Sovrenn Daily News - 8th Nov 2024

Aurionpro Solutions

Recent filing: (ORDER) Aurionpro Solutions has secured a major contract from Chennai Metro Rail Corporation Limited (CMRL) to deliver Automated Fare Collection (AFC) systems for Phase II of the Chennai Metro, covering Corridors 3 and 5. The project includes design, supply, installation, and long-term maintenance of the AFC systems, enhancing ticketing and fare management. Positioned in Chennai’s IT corridor, this initiative aims to boost operational efficiency and commuter convenience through advanced technology.

SUMMARY: 4y Operating Profit uptrend | 7q Operating Profit uptrend | PE 55.1x (Sector PE range 30-50) | Excellent Sep-24 results | Fund raise | Institutional entry | Acquisition | Partnership | Large order | Orderbook of INR 1,150 Cr+ (Sep-24) (1x of TTM revenue) | New-age IT

FUTURE OUTLOOK: As per the Q2FY25 Concall, Company is optimistic about achieving its guided growth of over 30%+ for FY25, while ensuring that earnings margins stay within the projected range.

• MCap of INR 9,070 Crore (share price = INR 1,643 / share) (as on 8st Nov ‘24)
• TTM PE of 55.1x (as on 8st Nov ‘24) Retail float = 8.6% (Sep-24)

FOOD FOR THOUGHT: PE is above sector range

Company Description: Aurionpro is the convergence of advanced technology solutions that help enterprises accelerate Digital Innovation - securely and efficiently. It is 'One Platform', guiding businesses to ADAPT to a new paradigm in Digital Transformation across Banking Transportation, Logistics, and Government sectors.

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Shakti Pumps (India) Ltd.

Recent filing: (ORDER) Shakti Pumps has received a work order worth INR 116 Cr under Component-B of the PM-KUSUM scheme from the Haryana Renewable Energy Department (HAREDA) for 3,174 pumps. This includes the supply, installation, and commissioning of solar water pumping systems within a 120-day period from the date of issuance of the work order.

SUMMARY: 2y Operating Profit uptrend | 4q Operating Profit uptrend | PE 28.6x (Sector PE range 30-60) | Excellent Sep-24 results | Fund raise | Expanding into EV Mobility through WOS | Promoter Buying | Institutional Entry | Order Book of INR 1,800 Cr (Sep-24) (0.8x times of TTM Revenue) | Solar Pumps | Capital Goods – Non-Electrical Equipment

FUTURE OUTLOOK: As per Q1FY25 Concall, Company expecting revenue growth of around 25% - 30% for next 3 to 4 years | As per Q2FY25 Investor Presentation, Company manufacturing Solar Structures for Solar Panels with capacity of 1,00,000 units per annum, with Capacity Expansion in Progress to Double existing capacities.

• MCap of INR 9,401 Crore (share price = INR 4,692 / share) (as on 8st Nov ‘24)
• TTM PE 28.6x (as on 8st Nov ‘24) Retail float = 23.5% (Sep-24)

FOOD FOR THOUGHT: Company's revenue heavily relies on government tenders in the solar pumps market, with growth tied to government initiatives.

Company Description: Company is involved in the manufacturing of energy-efficient pumps and motors. Its latest series of new advanced solar energy-operated pumps has emerged as a prestigious brand in domestic and international markets. These pumps are used for a variety of purposes, including cutting and grinding, fire-fighting, managing sewage, and heating and cooling systems.

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Oriana Power Ltd.

Recent filing: (ORDER) Oriana Power has received new Award of Contract worth INR 83.6 Cr for the development of solar power plant of 19.26 MW under the segment of Engineering Procurement and Commissioning (EPC) from NTPC and scheduled to be completed within 8 months.

SUMMARY: 4y Operating Profit uptrend | 1h Operating Profit uptrend | PE 87.8x (Sector PE range 50-90) | Excellent Mar-24 results | Institution buying | Fund Raise | Large Order | Ace Investor | Clean Energy

FUTURE OUTLOOK: As per Aug 2024 Investor Presentation, as part of its Vision 2030, Company aims to achieve 6 GW+ EPC capacity & 2.5 GW+ IPP capacity. Company’s vision is to be a credible significant player in BESS with a cumulative capacity of 3.5 GWh by 2030. Company’s plan is to substantially upscale its CBG production capacity with a CAGR of 25%.

• Mcap of INR 4,764 Crore (share price = INR 2,484 / share) (as on 8st Nov ’24)
• TTM PE 87.8x (as on 8st Nov ’24) Retail float = 22.1% (Sep-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.

Company Description: 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).