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ACME Solar ICRA Assigns ‘ICRA AA-/Stable’ Rating to Rs 990 Crore Project

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ICRA has assigned an ‘ICRA AA-/Stable’ rating to the Rs 990 crore long-term bank facilities of ACME Dhaulpur Powertech Private Limited (ADPPL), a subsidiary of ACME Solar. This rating applies to their 300 MW solar power project in Jaisalmer, Rajasthan. The rating is expected to reduce borrowing costs. The plant has been operational since January 2025, achieving a capacity utilization factor (CUF) of 29.05% since commissioning.

ICRA Rating Justification

The ‘ICRA AA-/Stable’ rating assigned by ICRA to ACME Solar’s project is underpinned by several factors, including an experienced sponsor, predictable revenue streams, strong debt coverage metrics, timely payments, and a strong counterparty. The rating reflects ADPPL’s robust operational performance, supported by a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI).

Financial Impact

The rating of ‘ICRA AA-/Stable’ for the Rs 990 crore term loan facility is expected to contribute to a reduction in the cost of borrowings for the project, as per the agreed terms with lenders. This marks the second ‘AA-‘ rating received for the project, adding to the previous rating from CRISIL. The financial arrangement pertains to a 300 MW ISTS solar power project located in Jaisalmer, Rajasthan.

Operational Highlights

The solar power plant has been operational since January 2025 and has achieved a capacity utilization factor (CUF) of 29.05% since it began operations. ICRA anticipates that the competitive project costs, reduced borrowing expenses, and satisfactory generation performance will contribute to robust debt coverage metrics for the project. The stable outlook reflects the steady cash flow predictability from the long-term PPA, satisfactory generation levels, and timely collections from the offtaker.

About ACME Solar

ACME Solar Holdings is a leading integrated renewable energy company with a diversified portfolio including solar, wind, storage, FDRE, and hybrid solutions. The company has an operational capacity of 2,918 MW and a construction capacity of 4,472 MW including 13.5 GWh of BESS installation. With in-house EPC and O&M divisions, ACME Solar manages end-to-end project development, ensuring cost-effective solutions and industry-leading CUF and operating margins.

Source: BSE

Balrampur Chini Mills Board Approves Interim Dividend & ESOP Allotment

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Balrampur Chini Mills (BCML) has announced the board’s approval of an interim dividend of ₹3.50 per equity share. The dividend is set for shareholders as of November 17, 2025, with payment starting December 1, 2025. Additionally, the board has approved the allotment of 6,478 equity shares to employees under its ESOP plan, signaling continued growth and employee engagement.

Interim Dividend Declared

The Board of Directors has declared an interim dividend of ₹3.50 per equity share (₹1 face value), which is 350%. This dividend will be disbursed to shareholders whose names are listed in the Register of Members on November 17, 2025. The dividend payments are scheduled to commence on or after December 1, 2025.

ESOP Allotment Approved

Furthermore, the board has approved the allotment of 6,478 equity shares (₹1 face value) to company employees under the Employee Stock Appreciation Rights (ESOP) plan. This allotment was formalized during the meeting held on November 11, 2025.

Financial Performance Snapshot

For Q2 FY26, Balrampur Chini Mills reported revenue from operations of ₹1670.76 crores. Other income stood at ₹8.73 crores, resulting in total income of ₹1679.50 crores. The company’s net profit after tax for the quarter was ₹53.89 crores. Basic earnings per share stood at ₹2.67, while diluted earnings per share was ₹2.65.

Additional Financial Details

Key financial ratios include a debt-equity ratio of 0.18. The debt service coverage ratio is at 1.01, and the interest service coverage ratio is 8.46. Commercial paper outstanding stands at ₹100 crores.
The figures from the second quarter include a revision in power tariff rates adding approximately ₹17.70 crores under ‘Revenue from operations’ for the period from April 1, 2024 to June 30, 2025

Source: BSE

Jupiter Wagons Unaudited Financial Results for Q2 FY26

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Jupiter Wagons Limited announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025. The company reported a standalone total income of ₹714.75 million for the quarter. Consolidated total income reached ₹796.10 million. The results showcase the company’s financial performance amidst evolving market dynamics.

Standalone Financial Performance

For the quarter ended September 30, 2025, Jupiter Wagons reported standalone revenue from operations of ₹707.25 million, compared to ₹973.63 million in Q2 FY25. Other income stood at ₹7.51 million, bringing the total income to ₹714.75 million. Profit for the period was reported at ₹52.70 million.

For the half year ended September 30, 2025, standalone revenue from operations was ₹1,118.10 million compared to ₹1,868.55 million in the corresponding period of the previous year. Profit for the period stood at ₹85.56 million.

Consolidated Financial Highlights

The consolidated revenue from operations for Q2 FY26 stood at ₹785.85 million, while total income reached ₹796.10 million. Profit before tax was ₹78.28 million. The profit for the period was reported as ₹45.33 million.

For the half year ended September 30, 2025, the consolidated total income was ₹1,272.33 million, with a profit of ₹76.40 million.

Key Balance Sheet Figures

As of September 30, 2025, the company’s standalone total equity was ₹2,794.13 million, and total assets were ₹3,957.49 million. The consolidated total equity reached ₹2,790.90 million with assets totaling ₹4,137.11 million.

Source: BSE

Jupiter Wagons Unaudited Standalone & Consolidated Results for Q2 2026

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Jupiter Wagons Limited has announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025. Standalone profit for the quarter stood at ₹52.70 crore, while consolidated profit reached ₹45.33 crore. The company also reported its comprehensive income for both standalone and consolidated operations.

Financial Performance Overview

Jupiter Wagons Limited reported its unaudited financial results for Q2 2026. Key highlights from the standalone results include:

  • Total Income: ₹714.75 million
  • Profit Before Tax: ₹71.18 million
  • Profit After Tax: ₹52.70 million
  • Total Comprehensive Income: ₹52.29 million

Consolidated Results Highlights

The consolidated financial results provide insights into the overall performance of Jupiter Wagons and its subsidiaries:

  • Total Income: ₹796.10 million
  • Profit Before Tax: ₹78.28 million (before share in net loss of joint ventures)
  • Profit After Tax: ₹45.33 million
  • Total Comprehensive Income: ₹44.88 million

Key Balance Sheet Figures

The company’s standalone balance sheet as of September 30, 2025, shows:

  • Total Equity: ₹2,794.13 million
  • Total Assets: ₹3,957.48 million

Cash Flow Performance

Standalone cash flow from operating activities showed a net cash outflow of ₹70.30 million. Investing activities used ₹38.62 million, while financing activities generated ₹127.89 million.

Source: BSE

Bosch Limited Registers 15.2% Profit Before Tax in Q2 FY 2025-26

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Bosch Limited announced a 9.1% increase in total revenue from operations, reaching INR 4,795 crores for Quarter 2 of FY 2025-26. Profit before tax stood at 15.2% of total revenue. Growth was driven by higher demand in passenger cars and off-highway segments, and the company anticipates healthy demand across components due to the upcoming festive season.

Financial Performance

For Quarter 2 of FY 2025-26, Bosch Limited reported total revenue from operations of INR 4,795 crores, reflecting a 9.1% increase compared to the same quarter last year. The profit before tax (before exceptional items) reached INR 730 crores, which is 15.2% of the total revenue from operations, an increase of 7.9% over the previous year’s quarter. Profit after tax for the quarter stood at INR 554 crores, representing 11.6% of revenue.

Segment Highlights

Overall product sales within the automotive segment increased by 11.9% compared to the same period last year. The Power Solutions business saw a growth of 9.5%, primarily driven by increased demand in the passenger car and off-highway sectors. The 2-Wheeler business experienced substantial growth of 81.8%, mainly due to increased sales of exhaust gas sensors related to the implementation of OBDII norms starting April 1, 2025.

Additional Highlights

Mobility Aftermarket business grew by 3.7%, driven by strong performance in diesel and filter systems. Beyond Mobility business experienced a 14.4% decline in net sales compared to the previous year, primarily due to the sale of the Video solutions, Access and Intrusions and Communication systems business in May 2025.

Company Outlook

The company anticipates continued healthy demand and expressed optimism for the upcoming festive season. With a strong portfolio and customer-centric approach, Bosch Limited is well-positioned to leverage future opportunities.

Source: BSE

NMDC Board to Consider Interim Dividend for Financial Year 2025-26

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The Board of Directors of NMDC is set to convene on Friday, November 14, 2025, to consider a proposal for the declaration of the 1st Interim Dividend for the financial year 2025-26. The trading window for company insiders has been closed and will remain closed until 48 hours after the board meeting on November 16, 2025.

Interim Dividend Announcement

NMDC Limited has announced that a Board Meeting will be held to discuss and approve the declaration of an interim dividend.

Board Meeting Details

The Board of Directors meeting is scheduled for Friday, November 14th, 2025. The primary agenda is to deliberate on the proposal for the declaration of the 1st Interim Dividend for the financial year 2025-26.

Trading Window Closure

In compliance with insider trading regulations, the trading window for dealing in the company’s securities has been closed for all insiders, including designated persons and their immediate relatives. This closure took effect immediately and will continue until 48 hours after the Board Meeting concludes, specifically until November 16th, 2025. This measure ensures fair and transparent trading practices during the sensitive period of dividend consideration.

Source: BSE

Bosch Limited Profit Before Tax Up 7.9% in Q2 FY 2025-26

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Bosch Limited has announced its financial results for Q2 FY 2025-26, reporting a 9.1% increase in total revenue from operations to INR 4,795 crores. The company’s Profit Before Tax (before exceptional items) stood at INR 730 crores, representing a 7.9% increase over the same quarter last year. This growth was driven by higher demand in passenger cars and off-highway segments.

Financial Performance

Bosch Limited announced a total revenue from operations of INR 4,795 crores for Q2 FY 2025-26, a 9.1% increase compared to the same quarter of the previous year. Profit Before Tax (before exceptional items) reached INR 730 crores, marking a 7.9% increase. Profit After Tax stood at INR 554 crores. These results were driven by strong demand in the automotive sector.

Segment Performance

The automotive segment experienced a significant boost, with overall product sales increasing by 11.9% compared to the same quarter last year. Power Solutions also contributed to the positive results, growing by 9.5% due to increased activity in the passenger car and off-highway segments.

Key Business Updates

The company’s 2-Wheeler business demonstrated substantial growth, increasing by 81.8%, primarily attributed to higher sales of exhaust gas sensors related to the implementation of OBDII norms. The Mobility Aftermarket business also showed positive momentum, growing by 3.7%, supported by strong performance in diesel and filter systems. The Beyond Mobility business declined by 14.4%.

Source: BSE

Minda Corporation Strong Q2 FY26 Performance Driven by EV and Premium Products

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Minda Corporation reported a strong performance in Q2 FY26, achieving its highest-ever quarterly revenue of ₹1,535 crore, a 19% year-over-year growth. The company’s EBITDA reached ₹178 crore with a margin of 11.6%. Growth was fueled by sustained demand, increased market share, and strong traction in EV and premium product categories. Minda has secured its first sunroof order and maintains a positive outlook, driven by government initiatives and strategic investments.

Financial Highlights

Minda Corporation showcased robust financial results for Q2 FY26:

  • Revenue: Achieved a record ₹1,535 crore, marking a 19% year-over-year increase.
  • EBITDA: Reached ₹178 crore, a 21.4% increase year-over-year, with an 11.6% margin.
  • Profit After Tax: Stood at ₹85 crore, reflecting a 14% year-over-year growth.

For the first half of FY26, the company also saw substantial growth:

  • Revenue increased by 18%.
  • EBITDA grew by 20%.
  • PAT increased by 8%.

Key Growth Drivers

The company’s strong performance was underpinned by several factors:

  • Sustained demand across key vehicle segments.
  • Increase in business market share.
  • Growth in content per vehicle and strong EV traction.
  • Premium product categories gaining momentum.

Strategic Developments

Minda Corporation is focused on several strategic initiatives:

  • R&D Investments: Investing approximately 3% to 3.5% of revenue in R&D to advance technological capabilities.
  • EV Market Expansion: Committed to expanding its presence in the EV market through strategic partnerships and product development.
  • Localization: Scaling domestic manufacturing and localizing key components to strengthen the supply chain.

Order Wins & New Products

The company reported significant order wins and product launches:

  • Sunroof Order: Secured its first sunroof order from a leading OEM, with SOP planned for Q1 FY27.
  • EV Wiring Harness: Received a high-voltage EV wiring harness order from a leading OEM.
  • TFT Cluster: Won an order for TFT clusters from a leading OEM.
  • Switches: Toyodenso joint venture secured a significant order for switches, with operations planned to commence in Q4 FY27.

Flash Electronics Performance

Associate company, Flash Electronics, also delivered a strong performance in Q2 FY26:

  • Revenue: ₹446 crore
  • EBITDA: ₹72 crore with a margin of 16.1%.

Debt Position

  • Net debt stands at ₹1,165 crore.
  • Net debt-to-equity ratio is about 0.5.
  • Rating: AA stable from India rating.

Source: BSE

Hindustan Copper Unaudited Financial Results for Q2 Ended September 30, 2025

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Hindustan Copper Limited announced its unaudited standalone and consolidated financial results for the quarter ended September 30, 2025. The company reported a standalone total income of ₹728.95 crore and a net profit of ₹186.02 crore for the quarter. Consolidated total income stood at ₹728.95 crore with a net profit of ₹183.79 crore. Earnings per share (EPS) for continuing operations stood at ₹1.92 for standalone and ₹1.89 for consolidated results.

Financial Performance

Hindustan Copper Limited (HCL) has released its unaudited financial results for Q2 of FY26, ending September 30, 2025. The results, reviewed and approved by the Board of Directors on November 11, 2025, showcase the company’s performance during the quarter.

Standalone Financial Highlights

The standalone results reveal the following key figures:

  • Revenue from Operations: ₹718.04 crore
  • Other Income: ₹10.91 crore
  • Total Income: ₹728.95 crore
  • Profit Before Tax: ₹248.63 crore
  • Net Profit After Tax: ₹186.02 crore
  • Earnings Per Share (EPS): ₹1.92

Consolidated Financial Highlights

The consolidated results, including its subsidiary and joint venture, show the following:

  • Revenue from Operations: ₹718.04 crore
  • Other Income: ₹10.91 crore
  • Total Income: ₹728.95 crore
  • Profit Before Tax: ₹248.63 crore
  • Net Profit After Tax: ₹183.79 crore
  • Earnings Per Share (EPS): ₹1.89

Other Key Points

The company’s report included an auditor’s report that draws attention to the absence of independent directors and a woman director, contravening Companies Act stipulations. Hindustan Copper’s operations involve copper ore mining and processing, categorized as a single segment according to accounting standards. A joint venture company, Chhattisgarh Copper Limited (CCL), exists with Chhattisgarh Mineral Development Corporation Limited (CMDC).

Source: BSE

Hindustan Copper Reports Unaudited Financial Results for Q2 2026

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Hindustan Copper Limited has announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025. The company reported a total income of ₹728.95 crore for the quarter. Earnings per share (EPS) stood at ₹1.92. The board approved these results on November 11, 2025. The financial review was conducted by the statutory auditors.

Financial Performance Overview

Hindustan Copper Limited announced its unaudited financial results for the second quarter (Q2) of FY26. Key highlights from the standalone results include:

  • Total Income: ₹728.95 crore
  • Profit before tax: ₹248.63 crore
  • Net Profit: ₹186.02 crore
  • Earnings Per Share: ₹1.92

Key Financial Data (Consolidated)

The consolidated financial results provide a broader view of the company’s performance, incorporating its subsidiary and joint venture. Significant figures include:

  • Total Income: ₹728.95 crore
  • Profit before tax: ₹248.63 crore
  • Net Profit: ₹183.79 crore
  • Earnings Per Share: ₹1.89

Independent Auditor’s Report

The financial results have undergone a limited review by P. A. & Associates, Chartered Accountants. Their report indicates that the financial statements are prepared in accordance with applicable Indian Accounting Standards. The auditors have also raised some matters regarding Independent Directors and Woman Director.

Standalone Assets and Liabilities

As of September 30, 2025, Hindustan Copper’s standalone assets and liabilities position is as follows:

  • Total Assets: ₹3862.82 crore
  • Total Equity: ₹2987.50 crore

Consolidated Assets and Liabilities

The consolidated assets and liabilities give a group-level perspective:

  • Total Assets: ₹3857.18 crore
  • Total Equity: ₹2981.86 crore

Cash Flow Highlights

Key figures from the standalone cash flow statement for the half-year ended September 30, 2025:

  • Net cash from operating activities: ₹428.24 crore
  • Net cash used in investing activities: ₹(219.32) crore
  • Net increase in cash and cash equivalents: ₹182.78 crore

Source: BSE

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