Subsidiary signs 25-year captive solar PPA; ELGI and Tablets India take 31.15% stake
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Constronics Infra's subsidiary Constronics Energy Solutions executed a 25-year captive power purchase agreement with listed ELGI Equipments and unlisted Tablets India. The partners acquired a combined 31.15 percent equity stake in the subsidiary to become designated captive users. Under the deal, they will off-take 7.85 MWp DC of solar energy, generating an initial annual revenue of about 5.20 Crores. The company claims this will boost current year net profit by 450 percent versus last year.
New long-term revenue stream of about 5.20 Crores annually; company projects 450 percent profit growth, though credibility needs scrutiny given early-stage claims.