Godawari Power & Ispat (GPIL) announced board approval for key initiatives, including setting up a 250 MWp Solar Power Plant, investments in Godawari New Energy Private Limited (GNEPL), and allotment of equity warrants. The board also approved the unaudited financial results for the quarter ended September 30, 2025. These strategic decisions underscore the company’s commitment to growth and sustainability.
Solar Plant Project
GPIL will set up a 250 MWp Solar Power Plant at Raigarh, Chhattisgarh. The solar plant aims to meet the power requirements of the upcoming Cold Rolling Mill project and existing steel plant at Siltara, replacing high-cost thermal/grid power. It is expected to be commissioned by March 2027.
Investment in Subsidiary
The board approved investments up to Rs. 300 Crores in Godawari New Energy Private Limited (GNEPL), a wholly-owned subsidiary. This includes existing investments in equity shares of GNEPL and a proposed Rights Issue Offer by GNEPL for subscription of 12,49,50,000 non-cumulative preference shares. The funds will support capex and working capital for setting up a Battery Energy Storage System Plant.
Warrant Allotment
The board has allotted 2,04,08,220 equity warrants on a preferential basis at a price of Rs 245 per warrant. These warrants are convertible into an equal number of equity shares to specified investors on a private placement basis. Rs. 1,25,00,03,475 (25% of the total issue price) has been received from the proposed allottees.
Financial Performance: Q2 2026
The company’s standalone unaudited financial results for the quarter ended September 30, 2025, showcased a profit from ordinary activities before exceptional items and tax of Rs 312.96 Crores. Revenue from operations was reported as Rs 1,142.57 Crores.
Key Allottees of Equity Warrants
Significant allottees include:
- Mrs. Sarita Devi Agrawal: 41,63,300 Warrants
- Mr. Dinesh Agrawal: 12,24,500 Warrants
- Mr. Kumar Agrawal: 22,04,200 Warrants
Source: BSE