Havells India Limited to invest Rs. 600 crores in Goldi Solar Pvt Ltd

The Executive Committee of the Board of Directors of Havells India Limited, in its Meeting held today on 14th April, 2025, which concluded at 7:30 pm, has approved investment of INR 600 Crores (Rupees Six Hundred Crores only) in Goldi Solar Private Limited, a company headquartered in Surat, Gujarat, engaged mainly in the business of manufacturing and supply of solar modules and invertors.

Goldi is engaged mainly in the business of manufacturing and supply of solar modules and invertors. Goldi is headquartered in Surat, Gujarat. On consolidated basis, Goldi's revenue from operations in FY24 were INR 1,757cr (Audited) and estimated revenue of ~INR 3,420cr in FY25 (Unaudited) with historical EBITDA margin of 8-9%.

Havells already has presence in solar ecosystem through sale of modules, invertors, solar cables and DC switchgears. This is a strategic minority investment to ensure consistent supply of critical solar components like solar modules and cells. As part of Conditions Precedent to the transaction, Havells plans to enter into a master supply and service agreement with Goldi for consistent supply of solar modules and cells.

Post completion of transaction, Havells shareholding in Goldi will range from 8.9%-9.24% (subject to total fund raise of INR 1,050-1,300cr).

Havells has been evaluating multiple possible ways to participate in this mega trend through solutions for energy generation, storage, distribution and consumption etc. Energy transition is an adjacency to Havells' existing portfolio.

Renewable energy capacity is projected to grow at a CAGR of 16% till 2030, reaching approximately 500GW, (64% of total energy capacity). Out of the 500GW, ~300GW is anticipated to come from solar energy sources. India solar sector is at an inflection point supported by various government initiatives and favourable unit economics across value chain. Solar energy generation project represents multi-billion-dollar opportunity over next 5 years.

Shares of Havells India Limited was last trading in BSE at Rs. 1531.90 as compared to the previous close of Rs. 1470.80. The total number of shares traded during the day was 34880 in over 3594 trades.

The stock hit an intraday high of Rs. 1537.15 and intraday low of 1462.00. The net turnover during the day was Rs. 52877976.00.

Source : Equity Bulls

Keywords

HavellsIndia INE176B01034 Investment GoldiSolar