Surana Solar Limited Secures 54 MW Solar Power Project in Maharashtra

Key Takeaways from the Order Win:

• Surana Solar Limited has secured a Letter of Award for a 54 MW (AC) solar project under the Mukhyamantri Saur Krushi Vahini Yojna 2.0.
• A tariff of ₹2.99 per kWh will be applied, with a subsidy of ₹1.05 crore per MW.
• The project is to be commissioned within 12 months and will have a contract period of 25 years from the commissioning date.
• The total estimated cost of the project is ₹189 crores.

This initiative, which has been launched by the Maharashtra State Electricity Distribution Co. Ltd., aims at feeder-level solarisation the under PM-KUSUM Scheme. The project will be in Maharashtra. 

According to a stock exchange filing, the contract will include a tariff of ₹2.99 per kWh and a subsidy of ₹1.05 crore per MW. The project will be commissioned in 12 months from the date of the Letter of Award (LOA). The contract is for 25 years from the date of commissioning. This contract is for power procurement under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. It is a domestic initiative to supply 54 MW (AC) of power from the solar facility at an estimated project cost of ₹189 crores. 

About Surana Solar Limited

Surana Solar Ltd., established in 2006, is a part of the Surana Group and focuses on manufacturing solar photovoltaic modules, generating wind and solar power, and trading solar-related products. The company specialises in the engineering, procurement, and construction (EPC) of power projects on a turnkey basis, primarily in the range of 1 MW to 15 MW. It offers both grid-connected and off-grid photovoltaic power plants in open areas, contributing to the renewable energy sector.

Key Takeaways from the Acquisition

• DOMS has acquired a 51.77% equity stake in Uniclan Healthcare for ₹54.88 crore, rendering Uniclan a subsidiary of DOMS. 
• This transaction will enable DOMS to diversify its product portfolio, as well as facilitate its entry into the baby hygiene product segment. 
• The transaction proceeds will be utilised for capacity enhancement, repayment of debt, and enhancement of Uniclan's distribution capability. 

Under the terms of the transaction, DOMS will acquire 71,16,080 equity shares for an overall cost of ₹54.88 crore, which includes an infusion of ₹28.88 crore to be used for capacity expansion, debt repayment, and working capital needs as stated in a regulatory filing. 

The company further noted that the acquisition supports DOMS' growth strategy for diversification of its product portfolio and entry into new markets. Uniclan was established with its flagship product, which is its baby diaper brand ‘Wowper,’ and it substantiated the terms of the transaction to have a state-of-the-art manufacturing facility located in Jaipur with an annual capacity of 400 million diapers.

 Uniclan affirmed its commitment to advanced R&D and international quality standards and plans to build its distribution network to further prepare for market growth relative to the terms of the transaction and its broader plan. 

Commenting on the acquisition, Mr Santosh Raveshia, Managing Director, DOMS Industries Limited, said, "We are pleased to announce our strategic entry into the baby hygiene segment with this investment in Uniclan. Its well-accepted product portfolio, growing market presence and forward-thinking approach align perfectly with our vision for growth and diversification. This acquisition is a crucial step in our long-term strategy to explore new sectors that enhance our business portfolio and resonate well with our targeted focus on children in their growing years.”

Mr Vatsal Desai, Founder and Director, of Uniclan Healthcare Private Limited added, “We are excited to partner with DOMS, a company that shares our commitment for long term value creation. We believe that with our focus on product quality and innovation, and leveraging DOMS distribution network in India and globally, we shall be able to elevate Uniclan's growth trajectory and expand our reach.”

From the DOMS point of view, this acquisition has a multitude of important benefits. First, by entering a diaper market that is valued at approximately $2 billion and has a CAGR of approximately 16%, DOMS can greatly expand its addressable target market. In the short run, Uniclan will benefit from the DOMS wide distribution network that includes their many existing relationships with both stockists and distributors, which will allow Uniclan to expand its overall market reach. Then, in the long run, this partnership opens the door for Uniclan's distribution network to operate as a parallel channel to ultimately distribute DOMS' products, thus improving growth potential for both companies. 

About DOMS Industries Limited

DOMS Industries Limited is a well-established, India-based company engaged in the manufacture of stationery and art products. It designs, produces, and sells a large portfolio of items, which it organises into 7 categories, including scholastic stationery, fine art materials, office supplies, and art products. DOMS sells its products under a main brand named ‘DOMS’ and also sells other brands, including C3, Amariz, and FixyFix. DOMS covers all 29 states in India and exports its products to over 50 countries. The company’s success in rapidly increasing revenues and continuing to be reputationally strong, both domestically and internationally, has been directly proportional to its overall concentration on research & development, efficient product engineering, and backward supply chain integration.

Key Takeaways from the Acquisition

• DOMS has acquired a 51.77% equity stake in Uniclan Healthcare for ₹54.88 crore, rendering Uniclan a subsidiary of DOMS. 
• This transaction will enable DOMS to diversify its product portfolio, as well as facilitate its entry into the baby hygiene product segment. 
• The transaction proceeds will be utilised for capacity enhancement, repayment of debt, and enhancement of Uniclan's distribution capability. 

Under the terms of the transaction, DOMS will acquire 71,16,080 equity shares for an overall cost of ₹54.88 crore, which includes an infusion of ₹28.88 crore to be used for capacity expansion, debt repayment, and working capital needs as stated in a regulatory filing. 

The company further noted that the acquisition supports DOMS' growth strategy for diversification of its product portfolio and entry into new markets. Uniclan was established with its flagship product, which is its baby diaper brand ‘Wowper,’ and it substantiated the terms of the transaction to have a state-of-the-art manufacturing facility located in Jaipur with an annual capacity of 400 million diapers.

 Uniclan affirmed its commitment to advanced R&D and international quality standards and plans to build its distribution network to further prepare for market growth relative to the terms of the transaction and its broader plan. 

Commenting on the acquisition, Mr Santosh Raveshia, Managing Director, DOMS Industries Limited, said, "We are pleased to announce our strategic entry into the baby hygiene segment with this investment in Uniclan. Its well-accepted product portfolio, growing market presence and forward-thinking approach align perfectly with our vision for growth and diversification. This acquisition is a crucial step in our long-term strategy to explore new sectors that enhance our business portfolio and resonate well with our targeted focus on children in their growing years.”

Mr Vatsal Desai, Founder and Director, of Uniclan Healthcare Private Limited added, “We are excited to partner with DOMS, a company that shares our commitment for long term value creation. We believe that with our focus on product quality and innovation, and leveraging DOMS distribution network in India and globally, we shall be able to elevate Uniclan's growth trajectory and expand our reach.”

From the DOMS point of view, this acquisition has a multitude of important benefits. First, by entering a diaper market that is valued at approximately $2 billion and has a CAGR of approximately 16%, DOMS can greatly expand its addressable target market. In the short run, Uniclan will benefit from the DOMS wide distribution network that includes their many existing relationships with both stockists and distributors, which will allow Uniclan to expand its overall market reach. Then, in the long run, this partnership opens the door for Uniclan's distribution network to operate as a parallel channel to ultimately distribute DOMS' products, thus improving growth potential for both companies. 

About DOMS Industries Limited

DOMS Industries Limited is a well-established, India-based company engaged in the manufacture of stationery and art products. It designs, produces, and sells a large portfolio of items, which it organises into 7 categories, including scholastic stationery, fine art materials, office supplies, and art products. DOMS sells its products under a main brand named ‘DOMS’ and also sells other brands, including C3, Amariz, and FixyFix. DOMS covers all 29 states in India and exports its products to over 50 countries. The company’s success in rapidly increasing revenues and continuing to be reputationally strong, both domestically and internationally, has been directly proportional to its overall concentration on research & development, efficient product engineering, and backward supply chain integration.

Key Takeaways from the Order Win

• KEC International has won orders worth ₹1,003 crores across the railways, civil, and cable sectors.
• The civil business expands into the metals and mining sector with a new steel plant order.
• With these orders, the year-to-date order intake exceeds ₹12,300 crores, reflecting 60% growth compared to last year.

As mentioned in a stock exchange filing, KEC International has bagged an order for a tunnel ventilation system and associated works in India as part of its railway business. The Civil segment of the company has received a new order for civil and mechanical works in a steel plant in India. The Cables business has also secured orders for the supply of various types of cables for the domestic and export markets. 

Commenting on the order win, Mr Vimal Kejriwal, MD & CEO, of KEC International Ltd. said, “We are pleased with the order wins secured across our business verticals. Our Railway business has strengthened its presence in the emerging Tunnel Ventilation segment, while our Civil business has expanded its portfolio with the addition of a prestigious new client in the Metals & Mining segment. With these orders, our YTD order intake stands at over Rs. 12,300 crores, reflecting a stellar growth of over 60% compared to last year. Notably, a substantial ~70% of this year’s order intake comes from our Transmission & Distribution (T&D) business.”

About KEC International Limited 

KEC International is a leading global player in the Engineering, Procurement, and Construction (EPC) sector. The company operates across various verticals including Power Transmission and Distribution, Railways, Civil and urban Infrastructure, Solar, Oil & Gas Pipelines, and Cables. With ongoing infrastructure projects in over 30 countries and a presence in more than 110 countries (spanning EPC and the supply of towers and cables), KEC is the flagship company of the RPG Group.

About RPG Enterprises

Founded in 1979, RPG Enterprises is one of India's fastest-growing business groups, with a revenue of USD 4.8 billion. The group has a diverse range of businesses spanning Infrastructure, Tyres, Pharmaceuticals, IT, and Specialty sectors, along with a focus on emerging, innovation-driven technology ventures.