Orient Green Power Company Limited (GREENPOWER)

Power · Power · NSE · Updated 15 July 2026

₹9.99 ↓ 34.02% (1Y)

🎯 Key Takeaways

Orient Green Power Company Limited is transitioning from a historically loss-making renewable energy developer to a profitable, asset-rich clean energy platform, marked by record profitability in FY26 and strategic consolidation of its project portfolio. The company has stabilized operations through cost optimization, interest reduction, and asset repowering, positioning for sustained growth in solar and wind capacity additions.
Revenue declined 72.2% QoQ to ₹35 in Q3FY25.
⚠️ 1) Seasonal volatility in project execution and revenue remains a concern, as evidenced by Q3FY25 and Q4FY24 losses despite FY26 profitability. 2) The

Market Cap

₹1,335

P/E Ratio

43.8

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Orient Green Power Company Limited is transitioning from a historically loss-making renewable energy developer to a profitable, asset-rich clean energy platform, marked by record profitability in FY26 and strategic consolidation of its project portfolio. The company has stabilized operations through cost optimization, interest reduction, and asset repowering, positioning for sustained growth in solar and wind capacity additions.

📰 What's Happening

The company reported record net profit of ₹71.57 crores in FY26, up 70% YoY, driven by a 13% revenue increase to ₹315.57 crores, a 21% reduction in interest costs to ₹57.18 crores, and a ₹16 crore interest refund. It commissioned its first 7 MW solar plant in December 2025 and expanded wind capacity by 9.9 MW with larger turbines. Management highlighted plans to add 17.6 MW solar capacity and complete repowering investments in FY2026-27, with returns expected in the next fiscal. The acquisition of Delta Renewable Energy was finalized through allotment of 2,19,59,094 shares, securing 70% ownership without dilution, consolidating solar project development in Tamil Nadu.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	44	79	122	34	36	63	124	35
Operating Profit	30	51	115	20	15	46	106	17
OPM %	48.9%	73.8%	82.1%	40.9%	39.6%	64.3%	82.4%	31.3%
Net Profit	-19	9	75	-21	-25	13	66	-22
EPS	₹-0.27	₹0.11	₹0.92	₹-0.21	₹-0.26	₹0.12	₹0.60	₹-0.20

Financial performance shows a sharp turnaround, with profitability emerging after years of losses, supported by revenue growth and significant interest cost reduction. The shift from seasonal losses in Q3FY25 and Q4FY24 to strong returns in Q2FY25 and Q2FY24 reflects improved operational efficiency and project execution. The record FY26 profit aligns with management’s narrative of achieving scale and cost discipline, with interest refunds and lower financing costs playing a material role in margin expansion despite macro headwinds.

🔮 Management Outlook & What's Next

Management expressed confidence in sustained growth, citing plans to expand solar capacity by 17.6 MW and complete repowering investments in FY2026-27, with returns expected from the next fiscal year. The company emphasized that its strategic focus remains on asset consolidation, operational efficiency, and reducing financing costs to drive profitability. No specific revenue or margin targets were provided, but the commentary underscores a shift toward predictable, asset-backed earnings from operationalized projects.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Power

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Adani Power Limited	4.27 L Cr	32.9	15.7%	19.8%	0.82
NTPC Limited	3.83 L Cr	15.8	8.8%	13.1%	1.34
Power Grid Corporation of India Limited	2.84 L Cr	18.3	12.2%	16.8%	1.41
Adani Green Energy Limited	2.27 L Cr	105.3	7.6%	11.2%	5.08
Adani Energy Solutions Limited	1.57 L Cr	65.4	10.4%	9.0%	1.92
Tata Power Company Limited	1.30 L Cr	34.1	—	—	—
NTPC Green Energy Limited	90,996	163.8	—	—	—
JSW Energy Limited	90,509	46.8	—	—	—
NHPC Limited	77,136	28.4	—	—	—
Torrent Power Limited	73,872	29.9	—	—	—

🔗 Peer Stock Analyses

ADANIPOWER NTPC POWERGRID ADANIGREEN ADANIENSOL

⚠️ Risk Factors

1) Seasonal volatility in project execution and revenue remains a concern, as evidenced by Q3FY25 and Q4FY24 losses despite FY26 profitability. 2) The ₹1,000 crore loan authorization to subsidiaries introduces financial risk if project returns are delayed or underperform. 3) The related party transaction with Beta Wind Farm, while justified, requires ongoing scrutiny for pricing fairness and governance transparency. 4) High P/E of 43.8 reflects elevated valuation expectations, making the stock sensitive to any earnings miss or guidance downgrade.

📋 Recent Filings

🧠 Analyst's Read

Orient Green Power is executing a credible turnaround, transitioning from loss-making operations to a profitable renewable energy platform with growing asset base and improved cost structure. The key watchpoints are the pace of capacity additions, realization of returns from repowering investments, and sustainability of margins amid competitive power markets. Investors should monitor quarterly execution against expansion plans and any shifts in institutional sentiment, particularly from DIIs.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-15.

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