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Surana Solar Divests 49% Stake in Subsidiary Surana Technologies for Rs2.036 Cr

Hyderabad-based Surana Solar has announced the sale of a 49% equity stake in its wholly owned subsidiary, Surana Technologies, to Baidyanath Power for Rs2.036 crore. The transaction, expected to close by May 30, 2025, is a strategic move by Surana Solar, with the company confirming that it is not a related party transaction and was executed on an arm’s length basis.

Surana Technologies, currently developing a 54 MW solar project in Maharashtra, has not yet begun commercial operations and did not contribute to Surana Solar’s financials in the previous year. Post-transaction, the subsidiary will no longer be wholly owned but will still remain under Surana Solar’s control.

In FY25, Surana Solar reported a total income of Rs39.981 crore, up from Rs18.865 crore the previous year. Revenue sources included Rs9.751 crore from solar product sales, Rs28.791 crore from trading, and Rs0.259 crore from renewable energy sales. The company also posted a net profit of Rs585,000, reversing its previous year’s loss of Es1.259 crore.

Meanwhile, the solar sector witnessed Rs40,800 crore in corporate funding across 39 deals in Q1 2025, a 41% drop from Q1 2024. However, this marked a 20% rise from the previous quarter, reflecting a cautiously optimistic trend in solar investments.