Latest news with #Maharashtra-based
Time of India
2 days ago
- Business
- Time of India
16 power substations to get battery energy storage system
Patna: Power cuts in at least 16 cities of Bihar will be a thing of past soon. The state electricity department has planned to supply power through a battery energy storage system that will maintain supply for four hours like a home inverter from 16 substations in case of any fault. The Union ministry of new and renewable energy has approved a battery energy storage system project of 500MWh capacity in Bihar. This project will be operated under 'Viability Gap Funding' (VGF) scheme under the state plan. The Centre has approved a total VGF amount of Rs 135 crore for this project at a rate of Rs 27 lakh per MWh or 30% of the total cost capital, whichever is less. State energy minister Bijendra Prasad Yadav termed it a "historic step" towards creating a flexible, sustainable and consumer-friendly power infrastructure. "Bihar is steadily progressing towards energy self-reliance under the leadership of CM Nitish Kumar. This project will be a milestone in our pursuit of technological innovation and environmental stewardship," he said. These battery systems of 125MW capacity will be installed in the grid substations of 16 cities to supply about 500MW of electricity for four hours, in case of power supply disruption from the plant or grid. The project will be completed by Bihar State Power Generation Company Limited. Batteries of 5 to 20MW capacity will be installed at each grid substation in Muzaffarpur, Motihari, Bettiah, Bhagalpur, Sitamarhi, Fatuha, Mushahari, Udakishunganj, Jamui, Asthawan (Nalanda), Jehanabad, Rafiganj, Sheohar, Siwan, Kishanganj and Banka. So far, tenders have been finalised for six grid substations. The process is going on for the remaining places. It is believed that this project will not only ensure uninterrupted quality power supply, but will also help in balancing the difference in demand and supply during peak hours. Maharashtra-based energy solutions firm Prostram has received a Letter of Intent from Bihar State Power Transmission Company Limited. Patna: Power cuts in at least 16 cities of Bihar will be a thing of past soon. The state electricity department has planned to supply power through a battery energy storage system that will maintain supply for four hours like a home inverter from 16 substations in case of any fault. The Union ministry of new and renewable energy has approved a battery energy storage system project of 500MWh capacity in Bihar. This project will be operated under 'Viability Gap Funding' (VGF) scheme under the state plan. The Centre has approved a total VGF amount of Rs 135 crore for this project at a rate of Rs 27 lakh per MWh or 30% of the total cost capital, whichever is less. State energy minister Bijendra Prasad Yadav termed it a "historic step" towards creating a flexible, sustainable and consumer-friendly power infrastructure. "Bihar is steadily progressing towards energy self-reliance under the leadership of CM Nitish Kumar. This project will be a milestone in our pursuit of technological innovation and environmental stewardship," he said. These battery systems of 125MW capacity will be installed in the grid substations of 16 cities to supply about 500MW of electricity for four hours, in case of power supply disruption from the plant or grid. The project will be completed by Bihar State Power Generation Company Limited. Batteries of 5 to 20MW capacity will be installed at each grid substation in Muzaffarpur, Motihari, Bettiah, Bhagalpur, Sitamarhi, Fatuha, Mushahari, Udakishunganj, Jamui, Asthawan (Nalanda), Jehanabad, Rafiganj, Sheohar, Siwan, Kishanganj and Banka. So far, tenders have been finalised for six grid substations. The process is going on for the remaining places. It is believed that this project will not only ensure uninterrupted quality power supply, but will also help in balancing the difference in demand and supply during peak hours. Maharashtra-based energy solutions firm Prostram has received a Letter of Intent from Bihar State Power Transmission Company Limited.
Time of India
3 days ago
- Business
- Time of India
Sula Vineyards charts path to 100% sustainable winemaking amid climate pressures
Climate change is affecting nearly every region in the world. Nashik, known as the wine capital of India, is also feeling the heat. In the last 15 years, almost 50 seasons have been affected by climate change, according to Anil Ghanwat , President, Shetkari Sanghatana, a Maharashtra-based farmers' union. 'Sometimes there are heavy rains, sometimes there is a drought, sometimes the temperature drops below zero degrees in some areas,' he said. Excessive heat is resulting in overripe grapes and unbalanced wines, while increased temperature raises the risk of fungal diseases in grapevines. 'This calls for active efforts needed to be taken by farmers,' he emphasised. Sula Vineyards , a major winery in Nashik, is working on mitigating the impacts of climate change on its grape farms. Given the frequent droughts and water scarcity in the region, CEO Rajeev Samant said that they are focusing on water management. Sula has employed advanced water recycling, considering India's monsoon-dependent climate, and it aims to reduce water usage per bottle produced. Not just water management, Sula is also working on energy conservation. 'The methane that is captured during the treatment of wastewater is transformed into clean electricity. This reduces the reliance on natural resources that are subject to fluctuations and enhances the climate resilience of the operation as a whole,' Samant said. Sula works with over 2,800 acres of contracted vineyards and has processed more than 11,000 tonnes of grapes in FY25. According to the company, it is committed to achieving net zero emissions by 2050. The company is a member of the International Wineries for Climate Action and also part of the United Nations-led 'Race to Zero' global campaign. Live Events Samant claimed that Sula Vineyards has incorporated sustainability into every aspect of winemaking. Samant claimed that Sula Vineyards has incorporated sustainability into every aspect of winemaking. In FY25, Sula relied on solar power for 65% of its energy needs; this number, as per Samant, is likely to increase to 75% in FY26. Power-saving initiatives, such as the Burkert temperature control system, have already resulted in a saving of 37% of power in the cellar, and further growth is anticipated, he said. According to him, Sula consumed 5% less water per case in FY25. The company aims to bring it down by 6% in FY26, as it looks to utilise 20% recycled water, he said. 'We have also installed a methane capture facility that generated 35,000 power units in FY25 and aims to increase by 44% in FY26. We also have a localised glass bottle supply chain, which reduces its carbon footprint and supports local economies. The company increased its use of rewash bottles by 24% in FY25 and aims to do so to an even greater extent,' he said. Low-alcohol wines The wine manufacturer has also dabbled in low-alcohol wines, which offer a sustainable and healthier alternative to health-conscious consumers and have considerably less environmental impact. Sula's Source Moscato and Chenin Blanc Reserve are known for lighter, refreshing profiles. 'There is a shift towards light, approachable wines that seem to be gaining traction. Moving towards lower-alcohol wines can be good for consumers, especially from a health and wellness standpoint, as well as from an environmental sustainability perspective. These wines need fewer resources to be put into fermentation and greatly more freedom regarding harvesting and ripening of the grapes,' he said. Sula has also dabbled in low-alcohol wines, which offer a sustainable and healthier alternative to health-conscious consumers and have considerably less environmental impact. However, he highlighted the challenges of sustaining these green efforts due to the high upfront costs of technologies like solar panels, methane capture systems, and EV fleet conversion. 'Scaling these efforts while maintaining cost-efficiency and consistent product quality can also be complex,' he said. 'Moreover, as climate change intensifies, managing grape quality and yield sustainably remains a long-term challenge,' he added. Nevertheless, Sula maintains an optimistic outlook for the future. In FY26 and the following years, the company aims to reduce power consumption per case sold by an additional 11%, increase its EV fleet share from 45% to 55%, achieve a 6% reduction in water usage per case while enhancing water recycling to 20%, and realise a 44% increase in electricity generation from methane capture. 'These actions will aid Sula in becoming a pioneer in sustainable innovation while also assisting in meeting the set target of achieving carbon net-zero by 2050,' he said.
Time of India
12-06-2025
- Time of India
Steel businessman, wife, daughter & driver killed in car crash on Jhansi-Kanpur highway
Lucknow: Four people, a steel businessman, his wife, their daughter, and the driver, were killed in a high-speed car crash on the Jhansi-Kanpur highway near Khilli village late Wednesday. The businessman's father and three children were seriously injured in the accident and are currently undergoing treatment. The accident occurred when an XUV700 vehicle, travelling at an estimated speed of 80–90 km/h, lost control and rammed into a divider before overturning. The family was returning to Maharashtra after celebrating Bakrid in their hometown Siddharthnagar. The deceased have been identified as Ubaidur Rahman (43), a Maharashtra-based steel businessman, his wife Ashma (40), their daughter Usna Parveen (15), and their driver Amir (45). According to eyewitnesses, the impact was so severe that the vehicle was crushed, leaving all eight occupants trapped inside. Local residents, alerted by the cries for help, rushed to the spot and attempted to rescue the family. Driver Amir was found critically wedged between the steering wheel and bonnet. Despite frantic efforts and the arrival of a JCB machine to break open the car, Amir succumbed after nearly an hour of being trapped. Meanwhile, the injured — Ubaidur's father Shahbuddin (70), sons Abdullah Bahadur Rahman (10) and Aneedur Rahman (8), and daughter Eshya (6) — were rushed to a nearby Community Health Centre (CHC). Their condition is stated to be serious but stable. The bodies of the deceased were kept at the hospital morgue awaiting the arrival of family members. SP, Jhansi, BBGTS Murthy, said that preliminary investigations suggest the accident may have been caused by driver's fatigue. Ubaidur's friend Mahbulla, who was travelling in a separate vehicle towards Mumbai, said, "I was ahead of them in my car. I suspect the driver might have dozed off. I've informed the family — they're on their way." Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
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Business Standard
12-06-2025
- Business
- Business Standard
Patil Automation IPO opens on June 16: Check GMP, price band, key dates
Patil Automation IPO: The initial public offering (IPO) of Maharashtra-based welding and line automation solutions company Patil Automation will open for public subscription on Monday, June 16. The ₹69.61 crore issue comprises a fresh issue of 5.8 million equity shares. There is no offer-for-sale (OFS) component. According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), not less than 35 per cent for retail investors, and 15 per cent for non-institutional investors (NIIs). Here are the key details of Patil Automation IPO Patil Automation IPO price band, lot size Patil Automation has set the price band for its IPO in the range of ₹114 to ₹120 per equity share. The minimum lot size for an application is 1,200 shares. A retail investor would require a minimum investment amount of ₹1,44,000 considering the upper price band, to bid for one lot. The minimum investment required for high-net-worth individuals (HNIs) is 2,88,000 for two lots or 2,400 shares. Patil Automation IPO key dates According to the RHP, the three-day subscription window will, tentatively, close on Wednesday, June 18, 2025. The anchor investor bid period shall be one working day before the issue opening date. The basis of the allotment of shares is likely to be finalised on Thursday, June 19, 2025. Shares of Patil Automation will be listed on the NSE SME platform, tentatively, on Monday, June 23, 2025. Patil Automation IPO registrar, lead manager Purva Sharegistry is the registrar of the issue. Seren Capital is the sole book-running lead manager of the issue. Patil Automation IPO objective According to the RHP, the company plans to utilise ₹62 crore from the net issue proceeds for capital expenditure towards the setup of a new manufacturing facility and ₹4 crore repayment of a portion of certain borrowings availed by the company. The remaining funds will be used for general corporate purposes. Patil Automation IPO grey market premium (GMP) The unlisted shares of Patil Automation were trading at ₹135 per share in the grey market on Thursday, commanding a GMP of ₹15 or 12.5 per cent compared to upper band price, according to sources tracking unofficial markets. About Patil Automation Incorporated in 2015, Patil Automation is an automation solutions provider serving industrial clients, primarily in the automotive sector. The company is engaged in designing, manufacturing, testing and installing customised automation systems such as welding lines (spot welding, MIG and TIG), assembly lines, material handling machinery and special-purpose machinery, tailored to meet the specific requirements of its clients' production facilities. Its client base primarily comprises Automotive Original Equipment Manufacturers (OEMs), Tier I suppliers to Automotive OEMs and manufacturers of automotive components and sub-components, who seek to establish, expand, upgrade, modify or repair their production setup. Its manufacturing facility is located in the MIDC Chakan area of Village Sudumbre, Tehsil Maval, District Pune in Maharashtra. Patil Automation financial overview In the financial year 2024-25 (FY25), Patil Automation reported revenue from operations of ₹118.05 crore, up 2.4 per cent from ₹115.27 crore in the previous financial year. Its profit after tax (PAT) stood at ₹11.7 crore, up nearly 50 per cent from 7.83 crore in the FY24.
Time of India
11-06-2025
- Business
- Time of India
United Spirits, United Breweries and other liquor stocks slide up to 6% after Maharashtra hikes excise duties
Shares of liquor companies such as United Spirits , United Breweries , and Allied Blenders and Distillers slipped up to 6% on Wednesday after the Maharashtra government approved sweeping changes to liquor taxation and regulation aimed at boosting excise revenues. United Spirits fell as much as 6.2% to Rs 1,510.35 on the BSE, while United Breweries slipped 1.5% to Rs 2,034.60. Allied Blenders and Distillers also lost ground, declining 4.1% to Rs 426.75. The Maharashtra state cabinet, chaired by Deputy Chief Minister Devendra Fadnavis, on Tuesday approved a significant hike in excise duties on liquor alongside a series of structural reforms to tighten oversight and expand revenue collection. The measures are expected to add approximately Rs 14,000 crore annually to the Excise Department's revenue. Following the cabinet's decision, several liquor companies have reportedly raised prices across categories in the state. This comes as the excise duty on Indian-made foreign liquor (IMFL) with a declared manufacturing value of up to Rs 260 per bulk litre has been revised from three times to 4.5 times the manufacturing value. Similarly, the duty on country liquor has increased from Rs 180 to Rs 205 per proof litre. Consumers across Maharashtra will face higher prices at both retail outlets and hospitality establishments. The minimum retail price for a 180 ml bottle of country liquor has increased to Rs 80 from Rs 70. Indian-made foreign liquor has gone up to Rs 205 from Rs 110–115, while premium foreign liquor now starts at Rs 360, up from Rs 210. A new category, Maharashtra-made liquor, has been introduced, with a minimum price of Rs 148 for a 180ml bottle. Live Events New category, licensing fee hikes approved The cabinet also approved the creation of a new liquor category called Maharashtra-made liquor, which will be grain-based and produced exclusively by Maharashtra-based manufacturers. Producers will need to register new brands under this classification. In parallel, licensing costs for businesses operating in the liquor trade have been revised upward. Sealed foreign liquor retail licences (FL-2) will now incur an additional 15% fee, while hotel and restaurant licences (FL-3) will be subject to a 10% hike. Modernising regulation with AI and expansion To enhance regulatory oversight, the government has established a new divisional office in Mumbai, along with six new superintendent offices across key districts — Mumbai suburbs, Thane, Pune, Nashik, Nagpur, and Ahilyanagar. The organisational revamp includes the creation of 1,223 new posts, comprising 744 fresh positions and 479 supervisory roles. An integrated control room will also be set up, equipped with an AI-based system to monitor liquor manufacturing, distilleries, and wholesale activity across the state. The move stems from recommendations submitted by a secretary-level study group that reviewed policies and best practices from other states. Also read | Maharashtra cabinet gives nod to hike excise duty on liquor, grant statutory status to SC commission ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
