Shares of Bluspring Enterprises Ltd. rose on Friday after its subsidiary secured a long-term operations and maintenance contract from Bharat Aluminium Company Ltd. (BALCO).
The stock was trading at ₹95, up 3.3% from the previous close of ₹83.80. During the session, it touched an intraday high of ₹98.30, rising 17.3%.
Bluspring Enterprises has a market capitalization of around ₹1,360 crore.
₹2,050 crore contract from BALCO
The order has been awarded to STEAG Energy Services (India) Pvt. Ltd., a wholly-owned step-down subsidiary of Bluspring Enterprises.
The contract covers comprehensive operations and maintenance services for BALCO’s 1,740 MW power plant.
Key details
- Customer: Bharat Aluminium Company Ltd. (BALCO)
- Contract value: ₹2,049.8 crore, including additional services
- Duration: 60 months
- Effective date: July 1, 2026
- Nature: Domestic contract
- Related-party involvement: None
Larger than the company’s market value
The total contract value is higher than Bluspring’s market capitalization.
Spread over five years, the order translates into annual revenue potential of roughly ₹410 crore.
For comparison, the company reported consolidated revenue of ₹3,382 crore in FY26.
Q4 FY26 results
The order comes as the company reported improved financial performance in the March quarter.
Quarterly performance
| Particulars | Q4 FY25 | Q4 FY26 |
|---|---|---|
| Revenue | ₹801 crore* | ₹865 crore |
| EBITDA | ₹5 crore* | ₹25 crore |
| PAT | Loss of ₹23 crore | Profit of ₹4 crore |
*Based on the company’s reported year-on-year growth figures.
Revenue rose 8% year-on-year, while EBITDA increased 428%.
Operating margin improved by 230 basis points to 2.9%.
The company posted a profit of ₹4 crore, compared with a loss of ₹23 crore a year earlier.
FY26 turnaround
For the full year, Bluspring reported:
- Adjusted PAT: ₹14 crore
- FY25 adjusted PAT: Loss of ₹18 crore
The shift represents a 174% improvement over the previous year.
About the company
Bluspring Enterprises Ltd., formerly known as Thermax Infrastructure Ltd., is a Bengaluru-based energy services company listed on the BSE and NSE.
Through its subsidiaries, the company provides operations and maintenance services for thermal and industrial power plants.
Its subsidiary STEAG Energy Services (India) specializes in managing large-scale power assets for industrial customers.
TL;DR
Bluspring Enterprises rose after its subsidiary secured a ₹2,049.8 crore operations and maintenance contract for BALCO’s 1,740 MW power plant. The five-year order is larger than the company’s ₹1,360 crore market capitalization and comes amid improving financial performance.
AI summary
- Bluspring’s subsidiary won a ₹2,049.8 crore BALCO contract.
- The order covers operations and maintenance of a 1,740 MW power plant.
- The contract runs for five years from July 2026.
- The deal value exceeds Bluspring’s market capitalization.
- The company returned to profitability in Q4 FY26.
