GOCL Corporation Limited has informed the Exchange update about is Board decision
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GOCL Corporation's Board has approved, in-principle, the acquisition of the thermal power operations of Hinduja National Power Corporation Limited (HNPCL), subject to due diligence. HNPCL operates a 1040 MW (2x520 MW) thermal power plant near Visakhapatnam, Andhra Pradesh, with potential for capacity expansion. As per FY24 audited financials, HNPCL reported revenue of Rs. 3,573.36 crore, net profit of Rs. 996.97 crore (including Rs. 289.17 crore of regulatory income), and net worth of Rs. 3,935.42 crore. The move comes as GOCL is in the final stages of monetising its Kukatpally land in Hyderabad and divesting a major subsidiary, with the resulting surplus to be deployed into the energy sector. The company has stated it will provide further updates as the process progresses.
This marks a major strategic pivot for GOCL from a company winding down legacy assets to entering operating businesses in the energy sector. If the deal closes on reasonable terms, it could significantly boost GOCL's earnings and asset base, though it is still preliminary and subject to diligence. Shareholders should watch for further updates on valuation, deal structure, and potential funding.