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The consideration will be paid in cash through banking channels, the company said in a regulatory filing.

He has held leadership positions in business development, client acquisition, deal structuring and policy frameworks, with a focus on strengthening wholesale banking operations.

The expansion is expected to be completed by mid-2027, after which the plant will support customers in India and overseas with enhanced volumes of insulation boards.

The move is expected to boost India’s self-reliance in defence manufacturing and gradually reduce dependence on imported systems.

The contract, valued at ₹24.06 crore, includes the complete scope of supply along with packing, forwarding, insurance and delivery right up to the consignee site in Afghanistan.

The project is scheduled to be commissioned within six years of signing the power purchase agreement, ensuring its entire output goes to the state utility.

Fully operational, the project is likely to create more than 5,000 jobs, providing direct and indirect employment and a fillip to the region's base of electronics manufacturing.

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 this, the UK company is now a wholly owned subsidiary of Alidac and becomes a step-down subsidiary of Zydus Wellness.

This structure will enable sharper execution, faster innovation cycles and deeper operational focus all critical to winning in consumer markets.”