Chiraharit Limited

Supplies and installs piped water and pneumatic systems — primarily HDPE pipes, fittings, pumps and module cleaning systems — for solar, wind, irrigation and drinking water projects in India and overseas. Order activity in the year centres on solar module cleaning systems (MCS) and pipe-and-fitting supply for renewable energy developers including Tata Power Renewable, Sterling and Wilson, Amara Raja Infra, Greenko, Mahindra Susten, SAEL, Zetwerk, VSL Green Power, Solarworld and TP Vardhaman Surya (Tata Group). It also delivers balance-of-plant equipment such as SVG units and filters for wind projects, electromechanical works for potable water systems for clients such as Newzone India (Torrent Group), and an international order for a center-pivot irrigation system in Tanzania from Eagle Agrotech. Through its 72%-owned subsidiary Malaxmi Polymers, it manufactures HDPE and PVC pipes, which recorded a turnover of Rs 7.36 crore in FY25-26. Materials — chiefly HDPE — are the dominant cost at 83.1% of revenue, with employee cost at 11.6%; the company reported that HDPE raw material prices rose over 60% in FY26 and it could not pass this on under short-term contracts, which compressed profitability. The company raised Rs 3,107.16 lakh through an IPO on 8 October 2025 and is listed on the BSE SME platform.