GOCL Board Approves Plan to Acquire HNPCL’s Thermal Power Operations

31 Aug 2025 , 05:01 PM

GOCL Corporation Limited, part of the Hinduja Group, said on Friday that its board has given in-principle approval to take over the thermal power operations of Hinduja National Power Corporation Limited (HNPCL). The deal will move ahead once due diligence is complete.

The development comes at a time when GOCL is finishing the monetisation of its large land parcel at Kukatpally in Hyderabad and is also divesting a major subsidiary. With cash reserves and a strong balance sheet, the company is preparing for the next stage of growth by moving into the energy space.

HNPCL runs a 1,040 megawatt coal-based thermal plant near Visakhapatnam in Andhra Pradesh. The plant, built in two units of 520 MW each, has room for additional capacity in the future.

Financially, the power company reported revenues of ₹3,573.36 crore for FY24, along with a net profit of ₹996.97 crore. This included regulatory income of ₹289.17 crore. Its net worth at the end of the year stood at ₹3,935.42 crore. GOCL said more details on the proposed acquisition will be shared as the process moves forward.

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