1. 27 MWp captive solar plant commissioned - The 20.7 MWp AC / 27 MWp DC captive solar plant at Rajnandgaon was commissioned and grid-synchronised on 21 May 2026, joining the existing 4 MWp plant commissioned in June 2024. At a project cost of ₹85 crore funded from internal accruals and bank lines, the plant replaces purchased grid power for the ferroalloy furnaces, directly widening operating margins from the first full quarter of operation.
2. 6 MWp solar addition nearing completion - A further 4.4 MWp AC / 6 MWp DC captive solar plant is under active implementation, with commissioning expected on or before 31 May 2026, which would take aggregate installed solar capacity to approximately 28.35 MWp AC / 37 MWp DC. Each incremental megawatt of captive solar shrinks the power-cost line item that currently consumes a large share of revenue, lifting EBITDA without requiring additional alloy volumes.
3. ₹25.4 crore warrant issue funds capex - The preferential issue of equity share warrants to non-promoter investors raised ₹25.42 crore, with the objects of the issue including capital expenditure for solar plant equipment and working capital needs. The infusion funds the ongoing solar build-out and any near-term furnace debottlenecking without adding debt, preserving the company’s low-leverage balance sheet.