Kalahridhaan Trendz's board to discuss diversification in solar energy sector

KalahridhaanTrendz Limited (KTL) is set to hold a board meeting where it will discuss the company’s strategic plans to diversify into the booming solar energy sector. According to an exchange filing, the board will also consider an interim dividend of up to 25 per cent for the financial year 2024-25.

The global push towards renewable energy has made solar power one of the fastest-growing industries worldwide. By venturing into solar energy and related activities, KTL is positioning itself to tap into a market that is expected to see exponential growth in the coming years. 

"This strategic diversification could open up new revenue streams for the company, reduce its dependency on the textile sector, and enhance its long-term sustainability. The move aligns with global sustainability trends and could significantly increase KTL’s market share in the renewable energy space, potentially transforming the company into a multifaceted conglomerate with interests in both textiles and energy.

The board will fix the record date for the interim dividend.

Earlier, KalahridhaanTrendz secured a Rs 1.15 billion (Rs 115 crores) order from Beximcorp, a prominent manufacturer of globally recognized fashion brands.