Shree Ajit Pulp to Install 17 MW Solar Capacity at Valsad Units for ₹62 Crore

Shree Ajit Pulp and Paper Ltd plans to install a combined 17 MW of solar power capacity across its two manufacturing units in Valsad, Gujarat, at a total estimated project cost of ₹62 crore. ScanX reported the plan on October 31, 2026. The company will fund the capital expenditure with a term loan facility of up to ₹50 crore.

Shree Ajit Pulp's Two-Phase Solar Build

Shree Ajit Pulp and Paper is a Vapi, Gujarat-based BSE-listed manufacturer of 100% recycled kraft paper, producing multi-layer test liners, fluting medium and semi-kraft liners for corrugated box converters, FMCG, automobile, pharmaceutical and paper-bag packaging customers in India and export markets.

The solar plan splits into a 10 MW plant at Unit 1 and a 7 MW plant at Unit 2. Completion of the Unit 1 plant is targeted for the end of the current financial year, while the Unit 2 facility is scheduled for completion in the next financial year.

The company said the investment aims to reduce electricity costs through captive renewable energy infrastructure. The filing states that the captive investment is poised to significantly offset operational power costs for the kraft paper manufacturer.

Shree Ajit Pulp's Funding and Scale Records

According to akta.pro company records, Shree Ajit Pulp completed a rights issue of partly paid-up equity shares, with allotment on February 26, 2024, strengthening its capital base to support expansion plans. The same records show half-year net sales of ₹349.31 crores for the period ending December 2025, representing 50.42% growth, and a turnover of ₹371.89 crores for financial year 2022-23 as per the Chairman's message.

Flood Suspension and Leadership Changes Before the Solar Plan

Shree Ajit Pulp suspended operations at its Gujarat plant on July 23, 2026, after historic flooding affected the facility, ScanX reported. The company accepted the resignation of Reema Kalani as an independent director effective August 24, 2026, citing personal commitments, and accepted the resignation of Chinmay Methiwala as Company Secretary and Compliance Officer effective September 9, 2026, filing the notice with BSE and appointing a new Company Secretary within prescribed time limits.

Shree Ajit Pulp's Unit 1 Restart Timeline

ScanX reported that Shree Ajit Pulp resumed operations at Unit 1 on a trial basis from the evening of October 11, 2026, following the flood disruption. The company has not disclosed specific financial impacts or the expected timeline for returning to full capacity utilization.