Solar stake purchase raised to Rs 3.64 crore; Rs 180 crore capex approved
MARALOVER · price
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Maral Overseas will invest up to Rs 3.64 crore for 26% of Asawata Energy to develop a 15 MW captive solar plant, versus Rs 2.60 lakh approved earlier. The board also approved up to Rs 180 crore of plant upgrades through 2030. For the September quarter, revenue was Rs 30.13 crore and profit after tax Rs 7.00 crore, compared with a loss of Rs 2.78 crore a year earlier.
Profit recovery is positive. The solar and plant investments may cut power costs and add capacity, but increase funding needs and execution risk.