Godawari Power and Ispat (GPIL) has announced board approval for several strategic initiatives including financial results for Q2 2026, preferential allotment of warrants, and major capital expenditure. The company is setting up a 250 MWp Solar Power Plant at Raigarh and making investments in Godawari New Energy Private Limited (GNEPL). These moves underline GPIL’s commitment to expansion and sustainable energy solutions with an investment of ₹750 crore.
Financial Performance Highlights
Godawari Power & Ispat Limited (GPIL) has released its standalone unaudited financial results for Q2 2026. Key figures include:
- Total Income: ₹1,257.59 crore
- Profit before exceptional items and tax: ₹312.96 crore
- Net Profit: ₹248.40 crore
These results demonstrate GPIL’s financial strength and operational efficiency during the specified period.
Preferential Allotment of Warrants
The Board approved the allotment of 2,04,08,220 equity warrants on a preferential basis at a price of ₹245 per warrant. This will be convertible into an equal number of equity shares to specified investors. The allotment occurred after receiving ₹1,25,00,03,475, which represents 25% of the total issue price. The remaining consideration will be payable by the warrant holders at the time of conversion.
Key allottees include:
- Mrs. Sarita Devi Agrawal
- Mr. Dinesh Agrawal
- Mr. Kumar Agrawal
Strategic Investments and Expansion
The Board has approved investments of up to ₹300 Crores in Godawari New Energy Private Limited (GNEPL), a wholly-owned subsidiary. This includes existing investments in Equity Shares and a proposed Right Issue Offer by GNEPL for subscription of 12,49,50,000 Non-Cumulative Participating Optionally Convertible Redeemable Preference Shares.
Solar Power Plant Project
GPIL is setting up a 250 MWp Solar Power Plant at Raigarh, Chhattisgarh, at a cost of ₹750 crores to meet the power requirements of its upcoming Cold Rolling Mill project and existing steel plant at Siltara. The project is expected to be commissioned by March 2027, replacing high-cost thermal/grid power.
Source: BSE
