Order Win
Rajesh Power Services Secures ₹211.68 Crore EPC Transmission Project from OPTCL
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BSE
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Rajesh Power Services Limited has secured a major EPC transmission infrastructure contract worth ₹211.68 crore (including taxes) from Odisha Power Transmission Corporation Limited (OPTCL). The project involves the design, engineering, supply, installation, testing, and commissioning of a 220kV underground transmission cable system and associated substation bay extensions in Odisha, with execution scheduled over 24 months.
PRICE-SENSITIVE TRIGGER
Event: Award of Transmission Infrastructure EPC Contract by OPTCL
Type: Order Win
Impact: Positive
Immediate Effect: The order significantly strengthens Rajesh Power Services’ order book, expands its geographic presence into Odisha, and enhances long-term revenue visibility from the transmission infrastructure segment.
Key Metrics:
- Order Value: ₹211.68 Crore (Including Taxes)
- Contract Type: Turnkey EPC Contract
- Execution Period: 24 Months
- Customer: Odisha Power Transmission Corporation Limited (OPTCL)
- Project Category: Transmission Infrastructure
- Geography: Domestic (India)
Highlight:
- Order Size: ₹211.68 Crore (Including Taxes)
What Happened ?
Rajesh Power Services Limited announced the receipt of a turnkey EPC transmission project from Odisha Power Transmission Corporation Limited (OPTCL).
The contract covers design, engineering, supply, installation, testing, and commissioning works for a 220kV single-circuit underground cable transmission line connecting 400/220/132/33kV GSS Mendhasal and 220/132/33kV GIS GSS Chandaka-B. The scope also includes one 220kV AIS bay extension at GSS Mendhasal and one 220kV GIS bay extension at Chandaka-B.
Management stated that the award marks the company’s entry into Odisha and represents one of the largest contracts secured in its transmission business segment.
Key Details
Project Scope and Strategic Importance:
- Awarding entity is Odisha Power Transmission Corporation Limited (OPTCL).
- Contract awarded on a turnkey EPC basis.
- Scope includes complete design, engineering, supply, installation, testing, and commissioning.
- Project involves construction of a 220kV underground transmission cable network.
- Includes 220kV AIS bay extension at GSS Mendhasal.
- Includes 220kV GIS bay extension at Chandaka-B.
- Project execution period is 24 months.
- Represents Rajesh Power Services’ entry into the Odisha market.
- Strengthens the company’s footprint in eastern India.
- Considered among the largest transmission orders secured by the company.
Note:
- The project enhances Rajesh Power Services’ positioning in the power transmission EPC segment while expanding its execution capabilities across new state utility networks. The order also provides a meaningful addition to the company’s long-term project pipeline.
Risk Analysis
Summary:
- Although the project provides strong revenue visibility and strategic market expansion, execution of large-scale transmission infrastructure projects remains subject to operational, regulatory, and cost-related risks.
Key Risks:
- Delays in regulatory approvals may affect project milestones.
- Underground cable projects involve complex site execution and coordination requirements.
- Raw material price fluctuations could impact project profitability.
- Supply chain disruptions may affect equipment availability and project schedules.
- Revenue recognition will depend on timely achievement of execution milestones.
Worst Case Scenario:
- Extended project delays, cost overruns, or execution challenges could postpone revenue realization and compress project margins.
Risk Level: Medium
Company Commentary
- The company stated that the contract marks its entry into the state of Odisha.
- Management described the project as one of the largest orders secured in the transmission segment.
- The award demonstrates confidence from a leading state transmission utility in the company’s EPC execution capabilities.
- The order strengthens the company’s order book and long-term growth pipeline.
- Rajesh Power Services confirmed that neither promoters nor promoter group entities have any interest in the awarding authority.
- The company also confirmed that the contract does not fall under related-party transactions.
Official Exchange Filing: Rajesh Power Services Limited
