DCM Shriram Invests Rs 105 Crore in New Renewable Power Firm

The Rs 105 crore outlay is modest relative to DCM Shriram's market capitalization of roughly Rs 18,000 crore.

DCM Shriram's business portfolio includes chlor-vinyl chemicals and agri-rural operations. The hybrid power project targets the chemicals unit in Bharuch, which is among the company's most energy-intensive operations. The hybrid setup combines multiple renewable sources.

The filing did not disclose the expected cost savings from the project or the tariff at which power will be supplied.

DCM Shriram shares closed at Rs 1,234.50 on the National Stock Exchange on Friday, down 0.3% for the session. The stock has gained 12% over the past 12 months.