I think related party transactions + 2% of topline goes to the promoter + sector overhang
Sharing a broader perspective on the royalty discussion, without taking a view either for or against it.
In several businesses—especially those dealing with large infrastructure projects, overseas sovereign customers, and government-linked entities—there are certain costs of doing business that are not always easy to neatly classify or transparently show in company financials. These can include things like facilitation costs, protocol-related expenses, logistics and hospitality for large foreign or sovereign clients, and other operational frictions that come with executing projects across jurisdictions.
Many companies choose to structure such expenses through mechanisms like royalty, brand usage fees, or promoter-linked entities, rather than running everything directly through the P&L. This is not unique to one company or sector and is something seen across multiple industries and geographies.
From an investor’s standpoint, it’s understandable to be uncomfortable with limited visibility. At the same time, it’s also worth acknowledging that not all operational realities are easily understood or visible by investors sitting at a distance, especially in businesses operating in emerging markets and regulated environments.
Personally, I am neither defending nor criticising such arrangements here—only highlighting that some costs exist in the real world that don’t always fit cleanly into textbook corporate governance frameworks. Each investor will have to decide how much weight to give this while assessing management quality and long-term alignment.
Would be good to hear how others think about this trade-off between transparency and practical execution realities.
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this order value is less than 1.5 cr rs but a special press realese for such small order is beyond my understanding maybe want to build fake hype. this export order is received from FVE lifecare and with this company they did signed 500 MW SOLAR + 500 MWH bess letter of intent [LOI] 5 months ago and did a big MOU with them and they only received order worth 1.5 cr till now.
my advise would be to fellow forum members that THIS IS VERY HIGH RISK COMPANYTOO MANY FINANCIAL IRREGULATERIES AND LOOSE CORPORATE GOVERNANCE
disc- not a buy/sell reco. DYOR
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Order update for kpi green
BESPA duration is 12 years, with commissioning scheduled within 18 months from the agreement’s effective date.
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Is this a disclosed order that the company had made on the exchange?
It was updated by GUVNL and once the regular processes are done it will be updated by company.
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SJVN’s auction to develop 600 MW ISTS-connected wind power projects has discovered an L1 tariff of INR 3.64/kWh.
KPI Green Energy has won the largest share of 300 MW at a tariff of INR 3.64/kWh.
Urdhvaga Renewables India Project (UPC Renewables) and Adyant Enersol (Datta Infra) have secured 120 MW and 110 MW, respectively, at a tariff of INR 3.64/kWh.
Lambent Energy (Eight) (Resolven – formerly Zelestra India) has bagged the remaining 70 MW, out of the quoted 180 MW, at a tariff of INR 3.65/kWh, under the bucket-filling method.
The tender for this was floated in September 2025.
The scope of work includes developing these projects along with the transmission network up to the interconnection/delivery point. The developer must also install and maintain GPS enabled automatic weather station (AWS).
The tender proposed to promote only commercially established and operational technologies to minimise the technology risk and to achieve the timely commissioning of the projects. Wind turbines to be used in the project must be listed in the Approved List of Models and Manufacturers.
The successful bidder must maintain a capacity utilisation factor (CUF) of at least 22 percent.
For Resolven, the project will be an ISTS-connected project in Karnataka and is scheduled for commissioning in December 2027, the company stated, further adding that with this, its under-construction pipeline now reaches 2.2 GW, while the company’s operational capacity stands at about 600 MWp. It was updated by SJVN and once the regular processes are done it will be updated by company…
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