Oriana Power has approved the sale of its entire 74% stake in certain subsidiaries holding solar assets to Helioact Power India 1 Private Limited for an aggregate estimated enterprise value of ₹954 crore. The Board of Directors granted approval during its meeting on May 28, 2026. This strategic divestment is subject to adjustments related to Battery Energy Storage System (BESS) infrastructure and regulatory conditions.

The transaction involves the sale of the company's entire shareholding, constituting 74% of the total share capital of each subsidiary, to Helioact, a group entity of Actis GP LLP. The definitive Share Purchase Agreement was executed on October 18, 2025. The company stated that Helioact does not belong to the promoter or promoter group of Oriana Power, and the transaction is not a related party transaction.

Key Transaction Details

The following table outlines the primary parameters of the proposed divestment:

Regulatory and Shareholder Approvals

Pursuant to Section 180(1)(a) of the Companies Act, 2013, the transaction requires approval from shareholders by way of a Special Resolution. The company will obtain this approval in compliance with Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 prior to the completion of the sale. The transaction is outside the Scheme of Arrangement.

The Board has reviewed the proposal, and the requisite disclosures have been made under Regulation 30 of the SEBI Listing Regulations and the relevant SEBI Master Circular. The company expects to complete the proposed transaction within the next 180 days, subject to the satisfaction of all conditions precedent and closing adjustments.

Oriana Power reported a 59% year-on-year increase in consolidated net profit to ₹2,523.39 crore for the financial year ended March 31, 2026. Revenue from operations surged 84% to ₹18,136.72 crore, driven primarily by the EPC segment and the emerging Battery Energy Storage Systems (BESS) vertical. The company’s board approved the audited financial results for the standalone and consolidated entities during a meeting held on May 28, 2026.

The statutory auditors, JVA & Associates, issued an unmodified opinion on the financial results. The audit report confirmed that the consolidated financial results give a true and fair view of the Group's net profit and financial information for the year ended March 31, 2026. The auditors noted that certain subsidiaries were excluded from consolidation as they were either held for disposal or were non-operational during the reporting period.

Consolidated Financial Performance

The company’s total income for FY26 stood at ₹18,410.17 crore, a significant increase from ₹9,980.67 crore in the previous year. Total expenses rose to ₹14,943.58 crore from ₹7,856.89 crore in FY25. Profit before tax for the year increased to ₹3,466.59 crore from ₹2,123.78 crore in the prior year. Basic earnings per share (EPS) improved to ₹124.19 from ₹79.53 in the previous year.

Key Consolidated Metrics (FY26)

Segment Performance

Oriana Power operates primarily through two business segments: EPC (Engineering, Procurement, and Construction) and RESCO (Renewable Energy Service Company). The EPC segment was the primary revenue driver, contributing ₹17,806.07 crore to the total segment revenue for the year. The RESCO segment contributed ₹330.66 crore. The EPC segment reported a profit before tax of ₹3,588.61 crore, while the RESCO segment reported a loss before tax of ₹122.02 crore.

Standalone Results

On a standalone basis, the company reported a net profit of ₹2,636.99 crore for FY26, up from ₹1,633.49 crore in the previous year. Revenue from operations for the standalone entity increased to ₹17,893.42 crore from ₹10,186.73 crore in FY25. Total standalone income rose to ₹18,200.33 crore from ₹10,301.27 crore in the prior year. Basic EPS on a standalone basis increased to ₹129.78 from ₹81.92.

Capital Allocation and Cash Flows

The company’s cash and bank balances increased substantially to ₹28,608.11 crore as of March 31, 2026, from ₹7,038.61 crore in the previous year. Cash generated from operating activities was ₹3,370.35 crore, while cash used in investing activities was ₹5,060.68 crore. The company raised funds through long-term and short-term borrowings, with net cash from financing activities amounting to ₹1,853.41 crore.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0OUT01019/b46a1252686b4ea9.pdf