Archive: May 31, 2025

FY25 Milestone: Swan Energy Posts Highest-Ever Income and Profit Margins

Mumbai, May 31, 2025: Swan Energy Limited (BSE: 503310 | NSE: SWANENERGY), a diversified Indian conglomerate with operations spanning textiles, real estate, oil & gas, shipbuilding and heavy fabrication, has
announced its audited financial results for the fiscal year ended March 31, 2025.

Key Consolidated Financial Highlights for FY25:

• Total income grew by 35% to ₹ 6,884 crore in FY25 as against ₹ 5,100 crore in FY24
• EBITDA increased by 90% to ₹ 1,804 crore in FY25 compared to ₹ 951 crore in FY24
• EBITDA margin stood at 26.2% in FY25 as compared to 18.6% in FY24
• Profit after tax witnessed a growth of 49% to ₹ 874 crore in FY25 compared to ₹ 586 crore in FY24

Factors contributing to the business milestones:

Significant debt reduction following successful QIP

Swan Energy Limited successfully raised approximately ₹3,320 crore through a Qualified Institutions Placement (QIP) at an issue price of ₹670 per share. The proceeds from this capital raise have been strategically
allocated towards significant debt reduction initiatives across the group, substantially strengthening the company’s financial position, enhancing its operational flexibility and supporting its long-term strategic objectives.

Revitalization and commencement of operations at India’s largest shipyard – Swan Defence and Heavy Industries Limited (SDHI)

• Swan Energy Limited has achieved significant milestones in revitalizing India’s largest shipyard acquired through the National Company Law Tribunal (NCLT) process. Swan Energy’s step- down subsidiary Swan Defence and Heavy Industries Limited (SDHI) [BSE: 533107 | NSE: SWANDEF], formerly known as Reliance Naval and Engineering Limited, has transformed the shipyard into a fully operational, modern facility through focused investments, infrastructure enhancements, and a strong leadership team.
• The shipyard has restarted operations during the financial year and successfully delivered three refits for the Indian Coast Guard (ICG) ahead of schedule, showcasing the strong execution capabilities of the
  new management.
• Further, SDHI has built business synergies with major domestic and global shipbuilding players through strategic Memorandums of Understanding (MoUs) to unlock growth opportunities.

Flagship residential project in Bengaluru receives OC; over 90 percent units sold

• Swan Energy Limited’s wholly owned subsidiary Cardinal Energy and Infrastructure Pvt. Ltd. (CEIPL), has achieved a major milestone, with its flagship residential project, Cardinal One, located in Yeshwanthpur,
  Bengaluru, receiving Occupation Certificate (OC). Over 90 percent of the 120 ultra-private 3 and 4 BHK apartments have been sold, signifying customers’ confidence in the company’s commitment to deliver premium living spaces.
• In alignment with our strategic vision, we are actively exploring opportunities to monetize our existing land bank on an opportunistic basis, ensuring optimal value creation for our stakeholders. We have also
  successfully sold our Mangalore land last year.

Strategic sale of FSRU & near completion of onshore LNG terminal to drive New Energy business

• In a significant development in the LNG infrastructure portfolio, Swan Energy Limited’s subsidiary, Triumph Offshore Pvt. Ltd. (TOPL) sold its Floating Storage and Regasification Unit (FSRU) ‘Vasant-1’ for
  approximately $399 million. This strategic decision was influenced by the global LNG market volatility, notably the surge in prices following the Russia-Ukraine conflict, which impacted the viability of FSRU operations.
• The onshore LNG terminal at Jafrabad, Gujarat, is now nearing completion. Having secured long-term regasification agreements totaling 4.5 MMTPA with leading public sector undertakings, including GSPC, BPCL,
  IOCL, and ONGC, the company anticipates that the stabilization of LNG prices in the near future will enable commencement of operations, positioning Swan Energy as a key player in India’s new energy sector.

Commenting on the FY25 performance, Mr. Nikhil Merchant, Managing Director of Swan Energy Limited, said,

“It is with immense pride and gratitude that I present to you Swan Energy Limited’s performance for the fiscal year 2024–25. This year stands as a testament to our unwavering commitment, strategic foresight, and the collective efforts of our dedicated team.
We have achieved our highest ever revenue and profitability, marking a significant milestone in our journey. This accomplishment reflects the strength of our diversified business model and our ability to adapt and thrive in a dynamic economic landscape. Our financial health has been fortified through substantial debt reduction, positioning us on a robust foundation for sustainable growth. This prudent financial management underscores our commitment to creating long-term value for our stakeholders. We have successfully completed the restoration of our shipyard facilities. With a skilled and experienced team in place, we are poised to embark on new projects and anticipate our inaugural contract soon. The success of our residential project Cardinal One in Bengaluru has demonstrated customers’ confidence in our company’s commitment to deliver premium living spaces. In the LNG sector, we are witnessing favorable market dynamics that align with our strategic objectives. The progress on our LNG project at Jafrabad is encouraging, and we are optimistic about commencing operations and strengthening the New Energy business soon. As we move forward, the groundwork laid across our business verticals equips us to capitalize on emerging opportunities. We are committed to delivering excellence and driving innovation, ensuring that Swan Energy continues to be a beacon of resilience and growth.”

Unwind in Style: AlUla’s Luxury Hotels Redefine Summer Wellness

AlUla, Saudi Arabia – 30, May 2025: Forget the predictable spa retreats. AlUla, a captivating region of ancient wonders and dramatic landscapes in north-western Saudi Arabia, is fast emerging as a premier destination for transformative wellness experiences.

Beyond its historical significance and breathtaking scenery, AlUla’s hotels and resorts are pioneering spa treatments as unique and enriching as the destination itself. Here are five experiences to try this Summer to elevate your wellness journey like nowhere else:

AlUla Essence Massage

Inspired by the healing elements of the Arabian desert, this signature massage at Our Habitas AlUla uses locally sourced ingredients such as Moringa Peregrina, frankincense, and mastika to soothe aches, calm the body, and promote balance. Complemented by the placement of warm AlUla rocks to clear energy pathways, the treatment offers a holistic journey to well-being.

Located at Thuraya Wellness at Our Habitas AlUla

Moringa Candlelight Massage

This is a unique treatment that harnesses the power of Moringa Peregrina Tree Oil. Infused within the candle, this nourishing oil works to reduce inflammation and accelerate healing. As the candle melts, the warm oil is used in a soothing massage that relieves tight muscles, reduces tension, and improves circulation. The inherent goodness of the Moringa Peregrina Tree Oil further nourishes the skin and provides aromatherapy benefits, contributing to a holistic and deeply relaxing experience.

Located at Dalila Spa, Dar Tantora The House Hotel

Al Tajdid Al Arabi Exfoliation

Experience the rejuvenating power of the Arabian desert with this unique exfoliation treatment at Our Habitas AlUla. Enriched with locally sourced Prickly Pear and Date Seed Oil, this treatment is brimming with vitamins that stimulate collagen production, reduce dark spots from sun damage, and leave your skin feeling healthy, nourished, and glowing.

Located at Thuraya Wellness at Our Habitas AlUla

The Royal Banyan Experience

Escape to the tranquil Ashar Valley and indulge in the Royal Banyan Experience at Banyan Tree Spa. This signature treatment blends Eastern and Western techniques, enhanced by a warm herbal pouch steeped in aromatic sesame oil, to ease muscle aches, stimulate circulation, and calm the mind. A luxurious, holistic experience that nourishes body and soul.

Located at Banyan Tree Spa at Banyan Tree AlUla

The Summer Icebath

Immerse yourself in AlUla’s refreshing approach to summer wellness with The Summer Icebath – a one-day experience taking place on 20 June. This unique and revitalising session invites you to embrace the contrast of desert heat and icy plunge, all set against the breathtaking sandstone cliffs of Our Habitas AlUla. Thoughtfully curated with detox water, dates, yoga mats, and expert instruction, every element is designed to awaken the senses, boost circulation, and leave you feeling deeply restored.

Located at Our Habitas AlUla

Plan Your Summer Escape to AlUla

This summer, AlUla invites you to discover a destination where timeless beauty meets modern luxury. With cool desert evenings, breathtaking views, and a vibrant calendar of concerts, wellness sessions, and adventure experiences, there is something for everyone to enjoy. Take advantage of exclusive seasonal offers, including up to 40% off at AlUla’s stunning resorts and boutique hotels – perfect for those seeking relaxation, exploration, or a bit of both.

AlUla is easily accessible via direct domestic flights with Saudia and flynas from Riyadh, Jeddah, and Dammam, and international connections through Qatar Airways, and flydubai. Escape the ordinary this summer season and experience AlUla like never before.

UAE Transfer Pricing Rules Bring Director Salaries Under New Scrutiny Says ADJC

Dubai, UAE – 30 May 2025– As businesses across the UAE adjust to the Corporate Tax (CT) regime, ADJC is urging companies to revisit how they remunerate directors, particularly those who may be classified as related parties. Under the new rules, director salaries fall within the scope of Transfer Pricing (TP) scrutiny—an area many businesses are now navigating for the first time.

“The UAE’s transfer pricing framework is fully aligned with OECD standards, and that means companies must apply the arm’s length principle to all related-party transactions—including director compensation,” said Iftikhar Kazi, Business Manager at ADJC. “If a director qualifies as a related party, then their salary, bonuses, and benefits must be benchmarked to reflect what an independent party would accept under similar market conditions.”

Under UAE CT Law (Federal Decree-Law No. 47 of 2022), related parties include individuals who own or control 50% or more of a business, directors with significant decision-making authority who are also shareholders, and in some cases, even family members. If a director falls into this category, then any payments made to them must meet arm’s length criteria—typically substantiated through a benchmarking analysis or Local File documentation.

“Benchmarking director salaries is not just a compliance formality—it’s a necessity,” Kazi added. “Companies should rely on market data from sources such as Mercer, Willis Towers Watson, or regional salary surveys to ensure compensation falls within a defensible range. The Federal Tax Authority (FTA) may challenge excessive payments, especially if they fall outside the interquartile range commonly accepted in transfer pricing reports.”

According to Ministerial Decision No. 97 of 2023, companies with revenue above AED 50 million—or part of a multinational group with global turnover exceeding AED 3.15 billion—must maintain contemporaneous transfer pricing documentation, including any material director compensation paid to related parties. ADJC advises UAE businesses to proactively assess their internal remuneration policies, ensure benchmarking is up to date, and prepare robust documentation to withstand potential audits.

ADJC is a leading advisory firm in the UAE specializing in corporate tax, transfer pricing, and compliance advisory. With a dedicated team of experts and a deep understanding of regional regulations, ADJC supports businesses in achieving tax efficiency and regulatory clarity.

Honda Motorcycle & Scooter India Launches 50th Anniversary Gold Wing Tour

Mumbai, 30 May 2025: Celebrating half a century of iconic touring excellence, Honda Motorcycle & Scooter India (HMSI) today announced the launch of 2025 Gold Wing Tour – the 50th Anniversary Edition. As this legendary nameplate turns fifty, the Gold Wing Tour continues to set the benchmark in luxury touring. Bookings for the same are now open and it will be exclusively sold via the company’s premium BigWing Topline dealerships. The 50^th Anniversary Honda Gold Wing Tour has been priced at Rs. 39.90 lakh, ex-showroom Gurugram (Haryana).

Announcing the launch, Mr. Tsutsumu Otani, Managing Director, President & CEO, Honda Motorcycle & Scooter India, said, “We are ecstatic to introduce the 50^th Anniversary Gold Wing Tour in India. The launch of the 2025 Gold Wing Tour commemorates an iconic journey that began in 1975. Over the past five decades, the Gold Wing platform has evolved into a symbol of class, comfort, and endurance. The 50^th Anniversary Edition is a tribute to this unmatched legacy and a celebration of our commitment to engineering excellence for long-distance touring connoisseurs.”

Commenting on this announcement, Mr. Yogesh Mathur, Director, Sales and Marketing, Honda Motorcycle & Scooter India, said, “We are delighted to launch the 50^th Anniversary Gold Wing Tour for our Indian customers. With this special 50^th Anniversary Edition, we aim to offer a riding experience that perfectly blends innovation, luxury, and power. This is more than just a motorcycle – it’s a tribute to a generation of motorcyclists who believe in the art of luxury touring. We are glad to announce that the bookings for the new Gold Wing Tour are now open and customer deliveries of this flagship luxury tourer will begin in India from June 2025 onwards.”

50^th Anniversary Gold Wing Tour: The Art of Luxury Touring

The 2025 Gold Wing Tour boasts a cutting-edge style with a distinctive silhouette that balances aerodynamic efficiency and majestic road presence. Moreover, it gets a special Gold Wing emblem with 50^th Anniversary and ‘since 1975’ detailing, commemorating the motorcycle’s important milestone. Enhancing its modern design is a full-LED lighting system and airflow-optimized air vents which helps the bike slip through the air efficiently while still offering the great ergonomics that are a staple to long days on the open road.

In terms of equipment, the new Gold Wing Tour gets a feature-rich cockpit with a 7.0-inch full-colour TFT display that provides riding, navigation & audio information. Moreover, it now features first-in-class wireless Android Auto and Apple CarPlay for connectivity and gets a new welcome screen saying “Since 1975” when the motorcycle is turned on. Touring comfort is further elevated with an extended electric screen for excellent wind protection, improved audio system speakers to deliver rich sound at all speeds, Bluetooth connectivity with two USB type-C sockets, Tyre Pressure Monitoring System (TPMS) and a host of other features.

At the heart of the new Honda Gold Wing Tour is a massive 1833cc, liquid-cooled, 4 stroke, 24 valve, flat six-cylinder engine that churns out 93 kW power and 170 Nm of peak torque. The engine is paired with a 7-speed Dual Clutch Transmission (DCT). Engineered for long hauls and responsive acceleration, this engine offers seamless performance even under demanding touring conditions.

Coupled with advanced safety aids and innovative electronics for seamless performance, including a Throttle-By-Wire (TBW) system, dual-channel ABS, traction control and Airbag, it guarantees a ride that’s both thrilling and safe. The Gold Wing Tour comes with four riding modes – Tour, Sport, Econ and Rain, each with distinct settings that help tailor the riding character of the motorcycle.

The 50^th Anniversary Honda Gold Wing Tour will be available in a single DCT variant with Bordeaux Red Metallic colour and has been priced at Rs. 39.90 lakh (ex-showroom, Gurugram). Customers can book this flagship luxury touring machine exclusively at Honda’s premium BigWing Topline dealerships with deliveries commencing from June 2025 onwards.

Pepe Jeans London Makes a Stylish Comeback to Delhi’s Connaught Place

New Delhi, 30th May, 2025: In a celebration of style, Pepe Jeans London is thrilled to reopen its iconic store in Connaught Place — this time, with a refreshing new twist.

Spread across a sprawling 2,400 sq. ft., the reimagined store invites shoppers into a space where timeless fashion meets eclectic style and British heritage. With dedicated sections for men, women, and kids, the store brings together an extensive collection of 200+ denim styles and 500+ styles across tees, jackets, etc. All infused with the brand’s signature London attitude and youthful energy.

The store has a dedicated denim wall — An ode to our denim heritage, offering everything from core styles to trend-driven fits. But that’s not all. The store also features a wide range of footwear to grab on to — from everyday sneakers to statement styles that complement any look, head to toe.

Why Connaught Place?

Because some places never go out of style.

Connaught Place — with its grand architecture, cultural buzz, and steady footfall — remains one of Delhi’s most iconic hubs that aligns perfectly with Pepe Jeans London’s evolving vision. Reopening here was never a question — it was always the plan.

Come Rediscover Us: The new Pepe Jeans London Store is located at: F-10, Inner Circle, and Connaught Place, New Delhi – 110001

A Night to Remember: ‘Hari Se Hari Tak’ Celebrates Musical Greats in Delhi

Mumbai, 30th May 2025: Bonanza Group, one of India’s leading diversified financial services firms, is set to bring a wave of timeless melodies and musical brilliance to the capital with Soulful Nights of Music: Living Legends Hari Se Hari Tak.

As part of its continued commitment to enriching cultural and artistic platforms, Bonanza Group proudly supports this iconic musical evening, where legends take the stage to celebrate excellence, emotion, and heritage. Prepare to be transported through timeless melodies and musical mastery as Delhi hosts an unforgettable evening on Friday, 30th May 2025, at 7:00 PM onwards.

A convergence of legendary musicians and their enduring legacies, this celebration promises an extraordinary experience steeped in rhythm and cultural richness. The event will feature iconic voices who have shaped India’s sonic identity across generations, creating a night where every note carries a story and every performance resonates with soul.

Adding to the grandeur of the evening, the event will be graced by an illustrious lineup of dignitaries and special guests: Kapil Mishra, Minister of Law & Order and Cultural Affairs; celebrated actress Sharmila Tagore; Sangeeta Gupta & Dhruv Gupta of ShreeRam Jewellers; Rajiv Shukla, Vice President of BCCI; the legendary Ustad Amjad Ali Khan along with his family; renowned singer Mika Singh; the Munjal family of Hero Group; media pioneer Anuradha Prasad of BAG Films & Media Ltd; and strategic branding expert Jaydeep Gandhi of LDG International.

From the timeless classics of Padma Vibhushan Hariharan Ji and Pandit Hariprasad Chaurasia Ji to mesmerising performances that honour India’s musical diversity, Hari Se Hari Tak is more than just an event; it’s a heartfelt tribute to the spirit of music and the ambition that drives it.

Whether you’re a music lover, a cultural enthusiast, or someone seeking soul-stirring experiences, this event promises to leave you inspired and uplifted.

Date: Friday, 30th May 2025
Time: 7:00 PM onwards
Venue: Siri Fort Auditorium, Khel Gaon Road, New Delhi

TOEFL iBT Undergoes Major Transformation for Modern International Students

New Delhi, India, May 30th  2025: ETS, a global leader in education and talent solutions, today announced a series of experience-focused enhancements to the TOEFL iBT® test, designed to better serve the needs of today’s learners in India and around the world. Grounded in the organization’s mission to advance the science of measurement to power human progress, these updates are designed to make the TOEFL experience fairer and more accessible for students, without compromising the academic integrity and reliability trusted by institutions for over six decades.

Beginning May 30, 2025, test takers using the TOEFL iBT Home Edition will see immediate improvements to the support and structure of the at-home testing experience. Broader refinements to test adaptivity, turnaround time and score reporting will go into effect in January 2026. These changes focus on a more personalized, seamless experience, enhanced test security, reduced cancellations, and faster, more meaningful score delivery.

“I learned English outside of a formal classroom, so I understand the challenges of nontraditional learning,” said Omar Chihane, Global General Manager of TOEFL at ETS. “We’re transforming TOEFL to be more fair, flexible and relevant, so no student is held back by how or where they learned.

We’ve updated niche topics like Greek mythology with more real-world academic content that reflects today’s global student, relevant regardless of their background. Whether testing at a center in India or from home in Denmark, every student deserves a fair shot to demonstrate their English proficiency. That’s our mission.”

Experience Enhancements

A More Supportive At-Home Testing Experience (Starting May 30, 2025)

Key elements of the TOEFL iBT Home Edition have been redesigned to create a more seamless and supportive experience, updates include:

● ETS-trained in-house proctors for consistent support throughout the testing session

● AI-assisted identity verification (ENTRUST) to confirm test taker identity while easing check-in friction

● Simplified registration and test-day workflow, reducing stress and administrative hurdles

A Personalized, More Efficient Testing Experience (Starting January 2026)

ETS will implement a multistage adaptive design for the Reading and Listening sections of the TOEFL iBT. This means the test will adjust in real time based on how a student performs. Additionally, traditional content will be supplemented with modern, equitable topics. The tailored test will:

● Better reflect how students use English in real academic settings, like group discussions and project work

● Use content that is relevant, accessible and carefully reviewed to reduce cultural bias

Easier-to-Understand Scoring That Aligns with Global Standards (Starting January 2026)

In addition to their traditional scoring, TOEFL iBT will introduce an intuitive score scale of 1–6. This additional score will directly align with the Common European Framework of Reference for Languages (CEFR) – the world’s most widely recognized English proficiency framework, making score interpretation simpler and more consistent:

● Score reports will display both the 1–6 banded scale and the traditional 0–120 scale

● Institutions will receive training and resources to ensure a smooth integration

● Test takers can better connect TOEFL scores to prior learning and familiar benchmarks such as the CEFR

Other key enhancements include:

●Upgraded audio equipment: All test center headphones worldwide are being replaced with state-of-the-art custom ‘stereophones,’ developed in collaboration with renowned audio brand Koss.

● Expanded prep resources: New materials, including free items, designed to support the enhanced TOEFL iBT experience will be available starting in July.

● Faster score reporting: Students will receive scores within 72 hours or less, enabling them to meet application deadlines with greater confidence.

● Simplified registration: A redesigned process makes it easier to find and book a test—whether at a center or at home.

“Since 1964, the TOEFL iBT has helped millions unlock opportunities through global education and been the benchmark in high-stakes English testing,” said Rohit Sharma, Senior Vice President of Global Mobility Solutions at ETS. “We’re preserving that high bar for quality while evolving the experience around it – removing friction, improving fairness and making the process more inclusive for students worldwide.”

Built for Today’s Students. Trusted by the World’s Institutions.

Today’s learners expect testing that is flexible, efficient and relevant to their backgrounds and academic goals, while institutions require results, they can trust. TOEFL continues to deliver on both. With more than 2,300 test centers in 120+ countries and a secure, streamlined Home Edition, students benefit from greater access, faster results and scoring that reflects real-world communication.

Accepted by 100% of universities in the U.S., Canada, the U.K. and Australia, and by over 13,000 institutions worldwide, TOEFL iBT is the gold standard in high-stakes English testing. Its fair, modern assessment experience, strong security and CEFR-aligned scores give institutions the confidence they need to make admissions decisions and students the most reliable way to showcase their English proficiency.

Imagicaaworld Entertainment Limited’s EBITDA Climbs 67% to ₹176 Cr in Strong FY Performance

Mumbai, 30th May 2025: Imagicaaworld Entertainment Limited (BSE: 539056; NSE: IMAGICAA), India’s largest amusement & water park player, announced today its financial results for the fourth quarter and year ended March 31st, 2025, achieving its strongest-ever performance.

FY25 Performance Highlights :

• Revenue at Rs. 410 Crores compared to Rs. 269 Crores, growth of 52% ∙ EBITDA clocked of Rs. 176 crore; growth of 67% with EBITDA Margins of 43%
• PBT (before exceptional items) of Rs. 86 crores, up 152% YoY with a margin of 20%
• Footfalls stood at 2.7 mn compared to 1.4 mn, a growth of 98%

Q4FY25 Performance Highlights :

• Revenue at Rs. 94 Crores compared to Rs. 57 Crores, growth of 66% ∙ EBITDA clocked of Rs. 40 crore; growth of 131% with EBITDA Margins of 42%
• PBT (before exceptional items) of Rs. 15 crores, up 187% YoY with a margin of 16%
• Footfalls stood at 0.7 mn compared to 0.3 mn, a growth of 141%

Key Updates:

• During the quarter, we commenced operations at our Indore Water Park, strategically located in close proximity to the major cities of Indore and Ujjain. The park has witnessed encouraging visitor footfall since its launch, and we are actively ramping up our marketing initiatives while expanding our team to further drive growth.
• We have introduced 10 new rides at our Wet’n Joy Water Park in Lonavala, catering to visitors across all age groups. This expansion has not only increased the park’s overall capacity but also brought a sense of freshness and novelty to the experience. We are confident that these enhancements will drive higher footfalls and encourage repeat visits.
• Introduction of New Attractions: Launched the Imagicaa Arena Trampoline Park and two new shows at Sai Teerth – “Kaliya Mardan 5D” and “Mushak Maharaj” – enhancing the guest experience through innovative offerings.
• Raised ₹345 crore through a preferential issue to fund acquisitions, including the Indore park, and to support other strategic initiatives

Commenting on the Q4 & FY25 performance, Jai Malpani, Managing Director, Imagicaaworld Entertainment Limited said,

“We are pleased to report a strong performance for the year, with revenues reaching Rs. 410 crores in FY25, reflecting a robust growth of 52%. Our EBITDA margins have also improved significantly—from 39% in FY24 to 43% in FY25—driven by enhanced operational efficiencies and better synergies across our park locations

FY25 has been a defining year for Imagicaaworld — a year where we not only achieved record financial performance but also laid the foundation for transformative growth in the years to come. I am incredibly proud of how our teams have delivered excellence on every front, from operations and innovation to sustainability and strategic partnerships.

Importantly, none of this would be possible without the passion and dedication of our teams, who have worked tirelessly to deliver exceptional guest experiences and drive operational excellence. Welcoming over 27 lakh guests this year speaks volumes about the trust and love the Imagicaaworld brand commands across India

The successful launch of our Indore Water Park has delivered encouraging early results, and we are intensifying our operational and marketing efforts to further boost footfalls in the coming year. Looking ahead, we are actively engaging with various state governments and evaluating strategic locations for the development of new parks.

Our proven capability to operate multi-format parks across diverse geographies gives us a clear competitive advantage. With strong momentum and a focused growth strategy in place, we are confident that FY26 will be an even more successful year for the company.”

SAEL Attracts $132 Million Investment for Andhra Solar Project from Global Financial Giants

Mumbai, 30th May 2025: SAEL Solar MHP1 Pvt. Limited, a subsidiary of SAEL Industries Ltd., a clean energy company, has secured a debt finance amounting to of US$132 million from three global financial institutions — Asian Infrastructure Investment Bank (AIIB), New Development Bank (NDB), and Societe Generale for development of a solar power project in Andhra Pradesh.

Each institution has committed US$44 million debt funding towards the project, which was awarded through a competitive auction conducted by the Solar Energy Corporation of India (SECI). The investment will be utilized towards the execution and operationalization of the project, in alignment with India’s renewable energy objectives and the ongoing development of clean energy infrastructure in Andhra Pradesh.

Speaking on this, Laxit Awla, CEO, SAEL Industries Ltd. said, “These funds represent a major development for SAEL Industries as we continue our efforts to deliver sustainable clean energy solutions that facilitate India’s transition to a low-carbon future. The support from these institutions reflects confidence in our technical expertise and financial credibility to execute energy infrastructure. We are aligned with the state’s mission to drive forward the clean energy transition and economic development in Andhra Pradesh with this solar project.”

“By supporting SAEL solar project, Societe Generale is committed to enabling solutions that will create value for communities and the broader energy ecosystem, helping India achieve its goals of renewable energy generation adoption” said Dr. Katan Hirachand, Chief Executive Officer, Societe Generale India.

SAEL’s business spans solar and agri waste-to-energy projects across India. It has a portfolio of 6.5+ GW of Solar IPP projects, including both operational and under-development assets across India. The company operates solar module manufacturing facilities totalling a capacity of 3.5GW, utilizing TOPCon technology, further enhancing its vertical integration. SAEL also operates an agri waste-to-energy business, processing nearly 2 million tonnes of agricultural residue annually through 11 plants across Punjab, Haryana and Rajasthan, aimed to help combat pollution.

SAEL is an integrated renewable energy company with in-house Engineering Procurement and Construction (EPC), Operations and Maintenance (O&M), and manufacturing capabilities.