Shah Metacorp Limited has informed the Exchange about General Updates
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Shah Metacorp Limited has signed a strategic MOU with Strike Eco Grid Private Limited to enter the renewable energy sector. The company will acquire an initial 26% stake in Strike Eco with plans to increase it up to 75% in phases, subject to due diligence and regulatory approvals. Shah Metacorp also committed funding support of up to Rs. 25 crore for renewable energy projects including solar EPC, captive and open access power projects, and ESG-related businesses. The company reported revenue of around Rs. 149 crore and PAT of Rs. 4 crore in Q3 FY26, with Q4 FY26 results expected later this month. This marks Shah Metacorp's official entry into renewable energy, expanding from its core stainless steel and mild steel manufacturing business.
This diversification into renewable energy represents a significant strategic shift for Shah Metacorp, though it does not immediately impact near-term financials from its core steel operations. The Rs. 25 crore investment commitment is relatively modest compared to its quarterly revenue.