Whalesbook
RPSL Secures Key Gujarat Battery Storage Project
Rajesh Power Services Limited (RPSL) has secured a significant Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 65 MW / 130 MWh Standalone Battery Energy Storage System (BESS). The project, designated for Virpore in Gujarat, was awarded through a tariff-based competitive bidding process.
Grid Stability Solutions
This initiative falls under a larger state-wide rollout aiming for 2000 MW / 4000 MWh BESS capacity. RPSL's expertise in advanced renewable energy infrastructure and grid stability is highlighted by its selection for this critical project, which is supported by Viability Gap Funding (VGF) from the Power System Development Fund (PSDF).
Order Book Strength
The contract represents a major milestone for RPSL as an Engineering, Procurement, and Construction (EPC) contractor within the Power Transmission & Distribution sector. It allows the company to capitalize on the burgeoning demand for energy storage solutions essential for India's green energy transition. The project is expected to be completed within 18 months from the signing of the Battery Energy Storage Purchase Agreement (BESPA), pending standard regulatory approvals.
Financial Performance
RPSL boasts a substantial order book totaling Rs 3,502 crore as of September 30, 2025. With a market capitalization exceeding Rs 1,900 crore, the company exhibits strong financial health, evidenced by a Price-to-Earnings (PE) ratio of 16x, a Return on Equity (ROE) of 51%, and a Return on Capital Employed (ROCE) of 55%. These figures, combined with its stock trading 46% above its 52-week low of Rs 740, reflect investor confidence.