Chemplast Sanmar Limited announced plans to acquire 27% equity shares in Yesaryes Energy Private Limited. The deal, valued at ₹45 lakh, enables the chemical manufacturer to source green energy from a 37.5 MW solar power plant in Tamil Nadu.

The company entered into a Power Purchase Agreement with Yesaryes Energy and a Share Purchase Agreement with Veebee Yarnntex Private Limited. This strategic move allows Chemplast Sanmar to procure solar power under the Group Captive Power Plant Scheme for its own consumption.

Deal Structure and Objectives

The acquisition is structured as a cash transaction for a minority stake. The primary objective is to secure environment-friendly green energy to reduce the company's overall energy costs. The target entity, Yesaryes Energy, commenced commercial operations in April 2026 and operates solely within India.

Key details of the proposed investment include:

Regulatory and Operational Context

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirms that the acquisition does not constitute a related party transaction, as neither the promoter nor the promoter group holds any interest in the target entity. No governmental or regulatory approvals are required for this specific acquisition, which is expected to be completed within statutory time limits.

Yesaryes Energy was incorporated on January 20, 2025. As it began commercial operations only in April 2026, historical turnover data for the preceding three years is not applicable. The company’s business line involves the generation and transmission of electricity from solar energy.

What the Numbers Show

The financial structure of this deal highlights a low-capital entry into renewable energy infrastructure. With a consideration of ₹45 lakh for a 27% stake, the implied valuation of the entire entity is modest relative to typical asset-heavy power projects, likely reflecting the early stage of the target company which started operations just six months prior to the announcement. This suggests the investment is primarily operational, securing long-term power supply contracts rather than acquiring significant tangible assets at this stage.

Chemplast Sanmar Limited appointed Prashanth Vasu as a Non-Executive and Non-Independent Director with effect from October 9, 2026. The appointment fills the casual vacancy arising from the resignation of V S Radhakrishnan.

The Board approved Vasu's appointment based on the recommendation of the Nomination and Remuneration Committee. The decision was taken during a meeting held on October 9, 2026, which commenced at 4:10 pm and concluded at 4:25 pm. The appointment is subject to shareholder approval.

Profile and background

Prashanth Vasu brings extensive experience in industrial engineering and strategic management. He holds a Bachelor's degree in Mechanical Engineering from IIT Madras, a Master's in Industrial Engineering from Texas A&M University, and an MBA from the Indian School of Business, Hyderabad. His professional journey includes an 18-year tenure at McKinsey & Company as a Partner, followed by a role as President and SBU Head at Ramco Systems.

He joined The Sanmar Group in February 2024. Prior to his corporate leadership roles, he began his career at Sanmar PTI Filters in 1997. Vasu serves on the boards of several other entities within the group ecosystem, including Xomox Sanmar Limited and Chemplast Cuddalore Vinyls Limited.

Board composition changes

Following this appointment, the composition of the Board of Directors comprises five Independent Directors and three Non-Independent Directors. The company confirmed that Vasu is not related to any existing Director and is not debarred from holding office by SEBI or any other authority.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary and compliance officer, P Srinivasan, signed off on the intimation to BSE and NSE.