| Market Cap | ₹1,264.27 CrSmall Cap |
|---|---|
| Revenue TTM | ₹3,382.03 CrAnnual Operating |
| RSI | 70.4Overbought |
| Order from | Bharat Aluminium Company Limited |
| Execution period | 60 months |
| Deal value | ₹2,049.8 Cr |
| Share of market cap | 162.1% |
| Share of annual revenue | 60.6% |
Key highlights
- Total estimated contract value stands at ₹2,049.8 Crores including additional services
- Contract duration is fixed for 60 months commencing from July 1, 2026
- Project involves comprehensive operations and maintenance of a 1740 MW power plant
- Awarded to wholly-owned step-down subsidiary STEAG Energy Services (India) Private Limited
- Order issued by domestic entity Bharat Aluminium Company Limited (BALCO)
What Is the Order?
The contract entails the comprehensive operations and maintenance of a 1740 MW power plant facility. Awarded to STEAG Energy Services (India) Private Limited, a wholly-owned step-down subsidiary of Bluspring Enterprises, the project carries an estimated aggregate value of ₹2,049.8 crores. This total includes the core O&M services along with additional required services defined in the agreement.
The execution period is scheduled for 60 months, with the contract officially coming into force on July 1, 2026, providing a stable long-term service commitment for the subsidiary.
Client Profile
Bharat Aluminium Company Limited, commonly known as BALCO, is a major integrated primary aluminum producer in India and a subsidiary of Vedanta Limited. The company operates a significant industrial presence in Korba, Chhattisgarh, where it manages large-scale smelting operations supported by substantial captive power generation capacity. As a domestic entity with a high demand for consistent power supply to fuel its aluminum production, BALCO represents a high-profile client in the industrial and energy sectors, emphasizing the technical requirements of the O&M mandate.
Business Impact
The acquisition of this ₹2,049.8 crore order provides a substantial boost to the company's order book, with the contract value notably exceeding Bluspring's current market capitalization of approximately ₹1,264 crore. This win validates the technical capabilities of its subsidiary in managing large-scale thermal power assets and secures a predictable revenue stream through 2031. The 60-month duration allows for operational stability and economies of scale within the O&M segment, potentially improving the company's margin profile as it executes this long-cycle service contract.
Financial Context
- Annual operating revenue for the trailing twelve months stands at ₹3,382.03 crores
- The stock has shown strong recent momentum with a 30.43 percent gain over the last month
- Promoter holding remains stable at 58.17 percent as per the latest quarterly filing
- Current market valuation places the company at a price-to-book value of 1.9
- Institutional investors, including Mutual Funds and FIIs, hold a combined 14.42 percent stake
| Share price | ₹84.6 |
|---|---|
| Market capitalisation | ₹1,264.27 Cr |
| Revenue (annual) | ₹3,382.03 Cr |
| Net profit (annual) | -₹15.34 Cr |
| Revenue (latest quarter) | ₹864.80 Cr+0.26% vs previous quarter |
| Net profit (latest quarter) | ₹4.12 Cr+120.69% vs previous quarter |
| P/E (TTM) | -82.41×Sector 35.63× |
| Promoter holding | 58.17%-0.07% QoQ |
| FII holding | 5.71%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Bluspring Enterprises Limited announcing a major O&M contract award for its subsidiary. Market figures from a third-party data provider.
