Rajesh Power Secures ₹1,628.74-Crore Order from DGVCL for Underground Cables
Sentiment: NeutralHigh Priority
What Happened?
Rajesh Power Services Limited has received a ₹1,628.74 crore order from Dakshin Gujarat Vij Company Limited (DGVCL) to convert overhead electricity networks into underground systems. The project will last 24 months and increase the company's order book to approximately ₹5,400 crore.
Key points
- The order is part of a 24-month turnkey project to modernize electricity distribution.
- Rajesh Power's order book increased from ₹4,000 crore to ₹5,400 crore, a 35% rise.
- The company reported a 35% year-on-year increase in profit after tax to ₹79.22 crore.
- Total income grew by 46% to ₹931.8 crore in the first half of FY27.
- Rajesh Power's shares rose over 3.6% to ₹825 following the order announcement.
Key insights
- The successful execution of this project may lead to further contracts in the region.
- Increased order book could improve investor confidence in Rajesh Power.
- The company's growth in profit suggests effective project management and execution.
Why it matters
This order could significantly enhance Rajesh Power's market position and financial stability.
Tags
Entities
Rajesh Power Services Limited· CompanyDakshin Gujarat Vij Company Limited· CompanyGujarat· State
Source
Business Standard
