Visaka Industries announce entry into new businesses; Stock ends higher

The Company announces forays into Electric Charging Stations; a chain of retail stores offering sustainable and eco-friendly products; and, turnkey building projects using sustainable building material.

May 27, 2021 04:05 IST India Infoline News Service

Visaka Industries
Visaka Industries Limited, in their Annual General Meeting held on Wednesday announced their entry into multiple new business segments which complement their existing businesses. These new segments will support their existing businesses by extending customer touchpoints and help in offering a holistic value proposition.

ATUMLife is Visaka's chain of retail stores that will offer fully sustainable, eco-friendly, green products. A one-stop-shop for sustainable products, ATUM Life will deal with Vnext sustainable building material, ATUMsolar roof, eco-friendly apparel made with sustainable yarn, organic detergents, sustainable consumables, electric vehicles, and reusable kitchenware and cutlery.

Visaka Industries Limited has plans to open 10 ATUMLife stores in major metros across India. Atum Life will store, sell and promote all products sustainable, making sustainable living accessible for everyone.

ATUMCharge is a self-sustaining solar powered Electric Vehicle charging station which will be set up across India, and elsewhere in the world, to support the movement to promote the use of electric vehicles.

Visaka Industries Limited believes that ATUM Solar Roof is the right product as it can generate 40% more clean power in the same given space as compared to any other solar solution. It is also to be noted that ATUM Solar Roof, with its clean and green power, will allow the entire electric vehicle charging proposition to move to 100% solar whereas, currently, most EV charging stations use electricity produced by thermal power generation completely defeating the purpose of moving to environment friendly power.

ATUMCharge is also looking at partnering with other electric charging station providers who are either in the market or are expected to come in the near future.

ATUM Charge stations will not only be powered by ATUM, the world's first integrated solar roof, but it will also be fabricated using Vnext boards (a range of fibre cement boards which are a functional alternate to gypsum and plywood), thereby generating green energy and promoting green commute in the real sense of the word.

Visaka Industries Limited will, in the first phase, set up 10 ATUMCharge EV Charging stations across major metros. These charging stations are designed so that they can be used by all EVs including electric cars, electric bikes and electric scooters.

Vnext Solutions is a n extension to Visaka Industries Limited’s range of Vnext fibre cement boards which are a sustainable alternate to gypsum and plywood. Vnext solutions aims at offering turnkey solutions for a wide range of building requirements ranging from pre-fabricated buildings to interior furniture requirements. All the solutions offered aim at using only sustainable products, making this a one-of-itskind offering in the entire building solutions industry.

Visaka Industries Ltd ended at Rs700.40 per piece up by Rs26.35 or 3.91% from its previous closing of Rs674.05 per piece on the BSE.

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