Latest news with #TOPCon
Mint
a day ago
- Business
- Mint
Foreign investors stocked up on these three mid caps in Q1. Should you?
The April-June quarter brought interesting news for the Indian stock market as foreign institutional investors (FIIs) increased their stakes in several Indian companies. Foreign flows into the Indian market often signal confidence in the country's long-term growth. What's particularly noteworthy is that FIIs invested in diverse sectors including renewable energy, defence, shipbuilding and financial services in Q1. In this piece, we'll dive into three mid cap stocks that saw notable FII buying during the quarter. #1 Premier Energies Ltd Premier Energies is a solar manufacturing powerhouse that's been quietly building its empire since 1995. What makes it stand out is its scale and focus on technology. With a massive 2 GW of capacity for solar cells and 5.1 GW for solar modules, it is equipped to handle high volume. The company's automated production lines achieve an impressive 23.2% cell efficiency. It is also future-ready, planning to introduce advanced TOPCon cell technology. Most of the company's revenue comes from India's booming domestic solar market, which fits perfectly with the government's ambitious renewable energy targets. FIIs' shareholding jumped from about 3% in March to 4.38% in June – a 46% increase in just one quarter. This isn't just a random buying; it shows the company's strong financial performance and expansion plans caught investors' attention. Another important aspect of Premier Energy is its backwards integration strategy. It's setting up a 2-GW solar wafer plant through a joint venture, essentially controlling more of its supply chain. The company's revenue increased 109.76% in FY25 and net profit surged 305%. The Ebidta margin expanded to 28.78% from 15.93% in FY24. This performance was due to India's booming solar demand and the company's growing manufacturing capacity. The company also has a massive order book worth ₹84,456 crore (5.303 MW of capacity), mainly comprising domestic orders, which provides strong revenue visibility. #2 Indian Renewable Energy Development Agency Ltd IREDA is a financial institution focussed on India's clean-energy transition. Established in 1987 as a non-banking financial Institution under the ministry of new and renewable energy, IREDA has spent more than three decades funding renewable energy projects across India. What makes IREDA attractive is its position as the government's primary vehicle for financing India's ambitious renewable energy goals. The company recently achieved a significant milestone in operational autonomy, giving it more freedom to take strategic decisions and expand operations. Foreign investors clearly see IREDA's long-term potential. Their shareholding jumped from 1.75% in March to 2.04% in June – a 38.80% increase – despite weak financials. This suggests FIIs are looking beyond quarterly fluctuations and focusing on IREDA's strategic importance. A key factor that boosted investors' confidence was the recent policy support for IREDA's bonds. The government granted tax-saving status to IREDA bonds under Section 54EC, making them attractive for investors looking to save on capital gains tax. This regulatory backing not only broadens IREDA's investor base but also ensures more consistent and lower-cost capital inflows, strengthening its ability to fund renewable energy projects efficiently. IREDA reported mixed financial results in Q1FY26, with revenue from operations growing 29% year-on-year but net profit declining 36% year-on-year, reflecting operational challenges. IREDA's outstanding loan book grew 26%, while new sanctions jumped 36%. Other key developments, such as ₹2,010-crore fundraise through a qualified institutional placement (QIP), the launch of perpetual bonds worth ₹1,270 crore, and maintaining a healthy margin with a 9.95% yield on loan assets and a 3.60% net interest margin, underscored its role as India's premier renewable-energy financier. #3 Garden Reach Shipbuilders & Engineers Ltd Garden Reach has over six decades of experience in building naval and commercial vessels. Based in Kolkata, It's a government-owned company that has been the backbone of India's maritime defence capabilities since it was nationalised in 1960. It holds the distinction of being the first Indian shipyard to build 100 warships. In 2006 GRSE received Miniratna status, which enhanced its financial and operational autonomy. The company's portfolio spans guided-missile frigates, corvettes, fleet tankers, fast patrol vessels, amphibious warfare vessels for naval applications, and commercial vessels such as research ships, dredgers and tugboats. Beyond shipbuilding, the company also operates engineering and engine divisions, positioning itself as a comprehensive maritime solutions provider in India's expanding defence sectors. Foreign investors seem bullish about GRSE's long-term prospects, with their shareholding increasing 46% from 3.84% in March to 5.33% in June. GRSE's strategic diversification into commercial shipbuilding adds another layer of attraction. The company has secured an order from German clients and signed an MoU for India's first polar research vessel. This diversification reduces dependence on government contracts while positioning GRSE in high-margin, specialised segments with significant export potential. The company delivered strong results in FY25, with revenue from operations increasing 41% year–on-year. Net profit surged 46% while the operating margin remained around 13%. In Q4 FY25, revenue jumped 62% quarter-on-quarter and net profit increased 118%. A significant business development was the ₹430-crore provision write-back from the P-17 Alpha project, reflecting the company's improved cost visibility as the first ship nears delivery. GRSE's order book stands at ₹22,860 crore, providing strong revenue visibility. The company aims to expand capacity from 24 to 28 ships this year, positioning itself for major upcoming defence contracts worth ₹40,000 crore. Conclusion Buying patterns show FIIs are investing in India's structural transformation and not just looking at companies' financials. Despite the mixed quarterly results of the above companies, FII continued to increase their stakes, demonstrating their confidence in the long-term growth of sectors such as renewable energy, defence indigenisation, and financial inclusion. While short-term volatility may continue because of project execution cycles and operational adjustments, the underlying fundamentals of these companies remain robust. For retail investors, FII activity can serve as a valuable signal about India's growth trajectory. However, success will depend on the efficient execution of expansion plans, continuing policy support, and an ability to translate strategic positioning into sustained financial performance. Happy investing! Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
Time of India
4 days ago
- Business
- Time of India
Nearly 70% of Rajasthan's power capacity comes from renewable energy: Pralhad Joshi
New Delhi: Almost 70 per cent of Rajasthan's power capacity is now sourced from renewable energy, with over 35.4 gigawatts installed, 29.5 gigawatts from solar and 5.2 gigawatts from wind, according to Union Minister for New and Renewable Energy, Pralhad Joshi . The state is now a beacon of hope, energy independence, and self-reliance, said the minister while inaugurating the 435 megawatt Gorbea Solar Power Project , developed by Zelestra India, in Rajasthan. He described the Gorbea project as a shining example of what is possible through visionary leadership and honest intent. "With every megawatt we generate, we are not just producing power, we are building a New India," he remarked, adding that the project reflects the speed and scale of change. The Gorbea Solar Power Project, delivered in under eight months, spans 1,250 acres and is backed by a 25 year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India. It will generate 755 gigawatt hours of clean electricity annually, powering approximately 1.28 lakh homes and reducing nearly 7.05 lakh tonnes of carbon emissions each year. The minister highlighted that the project has turned farmers into partners in India's energy journey, as the land used has been leased from them, offering stable income. "Our farmers are no longer just food providers. They are now energy providers as well," he said. During construction, over 700 local workers were employed, contributing to livelihood generation and skill development. Joshi also noted that the entire evacuation infrastructure, including the on-site substation and a 6.5 kilometre transmission line, was completed in just five months. The project uses advanced solar panels (TOPCon bifacial mono PERC modules) and over 1300 robotic cleaning units to maintain peak performance. Joshi called this a world-class facility and urged broader adoption of such technologies. Referring to his visit to IIT Bombay, the Minister spoke about ongoing work on Perovskite Tandem Solar Cells and encouraged Zelestra and Rajasthan officials to explore pilot projects using this next-generation solar technology. He said such innovations could significantly boost energy yields in high-irradiance states like Rajasthan. Under the PM Surya Ghar Muft Bijli Yojana , over 49,000 rooftop installations have been completed in Rajasthan, with more than Rs 325 crore in subsidies disbursed. He urged faster implementation, given the 2.7 lakh applications already received. Under PM-KUSUM, nearly 1.45 lakh solar pumps have been installed. The minister said that India has already achieved its target of 50 percent installed capacity from non-fossil fuel sources, five years ahead of the 2030 deadline. -IANS na/
Time of India
6 days ago
- Business
- Time of India
UP nod to Rs8k cr solar park
Noida: Yamuna Expressway Industrial Development Authority (YEIDA) is planning to set up a solar plant on 200 acres in Sector 8 along the Yamuna Expressway. The state govt has approved a proposal by SAEL Solar P6 Private Limited to set up an integrated facility with a manufacturing capacity of 5 GW solar cells and 5 GW solar modules. Tired of too many ads? go ad free now The project will come up at an estimated cost of Rs 8,200 crore. SAEL Industries Limited, the parent company, is an integrated renewable energy firm that deals in providing affordable, sustainable, and clean energy. The integrated solar manufacturing project, being executed by its subsidiary Sael Solar P6 Pvt Ltd, will increase the company's total solar module manufacturing capacity to 8.5 GW. The plant will produce tunnel oxide passivated contact (TOPCon) solar cells, which will be assembled into solar panels on an in-house module manufacturing line. According to a YEIDA official, the project has been classified under the ultra mega category, reserved for investments of Rs 3,000 crore or more. "This will be a completely new greenfield project in the area and is among the largest investments received so far," the official added. On Feb 24, YEIDA issued a Letter of Intent (LOI) to the company and forwarded the proposal to the state govt. On July 10, Invest UP granted a Letter of Comfort approving the proposal, after which YEIDA expedited the land allotment process and is expected to formally hand over the 200-acre plot within this month. Company representatives have already visited the YEIDA office to discuss documentation and other formalities, officials said. "This project is expected to give a major boost to the solar sector and generate employment for around 2,500 people in the region. The state govt has started the process to allot land based on the Letter of Comfort issued," said a YEIDA official. SAEL Solar currently has over 6.7 GW of solar projects across India, including both operational and under construction, and an existing capacity to manufacture 3.5 GW of TOPCon solar modules. The integrated facility in Yamuna City will manufacture solar cells, which use photovoltaic technology to directly convert sunlight into electricity, starting from silicon wafers with specialised coatings and electrodes.
Time of India
14-07-2025
- Business
- Time of India
SAEL Industries to invest ₹8,200 crore in Greater Noida solar unit
New Delhi: SAEL Industries said on Monday that it will invest around ₹8,200 crore to set up a facility with a 5 GW solar cell manufacturing unit and a 5 GW module manufacturing line in Greater Noida. The integrated solar manufacturing project , being executed by subsidiary SAEL Solar P6 Pvt Ltd, will take the company's total solar module manufacturing capacity to 8.5 GW. The plant will produce tunnel oxide passivated contact (TOPCon) solar cells which will be assembled into solar panels at in-house module manufacturing line, the company said. SAEL is keen on backward integration to support its solar power business and the domestic solar value chain , it said. It has more than 6.7 GW of solar power assets that include operational and under-construction projects in India. It has a 3.5 GW TOPCon module assembly capacity.
Time of India
14-07-2025
- Business
- Time of India
SAEL to invest ₹8,200 crore in 10 GW solar manufacturing facility in Greater Noida
New Delhi: SAEL Industries Limited, through its subsidiary SAEL Solar P6 Private Limited, will invest ₹8,200 crore to establish an integrated solar cell and module manufacturing facility under the Yamuna Expressway Industrial Development Authority (YEIDA), taking the company's total solar manufacturing capacity to 8.5 GW. The plant, to be located in Greater Noida , will include a 5 GW solar cell manufacturing unit and a 5 GW module manufacturing line. Construction of the facility is scheduled to begin in 2024. Uttar Pradesh Chief Minister Yogi Adityanath handed over the Letter of Comfort to SAEL Director and Co-Founder Sukhbir Singh Awla. 'Uttar Pradesh is charting a bold and aggressive path towards renewable energy, setting an ambitious target of generating green energy. Projects like the one undertaken by SAEL's ₹8,000 crore are vital to achieving this. This is the future, and Uttar Pradesh is ready to lead," the Chief Minister said. Commenting on the project, Sukhbir Singh Awla said, 'We thank the Government of Uttar Pradesh for entrusting and facilitating SAEL Industries Ltd. to establish a solar manufacturing facility . This facility will be a major leap for scaling our manufacturing capabilities and reinforcing our contribution to the future of solar manufacturing in India.' The upcoming plant will manufacture Tunnel Oxide Passivated Contact (TOPCon) solar cells. These will be assembled into modules at the in-house line. The project supports SAEL's backward integration strategy to serve its solar Independent Power Producer (IPP) business and contribute to the domestic solar value chain. SAEL has a total of 6.7+ GW of Solar IPP assets, including operational and under-construction projects across India. The company already has a 3.5 GW TOPCon module assembly capacity—3.2 GW in Rajasthan and 300 MW in Punjab.
