Sadhana Nitro Chem Limited, a frontrunner in manufacturing intermediate speciality chemicals, is embarking on a transformative journey into the realm of sustainable energy. The company’s visionary moves towards establishing a green hydrogen facility marks a pivotal step in embracing renewable energy sources for its operations. This strategic initiative is set to revolutionise not only the company’s energy consumption but also the broader landscape of clean energy adoption.
The board’s approval of a rights issue signifies a resolute commitment to harnessing renewable resources for self-sufficient energy production. With an offering of rights shares at an inviting Rs 121 per share, Sadhana Nitro Chem Limited aims to raise nearly Rs 50 crore for its green energy expansion. The primary focus of these funds is to procure a sprawling 126-acre land parcel strategically dedicated to housing solar power facilities and wind energy installations.
The envisioned solar plant and wind farm, with an estimated capacity of 15MW-20MW, epitomize Sadhana Nitro Chem Limited’s shift towards sustainable practices. These installations will spearhead the generation of electricity, essential for the eco-friendly production of green hydrogen via water electrolysis. By utilizing solar and wind power, the company is poised to achieve a critical milestone in minimising its carbon footprint, paving the way for a greener future.
One of the key advantages of this foray into green energy lies in the concept of backward integration. By securing control over its energy supply through renewable sources, Sadhana Nitro Chem Ltd fortifies its operations, ensuring reliability and sustainability. Moreover, any surplus green hydrogen produced will not go to waste but will be available for sale to external parties, further contributing to the broader adoption of clean energy.
Green hydrogen, derived from renewable energy sources through water electrolysis, stands as a beacon of hope in the pursuit of a sustainable energy carrier. Its production method starkly contrasts with traditional methods reliant on fossil fuels, offering an emission-free solution. With Sadhana Nitro Chem Limited’s commitment to harnessing solar and wind power, the entire hydrogen production cycle becomes an emblem of environmental responsibility.
At the beginning of the day, the stock opened at Rs 93.20 per share on the BSE, reaching intraday highs and lows of Rs 98.35 and Rs 90.50, respectively. Finally, it concluded the day at Rs 95.10 per share, representing an impressive rally of 7% today.
The present market capitalisation of the company stands at Rs 2349 crore. Additionally, the stock has generated an impressive multibagger return of over 640% during the past three years.
Established in 1973, Sadhana Nitro Chem Limited is an India-based company engaged in producing intermediate speciality chemicals. The company is primarily involved in the manufacturing of chemical intermediates, heavy organic chemicals, and performance chemicals.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 4, 2023, 5:33 PM IST
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