On Friday at 11:48 a.m., the waste management company that offers water and environmental solutions was trading in the green at Rs. 362.2, up 0.1%. The company signed a Memorandum of Understanding (MoU) with Greenzo Energy India Limited.
With a market cap of Rs. 449.2 crore, the shares of Felix Industries Ltd. opened at Rs. 361.0 on February 23rd, compared to its previous close of Rs. 361.65.
According to recent NSE filings, Felix Industries Limited has entered into a Memorandum of Understanding (MoU) with Greenzo Energy India Limited.
The companies have signed an MoU to collaborate on technology development and execution for green hydrogen and solar projects.
The purpose of this agreement is to utilise each other’s expertise and resources to enhance the research, development, and implementation of technologies related to green hydrogen production and solar energy generation.
Additionally, Felix Industries plans to construct facilities near steel plants or current clients to provide power, hydrogen and water solutions via a modular system.
Greenzo Energy will serve as a consultant and contractor for the development of these projects, offering guidance and expertise in the implementation of sustainable energy solutions, as well as expertise in hydrogen production technologies and innovative solutions for efficient solar energy utilisation.
The initial phase of the MoU would focus on a 5 MW target, and the project will require an investment of Rs. 100-150 crores.
In terms of financials, the revenue from operations of Felix Industries increased by 24.21% YoY from Rs. 9.5 crore in Q2 FY22-23 to Rs. 11.8 crore in Q2 FY23-24, accompanied by an increase in net profit by 19.7% to Rs. 0.97 crore in Q2 FY23-24 from Rs. 0.81 crore in Q2 FY22-23.
Felix Industries Limited is an environmental conservation company located in Ahmedabad, Gujarat, with the objective of ‘Recycle-Reuse-Recover-Reduce’.
The company’s strategy is to recycle waste water, reuse it, recover products, and reduce effluents, as well as to take advantage of any opportunity that allows for water processing, purification, and recycling to ensure water sufficiency for future generations.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
