Synergy Green Industries has received a substantial acquisition disclosure from Solidarity Advisors Private Limited under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The investment management firm has increased its stake in the company through an open market transaction completed on January 20, 2026.

Acquisition Details

Solidarity Advisors Private Limited acquired 37,393 equity shares of Synergy Green Industries, representing 0.24% of the company's total equity share capital. The acquisition was executed through open market purchase, bringing the firm's total holding above the 5% threshold that mandates disclosure under SEBI regulations.

Shareholding Pattern Changes

The acquisition has resulted in a significant change in Solidarity Advisors' shareholding pattern in Synergy Green Industries. Prior to this transaction, the firm along with persons acting in concert held 7,71,777 shares, representing 4.97% of the total equity capital.

Company Information

Synergy Green Industries Ltd operates with an equity share capital comprising 1,55,43,000 equity shares of face value ₹10.00 each, totaling ₹15,54,30,000. The company's shares are listed on both NSE and BSE exchanges.

Regulatory Compliance

Solidarity Advisors Private Limited operates under a SEBI-registered Portfolio Management Services (PMS) license and acts as Investment Manager of an Alternative Investment Fund (AIF). The firm is not part of the promoter or promoter group of Synergy Green Industries. The disclosure was submitted by Ms. Naarah Myron Pereira, Head of Compliance, on January 21, 2026, within the stipulated timeframe prescribed under SEBI regulations.

Key Disclosure Parameters

The acquisition involved only equity shares carrying voting rights, with no encumbrances, warrants, or convertible securities involved in the transaction. The total diluted share capital of Synergy Green Industries remains unchanged at 1,55,43,000 equity shares following this acquisition.

Synergy Green Industries , a leading manufacturer of wind turbine castings, reported a 16.4% quarter-on-quarter revenue decline to approximately 74.00 crores in Q2. The company attributed this decrease primarily to customer scheduling delays and slower domestic wind industry offtake in the first half of the fiscal year. Despite the revenue drop, Synergy Green maintained its 20% full-year growth guidance, citing strong order book visibility.

Improved Margins Amid Revenue Decline

Despite the revenue setback, Synergy Green Industries demonstrated resilience in its profitability. The company's PBDIT (Profit Before Depreciation, Interest, and Tax) margins improved to 15.74% in Q2, up from 14.13% in the same period last year. This improvement was attributed to better export business growth and stable raw material prices.

Key Financial Highlights

Factors Influencing Performance

Several factors contributed to Synergy Green's Q2 performance:

1. Customer Scheduling Delays: The company faced delays in customer schedules, impacting revenue realization.
2. Slower Domestic Wind Industry: The first half of the fiscal year saw a slower-than-expected offtake in the domestic wind industry.
3. Export Growth: Despite domestic challenges, the company experienced growth in its export business.
4. Stable Raw Material Prices: Consistent raw material costs helped maintain profitability.

Outlook and Strategic Initiatives

Synergy Green Industries remains optimistic about its full-year performance, maintaining its 20% growth guidance. The company's confidence is based on:

1. Strong Order Book: Robust visibility in the order book supports the growth outlook.
2. Capacity Expansion: The company is in the process of expanding its foundry capacity from 30,000 MT to 45,000 MT per annum.
3. New Customer Acquisitions: Synergy Green has successfully onboarded new customers, including Envision and Nordex, alongside existing clients like Vestas, Siemens Gamesa, and GE Vernova.
4. Diversification: The company is exploring opportunities in non-wind segments, including mining, plastic injection, and pumps.

Management Commentary

V. Srinivasa Reddy, Executive Director of Synergy Green Industries, commented on the results: "While we faced some scheduling challenges in the first half, our strong order book and strategic initiatives position us well for the remainder of the fiscal year. The improved margins reflect our operational efficiency and the growing contribution from our export business."

Synergy Green Industries' ability to maintain its growth guidance despite the Q2 revenue decline demonstrates the company's resilience and strategic positioning in the wind turbine components market. As the domestic wind industry picks up pace and export opportunities expand, the company appears well-positioned to capitalize on the growing demand for renewable energy components.

Investors and industry observers will be watching closely to see if Synergy Green can meet its ambitious growth targets in the second half, particularly as it ramps up its expanded production capacity and leverages new customer relationships.