Rajesh Power Services gains on securing Rs 183 crore order from MGVCL

Rajesh Power Services rose 1.72% to Rs 1,462.50 after the company announced that it has secured a Rs 182.62 crore turnkey contract from Madhya Gujarat Vij Company (MGVCL).

The contract involves the conversion of the existing 11kV HT network to underground cable/MVCC under the SI scheme in the jurisdictions of Mehmedabad, Anand, Petlad, and Nadiad.

As per the company?s statement, the order is to be executed within 12 months.

The company also clarified that neither its promoters nor promoter group entities have any interest in the awarding authority and the transaction does not qualify as a related party transaction under applicable regulations.

Rajesh Power Services provides consultancy to state transmission and distribution companies, private utilities, and industries.

On a full-year basis, the company?s net profit surged 285.5% to Rs 26.02 crore on a 37.5% jump in net sales to Rs 284.97 crore in FY25 over FY24.

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