Rajputana Stainless shares are under scrutiny after securing an order from Suzlon Energy for a 2.10 MW wind project in Gujarat, valued at ₹16.21 crore. This marks a significant development for the company since its IPO debut in March, with shares now trading 52% higher than their original price of ₹122. The stock has gained momentum, crossing the ₹180 mark and finishing each of the last three months in the green, with August emerging as the strongest month when the stock jumped 25%. From its low of ₹101, the stock has rebounded nearly 84%.
The board of Rajputana Stainless approved the award of a 2.10 MW wind power project to Suzlon Energy at its meeting held on 7 September 2026. According to reports from Business Standard, the wind project involves setting up 1 unit of Suzlon make S120_140_2100kW capacity wind turbine generator at the Jamjodhpur site in Gujarat. The company also approved the award of a 8MWp DC Solar Project at the Banaskatha site in Gujarat to Prozeal Green Energy, Ahmedabad.
The wind project will be located at the Jamjodhpur site in Gujarat, featuring a 2.10 MW capacity with Suzlon's S120_140_2100kW turbine generator technology. As reported by Business Standard, the solar project has a 8MWp DC capacity and will be developed at the Banaskatha site in Gujarat. The ₹16.21 crore order is valued per wind turbine generator plus GST and is to be executed within 11 months. The company confirmed that the order does not involve any interest from its promoter or promoter group in the awarding entity and does not fall under related-party transactions. The solar project is expected to be completed within 4 months.
According to the reports from Business Standard, these renewable energy projects will cater specifically to the captive power needs of Rajputana Stainless. The combined capacity of 10.10 MW across wind and solar technologies represents a significant step toward the company's renewable energy adoption strategy. For Q1FY27, the company reported 32.4% year-on-year growth in revenue from operations to ₹306.54 crore compared to ₹231.50 crore in the same quarter last year. Profit after tax (PAT) rose 80.5% to ₹20.20 crore from ₹11.19 crore in Q1FY26. The company manufactures long and flat stainless-steel products across more than 80 grades, exporting to nine countries including Turkey, UAE, Poland, Portugal, US, South Africa, South Korea, Czech Republic, and Kuwait.
