Nandan Denim Limited has officially informed the stock exchanges regarding a strategic move to bolster its renewable energy sourcing. In a board meeting held on April 17, 2026, the company approved an agreement to acquire a 6.1% equity stake in Opera Vayu (Narmada) Private Limited. This acquisition is part of a “Group Captive” renewable energy arrangement designed to secure long-term wind and solar power for its manufacturing operations.

The acquisition involves a cash investment of ₹4.00 Crores for 40,02,096 equity shares. This strategic investment aims to reduce power costs at the company’s Bareja Plant by procuring 4.3 MW of renewable power from a larger 48.1 MW hybrid project. The agreement ensures a competitive power supply for a duration of 25 years, with the transaction expected to be completed by June 30, 2026.

Nandan Denim Limited, a key player in the Ahmedabad-based Chiripal Group, is one of India’s largest denim fabric manufacturers. Incorporated in 1994, the company produces a wide array of textiles, including denim, shirting materials, and dyed yarns. In recent 2025 updates, the company received a reaffirmation of its credit ratings in December and successfully completed a face value stock split from ₹10 to ₹1 in late 2024 to enhance liquidity.

For the quarter ended December 2025, Nandan Denim reported a revenue of ₹499.53 Crores, marking a significant 46.06% decline compared to ₹926.15 Crores in the corresponding quarter of the previous year. The standalone net profit also saw a sharp drop of 54.86% to ₹2.97 Crores from ₹6.58 Crores YoY. The company’s shareholding pattern remains stable with promoters holding 51.01%, while famous individual investors from the Chiripal family, including Brijmohan Devkinandan Chiripal and Jyotiprasad Chiripal, maintain significant stakes.