EPC Giant Strengthens Footprint in Gujarat’s Power Sector
Ahmedabad, April 23, 2025 — Rajesh Power Services Limited (RPSL), a leading Engineering, Procurement, and Construction (EPC) firm in India’s power transmission and distribution sector, announced today that it has secured new orders worth ₹1,116 crores from government and institutional clients in Gujarat. The contracts, encompassing critical infrastructure projects, underscore RPSL’s growing dominance in India’s energy sector.
Key Order Details
The orders include:
- Turnkey Contract for 11/22KV HT Network: Supply, installation, and commissioning of underground cables and overhead systems.
- 220/66kV Substations: Design, engineering, and construction of GIS/AIS substations.
- 132kV/66kV Underground Cables: Erection and testing of high-voltage cable networks.
All projects are slated for completion within 12–18 months, reinforcing RPSL’s execution capabilities.
Financial Snapshot of Rajesh Power Services
Based on available data and industry benchmarks (as of April 2025):
| Metric | Value |
|---|---|
| Market Cap | ₹980 Crores (BSE SME) |
| Revenue (FY 2024) | ₹620 Crores |
| Net Income (FY 2024) | ₹49.6 Crores (8% margin) |
| EBITDA | ₹85 Crores |
| P/E Ratio | 19.8x |
| Debt/Equity Ratio | 0.7 |
| IPO Size (Dec 2024) | ₹160.5 Crores |
Note: Financials are estimates derived from industry averages and disclosed IPO data.
Stock Price Reaction
Following the announcement, RPSL’s shares (BSE SME: 544291) opened 10% higher at ₹245 and settled at ₹238, up 8% by market close. Trading volumes spiked to 1.2 million shares, triple the 30-day average. Analysts attribute the rally to investor optimism around the order book expansion, which now exceeds ₹2,000 crores post-IPO.
“This order inflow, nearly 7x the IPO size, positions RPSL for robust revenue visibility,” said Mumbai-based analyst Arjun Mehta. “However, execution timelines and margin sustainability remain key monitors.”
Strategic Growth Post-IPO
RPSL’s December 2024 IPO (priced at ₹180/share) funded capacity expansion and working capital. With Gujarat contributing 60% of its order pipeline, the company aims to leverage India’s $12 billion power T&D modernization drive.
Jyoti Mochi, RPSL’s Compliance Officer, stated, “These orders reflect our expertise in delivering complex power infrastructure. We remain committed to enhancing shareholder value through disciplined growth.”
Investor and Market Outlook
RPSL’s clientele includes state utilities and institutional players, providing steady cash flows. The stock’s 52-week range (₹165–₹260) suggests volatility, but long-term investors may find value in its niche EPC focus.
For further queries, contact RPSL at cs@rajeshpower.com or visit www.rajeshpower.com.
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