SGMART · price
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SG Mart Ltd, formerly Kintech Renewables Limited, has entered the renewable energy sector by launching solar module mounting structures under the brand APL Apollo SunSteel. The company has already secured confirmed orders worth Rs. 266 Cr (excluding GST) from multiple Independent Power Producers (IPPs). Supplies have commenced and initial deliveries are underway. The move leverages the company's existing steel procurement and pan-India distribution network, aiming to tap into India's growing solar infrastructure demand. Management described the response from IPPs and EPC contractors as encouraging, indicating plans to scale the segment rapidly.
This is a positive diversification move for shareholders, opening a new growth vertical in the high-demand renewables space. The Rs. 266 Cr order book validates market acceptance and could meaningfully boost future revenues, though execution and scaling risks remain as this is a new segment.