Shakti Pumps - solar shakti (power)!

One more thing which needs an explanation is they are setting a solar cell line but no solar module capacity.

With whom they will be partnerning to convert the solar cells to solar module , again it does not lead to not complete backward integration as there will be a third party dependancy.

While margins are less in solar module could be one of the reasons but just setting up a cell line will not address their complete backward integration and they will still have to send it to someone else to get the module

Disc : Not invested but tracking closely

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