Meghmani Organics Jumps 3% on Securing 3.30 MW Hybrid Green Power Deal
Overview
Meghmani Organics shares climbed 3.2% after securing a 3.30 MW wind-solar hybrid power agreement with Pro-Zeal Green Power Fifteen. The deal aims to meet rising energy demands and sustainability goals. Meghmani Organics will invest ₹3.63 crore for a 26% stake in the renewable energy producer, enhancing its commitment to green energy alongside its core chemical business.
Stocks Mentioned
Power Deal Boosts Meghmani Organics Shares
Meghmani Organics Limited shares climbed 3.2% to ₹62.18 on the BSE Friday. The jump followed the company's announcement of a power purchase agreement with Pro-Zeal Green Power Fifteen Private Limited for a 3.30 MW wind-solar hybrid project in Gujarat. By midday, the stock was trading 1.78% higher at ₹61.32, outperforming the broader market's slight decline.
Strategic Investment in Renewables
The agreement positions Meghmani Organics as a captive consumer for the new renewable energy source. This initiative aims to meet the company's escalating energy demands and reinforce its commitment to sustainability targets. Meghmani Organics plans a strategic investment of ₹3.63 crore, allocated in tranches over six to nine months, to secure a minimum 26% stake in Pro-Zeal Green Power Fifteen Private Limited. This entity, incorporated in June 2025, will generate and manage renewable energy.
Company Expansion and Goals
Established in 1986 and headquartered in Gujarat, Meghmani Organics is a well-known diversified chemical manufacturer with a significant international presence across over 75 countries. The company operates strong segments in pigments and agrochemicals. This move into renewable energy production supports its long-term sustainability objectives and aligns with initiatives promoting domestic manufacturing.
