Craftsman Automation invests in solar power for group captive scheme

Craftsman Automation Limited has made an equity investment of INR 42,000 in Event Green Power Private Limited (EGPPL) for solar power under a Group Captive Scheme, as per the Electricity Act, 2003. This investment, comprising 4,200 equity shares of face value INR 10 each, grants Craftsman Automation a 1.91% shareholding in EGPPL. The transaction is not a related party transaction.

EGPPL, incorporated on November 30, 2021, operates in the generation and transmission of power from its registered office in Coimbatore, Tamil Nadu. EGPPL’s authorized capital stands at INR 3,000,000, with a paid-up capital of INR 2,194,000.

EGPPL has demonstrated consistent growth in turnover, reporting INR 0.73 Crores for FY 22-23, INR 2.02 Crores for FY 23-24, and INR 4.57 Crores for FY 24-25. This investment aligns with Craftsman Automation's operational needs by securing solar power, enhancing energy efficiency.