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GREENPOWER - Orient Green

📊 NSE: GREENPOWER 🏢 Power Generation And Supply 📅 Last Updated: 12/14/2025 10:46

📢 Recent Corporate Announcements

NCLT Approves Merger of Promoter Entities; Aggregate Holding Unchanged at 24.38%

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 13 Mar 2026, 07:13 PM

The National Company Law Tribunal (NCLT) has approved the merger of promoter entities Nivedana Power Private Limited and Syandana Energy Private Limited into SVL Limited. This is an inter-se change in shareholding where the shares held by the two transferor companies will be consolidated into SVL Limited. Crucially, the total promoter shareholding in Orient Green Power Company Limited remains constant at 24.38%. The listed company is not a direct party to this merger scheme and its operations remain unaffected.

NCLT Chennai approved the merger of NPPL and SEPL into SVL Limited via order dated March 10, 2026
Total aggregate promoter holding in the company remains unchanged at 24.38%
NPPL and SEPL will cease to exist as separate entities following the consolidation into SVL Limited
Orient Green Power Company Limited is not a direct party to the merger scheme

💡 This is a routine administrative restructuring of promoter entities with no impact on company fundamentals. Investors should focus on the company's operational performance as the ownership percentage remains stable.

Orient Green Power Subsidiary Signs Rs 4.85 Cr Wind Project Agreement with Suzlon

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 27 Feb 2026, 03:56 PM

Orient Green Power's subsidiary, Clarion Wind Farm, has executed an agreement with Suzlon Southern Projects for a 6.3 MW wind repowering project. The contract covers supervision and commissioning at the Devarkulam site in Tamil Nadu for a consideration of Rs 4.85 Crores. The project is scheduled for completion by June 2026. This initiative aims to modernize existing infrastructure and potentially improve energy generation efficiency.

Agreement signed with Suzlon Southern Projects for a 6.3 MW wind repowering project
Total contract value is approximately Rs. 4.85 Crores inclusive of GST
Project completion is targeted for June 2026 at the Devarkulam site in Tamil Nadu
The contract is executed by the company's material stepdown subsidiary, Clarion Wind Farm

💡 This is a positive operational update indicating progress in asset repowering. Investors should monitor the project's completion by the June 2026 deadline to ensure execution remains on track.

Orient Green Power 9M FY26 Net Profit Surges 54% to ₹88.13 Cr; Targets 1 GW Capacity

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 18 Feb 2026, 04:52 PM

Orient Green Power reported a robust 9M FY26 with net profit rising 54% YoY to ₹88.13 crores, supported by a 20% decline in finance costs. The company is diversifying its portfolio, having commissioned its first 7 MW solar project and planning another 28 MW by May 2026. A key strategic move is the 6 MW wind repowering project in Tamil Nadu, which is expected to boost specific asset EBITDA from nearly zero to ₹7.5 crores. Management is also targeting a 1 GW total capacity through both organic and inorganic growth.

9M FY26 Net Profit increased 54% YoY to ₹88.13 crores on total income of ₹268.95 crores.
Total debt reduced to ₹507 crores with blended interest cost optimized to 9.15% following a BBB rating upgrade.
Commissioned first 7 MW solar project and contracted 28 MW additional Greenfield capacity for April-May 2026.
Repowering 6 MW wind capacity expected to increase annual EBITDA by ₹36 crores collectively with other new projects.
Management actively exploring inorganic acquisitions to reach a long-term 1 GW capacity goal.

💡 The company's turnaround is evident through debt reduction and strategic repowering of old assets. Investors should monitor the execution of the 28 MW expansion and the roadmap for the 1 GW target as key growth triggers.

Orient Green Power Releases Q3 & 9M FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Feb 2026, 06:11 PM

Orient Green Power Company Limited has made the audio recording of its investor and analyst call available to the public. The call, held on February 16, 2026, discussed the company's unaudited financial results for the quarter and nine months ended December 31, 2025. This filing is a routine compliance requirement under SEBI (LODR) Regulations. The recording provides transparency into management's discussion regarding the company's performance in the renewable energy sector.

Audio recording for the Q3 and 9M FY26 earnings call is now accessible on the company website.
The call was conducted on February 16, 2026, following the financial results disclosure.
Filing complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The recording link is hosted at orientgreenpower.com/files/Q3 & 9M FY26 Investor Audio Recordings.mp3.

💡 Investors should listen to the recording to understand management's perspective on quarterly performance and future growth drivers. No immediate trading action is required based solely on this procedural filing.

Orient Green Power Schedules Q3 & 9M FY26 Earnings Call for February 16, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 10 Feb 2026, 04:39 PM

Orient Green Power Company Limited has scheduled an Investors/Analysts Call to discuss its financial performance for the third quarter and nine-month period ending December 31, 2025. The call is set for Monday, February 16, 2026, at 12:00 Noon. This interaction allows management to provide context on the company's operational efficiency and financial health. Investors typically use these sessions to gauge future growth prospects in the renewable energy sector.

Earnings call scheduled for February 16, 2026, at 12:00 Noon IST
Discussion to focus on financial results for Q3 and 9M FY26
Intimation provided under Regulation 30 of SEBI (LODR) Regulations, 2015
Call details and financial information available on the company's official website

💡 Investors should monitor the post-call transcripts or recordings for management commentary on debt levels and wind power generation trends.

Orient Green Power 9M FY26 PBT Jumps 88% to ₹88.4 Cr; Plans 28 MW Capacity Addition

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 02:04 PM

Orient Green Power reported a strong nine-month performance for FY26, with revenue growing 16% YoY to ₹254.36 crore and PBT surging 88% to ₹88.40 crore. Although the company reported a seasonal consolidated loss of ₹21.43 crore in Q3 FY26, this was a slight improvement over the ₹22.41 crore loss in the previous year's quarter. The company is aggressively expanding, having commissioned a 7 MW solar project and contracted for an additional 28 MW of solar and wind capacity. These new initiatives, including a first-of-its-kind repowering project in Tamil Nadu, are expected to add approximately ₹36 crore to annual EBITDA.

9M FY26 Revenue from operations increased 16% YoY to ₹25,436 lakhs.
9M FY26 Profit Before Tax (PBT) surged 88% YoY to ₹8,840 lakhs.
Commissioned 7 MW solar project and entered EPC contracts for 18 MW solar and 10 MW wind projects.
Undertaking a 6 MW wind repowering project, the first under Tamil Nadu's new repowering policy.
New capacity additions and repowering are projected to contribute ~₹3,600 lakhs in annual EBITDA.

💡 Investors should look past the seasonal Q3 loss and focus on the significant 9-month profit growth and the clear roadmap for capacity expansion. The company's entry into higher-capacity wind turbines and solar expansion suggests improved operational efficiency and revenue visibility ahead.

Orient Green Power 9M FY26 PBT Surges 88% to ₹88.4 Cr; Plans 28 MW Expansion

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 01:55 PM

Orient Green Power reported a strong 9-month performance for FY26, with revenue growing 16% to ₹254.36 crore and PBT jumping 88% to ₹88.4 crore. While the Q3 period saw a seasonal loss of ₹21.43 crore, the company successfully commissioned a 7 MW solar project and secured contracts for an additional 28 MW of capacity. These new projects and a 6 MW repowering initiative are projected to contribute approximately ₹36 crore to annual EBITDA. The company is effectively utilizing its ₹250 crore rights issue proceeds for capacity expansion and debt reduction.

9M FY26 Revenue from operations increased by 16% YoY to ₹25,436 lakhs
9M FY26 Profit Before Tax (PBT) surged 88% YoY to ₹8,840 lakhs
Commissioned 7 MW solar project and signed EPC contracts for 28 MW additional capacity
New capacity and repowering initiatives expected to add ₹3,600 lakhs to annual EBITDA
Consolidated PAT for 9M FY26 rose to ₹8,813 lakhs from ₹5,710 lakhs in the previous year

💡 Investors should focus on the strong 9-month cumulative performance and the aggressive expansion pipeline rather than the seasonal Q3 loss. The company's transition to larger turbines and solar expansion provides a positive long-term outlook for EBITDA growth.

Orient Green Power Subsidiary to Add 9.9 MW Wind Capacity via Rs 85.05 Cr EPC Contract

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 02 Feb 2026, 06:44 PM

Orient Green Power's subsidiary, Gamma Green Power Private Limited, has signed an EPC contract with Renfra Energy India Limited to set up a 9.9 MW wind power project. The project, located in Tiruchirappalli, Tamil Nadu, involves the installation of three 3.3 MW wind turbine generators on a turnkey basis. The total contract value is approximately Rs. 85.05 crores, including GST. This expansion is scheduled for completion by April 30, 2026, which will enhance the company's total renewable energy generation capacity.

Expansion of 9.9 MW capacity through subsidiary Gamma Green Power Private Limited.
EPC contract valued at ~Rs. 85.05 Crores (inclusive of GST) awarded to Renfra Energy.
Installation of 3 Wind Turbine Generators of 3.3 MW each in Tiruchirappalli, Tamil Nadu.
Project execution timeline set for completion on or before April 30, 2026.

💡 Investors should monitor the timely execution of this project by April 2026, as it represents a tangible increase in the company's revenue-generating assets.

Orient Green Power Subsidiary Signs Rs 32.87 Cr Contract with Suzlon for 6.3 MW Wind Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 29 Jan 2026, 09:14 AM

Orient Green Power's material stepdown subsidiary, Clarion Wind Farm Private Limited, has entered into a contract with Suzlon Energy Limited for the supply of 6.3 MW wind energy generators. The project involves repowering an existing wind farm at the Devarkulam site in Tamil Nadu using three units of 2.1 MW each. The total contract value is approximately Rs. 32.87 Crores, including GST. This modernization effort is expected to be completed by June 30, 2026, potentially improving the efficiency and output of the company's existing assets.

Contract signed with Suzlon Energy for 3 Wind Energy Generators of 2.1 MW each, totaling 6.3 MW
Project focuses on repowering the existing wind farm at Devarkulam, Tamil Nadu
Total contract consideration is approximately Rs. 32.87 Crores inclusive of GST
Execution timeline for the contract is set for completion by June 30, 2026
The agreement was approved by the subsidiary's Investment/Borrowing/Banking Committee on January 28, 2026

💡 Investors should view this as a positive step toward asset modernization which could enhance long-term generation efficiency. Monitor the timely execution of the project by the June 2026 deadline.

Orient Green Power Files Routine SEBI Reg 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jan 2026, 01:21 PM

Orient Green Power Company Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended December 31, 2025. The certificate, issued by Registrar Cameo Corporate Services Limited, confirms that all dematerialization requests were processed and physical certificates were mutilated as per regulations. This is a standard procedural filing required by all listed entities to maintain regulatory hygiene. There are no financial implications or strategic changes associated with this announcement.

Compliance certificate submitted for the quarter ended December 31, 2025.
Registrar Cameo Corporate Services Limited confirmed processing of demat requests within stipulated timelines.
Verification that security certificates were mutilated and cancelled after due verification by the depository participant.
Confirmation that the name of depositories has been substituted in the register of members as the registered owner.

💡 No action is required from investors as this is a routine regulatory filing. Investors should continue to monitor the company's upcoming quarterly earnings for fundamental performance updates.

Orient Green Power to Close Trading Window from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Dec 2025, 05:20 PM

Orient Green Power Company Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This move is a standard compliance requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015. The closure is in anticipation of the upcoming un-audited standalone and consolidated financial results for the quarter and nine months ending December 31, 2025. The trading window will remain closed until 48 hours after the financial results are officially published.

Trading window closure effective from January 1, 2026, for designated persons.
Closure pertains to the financial results for the quarter and nine months ended December 31, 2025.
Window to reopen 48 hours after the announcement of un-audited financial results.
The specific date for the Board Meeting to consider results will be announced separately.

💡 This is a routine regulatory announcement with no impact on company fundamentals; investors should await the actual earnings release for performance cues.

Orient Green Power Subsidiary Signs Rs 99.42 Cr EPC Contract for 17.60 MW Solar Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 29 Dec 2025, 09:26 PM

Orient Green Power's subsidiary, Delta Renewable Energy Private Limited, has executed an EPC contract with Remon Solutions for a new solar power project in Tamil Nadu. The project will have an aggregate installed capacity of 17.60 MW AC (24.64 MW DC) located in the Thiruvannamalai District. The total consideration for the contract is approximately Rs. 99.42 Crores, including GST. This project is expected to be completed by May 31, 2026, contributing to the company's renewable energy portfolio expansion.

Subsidiary Delta Renewable Energy signs EPC contract for 17.60 MW AC solar project
Total contract value is approximately Rs. 99.42 Crores inclusive of GST
Project completion deadline is set for May 31, 2026
Contract awarded to Remon Solutions Private Limited for sites in Vandavasi and Chetpet Taluks
The transaction is not a related party transaction and is conducted at arm's length

💡 Investors should view this as a positive growth step that increases the company's asset base and future revenue potential. Monitor the execution progress toward the May 2026 deadline for timely capacity addition.

GREENPOWER Commissions 7 MW AC Solar Project via Delta, Expands Beyond Wind

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 08 Dec 2025, 11:34 AM

Orient Green Power Company Limited (OGPCL) has commissioned its first solar power project through its subsidiary, Delta Renewable Energy Private Limited. The project is a 7 MW AC Solar Power Project at Krishnasamudhram Village, Tamil Nadu. This marks OGPCL's entry into the solar energy sector, complementing its wind power business. The power generated will be supplied to the captive shareholders of DELTA under the Group Captive Model. Delta is in the process of finalizing land for the remaining 18 MW AC Solar Power Project.

OGPCL commissions a 7 MW AC Solar Power Project through Delta Renewable Energy Private Limited.
The project received its service connection on December 5, 2025.
The project was commissioned on December 6, 2025.
Delta is finalizing land for the remaining 18 MW AC Solar Power Project.

💡 This expansion into solar power is a positive sign for OGPCL's diversification and long-term growth; investors should monitor the progress of the remaining 18 MW project.

GREENPOWER enters solar energy with 7 MW AC project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 05 Dec 2025, 01:26 PM

Orient Green Power Company's subsidiary, Delta Renewable Energy Private Limited, has entered the solar energy sector. They've successfully installed a 7 MW AC Solar Power Project in Tamil Nadu. This marks the company's first solar power project, complementing their existing wind power portfolio. The project will operate under the Group Captive Model, supplying power to captive shareholders of DELTA.

Delta Renewable Energy Private Limited developed a 7 MW AC Solar Power Project
Project located at Krishnasamudhram Village, Tiruvallur District, Tamil Nadu
Commissioning expected to be completed by December 05, 2025
Project to be operated under the Group Captive Model

💡 This expansion into solar energy diversifies Orient Green Power's portfolio; investors should monitor the performance of this new project and its contribution to overall revenue.

Orient Green Power Subsidiary Credit Rating Upgraded to IVR BBB; Debt Reduced by ₹79.58 Crore

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 01 Dec 2025, 09:09 AM

Infomerics has upgraded the credit rating of Orient Green Power's material subsidiary, Beta Wind Farm, from IVR BBB- to IVR BBB/Stable. This subsidiary represents 97% of the company's consolidated debt, making the upgrade highly significant for the group's financial health. The upgrade is accompanied by a reduction in rated debt from ₹598.53 crore to ₹518.95 crore and triggers a 25 basis points interest rate reduction from IREDA. This lower interest cost is expected to directly enhance the company's consolidated net profit.

Credit rating for Beta Wind Farm upgraded to IVR BBB/Stable, reflecting improved financial risk profile.
Total rated debt reduced by ₹79.58 crore, falling from ₹598.53 crore to ₹518.95 crore.
Upgrade triggers a 25 bps interest rate reduction from IREDA as per existing loan covenants.
Beta Wind Farm accounts for 97% of the group's consolidated debt and operates 241.6 MW of wind capacity.
Improved PLF and machine availability in Andhra Pradesh cited as key drivers for the upgrade.

💡 Investors should take note of the improving credit profile and deleveraging efforts which will reduce interest expenses and boost the bottom line. The stock may see positive momentum as the company strengthens its capital structure and operational efficiency.

View All GREENPOWER Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Generation revenue for Q3 and Q4 FY26 is expected to be similar to the previous year, plus or minus a few percent. Wind generation typically contributes 70% of annual revenue in Q1 and Q2, with the remaining 25-30% in Q3 and Q4.

Geographic Revenue Split

Operations are concentrated in South India, specifically Tamil Nadu and Andhra Pradesh, where the company's 402.3 MW wind portfolio is located. International subsidiaries in the Netherlands, Macedonia, and Croatia suggest a minor geographic split in asset holding.

Profitability Margins

Net profit margins have improved significantly due to a 20% reduction in finance costs. Standalone profit from continuing operations reached INR 8.46 Cr in FY25, compared to a loss of INR 5.69 Cr in FY24, marking a turnaround in core profitability.

EBITDA Margin

EBITDA remains stable as operating costs are fixed; however, net margins are expanding as interest costs decline. 60% of the recent profitability improvement is attributed to better wind conditions and 40% to operational efficiency gains.

Capital Expenditure

The company is investing INR 25 Cr to INR 30 Cr of internal generation into new capacity. This includes a 7 MW solar project due by December 2025 and an 18 MW solar project scheduled for completion by June 2026.

Credit Rating & Borrowing

Beta Wind Farm's rating was upgraded to IVR BBB/Stable, triggering a 25 basis point (0.25%) reduction in interest rates from IREDA. Total consolidated debt stands at approximately INR 525 Cr.

⚙️ Operational Drivers

Raw Materials

Natural wind and solar energy are the primary 'raw materials,' representing 0% of direct material cost. Operational costs are primarily fixed O&M (Operations and Maintenance) expenses.

Import Sources

Wind and solar resources are sourced locally at plant sites in Tamil Nadu and Andhra Pradesh, India.

Key Suppliers

Equipment and maintenance services are provided by specialized renewable energy vendors; component upgradation in Andhra Pradesh has specifically improved machine availability.

Capacity Expansion

Current wind capacity is 382 MW. Expansion includes 25 MW of solar power (7 MW by Dec 2025 and 18 MW by June 2026) to create a hybrid wind-solar portfolio.

Raw Material Costs

Direct raw material costs are negligible; however, operational efficiency improved PLF from 24.5% to 28% in Q2 FY26, a 14.3% increase in output efficiency.

Manufacturing Efficiency

Plant Load Factor (PLF) for the major asset (Beta) improved to 28% in Q2 FY26 from 24.5% YoY, driven by component upgrades and better wind availability.

Logistics & Distribution

Power is distributed through state-owned grids under long-term Power Purchase Agreements (PPAs) and to C&I customers.

📈 Strategic Growth

Expected Growth Rate

14%

Growth Strategy

Growth will be achieved through a 25 MW solar expansion (6.5% capacity increase), brownfield acquisitions of PPA-based projects, and a 20% reduction in finance costs through deleveraging and credit rating upgrades.

Products & Services

Wind power, Solar power, and Renewable Energy Certificates (RECs).

Brand Portfolio

Orient Green Power, Beta Wind Farm, Bharath Wind Farm, Gamma Green Power.

New Products/Services

Solar power generation (25 MW) and hybrid wind-solar supply portfolios for C&I customers, expected to contribute to revenue starting Q3 FY26.

Market Expansion

Expansion into the Commercial & Industrial (C&I) space and PPA-based project acquisitions to diversify away from state utility dependency.

Market Share & Ranking

One of the leading renewable power generating companies in South India with a 17-year track record.

Strategic Alliances

Partnership with IREDA for long-term project financing and state utilities for long-term PPAs.

🌍 External Factors

Industry Trends

The industry is shifting toward hybrid wind-solar models to provide balanced 24/7 power; the company is positioning itself by adding 25 MW of solar to its 382 MW wind base.

Competitive Landscape

Intense competition from larger renewable players and exposure to regulatory changes in tariff structures and wind policies.

Competitive Moat

Moat is built on a 17-year operational track record and established grid connectivity in high-wind states; sustainability is supported by long-term PPAs and GBI incentives for 75.6 MW.

Macro Economic Sensitivity

Highly sensitive to interest rates; a 25 bps reduction on INR 525 Cr debt significantly impacts consolidated net profit.

Consumer Behavior

C&I customers are increasingly demanding hybrid (wind + solar) portfolios to meet green energy targets and ensure stable supply.

Geopolitical Risks

Minimal, as operations are primarily domestic, though international subsidiaries face local regulatory risks in Croatia and Macedonia.

⚖️ Regulatory & Governance

Industry Regulations

Subject to state wind policies and GBI (Generation Based Incentive) schemes which provide 50 paise per unit for 75.6 MW of assets.

Environmental Compliance

Fully compliant with renewable energy standards; 133.3 MW of assets are registered under the REC mechanism.

Taxation Policy Impact

The company is currently exempt from Corporate Social Responsibility (CSR) expenditure due to the adjustment of losses from earlier years.

Legal Contingencies

The company reported a loss of INR 30 Cr from discontinued operations in FY25; standalone financial statements reflect ongoing compliance with Sections 185 and 186 of the Companies Act.

⚠️ Risk Analysis

Key Uncertainties

Inherent wind variability (60% impact on profit variance) and regulatory changes in tariff structures pose the highest risks to sustained profitability.

Geographic Concentration Risk

High concentration in South India (Tamil Nadu and Andhra Pradesh), making the company vulnerable to regional wind patterns and state-specific policy shifts.