Rajesh Power Services FY27 orders hit ₹2,782.56 Cr

What’s driving attention on Rajesh Power Services

Rajesh Power Services Limited (RPSL) has been in focus after a string of order-related disclosures and business updates tied to state power utilities. The company operates as an engineering, procurement, and construction (EPC) player, providing end-to-end turnkey solutions including design, consultancy, procurement, execution, testing, and commissioning. It also offers power utility services such as operations and maintenance, and utility services like cable testing and fault location for both utility and private clients.

In its FY26-27 order value trend, the company’s order value for FY 2026-27 was reported at ₹2,782.56 crore, with a quarter-on-quarter growth figure of 457.26%. Separately, a Q1 FY26-27 update disclosed new project wins and a reported order book size, providing investors more context on near-term execution visibility.

PGVCL turnkey contract in Jamnagar: MVCC on 11 kV feeders

On July 22, 2026, Rajesh Power Services disclosed that it received a turnkey contract valued at approximately ₹40.58 crore (inclusive of taxes) from Paschim Gujarat Vij Company Limited (PGVCL). The work relates to PGVCL’s System Improvement (SI) Scheme in Gujarat.

The scope includes supply, installation, testing, and commissioning of 11 kV Medium Voltage Covered Conductor (MVCC) with associated accessories and allied items. The project is to be executed across 11 kV feeders in PGVCL’s Jamnagar Circle. Such feeder-level upgrades are typically linked to reliability improvements and operational safety enhancements, and they also tend to be structured as defined-scope execution packages for EPC contractors.

Underground distribution orders in Gujarat: ₹653.12 crore package

In another update, Rajesh Power Services disclosed that it secured turnkey orders worth ₹653.12 crore (including taxes) from PGVCL for underground power distribution works in Gujarat. The contracts involve conversion of existing 11 kV high tension (HT) and low tension (LT) overhead distribution networks into underground cable systems with Ring Main Systems (RMS).

The scope also includes Geographic Information System (GIS) mapping and asset tagging across PGVCL circles in Bhavnagar, Anjar, Junagadh, and Porbandar. For EPC companies, GIS mapping and asset tagging components can be important because they extend work beyond cable laying into system-level documentation and network readiness deliverables.

Additional domestic orders from PGVCL and RVPNL

Rajesh Power Services also reported smaller-sized domestic orders across two utilities. The company disclosed that it secured new domestic orders worth ₹34.37 crore (including taxes) from Paschim Gujarat Vij Company Ltd. (PGVCL) and Rajasthan Rajya Vidyut Prasaran Nigam Ltd. (RVPNL).

These disclosures were made under Regulation 30 of the LODR framework, described as intimation of orders received from PGVCL and RVPNL. While the article data does not provide project-level scope details for these specific orders, the counterparties are clearly identified as state power entities.

Q1 FY26-27 business update: wins, revenue, and order book

Rajesh Power Services disclosed its Q1 FY26-27 business update on July 16, 2026. According to the update, new project wins secured during the first quarter of FY26-27 totaled ₹864.8 crore. The same update reported revenue of ₹436.62 crore and an order book of ₹3,741.79 crore.

Alongside the Q1 figures, the company’s FY26-27 order value trend data point showed FY 2026-27 order value at ₹2,782.56 crore, with quarter-on-quarter growth of 457.26%. Taken together, the disclosures indicate an active order inflow period, with multiple wins tied to state utility upgrade programs.

Share price snapshot and recent news flow

In the provided share price insights, Rajesh Power Services’ share price was noted to have moved down by -1.9% from its previous close of ₹746.35. The news list also includes earlier headlines such as “Rajesh Power Services Gains After Securing ₹362.82 Crore PGVCL Order,” indicating that order wins have been key catalysts in recent coverage.

Separately, the news feed referenced “Rajesh Power Secures ₹959.79 Cr Order from Gift Power” dated June 18, 2025, and mentioned that Rajesh Power Services shares listed at a 90% premium over the IPO price on BSE SME on December 2, 2024. These points establish that the stock has seen multiple news triggers since listing, particularly around project awards.

Peer comparison snapshot (limited to available data)

The peer comparison table provided includes one visible competitor data row for CESC. The data is reproduced below as presented.

Key data points at a glance

The following table consolidates the specific figures and disclosures included in the provided article text.

Why these orders matter for execution visibility

The disclosed contracts are concentrated around regulated state utilities such as PGVCL and RVPNL, indicating continued reliance on government-owned counterparties for EPC and network upgrade work. The mix of MVCC, underground cabling, RMS, and GIS mapping points to distribution-system modernisation themes rather than greenfield generation projects.

From an investor standpoint, the most measurable takeaways in the provided data are the pace of order inflows (₹864.8 crore in Q1 FY26-27), the reported revenue figure (₹436.62 crore in the Q1 update), and the disclosed order book size (₹3,741.79 crore). These are the reference points the market typically uses to track near-term revenue conversion potential, although the article data does not provide timelines for project completion.

What to watch next

Based on the disclosures referenced, investors will likely track subsequent Regulation 30 announcements for additional order awards from state utilities and any future quarterly business updates. The company has already published a Q1 FY26-27 update dated July 16, 2026, and further updates would clarify how the disclosed order book converts into revenue across FY26-27.