Aditya Ultra Steel to Set Up 5 MWp Solar Plant at Jasdan, Rajkot
Aditya Ultra Steel Ltd., a rolled steel products manufacturer, has announced plans to set up a 5 MWp solar plant at its Jasdan, Rajkot factory, with an approximate investment of about INR 15.35 core, to reduce exposure to electricity price fluctuations and enhance sustainability.
November 19, 2024. By Mrinmoy Dey
“The proposed solar power plant by Aditya Ultra Steel Ltd. will have a capacity of 5,000 kWp, aimed at significantly meeting the company’s energy needs while enhancing sustainability and reducing exposure to electricity price fluctuations,” the company informed in a regulatory filing.
It further noted that the company’s revenue from operations stood at INR 312.39 crore in the half year ending September 30, 2024-25. During the same period, operating profit stood at INR 10.50 crore.
Commenting on the development, Sunny Sunil Singhi, Managing Director, Aditya Ultra Steel Ltd. said, “At Aditya Ultra Steel, we believe that innovation, quality, and sustainability are the pillars of our growth. This expansion represents a critical step in our journey towards becoming a global leader in the steel industry.”
He further added, “By investing in cutting-edge technologies and prioritising sustainability, we aim to provide our customers with superior products while making a positive impact on the environment. We are excited about the opportunities this growth will create for our employees, stakeholders, and the communities we serve.”
The company is engaged in the business of manufacturing of rolled steel product i.e. TMT bars under the Kamdhenu brand catering mainly to the construction industry and for infrastructure development. It manufactures TMT bars from billets through reheating furnace and rolling mill.
The company debuted on the NSE SME platform in September after its approximately INR 46 crore IPO. The company reported INR 587.80 crore in revenue and INR 7.69 crore in profit for FY24.
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