| Solar Business | Design, installation, commissioning, and maintenance of solar photovoltaic power plants and pumps | Strong government relations, in-house EPC expertise, large land bank for projects, and established solar installation track record | Government DISCOMs, farmers, commercial & industrial sectors (B2B primarily) | Operation and maintenance contracts; rooftop solar projects with tariff incentives | 224 | 90 | EPC contracts, power generation and sales, O&M services, and project development fees | Project-based contracts with recurring O&M revenues; tariffs as per power purchase agreements | Government solar policies (KUSUM), increasing power demand in agriculture and industry, technological advances | Includes 'Orenj' solar pumps and multiple solar power projects under MSKVY scheme |
| Trading | Procurement and distribution of components for internal use and resale | Leverages existing supplier relationships and distribution network | Internal subsidiaries and external customers (B2B) | High-value battery components and solar hardware trading | 26 | 10 | Sales of traded goods with margin | Margin on traded products, volume based sales | Growing EV and solar infrastructure demand, supply chain efficiencies | Trading of solar equipment, electric vehicle components, and related parts |
