SG Mart Forays into Renewables Sector with Supply of Solar Mounting Structures, Secures Orders worth Rs. 266 Cr

SG Mart, a leading player in the B2B construction material space, has successfully marked its entry into the renewable energy sector by launching the supply of solar module mounting structures, under the brand APL Apollo SunSteel. In a significant milestone, the company has already received confirmed orders amounting to Rs. 266 Cr (excluding GST), from multiple Independent Power Producers (IPPs), signalling strong market acceptance of its new product line.

To meet the rising demand for solar mounting solutions, driven by India's renewable energy ambitions, the company is leveraging its robust sourcing and distribution network. Supplies have commenced, and deliveries for initial orders are underway.

"We are receiving an encouraging response from IPPs and EPC contractors across the country. The demand momentum validates our decision to diversify into the renewable space," said Shiv Bansal, Joint Managing Director of SG Mart. "Supported by SG Mart's strength of steel procurement, which is a raw material for solar structures, and pan-India distribution, we are well positioned to scale this segment rapidly."

This strategic move aligns with SG Mart's vision to diversify into sunrise sectors, while capitalizing on its strong steel procurement capabilities and established relationships with IPPs, EPC contractors, and other key stakeholders in the infrastructure ecosystem.

Source : Equity Bulls

Keywords

SGMArt B2B ConstructionMaterial RenewableEnergySectory SolarModule MountingStructures APLApolloSunSteel