Synopsis:
Ravindra Energy’s associate EIM plans Rs. 1,000 crore phased investment in Pune for EV truck & battery plant and R&D centre; Board also approved up to Rs. 500 crore fundraising via QIP.
Shares of a company selling solar pumps, setting up solar generation power plant & generation and sale of power jumped up to 5 percent on Friday, after MoU plans with the Government of Maharashtra to set up an e-truck and battery assembly plant with an investment of Rs. 1,000 crores.
At 02:28 p.m., the shares of Ravindra Energy Limited were trading in the green at Rs. 143.45 on BSE, up by nearly 4.4 percent, as against its previous closing price of Rs. 137.35, with a market cap of Rs. 2,561.4 crores. The stock has delivered multibagger returns of over 105 percent in the last one year, and has gained by about 6 percent in the last one month.
What’s the News
According to its latest regulatory filings with the stock exchanges, the Board of Ravindra Energy Limited has been informed that its associate entity, Energy In Motion Private Limited (EIM), plans to sign a non-binding Memorandum of Understanding (MoU) with the Government of Maharashtra to explore setting up an electric truck and battery assembly plant, along with a battery R&D centre in Pune. The proposed investment is estimated at around Rs. 1,000 crores, to be executed in multiple phases.
Additionally, the company’s Board has approved fundraising of up to Rs. 500 crores, in one or more tranches and/or issuances, through fully paid-up equity shares, non-convertible debt instruments with warrants, and convertible securities excluding warrants via Qualified Institutions Placement (QIP).
Financials & more
Ravindra Energy reported a significant growth in its revenue from operations, showing a year-on-year increase of around 609 percent from Rs. 23 crores in Q1 FY25 to Rs. 163 crores in Q1 FY26. Similarly, its net profit increased during the same period from Rs. 6 crores to Rs. 23 crores, representing an impressive rise of about 283 percent YoY.
Ravindra Energy Limited is principally engaged in the business of trading, generation & supply of electricity, installation of solar photovoltaic (PV) power pumping systems, and solar generation power plants (ground mount & rooftop).
Written by Shivani Singh
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