JK Lakshmi Cement Limited’s Board of Directors has approved an investment of up to ₹20.50 Crore in a Special Purpose Vehicle named STLC RE 1 Limited. This entity is designated to facilitate the group’s acquisition of solar power under the applicable group captive power route. The move aims to secure renewable energy sources and reduce operational power costs at its plant locations.
Investment in Renewable Energy
JK Lakshmi Cement Limited has announced a strategic investment of up to ₹20.50 Crore in equity shares of STLC RE 1 Limited. This Special Purpose Vehicle (SPV) is being established to facilitate the company’s commitment to renewable energy sourcing through a group captive power arrangement. The Board of Directors gave its approval for this investment during a meeting held on August 5, 2026.
Strategic Rationale and Project Details
The primary objective behind this investment is to secure the sourcing of renewable power, thereby reducing the cost of power for the company’s various plant locations. The SPV, STLC RE 1 Limited, is intended to set up a 29MW AC / 42 MWP DC Solar Power Plant, complemented by a 28 MWh Battery Energy Storage System (BESS). This facility will be located at the company’s Integrated Cement Plant in Sirohi, Rajasthan. The proposed transaction involves acquiring a minimum of 26% equity shares in STLC RE 1 Limited.
Transaction Details
STLC RE 1 Limited was incorporated on March 18, 2025. For the financial year ended March 31, 2026, the company reported a turnover of Nil, a net loss after tax of (₹61,808.00), and a net worth of ₹38,192.00. The acquisition is considered a related party transaction, as the Promoter Group (Sago Trading Limited) holds 100% of STLC RE 1 Limited’s issued, subscribed, and paid-up equity share capital. The transaction is conducted on an ‘arm’s length’ basis and has received approval from the Audit Committee of JK Lakshmi Cement Limited. The indicative time period for the completion of this acquisition is by December 31, 2026.
Source: BSE
