Rhetan TMT Ltd Share Price – BSE

Steel, Small Cap

Net profit of Rhetan TMT rose 233.82% to Rs 2.27 crore in the quarter ended September 2024 as against Rs 0.68 crore during the previous quarter ended September 2023. Sales declined 52.72% to Rs 4.95 crore in the quarter ended September 2024 as against Rs 10.47 crore during the previous quarter ended September 2023.

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Rhetan TMT will hold a meeting of the Board of Directors of the Company on 9 October 2024.

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The Board of Rhetan TMT at its meeting held on 20 September 2024 has decided to explore opportunities to strengthen its position in the steel industry through strategic acquisitions. To kick-start this process, it will be entering into initial non-commitment agreements with targeted companies, allowing the Company to conduct due diligence.

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The Board of Rhetan TMT at its meeting held on 20 September 2024 has approved the establishment of a solar power plant with a capacity of up to 2 MW. This facility will occupy an area of approx 20,000 square meters and will be located in the village of Untarda, Taluka Bayad, District Aravalli.

A Letter of Intent (LOI) has already been executed to initiate this project. The Company will proceed to submit an application to the Gujarat Energy Development Agency (GEDA) to secure the necessary approvals. Following this, a Technical Feasibility Report (TFR) will be obtained to assess the project's viability. Subsequently, a lease agreement for the designated property will be executed to facilitate the development of the solar power plant.

The solar power plant is designed specifically for captive consumption at the TMT Bars factory in Kadi, Gujarat.

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