Orient Green Power Company Ltd (GREENPOWER) AI Stock Analysis

• Market Cap: ₹11.19B
• Dividend Yield: N/A
• Average Volume (3M): 414.13K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.04
• Revenue Growth: 14.32%
• EPS Growth: 105.15%
• Country: IN
• Employees: 129
• Sector: Energy
• Sector Strength: 52
• Industry: Independent Power Producers
• EPS (TTM): -0.20
• Shares Outstanding: 1,173,031,600
• 10 Day Avg. Volume: 242,299
• 30 Day Avg. Volume: 414,128
• PEG Ratio: -2.81
• Price to Book (P/B): 1.34
• Price to Sales (P/S): 5.46
• P/FCF Ratio: 9.06
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹9.50 ▼(-20.17% Downside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is primarily supported by solid profitability and strong operating cash flow generation, alongside improving balance-sheet stability. This is tempered by weak technicals (price below key moving averages with negative MACD) and only a moderate valuation signal (P/E ~15.6) with no dividend yield data to add support.

Positive Factors

High gross and operating margins

Sustained ~80% gross margin and solid EBIT/EBITDA margins indicate durable cost control and operating leverage in its wind-generation business. High margins support reinvestment in assets, buffer tariff variability, and underpin multi-quarter cash generation even if revenue growth fluctuates.

Robust operating cash flow

Operating cash flow materially above net income shows the business converts earnings to cash reliably, reflecting steady generation receipts under power contracts. Strong cash conversion supports capex funding, debt servicing and operational stability over the medium term.

Improving balance-sheet stability

A falling debt-to-equity ratio and a stronger equity ratio point to reduced leverage and greater financial flexibility. Lower debt burden eases refinancing risk, reduces interest expense pressure, and improves the firm's ability to pursue asset additions or survive policy/regulatory cycles.

Negative Factors

Revenue volatility and recent decline

Inconsistent revenue, including a recent decline, suggests fluctuating generation volumes, tariff timing, or contract exposures. Persistent top-line variability can limit predictable cash flows, complicate planning for maintenance capex and reduce visibility for multi-quarter earnings stability.

Modest return on equity

An ROE near 3.6% implies limited profitability relative to shareholders' capital. Over the medium term this can constrain shareholder returns and indicates that asset reinvestment or operational efficiency improvements are needed to lift equity returns above peers in the independent power space.

Recent decline in free cash flow

A recent drop in free cash flow reduces the firm's ability to fund growth, repay debt, or withstand cyclical dips. If the decline persists, it may force higher leverage or deferred maintenance, weakening long-term operational resilience and capacity expansion plans.

Orient Green Power Company Ltd Business Overview & Revenue Model

Company Description

Orient Green Power Company Limited, an independent renewable energy power producing company, develops, owns, and operates a portfolio of wind renewable projects in India and internationally. The company has a portfolio of 425 MW of wind energy across Tamil Nadu, Andhra Pradesh, Gujarat, and Karnataka, as well as 10.5 MW wind power plant in Croatia. Orient Green Power Company Limited was incorporated in 2006 and is headquartered in Chennai, India.

How the Company Makes Money

Orient Green Power Company Ltd generates revenue through the sale of electricity produced by its renewable energy plants, primarily wind and solar. The company enters into Power Purchase Agreements (PPAs) with state utilities and private entities, ensuring a steady income stream from long-term contracts. Additionally, GREENPOWER benefits from government incentives and subsidies aimed at promoting renewable energy adoption. The company may also engage in the sale of Renewable Energy Certificates (RECs), providing an additional revenue channel. Strategic partnerships with other energy firms and stakeholders in the renewable sector further enhance its market presence and profitability.

Orient Green Power Company Ltd Financial Statement Overview

Summary

Solid operating profitability and cash generation: strong gross margin (~80%) and healthy EBIT/EBITDA margins, with operating cash flow substantially above net income and a strong FCF-to-net income relationship. Offsetting factors are inconsistent revenue growth with a recent decline, modest ROE (~3.6%), and a recent drop in free cash flow that warrants monitoring.

Income Statement

The company's revenue has exhibited fluctuations over the years, with a decline in the latest period. Gross Profit Margin remains strong at around 80%, indicating effective cost management, but the Net Profit Margin is relatively lower at approximately 14.7%, showing room for improvement. EBIT and EBITDA margins are solid, reflecting good operational performance, although revenue growth has shown some inconsistencies.

Balance Sheet

The Debt-to-Equity ratio has improved, suggesting better financial stability, with a reduction in total debt over the years. The Return on Equity (ROE) is modest at 3.6%, indicating average profitability for equity holders. The Equity Ratio has strengthened, showing a healthier balance sheet with a higher proportion of equity financing.

Cash Flow

Operating Cash Flow remains robust, substantially surpassing Net Income, which is a positive indicator of cash-generating capability. The Free Cash Flow to Net Income Ratio is strong, demonstrating effective cash management. However, there has been a decline in Free Cash Flow recently, which needs monitoring.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	2.94B	2.63B	2.59B	2.58B	3.11B	2.55B
Gross Profit	2.40B	2.10B	2.20B	1.11B	2.59B	2.04B
EBITDA	2.23B	1.92B	2.01B	2.25B	2.56B	1.79B
Net Income	697.70M	388.10M	365.30M	338.10M	349.80M	-575.50M
Balance Sheet
Total Assets	17.21B	16.62B	16.18B	16.92B	18.31B	18.95B
Cash, Cash Equivalents and Short-Term Investments	1.93B	1.85B	728.00M	122.70M	129.20M	181.40M
Total Debt	4.90B	5.52B	7.54B	10.91B	12.38B	13.50B
Total Liabilities	5.33B	5.90B	8.36B	11.77B	13.51B	14.48B
Stockholders Equity	11.91B	10.75B	7.88B	5.24B	4.89B	4.56B
Cash Flow
Free Cash Flow	542.70M	1.59B	2.32B	2.18B	2.18B	1.87B
Operating Cash Flow	826.40M	1.69B	2.50B	2.29B	2.20B	1.87B
Investing Cash Flow	-226.50M	-1.53B	-17.00M	30.70M	220.00M	611.90M
Financing Cash Flow	-753.90M	-555.60M	-1.89B	-2.29B	-2.46B	-2.43B

Orient Green Power Company Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GREENPOWER, the sentiment is Negative. The current price of 11.9 is above the 20-day moving average (MA) of 9.65, above the 50-day MA of 10.24, and below the 200-day MA of 12.70, indicating a bearish trend. The MACD of -0.27 indicates Negative momentum. The RSI at 39.31 is Neutral, neither overbought nor oversold. The STOCH value of 49.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GREENPOWER.

Orient Green Power Company Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TDPOWERSYS	70 Outperform	₹130.59B	48.62	―	0.23%	40.14%	53.51%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
WEBELSOLAR	64 Neutral	₹26.24B	14.56	―	―	152.12%	―
GREENPOWER	61 Neutral	₹11.19B	-14.80	―	―	14.32%	105.15%
SWELECTES	58 Neutral	₹8.27B	25.40	―	0.47%	39.01%	-42.51%
INOXGREEN	55 Neutral	₹58.14B	79.81	―	―	24.33%	66.14%
SWSOLAR	43 Neutral	₹40.94B	-446.21	―	―	112.24%	-474.43%

Orient Green Power Company Ltd Corporate Events

Orient Green Power Ventures into Solar Energy with New Project

Orient Green Power Company Limited (OGPCL) has commissioned its first solar power project through its subsidiary, Delta Renewable Energy Private Limited, marking a strategic expansion beyond its traditional wind energy focus. The 7 MW AC solar project in Tamil Nadu is part of a larger 25 MW initiative funded through a Rights Issue, reflecting OGPCL’s commitment to diversifying its renewable energy portfolio. This development is expected to enhance the company’s ability to meet growing energy demands, support customer base expansion, and bolster long-term revenue stability. By operating under the Group Captive Model, the project positions OGPCL competitively in India’s clean-energy landscape and aligns with national renewable energy goals.