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Ravindra Energy Ltd market cap surged from Rs 1 cr to Rs 800 cr

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Ravindra Energy (earlier RavindraTrading & Agencies Ltd) is a Renuka Group Energy company. Mrs. Vidya M Murkumbi (Mother of Narendra Murkumbi) is the chairperson and J Suresh Kumar (earlier CFO of Lanco) is the CEO and CFO. Its registered office is in Belagavi.
The market cap of the company had surged from Rs 1 crore to over Rs 800 crore in last one year and stock has now seen correction from Rs 73.8 to Rs 51 in last one month. The company’s m-cap now stands corrected at Rs 600 crore.
Ravindra Energy operates coal mine in Indonesia with reserves of around 100 million tonne and is into resource and infrastructure development and alternative solutions and solar powering.
REL’s primary objective is to undertake the business of resource & infrastructure development activities in India and elsewhere, either on its own or jointly with one or more entities or through Public Private Partnership (PPP). The company has undertaken other business initiatives on development of Solar energy projects. The company has been setting up Solar Pump Irrigation systems for irrigation of farm land and we are in the process of replicating the same at various locations in the country. REL is also adding other solar applications (Grid based/ Off-Grid) i.e. solar power plants, in its portfolio.
The company is also in the process of developing a captive port in the state of Karnataka. The concession agreement has been signed with the Govt. of Karnataka and the company has applied for various statutory clearances.
REL’s consolidated revenue for FY 2013-14 is Rs. 5667.31 million and PAT is Rs. 58.25 million.

The stock is currently trading at 51.75 on the BSE.

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