Hinduja Group’s GOCL to Acquire HNPCL’s 1,040 MW Thermal Power Plant

30 Aug 2025 , 11:35 AM

Hinduja Group company GOCL Corporation Limited (GOCL) on Friday, August 29, announced that its board of directors has granted in-principle approval for the proposed acquisition of the thermal power business of Hinduja National Power Corporation Limited (HNPCL), subject to due diligence.

The move aligns with GOCL’s strategy to redeploy resources as it completes the monetisation of its land parcel in Kukatpally, Hyderabad and the divestment of a major subsidiary. With surplus liquidity and a strong balance sheet, the company is now preparing to enter its next phase of transformation by venturing into the energy sector.

HNPCL currently operates a 1,040 MW (2×520 MW) coal-based thermal power plant near Visakhapatnam, Andhra Pradesh, with potential for future capacity expansion. The asset is considered one of the key power projects in the region.

As per its audited FY24 financial results, HNPCL recorded:

• Income from operations of ₹3,573.36 crore
• Net profit of ₹996.97 crore (which includes ₹289.17 crore of regulatory income)
• Net worth standing at ₹3,935.42 crore

GOCL said it will provide further updates on the proposed acquisition as the evaluation and diligence process progresses.

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