Godrej Industries Ltd., a constituent of the Godrej Group—a well-established Indian conglomerate with over a century of history—operates in a variety of sectors including chemicals, consumer products, real estate, agriculture, and financial services.
Godrej Industries has acquired a 26% share in Clean Max Kaze Pvt., a subsidiary of Clean Max Enviro Energy Solutions. The company purchased 2,600 shares for ₹26,000 and intends to invest an additional ₹7.59 crore through a rights issue by January 31, 2025. This investment was disclosed in an exchange filing on December 12, 2024.
The purpose of this investment is to establish a renewable energy project, enabling the company to utilise alternative hybrid renewable energy sources—wind and solar—at its Valia facility in Gujarat. Consequently, Godrej Industries is set to reduce costs while benefitting from “green power” at rates more favourable than those of the conventional power grid.
In May, the board of the Godrej Group company sanctioned an investment of up to ₹10 crore, which may be executed through subscription, purchase, or other means in Clean Max Kaze/Clean Max Enviro or any other organisation and/or corporate entity, as per the Gujarat Renewable Energy Policy.
Clean Max Kaze Private Limited is a renewable energy firm established on September 19, 2022, operating in the energy and power sector, with its headquarters in Mumbai, Maharashtra. The company operates as a subsidiary of Clean Max Enviro Energy Solutions and aligns itself with initiatives such as the Gujarat Wind-Solar Hybrid Policy of 2018, aimed at advancing green energy through affordable solutions.
Godrej Industries Ltd. announced impressive financial results for Q2 FY25, posting a consolidated net profit of ₹288 crore, reflecting a remarkable 229% increase year-on-year (YoY) from ₹87 crore recorded in Q2 FY24. The company’s revenue rose by 22% YoY to ₹4,805 crore, buoyed by growth across its various segments.
EBITDA soared by 116.5% YoY, reaching ₹575 crore, with the EBITDA margin improving to 12% from 6.7% in the corresponding quarter last year. However, when compared to the previous quarter, net profits saw a decline of approximately 10.8%.
As of December 13, 2024, at 09:17 AM, Godrej Industries Ltd. share price was ₹1071.50 traded in NSE.
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 13, 2024, 2:09 PM IST
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