Oswal Pumps to set up 1.2 GW solar cell facility for ₹456 Cr

Oswal Pumps Limited announced that its subsidiary, Oswal Solar Energy Private Limited (OSEPL), will establish a 1.2 GW solar cell manufacturing facility using TOPCon technology. The facility, expected to be operational by April 2028, will cater to OSEPL's in-house module production, ensuring a reliable supply of DCR cells and reducing reliance on volatile spot markets. The project cost is estimated at ₹456 crore, with ₹296 crore funded by debt and the remaining ₹159.85 crore from unutilized IPO proceeds. This backward integration aims to strengthen the group's cost structure, competitive positioning in government programs, and overall profitability.