|
The subsidiary has been set up to carry out business activities in solar energy, green hydrogen, and battery energy storage systems. Being a newly incorporated company, it is not expected to have any immediate impact on H.G. Infra Engineering's operations or financials. The subsidiary's initial share capital is Rs 15 lakh, divided into 1,50,000 equity shares of Rs. 10 each, and the transaction was completed through cash consideration. As a wholly owned subsidiary, H.G. Clean Energy Solutions qualifies as a related party, and the incorporation falls under the ambit of related party transactions. Apart from the shares held by the company and the directorships held by its promoters, the promoter group and affiliated companies have no additional interest in the subsidiary. H.G. Infra Engineering is an Indian road infrastructure company engaged in the business of Engineering, Procurement, and Construction (EPC) services and maintenance of roads, bridges, flyovers, and other infrastructure contract works. The company reported a 35.77% decline in consolidated net profit to Rs 51.84 crore on a 1.31% increase in revenue from operations to Rs 917.98 crore in Q2 FY26 over Q2 FY25. Shares of H.G. Infra Engineering rose 0.25% to Rs 865.65 on the BSE. Powered by Capital Market - Live News
|