Craftsman Automation Limited has informed the Exchange regarding 'Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Company has made equity investment in Eastsquare Energy India Private Limited for solar power under the Group Captive Scheme as required under the provisions of the Electricity Act, 2003'.
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Craftsman Automation has made an equity investment in Eastsquare Energy India Private Limited, a solar power company. The investment is being made under the Group Captive Scheme as required under the Electricity Act, 2003, suggesting it is aimed at securing renewable energy for the company's own operational use. This is part of Craftsman's strategy to source power through a group captive arrangement, which is a common route for industrial users to meet renewable energy obligations. The specific investment amount has not been disclosed in this filing.
This is a positive long-term move as it helps Craftsman Automation lock in solar power at predictable costs, reduce reliance on grid electricity, and meet renewable energy compliance norms. Without the disclosed investment size, the short-term financial impact on shareholders is limited, but it signals the company's focus on energy cost optimization and ESG alignment.