Rama Steel Tubes Limited has informed the Exchange regarding a press release dated Jun 05, 2025, titled "Media Release / Press Release, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.".
RAMASTEEL · price
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Rama Steel Tubes has announced a strategic entry into the renewable energy sector by taking a 10% equity stake in Onix IPP, a Special Purpose Vehicle (SPV) executing a 225 MW solar power project in Maharashtra under the Government's PM-KUSUM scheme. The project has signed 25-year Power Purchase Agreements (PPAs) with Maharashtra's state electricity distributor (MSEDCL) at a fixed tariff of ₹3.10 per unit. The SPV is projected to generate ₹1,081.13 million in gross annual revenue, translating to RSTL's share of approximately ₹108.11 million per year and ₹2,702.81 million over 25 years. The company highlighted that this move diversifies its revenue base, supports its ESG goals, and aligns with India's net-zero vision.
This adds a predictable, long-term revenue stream with 25-year locked-in PPAs, reducing RSTL's dependence on its core steel tubes business. The diversification into solar energy may be viewed positively by the market, though the financial contribution is modest relative to the company's existing operations.