DCM Shriram Consolidated Ltd has commenced renewable power injection for part of its Wind Solar Hybrid Renewable Power Project at its Kota Complex, with an average capacity of approximately 15 MW. The development was disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and marks a significant step in the company's transition away from coal-based power at the facility.

Project Background

In a prior communication dated 9th December 2024, DCM Shriram had informed the exchanges about its plan to set up a Wind Solar Hybrid Renewable Power Project of approximately 68 MW (~34 MW average) at its Kota Complex. The project is being executed through a Special Purpose Vehicle (SPV) company, JSW Renew Energy Thirty Two Limited, and is intended to replace the existing coal-based 40 MW power capacity at the site.

Project Overview

The key details of the Wind Solar Hybrid project are outlined below:

Key Highlights

• DCM Shriram Ltd has commenced renewable power injection for part of its Wind Solar Hybrid project at the Kota Complex.
• The current operational capacity stands at an average of approximately 15 MW, forming part of the larger 68 MW (34 MW average) project.
• The project is being developed through SPV JSW Renew Energy Thirty Two Limited, aimed at replacing the existing coal-based 40 MW power at the Kota facility.
• The disclosure was made by Company Secretary & Compliance Officer Deepak Gupta on 4th May 2026.

DCM Shriram has officially received board approval for its strategic joint venture with Teknor Apex B.V., marking a significant milestone in creating a globally competitive plastics polymer solutions platform under the new brand name PolyTek.

Board Approval and Strategic Partnership

The Board of Directors approved the execution of transaction documents for the joint venture between Shriram Polytech Ltd and Teknor Apex B.V. The company has made the mandatory disclosure under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, confirming the strategic partnership that will operate under the PolyTek brand.

Leadership Vision and Strategic Rationale

Ajay S Shriram, Chairman & Sr Managing Director of DCM Shriram Ltd, emphasized the partnership's strategic intent: "This partnership reflects our strategic intent to build future-ready businesses by combining global expertise with strong domestic capabilities. India is at an inflection point in advanced technologies and manufacturing, and through this joint venture, we aim to create a platform that delivers high-performance products and solutions at scale."

Donald Wiseman, Chief Executive Officer of Teknor Apex, added: "Our collaboration combines Shriram Polytech's presence in vinyl materials with Teknor Apex's formulating expertise to deliver high-performance solutions for one of Asia's largest industrial ecosystems."

Subsidiary Financial Performance

Shriram Polytech Ltd has demonstrated solid financial metrics, contributing meaningfully to DCM Shriram's overall operations. The subsidiary recorded strong performance indicators that support the joint venture's foundation.

Partner Profile and Market Positioning

Teknor Apex B.V., a wholly owned subsidiary of Teknor Apex Company based in USA, is a Dutch entity headquartered in Geleen, Netherlands, with operations in Genk, Belgium. The company primarily engages in manufacturing and selling thermoplastic elastomers in the European Union, Middle East, and Africa markets. Teknor Apex Company, founded in 1924 and headquartered in Pawtucket, Rhode Island, USA, is a global provider of plastic material science solutions.

Future Outlook and Market Opportunity

The PolyTek joint venture combines Shriram Polytech's strong domestic presence and manufacturing capabilities in vinyl compounds with Teknor Apex's global formulation expertise. This partnership aims to deliver high-performance, sustainable specialty polymer solutions for diverse industrial applications, leveraging India's emergence as one of the world's fastest-growing manufacturing and consumption hubs.

Consequent to this transaction, Shriram Polytech Ltd will cease to be a wholly owned subsidiary and will be reclassified as a joint venture of DCM Shriram, representing a significant milestone in the company's strategy to strengthen and grow its advanced materials polymer compounds portfolio while building global partnerships in high-growth sectors.