- All
- Important
- Financial Update
- Fund Raise
- Board Meeting
- Dividend/Bonus
- JV/Acquisition
- Investor Meet
- Insider Trade
- Pledging
- Others
Loading...
The Sale Deed for the SMW Solar Power Project in Munipally, Telangana has been executed with M/s. Virupaksha Organises Limited, following approval from the Board and shareholders. The consideration for this transaction amounts to Rs. 33.30 crores. This decision stems from the project's financial unsustainability, attributed to high cross-subsidy charges imposed by the Telangana government, which severely impacts profitability. Notably, the solar project has been generating an annual gross revenue of approximately Rs. 1.25 crores, but the net revenue falls to around Rs. 2.50 per unit after accounting for operational costs, failing to meet the original investment or create returns. This divestment indicates a strategic move to mitigate financial strain and may present an opportunity for reallocation of resources within the company. Stakeholders should monitor the implications of this sale on Surana Telecom and Power’s financial health and future strategies closely.