Aditya Ultra Steel to Set Up Solar Plant in Rajkot

12 May 2025 CW Team

Aditya Ultra Steel Ltd (NSE – AUSL), a key player in rolled steel manufacturing under the brand ‘Kamdhenu’, has announced the installation of a 5,000 KWP captive solar power plant at Jasdan in Rajkot district. The company is investing Rs 150 million in the project to reduce its carbon footprint and reliance on grid electricity, aiming to power its operations with clean energy.

The solar plant, located at Village Kundani, will supply power directly to Aditya Ultra Steel’s manufacturing unit in Wankaner, Rajkot. The facility, which produces TMT bars from billets with an annual capacity of 108,000 MT, is a vital supplier to the construction and infrastructure sectors.

This green initiative, approved at the company’s board meeting on April 29, 2025, involves leasing land from KPI Green Energy Ltd., a solar energy leader. The project is part of AUSL’s broader sustainability and cost-efficiency roadmap.

“Steel may be the backbone of modern infrastructure, but clean energy is the future,” a company spokesperson said. “This project marks a new chapter where industrial strength meets environmental responsibility.”

Incorporated in 2011, the company debuted on the NSE-SME exchange in September 2024 with a Rs 458.8 million IPO to fund expansion and working capital. For H1FY25, it reported revenue of Rs 3.12 billion, EBITDA of Rs 105 million, and net profit of Rs 52 million. For FY24, it posted Rs 5.88 billion in revenue and Rs 76.9 million in net profit.

CRISIL has assigned AUSL a credit rating of BBB/Stable (long-term) and A3+ (short-term), indicating strong financial health and operational performance.

Future updates on the solar project’s commissioning and impact on operations will be disclosed as per exchange norms.

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