Rs 3,502 crore order book: Battery Energy Storage System company bags order from Gujarat Urja Vikas Nigam Ltd (GUVNL)

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Rs 3,502 crore order book: Battery Energy Storage System company bags order from Gujarat Urja Vikas Nigam Ltd (GUVNL)

The stock is up by 46 per cent from its 52-week low of Rs 740 per share.

Rajesh Power Services Limited (RPSL) has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of a 65 MW / 130 MWh Standalone Battery Energy Storage System (BESS). Located at Virpore in Gujarat, this project was awarded through a tariff-based competitive bidding process (Phase VII). The initiative is supported by Viability Gap Funding (VGF) via the Power System Development Fund (PSDF), highlighting RPSL's growing expertise in advanced renewable energy infrastructure and grid stability solutions.

The project, which is part of a larger state-wide 2000 MW / 4000 MWh BESS rollout, is scheduled for completion within 18 months from the signing of the Battery Energy Storage Purchase Agreement (BESPA). This contract represents a significant milestone for RPSL as an EPC contractor in the Power Transmission & Distribution sector, allowing it to tap into the increasing demand for energy storage in India's green energy transition. The execution remains subject to standard regulatory approvals and the formal finalisation of the BESPA.

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About Rajesh Power Services Limited (RPSL)

RPSL is a premier Engineering, Procurement & Construction (EPC) firm specialising in the Power Transmission & Distribution Sector in India, offering comprehensive turnkey services for projects like GIS and AIS Substations, Extra High Voltage Power Cables, Transmission Lines, and Distribution Systems construction. With over five decades in its core business area, RPSL maintains its leading position by delivering top-class quality and focusing on its customer base of government and institutional clients nationwide.

The company has a market cap of over Rs 1,900 crore and as of September 30, 2025, the Order Book stands at Rs 3,502 crore. The shares of the company have a PE of 16x, an ROE of 51 per cent and an ROCE of 55 per cent. The stock is up by 46 per cent from its 52-week low of Rs 740 per share.

Disclaimer: The article is for informational purposes only and not investment advice.