Exxaro Tiles stock gained 5% after the company announced the successful installation of a 5 MW solar power project in Gujarat. The project will power its Talod plant and is expected to reduce energy costs by ₹5.67 crore annually.
India’s benchmark indices opened slightly higher on Tuesday, mirroring broader gains across Asian markets, as investors focused on the progress of U.S. trade negotiations ahead of President Donald Trump’s July 9 tariff deadline.
By 9:38 a.m. IST, the Nifty 50 had climbed 0.25 per cent to 25,580.65, while the BSE Sensex advanced 0.24 per cent to 83,806.17. Exxaro Tiles share price was locked in the 5% upper circuit on completion of the solar project.
Exxaro Tiles Limited, a prominent Indian manufacturer of vitrified and glazed tiles, has announced the successful installation of a 5 Megawatt (MW) DC solar power project. This initiative, located at Gorol, Idar, in the Sabarkantha District of Gujarat, marks a significant step in the company's commitment to sustainability, operational efficiency, and responsible manufacturing practices.
The project is being set up on land leased for a period of 25 years and 4 months, specifically to meet the electricity requirements of Exxaro Tiles' manufacturing plant in Talod, Gujarat, through captive consumption of renewable energy. The Talod plant currently has an annual energy requirement of approximately 21 million units. With the integration of solar power, Exxaro Tiles anticipates an estimated cost reduction of around 30% in energy expenses at this unit, leading to expected annual savings of approximately ₹5.67 crore in electricity costs. The current average energy cost for the company is ₹9 per unit.
“The solar project is a major step in aligning our business operations with global sustainability goals. It not only strengthens our cost-efficiency but also demonstrates our commitment to clean energy and environmental responsibility,” said Mr. Mukeshkumar B. Patel, Managing Director, Exxaro Tiles Limited.
The company's earlier communication regarding this initiative was dated May 28, 2024, when they first announced their plan to establish a solar power project to enhance energy efficiency and promote sustainability. This latest update confirms the successful acquisition of land and the installation of the project.
Exxaro Tiles specialises in the production of a wide range of products, including Double Charge Vitrified Tiles, Glazed Vitrified Tiles (GVT), Polished Glazed Vitrified Tiles (PGVT), Wall Tiles, Ceramic Products, and Big Format Slab Tiles.
The company operates two state-of-the-art manufacturing facilities in Talod (Sabarkantha District, Gujarat) and Padra (Vadodara District, Gujarat), with a combined installed capacity of 13,200,000 square meters per annum. These facilities are equipped with advanced machinery, robotic automation, and environmentally conscious manufacturing practices.
Exxaro Tiles has a robust pan-India distribution network of over 2,000 dealers and six display centres across major cities, and exports its products to more than 15 countries globally, including the United States, Canada, the African Continent, Gulf countries, Indonesia, Vietnam, Mexico, and Nepal.
Disclaimer: The article is for informational purposes only and not investment advice.
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