Esab India Limited has informed the Exchange regarding revised outcome of Board meeting held on February 10, 2025
ESABINDIA · price
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Awaiting price reaction for this filing.
Esab India has submitted a revised outcome of its board meeting held on February 10, 2025, detailing equity investments in two renewable energy Special Purpose Vehicles. The first is Sunsure Solar Park Twenty-Four Pvt Ltd (SSTWPL) for solar power, with a board-approved amount of Rs. 2.12 crore (Rs. 17.19 lakh already invested), giving Esab a 9.78% stake. The second is Viviid Clean Energy (One) Pvt Ltd (VCEOPL) for wind power, with a board-approved amount of Rs. 54.12 lakh (Rs. 29.12 lakh already invested), giving Esab a 26% stake. The purpose is to procure renewable power for Esab's manufacturing plants in Tamil Nadu (solar) and Maharashtra (wind) under group captive consumption arrangements. Both SPVs are newly incorporated companies in the process of setting up their respective power plants. The filing was revised to include board meeting timings (20:45 to 21:30 hours on Feb 10) that were missed in the original disclosure.
This is a small strategic step towards green energy sourcing for Esab's manufacturing operations, likely helping reduce long-term power costs and improve sustainability credentials. The investment size (under Rs. 3 crore total approved) is modest relative to the company's scale and unlikely to materially move the stock price, though it signals management's focus on renewable energy adoption.