Insolation Energy Order, Bondada Engineering And Oriana Power Excellent Results
Insolation Energy Ltd.
Recent filing: (ORDER) Insolation Energy has bagged purchase orders worth INR 93.5 Cr for the supply of Solar PV Modules to APM Projects Pvt. Ltd. - Jaipur (INR 17.1 Cr) & Rotomag Motors & Control Pvt. Ltd. – Gujarat (INR 76.4 Cr).
Summary: 4y Operating Profit uptrend | 3h Operating Profit Uptrend | PE 163x (Sector PE range 30-60) | Excellent Sep-23 results | Promoter buying | Solar
- MCap of INR 3,449 Crore (share price = INR 1,656 / share) (as on 2nd May ‘24)
- TTM PE of 163x (as on 2nd May ‘24) Retail float = 11.3% (Mar-24)
FOOD FOR THOUGHT: PE multiple is above sector range
What are the products and services of Insolation Energy?
Incorporated in 2015, Insolation Energy is solar energy provider and has set up a fully automatic solar PV module manufacturing plant Jaipur. Product portfolio: solar automatic solar PV module manufacturing plan module, solar PCU (power conditioning unit) solar battery and solar charge controller.
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Bondada Engineering Ltd.
Recent filing: (EXCELLENT RESULTS) For the half year ending Mar-24 for Bondada Engineering, Sales up 71% YoY from INR 296 Cr in Mar-23 to INR 505 Cr in Mar-24. Similarly, Net Profit up 2.1x from INR 14.9 Cr to INR 31.4 Cr. On a HoH basis, Sales up 2x and Net Profit up 2.5x.
SUMMARY: 3y Operating Profit uptrend | PE 73.5x (Sector PE range 30-50) | Excellent Mar-24 results | 5G+Solar Infrastructure
- MCap of INR 3,380 Crore (share price = INR 1,565 / share) (as on 2nd May ‘24)
- TTM PE of 73.5x (as on 2nd May ‘24) Retail float = 16.4% (Mar-24)
FOOD FOR THOUGHT: PE multiple is above sector range.
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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Oriana Power Ltd.
Recent filing: (EXCELLENT RESULTS) For the half year ending Mar-24 for Oriana Power, Sales up 4x from INR 64 Cr in Sep-23 to 319 Cr in Mar-24 while Net profit up 8.5x from INR 5.7 Cr in Sep-23 to INR 48.6 Cr in Mar-24.
SUMMARY: 4y Operating Profit uptrend | PE 59.3x (Sector PE range 30-50) | Institution buying | Clean Energy
- Mcap of INR 3,222 Crore (share price = INR 1,680 / share) (as on 2nd May ‘24)
- TTM PE 59.3x (as on 2nd 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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