Order Win
Rajesh Power Services Bags ₹34.37 Crore Orders from PGVCL and RVPNL
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BSE
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- Rajesh Power Services Limited has secured two domestic power infrastructure contracts worth ₹34.37 crore (including taxes) from Paschim Gujarat Vij Company Limited (PGVCL) and Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL).
- The contracts include SCADA readiness and rectification of Ring Main Units (RMUs) under a comprehensive maintenance contract, along with modification of an existing 220 kV transmission line into an underground cable system at Jodhpur.
PRICE-SENSITIVE TRIGGER
Event: Receipt of two domestic orders from PGVCL and RVPNL.
Type: Order Win
Impact: Positive
Immediate Effect: The new contracts strengthen Rajesh Power Services’ order book, improve near-term revenue visibility, and reinforce its execution capabilities across utility maintenance and transmission infrastructure projects.
financials:
Key Metrics:
- Total Order Value: ₹34.37 crore (including taxes)
- PGVCL Order: ₹21.57 crore (including taxes)
- RVPNL Order: ₹12.80 crore (including taxes)
Segment Performance:
- Utility Maintenance Contracts: ₹21.57 crore
- Transmission Infrastructure (Turnkey): ₹12.80 crore
Highlight:
- Rajesh Power Services secured two domestic power sector contracts with a combined value of ₹34.37 crore, covering maintenance and transmission infrastructure works.
What Happened ?
Rajesh Power Services informed the stock exchange that it has received two orders in the normal course of business.
The first order has been awarded by Paschim Gujarat Vij Company Limited (PGVCL) for SCADA readiness and rectification of Ring Main Units (RMUs) under a Comprehensive Cover Warranty Maintenance Contract (CMC) across the Bhavnagar, Jamnagar and Rajkot circles.
The second order has been awarded by Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL) for converting the existing 220 kV double-circuit Jodhpur–CHB transmission line into a 220 kV underground cable system, including installation of a monopole at Jodhpur.
key details
PGVCL Order:
- Awarding Authority: Paschim Gujarat Vij Company Limited (PGVCL)
- Nature of Contract: SCADA readiness and rectification of Ring Main Units (RMUs) with Comprehensive Cover Warranty Maintenance Contract (CMC).
- Project Coverage: Bhavnagar Circle, Jamnagar Circle and Rajkot Circle.
- Contract Type: Maintenance Contract.
- Execution Period: 12 months.
- Order Value: ₹21.57 crore (including taxes).
Note:
- The project focuses on strengthening distribution automation and improving operational reliability of the utility network through SCADA-enabled RMU maintenance.
RVPNL Order:
- Awarding Authority: Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL).
- Nature of Contract: Modification of the existing 220 kV D/C Jodhpur–CHB transmission line into an underground cable system including monopole installation.
- Contract Type: Turnkey Contract.
- Execution Period: 9 months.
- Order Value: ₹12.80 crore (including taxes).
Note:
- The project supports transmission infrastructure modernization by replacing overhead transmission infrastructure with an underground cable system.
Capacity Expansion Update:
- Total combined order value: ₹34.37 crore (including taxes).
- Both contracts have been awarded by domestic government power utilities.
- Neither awarding entity has promoter or related-party connections with Rajesh Power Services.
- Both contracts are ordinary business transactions executed on an arm’s length basis.
Note:
- The orders diversify the company’s execution portfolio across both utility maintenance services and transmission infrastructure projects.
Risk Analysis
Summary:
- The contracts enhance revenue visibility; however, successful execution within the stipulated timelines remains important for timely revenue recognition.
Key Risks:
- Delays in project execution could postpone revenue recognition.
- Utility project schedules may change due to operational approvals.
- Execution quality will be critical for future order opportunities.
- Infrastructure projects remain exposed to logistical and site-related challenges.
Worst Case:
- Project delays or execution challenges could defer revenue realization and impact working capital during the execution period.
Risk Level: Low
Company Commentary
- The company has received orders aggregating ₹34.37 crore (including taxes).
- Both contracts have been received in the normal course of business.
- The contracts have been awarded by domestic government utilities.
- The promoter, promoter group and related parties have no interest in the awarding entities.
- The contracts are not related-party transactions and have been executed on an arm’s length basis.
Official Exchange Filing: Rajesh Power Services Limited
