Rounaq Bakshi notes

IREDA : strategic importance to the GoI for the promotion and development of the RE sector in India Sovereign ownership and strategic importance to GoI  IREDAis a 71.76% GoI-owned entity and is of strategic importance to the GoI for the promotion and development of the RE sector in India as on June 30, 2025.  Thus, the ratings factor in the Sovereign ownership and strategic importance of the company. GOI infused equity of Rs. 1,500 Cr. in March 2022.  IREDA is a strategically important entity and was set up by GoI under the administrative control of Ministry of New and Renewable Energy (MNRE) to promote, develop and extend financial assistance for RE and EE projects.  IREDA has been instrumental in implementing several schemes of the MNRE.  IREDA receives benefits of being a government owned entity in the form of GoI guarantees for its overseas bond issuances and borrowing from multilateral agencies.  Acuité believes that IREDA will continue to benefit from...

  https://youtu.be/TsATncw_xJs?si=-RNzWXcwfTNa1UwL CESC  Ventures Into Green Hydrogen Domain Solar Energy Corporation India, a government of India enterprise, selected  CESC   Projects, for  the green hydrogen facility.  The investment in the venture could be in the region of Rs 450-500 crore CESC  will establish a green hydrogen plant, the first by the RPSG Group flagship, signalling its foray into new forms of energy. The thermal power producer, which supplies electricity to Calcutta and its suburbs, will build a 10,500 tonne capacity unit on the east coast. The new venture will be executed by  CESC  Projects Ltd, a wholly owned subsidiary of  CESC  Ltd. The project is going to get a fiscal incentive from the government of India as part of the National Green Hydrogen Mission unveiled in 2022. Framework agreement with Envision Energy India Private Limited Pursuant to Regulation 30 of the Securities and Exchange Board of India (List...

Tejas Network: The  Atmanirbhar  Bharat  Abhiyan  of  the  Government  of  India  (GoI),  which  is  aimed  at  limiting  import  dependence The reaffirmation of Tejas Networks Limited’s (TNL) ratings factors in the strong parentage of Panatone Finvest Limited (PFL), which  is  a  subsidiary  of  Tata  Sons  Private  Limited  (TSPL)(rated  [ICRA]AAA(Stable)/[ICRA]A1+)and  an  investment  holding company of the Tata Group for investmentsin telecommunication.  Further, the ratings draw comfort from TNL’s healthy order book,  strong  track  record  in  the  industry  and  its  long-term  relationships with  some  large  clients,  which  have helped  it  to maintain  a  healthy  market  share  in  the  optical  networkin...

Gandhar Oil Refinery : nearly 40% of revenue being derived from international sales Extensive industry and promoter experience with diversified client portfolio  The group has nearly three decades of experience in the specialty oil industry and is known for its presence in the industry at both domestic and international forums.  The company was started by Mr Ramesh Parekh, Chairman, who is now supported by his sons Mr. Samir Parekh, and Mr. Aslesh Parekh.  The group also caters to a reputed clientele base in more than 100 countries, including the UAE, Brazil, the USA, Europe, and Asia with nearly 40% of revenue being derived from international sales.  Further, revenue is diversified across Personal care, Healthcare and Performance oil (PHPO) segment having ~ 52% of FY24 revenue, Lubricants ~ 31%, Process Insulating Oil (PIO) ~ 7% and channel partners ~ 10%.  Some of its clients include Unilever, Proctor & Gamble, Marico, Dabur, Emami, Indian Railways, State ...

Bharat Bijlee:  India’s top 10 electric motors manufacturers    https://youtu.be/FM46Qa8oXlQ?si=GmzjUDBssmFF3d9H Transformer Capacity Addition, at the existing Airoli Factory, Navi Mumbai    Pursuant to the provisions of Regulation 30 read with sub-para 3 of Para B of Part A of Schedule III of the Listing Regulations, we would like to inform that, the Board of Directors, at its Meeting held today, i.e., on Monday, August 25, 2025, through Video Conferencing, have approved the proposal for Transformer Capacity Addition, for an additional capex of ₹ 65 Crores, from 28000 MVA to 35000 MVA, at the existing Airoli Works, Navi Mumbai.  Please also note, at the Board Meeting held on May 17, 2024, the proposal for capex of ₹ 170 Crores, to enhance the production capacity of Transformers, at Company’s existing Airoli Works, Navi Mumbai, from 18000 MVA to 28000 MVA, was approved and it was intimated to the Stock Exchanges on the same day.  Bharat Bijlee:  I...