Urja Global Limited has announced a significant move in the solar energy sector by entering into a joint venture agreement with Solarmint Energies Pvt Ltd. The partnership, formalized on November 20th, 2025, aims to leverage the strengths of both companies in the manufacturing, branding, marketing, and nationwide distribution of solar PV modules under the URJA brand.

Key Details of the Joint Venture

Strategic Collaboration

The joint venture combines Solarmint's manufacturing expertise with Urja's market reach, brand strength, and sales network. This strategic partnership is designed to enhance Urja Global's position in the solar energy market by leveraging Solarmint's production capabilities.

Roles and Responsibilities

• Solarmint Energies: Will manufacture URJA-branded solar panels
• Urja Global: Will handle marketing, sales, and nationwide distribution of the products

Impact on Company Structure

According to the disclosure, this contractual joint venture agreement will not result in any change in the management or control of Urja Global Limited. The company has clarified that there is no shareholding involved in the entity with whom the agreement is executed.

Financial Implications

While specific financial details were not disclosed, the agreement stipulates that pricing will be on a cost-plus-profit basis. This model suggests a balanced approach to sharing the economic benefits of the partnership.

Market Outlook

This joint venture positions Urja Global to potentially expand its footprint in the solar energy market in India. By combining manufacturing capabilities with an established brand and distribution network, the company aims to strengthen its competitive position in the renewable energy sector.

As the renewable energy landscape continues to evolve, strategic partnerships like this may play a crucial role in shaping the future of solar energy production and distribution in India.

Urja Global 's subsidiary, Sahu Minerals and Properties Limited, has secured a favorable ruling from the Commissioner of Income Tax (Appeals) in a significant tax case. The CIT(A) has deleted a Rs. 42.90 crore addition made under Section 56(2)(viib) of the Income Tax Act, which was related to alleged excess share premium.

Key Details of the Tax Appeal

Valuation Dispute and Resolution

The crux of the dispute centered around the valuation of shares. The company's share valuation of Rs. 550 per share was initially questioned by the Assessing Officer (AO). However, a subsequent report from the District Valuation Officer (DVO) supported the company's property-based valuation.

• The DVO's valuation amounted to Rs. 22.55 crore
• This valuation matched the assessee's property-based valuation
• The CIT(A) relied on the DVO report and directions from the Income Tax Appellate Tribunal (ITAT)

Based on these findings, the CIT(A) concluded that the share valuation was justified and partially allowed the appeal, effectively deleting the Rs. 42.90 crore addition.

Impact on Urja Global

According to the disclosure made by Urja Global Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company stated that there is no material impact on its financials, operations, or other activities as a result of this ruling.

This favorable decision for Sahu Minerals and Properties Limited, and by extension for Urja Global, underscores the importance of proper valuation methodologies in tax-related matters. It also highlights the role of regulatory bodies in resolving disputes between taxpayers and tax authorities, especially in cases involving complex financial transactions such as share premium valuations.