GPIL Injects ₹124.95 Crore Into Godawari New Energy for Battery Storage Plant Expansion

20 Nov 2025 , 11:34 AM

Godawari Power and Ispat Ltd (GPIL) informed the exchanges on November 19 that its wholly owned subsidiary, Godawari New Energy Private Ltd (GNEPL), has allotted 12,49,50,000 preference shares. These are non-cumulative, optionally convertible, redeemable preference shares, issued at a face value of ₹10 each.

The allotment, completed on November 18, amounts to ₹124.95 crore and follows GPIL’s earlier decision, disclosed on November 14, to infuse additional funds into the subsidiary.

The capital raised through this issue has been earmarked for capex and working capital needs as GNEPL moves ahead with the development of its 10 GWh Battery Energy Storage System Plant. The shares were issued on a rights basis to support the long-term expansion plan.

GPIL posted a steady performance in the September quarter. Net profit came in at ₹161 crore, slightly higher than the ₹159 crore reported in the same period last year. Revenue for the quarter rose 3.2 percent to ₹1,307 crore, compared with ₹1,267 crore a year earlier, reflecting a stable demand environment for steel and pellets.

The company reported an EBITDA of ₹259.3 crore for the quarter, up 5.2 percent from ₹246.5 crore last year. Operating margins also saw a minor improvement, rising to 19.8 percent from 19.5 percent.

GPIL operates as an integrated secondary steel producer with a strong presence across mining, manufacturing and power generation. Based in Raipur and part of the Hira Group, the company continues to benefit from its fully integrated model, which supports cost efficiency and strengthens its position in the long steel and pellet segment.

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