Dharan Infra-EPC Limited, known for its expertise in infrastructure and EPC projects, has made a big splash. The company’s subsidiary has secured a ₹215 crore solar power project in Maharashtra. After the announcement, the stock hit the upper circuit with a 5% jump. Could this order be the turning point that changes the company’s fortunes?
Stock Jumps 5%
Dharan Infra-EPC’s stock rose from ₹0.44 to ₹0.46, reflecting a 5% gain.
The company’s market cap currently stands at ₹240.52 crore, making this new project almost equal to its entire market value.
Over the past year, the stock has delivered 2.22% returns, but this new development has sparked fresh optimism among investors.
₹215 Crore Mega Solar Project
The company’s subsidiary, Dharan Infra Solar Pvt. Ltd., has signed an agreement with Skymax Infropower Ltd.
Under this contract, the company will develop a grid-interactive, ground-mounted solar power plant across 9 sites in Nanded district, Maharashtra.
Project capacity:
- 75 MW (AC)
- 95.10 MWp (DC)
Total project value: ₹215 crore
Project Scope and Timeline
Under this project, Dharan Infra will handle:
- Design
- Engineering
- Procurement
- Supply
- Installation
- Testing
- Commissioning
This is considered a material contract, meaning it will significantly impact the company’s operational and financial performance.
The project will be executed in phases and is expected to be fully commissioned by FY 2025–26 or 2026–27.
Signs of Improvement in Quarterly Results
Looking at the company’s quarterly performance:
- Q4 FY25 Revenue: ₹1.37 crore
- Up 25.7% from Q3 FY25 (₹1.09 crore)
- Down 89% from Q4 FY24 (₹12.55 crore)
Net loss also improved:
- Q3 FY25 Loss: ₹20.77 crore
- Q4 FY25 Loss: ₹2.19 crore
However, the last three years show weak historical performance:
- Sales CAGR: -44%
- ROE CAGR: -4%
This indicates the company still needs sustainable long-term growth.
Company Background
Founded in 2007, Dharan Infra-EPC Limited is a Nashik-based infrastructure company involved in:
- Real estate development
- Civil construction
- EPC projects
The company is also expanding into international markets and has recently entered the renewable energy sector.
Could This Project Be a Gamechanger?
This ₹215 crore solar project could be a significant turning point for the company.
If executed on time, Dharan Infra could gain not just revenue visibility but also regain investor confidence.
The real question now is — Will this solar project put Dharan Infra on the path to long-term stable growth, or is it just a short-term spark?
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