Category: All News

Fujiyama Power Systems Limited (“Fujiyama” or the “Company”) (BSE: 544613 | NSE: UTLSOLAR), one of India’s leading providers of rooftop solar solutions, offering an extensive portfolio across solar panels, inverters, lithium-ion batteries, chargers and power electronics systems, has announced its unaudited financial results for the quarter ended 30^th June 2026.

For Q1 FY27, the company reported a strong year-on-year improvement in operating performance, with revenue from operations rising 125.3% to ₹1,345.7 crore, compared with ₹597.3 crore in Q1 FY26. EBITDA increased by 140.6% to ₹254.8 crore from ₹105.9 crore, while the EBITDA margin improved to 18.9% from 17.7%. On a quarter-on-quarter basis, revenue grew 49.4% from ₹900.8 crore in Q4 FY26, while EBITDA increased 48.6% from ₹171.5 crore.

Reported PAT, however, declined 14.5% year-on-year to ₹57.8 crore from ₹67.6 crore and fell 45.6% sequentially from ₹106.3 crore, primarily impacted by the Bawal fire loss provision of ₹107.4 crore, net of tax. Excluding this provision, normalised PAT stood at ₹165.2 crore, registering a 144.5% year-on-year growth and a 55.4% quarter-on-quarter increase. The normalised PAT margin improved to 12.3%, compared with 11.3% in Q1 FY26 and 11.8% in Q4 FY26.

Key Business Highlights:
•     Commissioned 2,000 MW solar panel manufacturing capacity at Ratlam, Madhya Pradesh in Q1 FY27
•     Commissioned 2,000 MW Power Electronics manufacturing capacity at Ratlam in August 2026
•     The 2,000 MW Lithium-ion battery manufacturing capacity at Ratlam is expected to be commissioned by Q2 FY27
•     Setting up a 1,200 MW solar cell manufacturing facility at Ratlam with an investment of around Rs. 350 crore

Commenting on the performance Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, said, “The first quarter of FY2027 marked a positive start to the year for Fujiyama, with higher business scale, continued expansion of the distribution network and progress across the Company’s manufacturing initiatives. The demand environment for residential rooftop solar and power backup solutions remains favourable, supported by increasing solar adoption, policy initiatives and growing awareness across Tier 2 and Tier 3 markets. In this environment, the Company remained focused on expanding its reach, increasing manufacturing capacity and building greater integration across the solar value chain.

Revenue from Operations increased by 125.3% YoY to Rs. 13,457 million. EBITDA grew by 140.6% YoY to Rs. 2,548 million, while EBITDA margin improved to 18.9% compared with 17.7% in Q1 FY2026. The improvement in profitability was supported by the higher scale of operations and increasing contribution from the Company’s backward integrated manufacturing platform. The performance during the quarter also reflects the growing reach of Fujiyama’s product portfolio and its ability to serve rising demand across its key markets.

The distribution network recorded one of its largest quarterly expansions during Q1 FY27. The Company added more than 80 distributors, over 1,000 dealers and more than 30 exclusive Shoppes. This took the total channel partner base to over 10,100 as of June 30, 2026. The wider network gives Fujiyama greater access to customers across different markets and supports faster product availability, installation and after sales service. This remains particularly important in the residential rooftop solar segment, where proximity to customers and dependable service are important factors in purchase decisions.

On the manufacturing front, the Company commissioned its 2,000 MW solar panel manufacturing facility at Ratlam during Q1 FY27. This was followed by the commissioning of the 2,000 MW power electronics manufacturing facility in August 2026. With these additions, the Company’s total solar panel and power electronics manufacturing capacities have increased to 3,568 MW and 4,180 MW, respectively.

Furthermore, the 2,000 MW lithium-ion battery manufacturing capacity at Ratlam is also on track for commissioning by Q2 FY27. Once completed, the Ratlam complex will bring solar panels, power electronics and batteries under one manufacturing location, further strengthening integration across the Company’s product portfolio and supporting its growing scale of operations.

The Company also took another step towards increasing backward integration during the quarter by approving the acquisition of an additional 31% stake each in Zayo Energy Private Limited and Zayo Cables Private Limited, taking Fujiyama’s shareholding in both companies from 19% to 50%. Zayo Energy is engaged in manufacturing solar module components like aluminum frame, PV Ribbon wire, busbar and solder wires, while Zayo Cables is engaged in manufacturing solar module components like PV junction box, solar cables and EVA sheet. These businesses are closely linked to Fujiyama’s existing product portfolio. The investments are intended to increase backward integration, strengthen the value chain and provide greater control over components used across the Company’s solar power solutions business.

Looking ahead, the opportunity in residential rooftop solar remains favourable, supported by government initiatives, rising consumer awareness and increasing adoption. The Company’s focus will remain on ramping up the newly commissioned capacities, expanding market reach and improving integration across operations. We remain committed to providing dependable, high quality solar solutions and creating long term value for all stakeholders.”

Fujiyama Power Systems Limited (“Fujiyama” or the “Company”) (BSE: 544613 | NSE: UTLSOLAR), one of India’s leading providers of rooftop solar solutions, offering an extensive portfolio across solar panels, inverters, lithium-ion batteries, chargers and power electronics systems, has announced its unaudited financial results for the quarter ended 30^th June 2026.

For Q1 FY27, the company reported a strong year-on-year improvement in operating performance, with revenue from operations rising 125.3% to ₹1,345.7 crore, compared with ₹597.3 crore in Q1 FY26. EBITDA increased by 140.6% to ₹254.8 crore from ₹105.9 crore, while the EBITDA margin improved to 18.9% from 17.7%. On a quarter-on-quarter basis, revenue grew 49.4% from ₹900.8 crore in Q4 FY26, while EBITDA increased 48.6% from ₹171.5 crore.

Reported PAT, however, declined 14.5% year-on-year to ₹57.8 crore from ₹67.6 crore and fell 45.6% sequentially from ₹106.3 crore, primarily impacted by the Bawal fire loss provision of ₹107.4 crore, net of tax. Excluding this provision, normalised PAT stood at ₹165.2 crore, registering a 144.5% year-on-year growth and a 55.4% quarter-on-quarter increase. The normalised PAT margin improved to 12.3%, compared with 11.3% in Q1 FY26 and 11.8% in Q4 FY26.

Key Business Highlights:
•     Commissioned 2,000 MW solar panel manufacturing capacity at Ratlam, Madhya Pradesh in Q1 FY27
•     Commissioned 2,000 MW Power Electronics manufacturing capacity at Ratlam in August 2026
•     The 2,000 MW Lithium-ion battery manufacturing capacity at Ratlam is expected to be commissioned by Q2 FY27
•     Setting up a 1,200 MW solar cell manufacturing facility at Ratlam with an investment of around Rs. 350 crore

Commenting on the performance Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, said, “The first quarter of FY2027 marked a positive start to the year for Fujiyama, with higher business scale, continued expansion of the distribution network and progress across the Company’s manufacturing initiatives. The demand environment for residential rooftop solar and power backup solutions remains favourable, supported by increasing solar adoption, policy initiatives and growing awareness across Tier 2 and Tier 3 markets. In this environment, the Company remained focused on expanding its reach, increasing manufacturing capacity and building greater integration across the solar value chain.

Revenue from Operations increased by 125.3% YoY to Rs. 13,457 million. EBITDA grew by 140.6% YoY to Rs. 2,548 million, while EBITDA margin improved to 18.9% compared with 17.7% in Q1 FY2026. The improvement in profitability was supported by the higher scale of operations and increasing contribution from the Company’s backward integrated manufacturing platform. The performance during the quarter also reflects the growing reach of Fujiyama’s product portfolio and its ability to serve rising demand across its key markets.

The distribution network recorded one of its largest quarterly expansions during Q1 FY27. The Company added more than 80 distributors, over 1,000 dealers and more than 30 exclusive Shoppes. This took the total channel partner base to over 10,100 as of June 30, 2026. The wider network gives Fujiyama greater access to customers across different markets and supports faster product availability, installation and after sales service. This remains particularly important in the residential rooftop solar segment, where proximity to customers and dependable service are important factors in purchase decisions.

On the manufacturing front, the Company commissioned its 2,000 MW solar panel manufacturing facility at Ratlam during Q1 FY27. This was followed by the commissioning of the 2,000 MW power electronics manufacturing facility in August 2026. With these additions, the Company’s total solar panel and power electronics manufacturing capacities have increased to 3,568 MW and 4,180 MW, respectively.

Furthermore, the 2,000 MW lithium-ion battery manufacturing capacity at Ratlam is also on track for commissioning by Q2 FY27. Once completed, the Ratlam complex will bring solar panels, power electronics and batteries under one manufacturing location, further strengthening integration across the Company’s product portfolio and supporting its growing scale of operations.

The Company also took another step towards increasing backward integration during the quarter by approving the acquisition of an additional 31% stake each in Zayo Energy Private Limited and Zayo Cables Private Limited, taking Fujiyama’s shareholding in both companies from 19% to 50%. Zayo Energy is engaged in manufacturing solar module components like aluminum frame, PV Ribbon wire, busbar and solder wires, while Zayo Cables is engaged in manufacturing solar module components like PV junction box, solar cables and EVA sheet. These businesses are closely linked to Fujiyama’s existing product portfolio. The investments are intended to increase backward integration, strengthen the value chain and provide greater control over components used across the Company’s solar power solutions business.

Looking ahead, the opportunity in residential rooftop solar remains favourable, supported by government initiatives, rising consumer awareness and increasing adoption. The Company’s focus will remain on ramping up the newly commissioned capacities, expanding market reach and improving integration across operations. We remain committed to providing dependable, high quality solar solutions and creating long term value for all stakeholders.”

Fujiyama Power Systems Limited (“Fujiyama” or the “Company”) (BSE: 544613 | NSE: UTLSOLAR), one of India’s leading providers of rooftop solar solutions, offering an extensive portfolio across solar panels, inverters, lithium-ion batteries, chargers and power electronics systems, has announced its unaudited financial results for the quarter ended 30^th June 2026.

For Q1 FY27, the company reported a strong year-on-year improvement in operating performance, with revenue from operations rising 125.3% to ₹1,345.7 crore, compared with ₹597.3 crore in Q1 FY26. EBITDA increased by 140.6% to ₹254.8 crore from ₹105.9 crore, while the EBITDA margin improved to 18.9% from 17.7%. On a quarter-on-quarter basis, revenue grew 49.4% from ₹900.8 crore in Q4 FY26, while EBITDA increased 48.6% from ₹171.5 crore.

Reported PAT, however, declined 14.5% year-on-year to ₹57.8 crore from ₹67.6 crore and fell 45.6% sequentially from ₹106.3 crore, primarily impacted by the Bawal fire loss provision of ₹107.4 crore, net of tax. Excluding this provision, normalised PAT stood at ₹165.2 crore, registering a 144.5% year-on-year growth and a 55.4% quarter-on-quarter increase. The normalised PAT margin improved to 12.3%, compared with 11.3% in Q1 FY26 and 11.8% in Q4 FY26.

Key Business Highlights:
•     Commissioned 2,000 MW solar panel manufacturing capacity at Ratlam, Madhya Pradesh in Q1 FY27
•     Commissioned 2,000 MW Power Electronics manufacturing capacity at Ratlam in August 2026
•     The 2,000 MW Lithium-ion battery manufacturing capacity at Ratlam is expected to be commissioned by Q2 FY27
•     Setting up a 1,200 MW solar cell manufacturing facility at Ratlam with an investment of around Rs. 350 crore

Commenting on the performance Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, said, “The first quarter of FY2027 marked a positive start to the year for Fujiyama, with higher business scale, continued expansion of the distribution network and progress across the Company’s manufacturing initiatives. The demand environment for residential rooftop solar and power backup solutions remains favourable, supported by increasing solar adoption, policy initiatives and growing awareness across Tier 2 and Tier 3 markets. In this environment, the Company remained focused on expanding its reach, increasing manufacturing capacity and building greater integration across the solar value chain.

Revenue from Operations increased by 125.3% YoY to Rs. 13,457 million. EBITDA grew by 140.6% YoY to Rs. 2,548 million, while EBITDA margin improved to 18.9% compared with 17.7% in Q1 FY2026. The improvement in profitability was supported by the higher scale of operations and increasing contribution from the Company’s backward integrated manufacturing platform. The performance during the quarter also reflects the growing reach of Fujiyama’s product portfolio and its ability to serve rising demand across its key markets.

The distribution network recorded one of its largest quarterly expansions during Q1 FY27. The Company added more than 80 distributors, over 1,000 dealers and more than 30 exclusive Shoppes. This took the total channel partner base to over 10,100 as of June 30, 2026. The wider network gives Fujiyama greater access to customers across different markets and supports faster product availability, installation and after sales service. This remains particularly important in the residential rooftop solar segment, where proximity to customers and dependable service are important factors in purchase decisions.

On the manufacturing front, the Company commissioned its 2,000 MW solar panel manufacturing facility at Ratlam during Q1 FY27. This was followed by the commissioning of the 2,000 MW power electronics manufacturing facility in August 2026. With these additions, the Company’s total solar panel and power electronics manufacturing capacities have increased to 3,568 MW and 4,180 MW, respectively.

Furthermore, the 2,000 MW lithium-ion battery manufacturing capacity at Ratlam is also on track for commissioning by Q2 FY27. Once completed, the Ratlam complex will bring solar panels, power electronics and batteries under one manufacturing location, further strengthening integration across the Company’s product portfolio and supporting its growing scale of operations.

The Company also took another step towards increasing backward integration during the quarter by approving the acquisition of an additional 31% stake each in Zayo Energy Private Limited and Zayo Cables Private Limited, taking Fujiyama’s shareholding in both companies from 19% to 50%. Zayo Energy is engaged in manufacturing solar module components like aluminum frame, PV Ribbon wire, busbar and solder wires, while Zayo Cables is engaged in manufacturing solar module components like PV junction box, solar cables and EVA sheet. These businesses are closely linked to Fujiyama’s existing product portfolio. The investments are intended to increase backward integration, strengthen the value chain and provide greater control over components used across the Company’s solar power solutions business.

Looking ahead, the opportunity in residential rooftop solar remains favourable, supported by government initiatives, rising consumer awareness and increasing adoption. The Company’s focus will remain on ramping up the newly commissioned capacities, expanding market reach and improving integration across operations. We remain committed to providing dependable, high quality solar solutions and creating long term value for all stakeholders.”

Fujiyama Power Systems Limited (“Fujiyama” or the “Company”) (BSE: 544613 | NSE: UTLSOLAR), one of India’s leading providers of rooftop solar solutions, offering an extensive portfolio across solar panels, inverters, lithium-ion batteries, chargers and power electronics systems, has announced its unaudited financial results for the quarter ended 30^th June 2026.

For Q1 FY27, the company reported a strong year-on-year improvement in operating performance, with revenue from operations rising 125.3% to ₹1,345.7 crore, compared with ₹597.3 crore in Q1 FY26. EBITDA increased by 140.6% to ₹254.8 crore from ₹105.9 crore, while the EBITDA margin improved to 18.9% from 17.7%. On a quarter-on-quarter basis, revenue grew 49.4% from ₹900.8 crore in Q4 FY26, while EBITDA increased 48.6% from ₹171.5 crore.

Reported PAT, however, declined 14.5% year-on-year to ₹57.8 crore from ₹67.6 crore and fell 45.6% sequentially from ₹106.3 crore, primarily impacted by the Bawal fire loss provision of ₹107.4 crore, net of tax. Excluding this provision, normalised PAT stood at ₹165.2 crore, registering a 144.5% year-on-year growth and a 55.4% quarter-on-quarter increase. The normalised PAT margin improved to 12.3%, compared with 11.3% in Q1 FY26 and 11.8% in Q4 FY26.

Key Business Highlights:
•     Commissioned 2,000 MW solar panel manufacturing capacity at Ratlam, Madhya Pradesh in Q1 FY27
•     Commissioned 2,000 MW Power Electronics manufacturing capacity at Ratlam in August 2026
•     The 2,000 MW Lithium-ion battery manufacturing capacity at Ratlam is expected to be commissioned by Q2 FY27
•     Setting up a 1,200 MW solar cell manufacturing facility at Ratlam with an investment of around Rs. 350 crore

Commenting on the performance Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, said, “The first quarter of FY2027 marked a positive start to the year for Fujiyama, with higher business scale, continued expansion of the distribution network and progress across the Company’s manufacturing initiatives. The demand environment for residential rooftop solar and power backup solutions remains favourable, supported by increasing solar adoption, policy initiatives and growing awareness across Tier 2 and Tier 3 markets. In this environment, the Company remained focused on expanding its reach, increasing manufacturing capacity and building greater integration across the solar value chain.

Revenue from Operations increased by 125.3% YoY to Rs. 13,457 million. EBITDA grew by 140.6% YoY to Rs. 2,548 million, while EBITDA margin improved to 18.9% compared with 17.7% in Q1 FY2026. The improvement in profitability was supported by the higher scale of operations and increasing contribution from the Company’s backward integrated manufacturing platform. The performance during the quarter also reflects the growing reach of Fujiyama’s product portfolio and its ability to serve rising demand across its key markets.

The distribution network recorded one of its largest quarterly expansions during Q1 FY27. The Company added more than 80 distributors, over 1,000 dealers and more than 30 exclusive Shoppes. This took the total channel partner base to over 10,100 as of June 30, 2026. The wider network gives Fujiyama greater access to customers across different markets and supports faster product availability, installation and after sales service. This remains particularly important in the residential rooftop solar segment, where proximity to customers and dependable service are important factors in purchase decisions.

On the manufacturing front, the Company commissioned its 2,000 MW solar panel manufacturing facility at Ratlam during Q1 FY27. This was followed by the commissioning of the 2,000 MW power electronics manufacturing facility in August 2026. With these additions, the Company’s total solar panel and power electronics manufacturing capacities have increased to 3,568 MW and 4,180 MW, respectively.

Furthermore, the 2,000 MW lithium-ion battery manufacturing capacity at Ratlam is also on track for commissioning by Q2 FY27. Once completed, the Ratlam complex will bring solar panels, power electronics and batteries under one manufacturing location, further strengthening integration across the Company’s product portfolio and supporting its growing scale of operations.

The Company also took another step towards increasing backward integration during the quarter by approving the acquisition of an additional 31% stake each in Zayo Energy Private Limited and Zayo Cables Private Limited, taking Fujiyama’s shareholding in both companies from 19% to 50%. Zayo Energy is engaged in manufacturing solar module components like aluminum frame, PV Ribbon wire, busbar and solder wires, while Zayo Cables is engaged in manufacturing solar module components like PV junction box, solar cables and EVA sheet. These businesses are closely linked to Fujiyama’s existing product portfolio. The investments are intended to increase backward integration, strengthen the value chain and provide greater control over components used across the Company’s solar power solutions business.

Looking ahead, the opportunity in residential rooftop solar remains favourable, supported by government initiatives, rising consumer awareness and increasing adoption. The Company’s focus will remain on ramping up the newly commissioned capacities, expanding market reach and improving integration across operations. We remain committed to providing dependable, high quality solar solutions and creating long term value for all stakeholders.”

Meta Materials Circular Markets (MMCM) has appointed Prasad S. Shetty as its Chief Financial Officer (CFO), effective August 12, 2026. Shetty will lead the company’s finance function and work with key stakeholders on its financial direction and growth plans.

Shetty is a Chartered Accountant with more than 13 years of experience across finance, financial strategy, taxation, governance, financial controls and business partnering. Before joining MMCM, he was Associate Director – Finance at Freight Tiger, where he was part of the senior finance leadership team.

At Freight Tiger, Shetty worked across financial planning, management reporting, taxation, working capital, governance and process improvements. Prior to that, he worked at BARC India, where he handled taxation, financial reporting and audits, and at Allcargo Logistics, where he was involved in the group-wide GST implementation.

At Allcargo Logistics, Shetty was involved in designing the compliance framework, transforming tax processes and supporting the nationwide rollout of GST. His experience at BARC India included taxation, financial reporting, audits and financial controls.

Commenting on the appointment, MMCM CEO Nitin Chitkara said, “Prasad brings deep financial and governance expertise across high-growth, complex businesses.” He added that Shetty’s experience would support the company as it scales its operations and strengthens financial discipline and governance.

In his new role, Shetty will lead MMCM’s finance function and play a strategic role in shaping its financial direction, financial discipline and engagement with key stakeholders.

Shetty said the appointment comes at a significant stage for India’s circular economy and carbon markets, adding that he would work with the leadership team on financial discipline, governance and long-term growth.

MMCM operates across carbon credits, extended producer responsibility (EPR) frameworks and digital measurement, reporting and verification (MRV) systems. The company said Shetty’s appointment is intended to strengthen its leadership as it expands its operations in these areas.

Meta Materials Circular Markets (MMCM) has appointed Prasad S. Shetty as its Chief Financial Officer (CFO), effective August 12, 2026. Shetty will lead the company’s finance function and work with key stakeholders on its financial direction and growth plans.

Shetty is a Chartered Accountant with more than 13 years of experience across finance, financial strategy, taxation, governance, financial controls and business partnering. Before joining MMCM, he was Associate Director – Finance at Freight Tiger, where he was part of the senior finance leadership team.

At Freight Tiger, Shetty worked across financial planning, management reporting, taxation, working capital, governance and process improvements. Prior to that, he worked at BARC India, where he handled taxation, financial reporting and audits, and at Allcargo Logistics, where he was involved in the group-wide GST implementation.

At Allcargo Logistics, Shetty was involved in designing the compliance framework, transforming tax processes and supporting the nationwide rollout of GST. His experience at BARC India included taxation, financial reporting, audits and financial controls.

Commenting on the appointment, MMCM CEO Nitin Chitkara said, “Prasad brings deep financial and governance expertise across high-growth, complex businesses.” He added that Shetty’s experience would support the company as it scales its operations and strengthens financial discipline and governance.

In his new role, Shetty will lead MMCM’s finance function and play a strategic role in shaping its financial direction, financial discipline and engagement with key stakeholders.

Shetty said the appointment comes at a significant stage for India’s circular economy and carbon markets, adding that he would work with the leadership team on financial discipline, governance and long-term growth.

MMCM operates across carbon credits, extended producer responsibility (EPR) frameworks and digital measurement, reporting and verification (MRV) systems. The company said Shetty’s appointment is intended to strengthen its leadership as it expands its operations in these areas.

Meta Materials Circular Markets (MMCM) has appointed Prasad S. Shetty as its Chief Financial Officer (CFO), effective August 12, 2026. Shetty will lead the company’s finance function and work with key stakeholders on its financial direction and growth plans.

Shetty is a Chartered Accountant with more than 13 years of experience across finance, financial strategy, taxation, governance, financial controls and business partnering. Before joining MMCM, he was Associate Director – Finance at Freight Tiger, where he was part of the senior finance leadership team.

At Freight Tiger, Shetty worked across financial planning, management reporting, taxation, working capital, governance and process improvements. Prior to that, he worked at BARC India, where he handled taxation, financial reporting and audits, and at Allcargo Logistics, where he was involved in the group-wide GST implementation.

At Allcargo Logistics, Shetty was involved in designing the compliance framework, transforming tax processes and supporting the nationwide rollout of GST. His experience at BARC India included taxation, financial reporting, audits and financial controls.

Commenting on the appointment, MMCM CEO Nitin Chitkara said, “Prasad brings deep financial and governance expertise across high-growth, complex businesses.” He added that Shetty’s experience would support the company as it scales its operations and strengthens financial discipline and governance.

In his new role, Shetty will lead MMCM’s finance function and play a strategic role in shaping its financial direction, financial discipline and engagement with key stakeholders.

Shetty said the appointment comes at a significant stage for India’s circular economy and carbon markets, adding that he would work with the leadership team on financial discipline, governance and long-term growth.

MMCM operates across carbon credits, extended producer responsibility (EPR) frameworks and digital measurement, reporting and verification (MRV) systems. The company said Shetty’s appointment is intended to strengthen its leadership as it expands its operations in these areas.

The Hinduja Group – a 111-year-old transnational conglomerate, announced plans to invest ₹2,500 crore in Tamil Nadu. The investment will span across the group’s businesses including renewable energy, electric mobility, automotive, financial services, energy, battery charging infrastructure and digital mobility solutions.

As part of the commitment, Mr. Amit Saharia, Group President – Strategy, Hinduja Group signed a Memorandum of Understanding (MoU) with Mr. Deepak Jacob, IAS, MD & CEO, Guidance Industries, Investment Promotion and Commerce Department, Government of Tamil Nadu in the august presence of Hon’ble Chief Minister of Tamil Nadu – Thiru C. Joseph Vijay, Mr. Ashok Hinduja, Chairman of Hinduja Group of Companies (India), Selvi S. Keerthana, Minister for Industries, Investment Promotion and Commerce, Government of Tamil Nadu,  Dr. S. Vijayakumar, IAS – Additional Chief Secretary to Government, Industries, Investment Promotion and Commerce Department, Government of Tamil Nadu and other senior dignitaries.

A key component of the commitment will be the development of 200 MW+ renewable energy projects by Hinduja Renewables Energy Private Limited (HREPL), spanning solar, wind and battery technologies. The Group will seek land and connectivity support in identified catchment areas, including Tirunelveli, Thoothukudi and Virudhunagar, Madurai and Coimbatore as it works towards developing these projects.

In the mobility space, OHM Global Mobility Limited will operationalise electric buses for public transport in Tamil Nadu and expand its mobility solutions value chain. The Group will also explore opportunities across automotive, financial services, energy, battery charging infrastructure and digital mobility solutions as part of its broader investment commitment to the state.

Mr. Ashok Hinduja, Chairman, Hinduja Group of Companies (India), said, “Our ₹2,500 crore commitment is a statement of our confidence in Tamil Nadu and our desire to participate in its next phase of growth. With its strong industrial base, talent and renewable energy potential, Tamil Nadu is well positioned to lead India’s energy and mobility transition. We look forward to building on our long-standing association with the state and working with the Government of Tamil Nadu to create lasting value through investments in clean energy, electric mobility and other emerging opportunities.” 

The proposed investment reflects the Hinduja Group’s long-standing presence in Tamil Nadu and its growing focus on clean energy and new mobility. The Group’s businesses in the state include Ashok Leyland, Gulf Oil India, Hinduja Leyland Finance, Hinduja Housing Finance, Switch Mobility, Ohm Mobility, Gro Digital and Hinduja Tech, among others.

The latest commitment also builds on the Hinduja Group UK’s ₹7,500 crore MoU signed with the Government of Tamil Nadu in September 2025 for investments in the state’s EV ecosystem, spanning battery manufacturing, battery energy storage systems and charging infrastructure. In March 2026, Ashok Leyland broke ground for a ₹500 crore greenfield battery pack manufacturing facility at Pillaipakkam near Chennai, further strengthening the state’s electric mobility supply chain.

Tamil Nadu’s strong industrial base, skilled talent, manufacturing capabilities and entrepreneurial ecosystem position the state well to play an important role in India’s energy transition and the evolution of new mobility. The Hinduja Group looks forward to working closely with the Government of Tamil Nadu to take forward this commitment and contribute to the state’s sustainable growth.