Reliance Power, owned by Reliance Anil Dhirubhai Ambani Group announced that Reliance Power and its subsidiary, Reliance NU BESS Limited (previously Maharashtra Energy Generation Limited), are allowed to take part in all SECI-issued tenders.
On December 4, 2024, Reliance Power’s share price (NSE: RPOWER) hit the upper circuit limit of 5%, reaching ₹41.09 in early trade. By 9:50 AM on the NSE, the share traded up 4.98% at ₹41.09, up from the previous close of ₹39.14.
On November 6, SECI debarred Reliance Power Limited and Reliance NU BESS Limited from participating in all future tenders issued by SECI. The debarment, effective for three years, followed allegations of submitting fake documents.
Reliance Power reported a consolidated net profit of ₹2,878.15 crore for Q2 FY25, marking a sharp turnaround from a net loss of ₹237.76 crore in the same quarter last year.
Reliance Power’s Q2FY25 EBITDA came in at ₹376 crore. Notably, the company noted that it now has zero debt.
It highlighted a significant improvement in its debt-to-equity ratio, which dropped from 1.61:1 in FY24 to 1.02:1 during July-September 2024. This indicates improved financial stability, making its debt-to-equity ratio one of the lowest in the industry.
Reliance Power, a part of the Reliance Anil Dhirubhai Ambani Group (ADAG), is one of India’s leading private power generation companies. It is involved in a broad spectrum of energy projects across coal, gas, hydro, and renewable energy sectors. The company is known for its substantial portfolio, with an operational capacity of around 5,300 megawatts of power generation capacity.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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