Multibagger small-cap stock hits 5% upper circuit on ₹836 crore green energy order win
Bondada Engineering on Tuesday, 24 June 2025, announced having won a large green energy storage order worth ₹ 836 crore.
Bondada Engineering, in its release on the BSE, or Bombay Stock Exchange, announced receipt of a letter of award from Tamil Nadu Green Energy Corporation Limited.
As per the release, Bondada Engineering Limited has obtained a Letter of Authorization (LOA) from M/s. Tamil Nadu Green Energy Corporation Limited (TNGECL) to establish Battery Energy Storage Systems (BESS).
Bondada Engineering highlighted that this is the highest storage capacity order in the history of the company in BESS business line, marking a significant step towards creating bigger battery energy storage systems as a part of the company's vision to reach 10 GW capacity in green space by 2030.
The project would install 400 MWh of standalone grid-scale BESS facilities at two strategic locations in Tamil Nadu State, i.e., at Vellalaviduthi and at Thennampatty. As per Bondada Engineering, Tamil Nadu's clean energy transition will be accelerated by the program, which aims to manage peak power demand, integrate renewable energy, and improve grid stability.
After TNGECL held a competitive tendering procedure, Bondada Group emerged as the successful bidder, and the project will be carried out under the build-own-operate (BOO) model.
'This project marks a key milestone for Bondada Group in the energy storage segment and reflects our strong commitment to advancing India's clean energy ecosystem,' as per Bondada Engineering.
The broad consideration for this order from Tamil Nadu Green Energy Corporation Limited shall be Rs. 8,36,00,64,000/- (Rupees Eight Hundred Thirty Six Crore Sixty Four Thousand Only) (including GST) over a period of 12 years.
The time period in which the order is to be executed stands at 18 months from the execution of the Battery Energy Storage Purchase Agreement.
Bondada Engineering share price opened at ₹ 456 on the BSE on Tuesday and at the time of opening was higher compared to the previous day's closing price of ₹ 444.10 for Bondada Engineering share price. The Bondada Engineering share price thereafter rose to an intraday high of ₹ 466.30, which translated into gains of 5%. The upper price band for Bondada Engineering share price also stands at 5%; the stock was locked in the upper circuit.
Bondada Engineering share price, which has gained 1322% in last 5 years, has given multibagger returns to the investors.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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