Global Economy 12
Overview
Global economic momentum is holding steady, with growth projected at 3.0% in 2025 and 3.1% in 2026. These figures mark a slight improvement over previous forecasts, reflecting stronger-than-expected activity accelerated in advance of anticipated tariffs, easing financial conditions due to a weaker US dollar, and fiscal expansion in several major economies. Additionally, lower average effective US tariff rates than initially announced, have helped moderate near-term uncertainty. Global headline inflation is expected to decline to 4.2% in 2025 and 3.6% in 2026, in line with prior projections. However, inflation trends are not uniform across countries, remaining elevated in the United States while being more subdued in other large economies.
Despite these positive signals, the global landscape remains fraught with challenges. Tariff-related uncertainty, geopolitical tensions, supply chain disruptions, and growing fiscal deficits pose significant downside risks. Tightening financial conditions, especially if long-term interest rates rise further, could dampen investment and market confidence. Meanwhile, economic fragmentation continues to threaten stability and integration in global markets.
Outlook
The global economy is entering a period of heightened uncertainty. Rising trade barriers, geopolitical tensions, and policy unpredictability are dampening sentiment, straining supply chains, and weakening recovery momentum. A modest rebound is expected in 202627, though output is likely to remain below earlier projections. Emerging and developing economies may continue to face challenges in reducing poverty and closing income gaps. While downside risks persist· ranging from financial stress and extreme weather to worsening conflicts·there are upside possibilities if durable trade agreements and stronger multilateral coordination emerge. A coherent policy response focused on rebuilding fiscal buffers, maintaining financial stability, and advancing institutional and structural reforms is essential.
Indian Economy 3 4 5
Overview
India continues to consolidate its position as one of the worlds fastest-growing major economies, climbing to the fourth-largest globally by end-2025. The economy posted a robust 7.4% expansion in the final quarter of FY25 and 6.5% growth for the full fiscal year, underscoring the strength of domestic demand, steady investments, and a recovery in rural consumption, even amid global headwinds. Looking ahead, the IMF projects growth at 6.4% in both FY25 and FY26 (6.7% on a calendar-year basis for 2025 and 6.4% for 2026).
This sustained performance is driven by a combination of factors, including robust private consumption, a continued emphasis on public investment, and a strong reform momentum across sectors. Structural reforms aimed at improving infrastructure, digital inclusion, and financial access have helped reinforce investor confidence and domestic demand. The IMF has acknowledged this stable growth path as a result of Indias proactive policy framework, highlighting it as a key contributor to global economic resilience.
Outlook
Looking ahead, Indias medium-term economic outlook remains positive, supported by its reformcentric approach and favourable demographic profile. However, maintaining this growth momentum will require addressing long-standing structural challenges and unlocking the full potential of the labour force. A key priority will be accelerating employment generation, particularly in non-farm sectors, by reskilling the workforce, promoting labour market flexibility, and enabling productive shifts from agriculture to industry and services. Sustaining inclusive growth calls for continued focus on infrastructure, education, and social protection, along with efforts to ease regulations and advance land and trade reforms. Policy continuity, institutional reform, and a competitive business environment can attract long-term investment and support Indias journey toward becoming a $5 Trillion economy.
1
https://www. imf.org/en/Publications/WEO/lssues/2025/07/29/world-economic-outlook-update-july-2025 2https://www.worldbank.org/en/publication/global-economic-prospects3
https://economictimes. indiatimes.com/news/economy/indicators/india-projected-to-grow-6-4-in-2025-2026-reform-momentum- driving-stable-growth-imf/articleshow/122988212. cms4
https://www.pib.gov.in/PressReleasePage.aspx?PRID=2123826#:~:text=Indias%20Growth%20in%20Global%20Context,apart%20on%20the%20global%20stage.
5
https://www. deloitte. com/us/en/insights/topics/economy/asia-pacific/india-economic-outlook. htmlIndustry Overview
Global Renewable Energy Industry6
The global renewable energy sector is on a strong growth trajectory, with capacity expected to increase 2.7 times by 2030, surpassing current targets by nearly 25%, though still falling short of the tripling goal set at COP28. Supportive climate and energy security policies in nearly 140 countries have made renewables cost-competitive with fossil fuels, driving adoption across private sectors, households, and domestic manufacturing.
Under current policies and market conditions, an estimated 5,500 GW of new renewable capacity is projected to come online by 2030, with annual additions reaching 940 GW· 70% higher than last years record. Solar PV and wind will dominate this growth, accounting for 95% of capacity expansion due to their increasing economic viability. The momentum presents a timely opportunity for countries to raise their ambitions in the upcoming 2025 Nationally Determined Contributions (NDCs).
Solar Sector7, 8
2024 marked a record-breaking year for solar power, with global installations reaching nearly 600 GW, a 33% rise over 2023, and accounting for 81% of new renewable capacity additions. Solars share in global electricity generation nearly doubled in three years to 7%, making it the fastest- growing power source, outpacing wind threefold. Total installed capacity crossed 2 TW, doubling in just two years. This growth has been driven by falling costs, technological advances, and solars scalability. While the sector demands faster deployment and stronger global coordination, it is poised for rapid growth, with global solar installations projected to reach 914 GW by 2030.
Battery Energy Storage Systems Sector (BESS)9, 10
The global BESS market is poised for rapid expansion, projected to reach $120-150 Billion by 2030, more than twice its current value. As renewable energy adoption accelerates, BESS is emerging as a critical enabler of grid stability and energy reliability, especially for intermittent sources like solar and wind. Asia-Pacific, with a 49.08% market share, leads global adoption, while markets like the US and emerging economies are gaining momentum. Lithium-ion batteries dominate the space due to their efficiency, scalability, and peak-load support. With ongoing advancements in battery chemistries, cost
reductions, and storage capacity, BESS is set to play a pivotal role in decarbonising energy systems and driving the global shift toward a clean, resilient power future.
Green Hydrogen and E-Fuels Sector11
Global demand for renewable hydrogen and e-fuels is projected to reach 0.17 EJ by 2030, largely driven by policies in Europe, the US, and China. These fuels target aviation, maritime, and heavy transport, but high costs and limited policy support hinder scalability. In Europe, RED III, ReFuelEU Aviation, and UK SAF mandates are boosting uptake, especially in refineries and air transport. The US supports growth through IRA tax credits and fuel standards, making hydrogen and e-kerosene more cost- competitive. In China, fuel-cell vehicles drive demand. Global shipping companies are also entering offtake agreements for ammonia and methanol, totalling around 40 PJ, further stimulating demand in the maritime sector.
Compressed Biogas (CBG) Sector12
The global CBG market is projected to grow from $7.32 Billion in 2023 to $18.07 Billion by 2031 at a CAGR of 11.96%, driven by low-carbon energy adoption, supportive regulations, climate commitments, and demand for sustainable fuels. Countries like Germany, Sweden, and the US are integrating CBG into energy and transport systems. Technological improvements, falling production costs, and strong policy incentives are boosting adoption. CBG offers stability against fossil fuel price volatility and supports local waste-to- energy transitions. Increasing partnerships between waste management and energy producers, along with corporate sustainability goals, continue to drive growth in line with global climate targets.
Indian Renewable Energy Industry13, 14 15
India is rapidly emerging as one of the worlds most dynamic renewable energy markets, driven by growing electricity demand, favourable policy frameworks, and long-term climate commitments. As of FY25, the countrys installed renewable energy capacity has reached 227 GW, comprising solar, wind, biomass, waste- to-energy, and small hydro sources. Solar energy has led this expansion, contributing 23.83 GW in FY25, a sharp increase from 15.03 GW the previous year. Wind energy continues to grow steadily, with over 50 GW installed and a target of 100 GW by 2030. Hydropower remains a vital component, with total capacity expected to grow from 42 GW to 67 GW by 2031-32, supported by 15 GW of projects currently under construction.
6
https://iea. blob.core.windows.net/assets/l7033b62-07a5-4144-8dd0-651cdb6caa24/Renewables2024. pdf 7https://www. solarpowereurope. org/insights/outlooks/global-market-outlook-for-solar-power-2025-2029/detail 8https://www. goldmansachs. com/insights/articles/theoutlook-for-global-solar-energy-continues-to-be-bright 9https://www. fortunebusinessinsights. com/industry-reports/battery-energy-storage-market-10048910
https://www. mckinsey.com/industries/automotiveand-assembly/our-insights/enabling-renewable-energy-withbattery-energy- storage-systems11
https://iea. blob.core.windows.net/assets/17033b62-07a5-4144-8dd0-651cdb6caa24/Renewables2024. pdf 12https://www. marketsandata. com/industry-reports/compressed-biogas-market 13https://www.ibef.org/industry/renewable-energy#14
https://www. pib. gov. in/PressNoteDetails. aspx?id=155063&NoteId=155063&ModuleId=3 15https://static. pib.gov. in/WriteReadData/specificdocs/documents/2025/jun/doc2025610568001. pdfBetween FY16 and FY25, Indias renewable sector has posted a robust CAGR of 19.02%, supported by declining contributed 172.37 billion units of electricity. To improve grid integration and accelerate project implementation, the government is rolling out nine Ultra High Voltage AC transmission lines by 2034 and reforming Right of Way compensation policies. Intra-state transmission systems have also been brought under Late Payment Surcharge Rules to ensure financial discipline. With energy demand projected to reach 15,820 TWh by 2040, renewables will be central to Indias sustainable growth strategy.
Solar Sector16, 17
India has surpassed Japan in solar power generation, emerging as the worlds third-largest producer of solar energy.
Indias solar sector is transforming rapidly, driven by its geographic advantage, progressive policies, and rising energy demand. Positioned within the global solar belt, the country enjoys abundant year-round sunlight, making solar energy a natural choice for its renewable ambitions. Recent years have seen a significant surge in solar installations, driven by favourable market conditions, improved grid connectivity, and targeted government initiatives. The sector is benefitting from large-scale project approvals, increased investment in solar manufacturing, and strong momentum in both utility-scale and rooftop solar segments. States like Maharashtra are accelerating adoption through strategic initiatives, while national programmes such as the PLI scheme are enabling domestic manufacturing capabilities. Indias solar sector is playing a pivotal role in the countrys goal to achieve 500 GW of renewable energy capacity by 2030.
Battery Energy and Storage Systems (BESS) Sector18, 19, 20
Indias Battery Energy Storage Systems (BESS) market is set to expand rapidly, with an expected CAGR of 11.2% between 2025 and 2030. This growth is fuelled by declining lithium-ion battery costs, rising renewable energy integration needs, and strong government support. A key initiative is the BESS Scheme, which targets 4,000 MWh of storage capacity by 2030-31 with
a budget allocation of $1.129 Billion. Complementing this, a Viability Gap Funding (VGF) scheme has been approved to develop 30 GWh of BESS·beyond the 13.2 GWh already underway·attracting investments of around Rs.33,000 Crore. These efforts are central to Indias broader energy goals of achieving 500 GW of renewable capacity by 2030 and reducing emission intensity by 33-35% from 2005 levels. With waivers on inter-state transmission charges extended to 2028 and growing demand for grid stability, BESS is emerging as a cornerstone of Indias energy transition and a critical enabler of a low-carbon future.
Green Hydrogen and E-fuel Sector21, 22
Green hydrogen is gaining prominence as a low-emission solution for hard-to-abate sectors like fertilisers, steel, and oil refining, where electricity alone is insufficient. Backed by the governments Green Hydrogen Mission and a 2030 roadmap, India is well-positioned to become a global hub for hydrogen production and exports.
Simultaneously, Indias e-fuel market is witnessing strong momentum. Valued at $3.59 Billion in 2023, it is expected to grow at a CAGR of 19.7% and reach $464.94 Billion by 2050, with ethanol leading today and e-methanol driving future growth.
Compressed Biogas Sector23
Indias CBG sector is expanding steadily through policy support and clean energy goals. The governments SATAT scheme, launched in 2018, targets the establishment of 5,000 CBG plants, with 53 commissioned as of March 2024. Complementary programmes like GOBAR-Dhan and the New National Biogas Organic Manure Programme promote investment in waste- to-energy infrastructure. CBG supports Indias goals of cutting methane emissions, boosting rural incomes, and strengthening energy independence. Its role in decarbonising transport and industry makes it a strategic clean fuel. With growing demand for sustainable practices, corporate interest, and government incentives, CBG is poised to play a key role in Indias energy mix and environmental commitments in the coming years.
16
https://www. pib. gov. in/PressNoteDetails. aspx?id=155063&NoteId=155063&ModuleId=3 17https://www.ibef.org/download/1753727075_Renewable-Energy-PPT-May-25.pdf 18https://www. kenresearch. com/industry-reports/india-battery-energy-storage-systems-market 19https://www. mordorintelligence.com/industry-reports/india-battery-energy-storage-systems-market 20https://static. pib. gov. in/WriteReadData/specificdocs/documents/2025/jun/doc2025610568001. pdf 21https://www.investindia. gov.in/team-india-blogs/indias-green-hydrogen-rise-7-reasons-invest-2025 22https://www.grandviewresearch.com/horizon/outlook/e-fuel-market/india 23https://www. marketsandata. com/industry-reports/compressed-biogas-marketKey Trends in the Industry 24,25
Energy Security and Reduced Imports: Indias 85% reliance on crude oil imports remains a strategic vulnerability. To strengthen energy security, the government is promoting domestic exploration and diversifying into biofuels and green hydrogen.
Annual Capacity Addition: India added 29.52 GW of renewable energy capacity in FY25, the highest ever in a single year, taking total installed capacity to 220.10 GW, up from 198.75 GW in FY24. This marks a significant step toward meeting the countrys climate and energy security goals under the Panchamrit commitments.
Rise of Renewables and Green Hydrogen:
Investments in solar, wind, and storage are driving Indias green hydrogen roadmap. Industrial collaboration and global partnerships are accelerating progress, though scaling will hinge on demand creation.
Technology Integration and Digitalisation: Discoms are adopting smart meters and AI-driven tools to improve efficiency, reduce losses, and enable data-led planning, advancing intelligent energy infrastructure.
Strengthened Power Distribution and Cybersecurity:
Discoms are complying with CEAs resource adequacy planning (RAP) mandates to secure long-term generation while building cyber-resilient infrastructure.
Progressive Regulatory Reforms: Reforms such as the Oilfields (Regulations and Development) Amendment Act, 2025, seek to simplify upstream investments and improve ease of doing business. Policies on skilling, restructuring, and tech adoption aim to modernise energy governance.
Clean Energy Pipeline: India has a strong pipeline of renewable projects, with 169.40 GW under implementation and 65.06 GW tendered. This includes hybrid, round-the-clock (RTC), peaking power, and thermal and RE bundling projects, aimed at enhancing grid reliability and ensuring a stable supply of clean energy.
Growth Drivers (India)26, 27
Government Commitments
Renewable Energy Targets: India has set ambitious renewable energy goals·scaling capacity from 175 GW to 500 GW by 2030, as pledged at COP26, and further to 2,100 GW by 2047, as announced at the Brainstorming Session on the Indian Power Sector Scenario 2047·reflecting its long-term vision of achieving net-zero emissions by 2070.
National Hydrogen Mission: A $2.4 Billion initiative aims to produce 5 MMT of green hydrogen by 2030
PM Surya Ghar Muft Bijli Yojana (February 2024):
Launched to provide free rooftop solar electricity to one crore households, backed by subsidies and concessional loans.
PM JI-VAN Yojana (2024 Amendment): Supports 2G bioethanol projects using agricultural residues. Over Rs.908 Crore ($106.7 Million) sanctioned, including commercial-scale projects in Panipat, Haryana.
Investments
Rajasthan-NTPC Green Energy MoU: The
Government of Rajasthan signed an MoU with NTPC Green Energy to develop 28,500 MW of renewable energy projects as part of a 31,825 MW power portfolio, with a total investment of Rs.1.6 Lakh Crore ($19.18 Billion). The initiative aims to boost Rajasthans renewable capacity and achieve energy self-reliance.
Favourable Policies and Incentives
India-Netherlands Clean Energy Corridor: A
green and digital corridor is being established between Indian ports and the Port of Rotterdam to deepen bilateral cooperation in clean energy and logistics infrastructure.
National Green Hydrogen Mission: Approved with an outlay of Rs.19,744 Crore ($2.37 Billion), including Rs.17,490 Crore for the SIGHT programme, Rs.1,466 Crore for pilot projects, Rs.400 Crore for R&D, and Rs.388 Crore for other components.
PLI Scheme for Solar PV (Atmanirbhar Bharat):
Under Tranche-II of the PLI Scheme for high-efficiency solar PV modules, Rs.19,500 Crore ($2.35 Billion) was allocated. Letters of Award were issued in April 2023 to establish 39,600 MW of integrated PV module manufacturing capacity.
Company Overview
About Oriana Power Limited
The Company is engaged across the renewable energy value chain, including solar power projects engineering, procurement, and construction (EPC), power generation, compressed biogas, battery energy storage systems (BESS), green hydrogen and e-fuels, as well as leasing, operation, and maintenance services of the above stated. It also undertakes construction, installation and maintenance of related power infrastructure such as power stations, cables, and lines.
Together with its subsidiaries, the Company has an installed and commissioned capacity exceeding 400 MWp and a further ~550 MWp under execution as at March 31, 2025. Energy generated is also sold under long-term Power Purchase Agreements (PPA) executed by subsidiaries.
24
https://www.ey.com/en_in/insights/energy-resources/fueling-the-future-key-trends-and-outlook-for-the-energy-sector25
https://www.pib.gov.in/PressReleasePage.aspx?PRID=212072926
https://www. ibef. org/industry/renewable-energy#27
https://economictimes. indiatimes. com/industry/renewables/india-registers-3-fold-growth-in-renewable-energy-capacity-to- 232gw-in-last-decade/articleshow/121393662.cms?from=mdrKey Offerings
Renewable Energy Solutions: Oriana Power provides end-to-end renewable energy development, installation, and maintenance. Its portfolio covers solar power, green hydrogen, and compressed biogas, driving the transition to low-carbon energy.
Energy Storage Solutions: The Company offers advanced battery and grid-scale storage systems to improve energy efficiency, ensure grid stability, and support better energy management.
Oriana Power caters to a broad spectrum of market segments, including residential, commercial, industrial, and utility-scale clients.
Financial Highlights
Oriana Power reported a strong financial performance in FY25, underscoring its operational strength and strategic focus on clean energy expansion. Revenue from operations grew 2.58 times, reaching Rs.98,716.60 Lakh, up from Rs.38,287.49 Lakh in FY24. This growth was driven by the successful execution of utility-scale and C&I renewable energy projects across the country, supported by an expanding pipeline and steady commissioning pace.
EBITDA increased nearly 2.96 times, reflecting improved scale, disciplined cost control, and enhanced operational efficiency. The Company also reported a
2.92-times increase in Profit After Tax (PAT), which rose to Rs.15,855.42 Lakh in FY25. This performance was supported by improved margins, lower financing costs, and a more efficient capital structure. The debt-to-equity ratio improved significantly, reducing from 1.26 to 0.53, as a result of effective capital management. The current ratio stood at 1.47, indicating a healthy liquidity position. These results reflect Oriana Powers strong financial foundation and its growing role in powering Indias clean energy future.
The segment and product-wise performance of the Company for FY25 has been disclosed in Note No. 32 of the Consolidated Financial Statements. Further, the Key Financial Ratios reflecting the Companys financial strength are presented in Note No. 29 of both the Standalone and Consolidated Financial Statements.
Consolidated Financial Highlights
Revenue from Operations: During FY25, the Company
reported revenue from operations of Rs.98,716.60 Lakh.
EBITDA: The EBITDA for the year stood at Rs.24,537.90 Lakh.
PAT and PAT Margin: The Company recorded a Profit After Tax (PAT) of Rs.15,855.42 Lakh, with a PAT margin of 16.06%, highlighting strong profitability.
EPS: The Company reported Basic Earnings Per Share (EPS) of Rs.79.52 in FY25.
Particulars
Particulars | Y-O-Y | |
For the year ended FY25 (Audited) | For the year ended FY24 (Audited) | |
I. Revenue from operations | 98,716.60 | 38,287.49 |
II. Other income | 1,090.11 | 292.03 |
III. Total income (I+II) | 99,806.71 | 38,579.52 |
IV. Expenses | ||
Cost of material consumed | 71,956.32 | 27,479.95 |
Purchase of stock-in-trade | 6.33 | 988.84 |
Changes in inventory of finished goods, work-in-progress, and stock-in-trade | - | (40) |
Employee benefits expense | 1,631.62 | 761.1 |
Finance costs | 2,452.42 | 602.55 |
Depreciation and amortisation expense | 849.08 | 203.75 |
Other expenses | 1,674.54 | 1,026.09 |
Total expenses | 78,570.31 | 31,022.28 |
V. Profit before extraordinary items and tax (III-IV) | 21,236.40 | 7,557.24 |
VI. Extraordinary items | ||
Prior period items | - | (6.10) |
VII. Profit before tax (V-VI) | 21,236.40 | 7,563.34 |
VIII. Tax expense: | ||
Current tax | 5868.62 | 1,929.15 |
Deferred tax | (487.37) | 199.14 |
Tax for earlier years | (1.23) | 6.68 |
IX. Profit/(Loss) for the year (VII-VIII) | 15,853.92 | 5,428.37 |
X. Minority interest in subsidiaries | (1.49) | (6.72) |
XI. Profit (Loss) for the period (IX-X) | 15,855.42 | 5,435.09 |
Earnings per equity share (in Rs.j | ||
a) Basic | 79.52 | 33.41 |
b) Diluted | 79.52 | 33.41 |
Assets
Assets | FY25 | FY24 |
1) Non-current assets | ||
a) Property, plant and equipment, and intangible assets | ||
i) Property, plant and equipment | 25,610.13 | 13,534.80 |
ii) Capital work in progress | 4,942.01 | 5,160.67 |
iii) Intangible assets | - | - |
iv) Intangible assets under development | 73.14 | 12.84 |
v) Leased asset | 1,242.09 | |
b) Non-current investments | 1,111.33 | 1,110.33 |
c) Deferred tax assets (net) | 64.76 | - |
d) Long-term loans and advances | 1,006.07 | 90.87 |
e) Other non-current assets | 10,748.03 | 427.96 |
2) Current assets | ||
a) Inventories | 2,245.45 | 1,548.95 |
b) Trade receivables | 39,415.34 | 7,852.03 |
c) Cash and bank balance | 7,040.52 | 7,271.65 |
d) Short-term loan and advances | 9,391.53 | 2,376.37 |
e) Other current assets | 33,403.38 | 1,632.24 |
TOTAL | 1,36,293.78 | 41,018.71 |
Equity and Liabilities
Equity and Liabilities | FY25 | FY24 |
1) Shareholders Funds | ||
a) Share capital | 2,031.92 | 1,918.26 |
b) Reserves and surplus | 48,933.32 | 12,701.65 |
Minority interest | 798.44 | 246.16 |
2) Non-current liabilities: | ||
a) Long-term borrowings | 22,012.19 | 13,272.47 |
b) Long-term provisions | 94.08 | 57.28 |
c) Deferred tax liabilities (net) | - | 422.51 |
3) Current liabilities: | ||
a) Short-term borrowings | 5,049.29 | 5,080.11 |
b) Trade payables | - | |
- Total outstanding dues of micro enterprises and small enterprises | 336.05 | 570 |
- Total outstanding dues of creditors other than micro enterprises and small enterprises | 18,210.39 | 3,549.13 |
c) Other current liabilities | 32,896.38 | 1,140.41 |
d) Short-term provisions | 5,931.72 | 2,060.73 |
TOTAL | 1,36,293.78 | 41,018.71 |
Risk Factors
Regulatory Risks: Oriana Power operates within a shifting regulatory landscape. Policy changes, subsidy withdrawals, or unfavourable regulations could affect operations, project feasibility, and financial performance. To mitigate these risks, the Company works closely with regulatory bodies and continuously monitors policy developments to remain aligned and compliant.
Market Risks: The solar sectors competitiveness, rapid technological advancements, pricing pressures, and demand fluctuations may affect growth and margins. Market volatility could impact revenue stability and market positioning. While the Company is not engaged in manufacturing, it remains adaptable to product and technology shifts, mitigating potential market volatility.
Project Execution Risks: Timely EPC execution is critical. Delays, cost overruns, or supply chain and quality issues may impact delivery timelines, client satisfaction, and profitability. The Company mitigates these risks through its in-house project management team, ensuring timely and efficient execution.
Financial Risks: The Companys growth depends on stable cash flows, capital access, and prudent debt management. Funding constraints or weak financial controls may limit strategic execution. These risks are mitigated through a strong client base and milestone-linked payment terms that support liquidity requirements.
Quality Risks: The Companys dependence on solar technologies exposes it to risks of quality lapses, malfunction, or obsolescence, which may impact performance and long-term returns. These risks are mitigated through stringent quality controls and rigorous pre-commissioning checks that ensure reliability and durability.
Operational Risks: Equipment failures, cyber threats, or natural events can disrupt operations. Gaps in operational controls or risk systems may cause downtime and financial losses. The Company mitigates these risks through real-time monitoring enabled by SCADA systems.
Environmental Risks: Although aligned with sustainability goals, the Company faces climate- related events, regulatory scrutiny, and disaster risks. Non-compliance or environmental impacts may affect reputation and operations. All assets are covered by insurance against environmental risks.
Geopolitical Risks: With cross-regional exposure, the Company is vulnerable to political shifts, policy changes, and global trade disruptions that may affect business continuity and strategic outcomes. The Governments Make in India initiative for the solar industry helps mitigate such risks.
Internal Control and Its Adequacy
The Companys Internal Control Framework is subject to continuous monitoring and periodic independent audits, which have affirmed its adequacy and effectiveness. The system is structured to uphold strong governance standards and protect corporate assets from unauthorised use or misappropriation. It emphasises rigorous authorisation protocols, accurate documentation, and transparent financial reporting across all transactions. Furthermore, the Framework incorporates measures to ensure optimal resource allocation, enhance operational efficiency, and maintain full compliance with all applicable legal and regulatory requirements.
Human Resource
Oriana Power is building a culture that values inclusion, safety, and growth. Named one of the Best Places to Work by The Times of India, the Company has rolled out several HR initiatives to support employee well-being and development. From safety training, PPE provision, and health check-ups for field staff to POSH and role-specific learning, Oriana ensures employees are supported from day one. An anonymous suggestion box encourages feedback and continuous improvement, while cultural events and team activities promote bonding. SAP training, external learning, and direct access to senior leadership help build future-ready capabilities and align teams with broader goals. Reflecting this momentum, the Company expanded its workforce from 92 to over 179 in FY25.
For and on behalf of the Board of Directors | ||
Oriana Power Limited | ||
Rupal Gupta | Parveen Kumar | Anirudh Saraswat |
DIN: 08003344 | DIN: 08003302 | DIN: 06472271 |
MD and CEO | Whole-time Director (CTO and COO) | Whole-time Director (CBO) |
Tanvi Singh | Shivam Aggarwal | |
Company Secretary | Chief Financial Officer | |
Place: Noida | ||
Date: August 28, 2025 |
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