Latest news with #ShivBansal
Business Standard
12-06-2025
- Business
- Business Standard
SG Mart secures orders worth Rs 266 cr
For supply of solar module mounting structures under brand name 'APL Apollo SunSteel' SG Mart has successfully marked its entry into the renewable energy sector by launching the supply of solar module mounting structures, under the brand APL Apollo SunSteel. In a significant milestone, the company has already received confirmed orders amounting to Rs. 266 crore (excluding GST), from multiple Independent Power Producers (IPPs), signalling strong market acceptance of its new product line. To meet the rising demand for solar mounting solutions, driven by India's renewable energy ambitions, the company is leveraging its robust sourcing and distribution network. Supplies have commenced, and deliveries for initial orders are underway. We are receiving an encouraging response from IPPs and EPC contractors across the country. The demand momentum validates our decision to diversify into the renewable space, said Shiv Bansal, Joint Managing Director of SG Mart. Supported by SG Mart's strength of steel procurement, which is a raw material for solar structures, and pan-India distribution, we are well positioned to scale this segment rapidly.
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Business Standard
12-06-2025
- Business
- Business Standard
SG Mart enters renewables with solar brand, wins ₹266 crore orders
SG Mart, a prominent player in the B2B construction materials sector, has forayed into the renewable energy space by launching the supply of solar module mounting structures, the firm said in a filing. The company's solar venture has been launched under the brand name APL Apollo SunSteel. The firm said it has already secured confirmed orders worth ₹266 crore from several independent power producers (IPPs), which points to the robust market acceptance of its new offering. In order to meet the ever-growing demand for solar mounting solutions, driven by India's renewable energy targets, SG Mart is harnessing its strong sourcing and distribution capabilities to scale its solar mounting solutions business, the company said in the filing. Notably, deliveries for initial orders have already commenced. 'We are receiving an encouraging response from IPPs and EPC contractors across the country. The demand momentum validates our decision to diversify into the renewable space,' said Shiv Bansal, Joint Managing Director of SG Mart. 'Supported by SG Mart's strength in steel procurement, which is a raw material for solar structures, and pan-India distribution, we are well positioned to scale this segment rapidly,' he added. This move is in line with SG Mart's vision to diversify into high-growth sunrise sectors, while capitalising on its strong steel procurement capabilities and longstanding relationships with IPPs, EPC contractors and other key players in the infrastructure value chain.
Business Standard
12-06-2025
- Business
- Business Standard
SG Mart forays into renewable energy sector with launch of APL Apollo SunSteel
SG Mart has announced its entry into the renewable energy sector with the launch of solar module mounting structures under the brand APL Apollo SunSteel. Marking a significant milestone, the company has already secured confirmed orders worth Rs 266 crore (excluding GST) from multiple Independent Power Producers (IPPs), reflecting strong market acceptance of its new product line. To meet growing demand fueled by Indias clean energy ambitions, SG Mart is leveraging its extensive sourcing and distribution network. The company has commenced supply, and deliveries for initial orders are already underway. This strategic move aligns with SG Marts broader vision to diversify into sunrise sectors. The company aims to capitalize on its strong steel procurement capabilities and longstanding relationships with IPPs, EPC contractors, and key infrastructure ecosystems. Shiv Bansal, joint managing director of SG Mart, said, We are receiving an encouraging response from IPPs and EPC contractors across the country. The demand momentum validates our decision to diversify into the renewable space. Supported by SG Mart's strength in steel procurement, which is a raw material for solar structures, and pan-India distribution, we are well positioned to scale this segment rapidly. SGMART is a premier B2B one-stop shop that provides a wide range of construction-related solutions from top brands under one roof. Its extensive network, with strategically positioned warehouses in Pune, Bangalore, Dujana, and Raipur, ensures seamless accessibility and efficient distribution of remarkable products to its valued customers. The company's consolidated net profit slipped 1.2% to Rs 33.14 crore in Q4 FY25 as against Rs 33.55 crore recorded in Q4 FY24. However, revenue from operations surged 24.9% YoY to Rs 1,595.03 crore in Q4 FY25. The scrip declined 2.76% to Rs 411.70 on the BSE.
