Board approves JV for HYMAX Green Energy, new Independent Director
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Board on July 18, 2026 approved three items: (1) appointment of Prof. Gurudayal Singh Toteja as Non-Executive Independent Director for 5 years; (2) a Joint Venture and Commercialisation Agreement with Globalone Enterprises for the HYMAX Green Energy Project, starting with a 10-system Proof of Concept at an estimated cost of Rs 3 Crore (75 percent funded by company, 25 percent by partner), with a project vehicle planned at equal participation; (3) a Business Operation and Management Agreement with The Cloud Water to operate a packaged drinking water plant, where the company bears all costs and retains 100 percent of net profits.
Signals diversification beyond apparel into green energy and packaged water. Small initial outlay but watch for project vehicle formation and scaling.