PNN
Ahmedabad (Gujarat) [India], June 29: In an era marked by significant environmental challenges, the Ahmedabad-based Pashupati Group has positioned itself to the vanguard of the environmental fight. conservation and sustainability. Under the strategic leadership of founder and promoter Saurin Parikh, the group's innovative initiatives in solar and wind energy underline its strong commitment to a sustainable future.
* Solar initiatives generate approx. 19 million units/year while wind energy projects contribute 17 million units/year* Focusing on sustainability and quality, Pashupati is committed to creating a responsible supply chain with its “Farm to Fabric” approach .
Recognizing the urgent need to address global environmental issues, Pashupati Group has invested significantly in renewable energy, installing 2.7 MW of rooftop solar panels and a 9.5 MW ground-mounted solar project, generating 19 million units of green energy per year. In addition, the group has established a 2.7 MW wind and solar hybrid project and a 2.7 MW independent windmill, which produces 17 million units of green energy every year. These initiatives significantly reduce dependence on non-renewable energy sources and set a standard for corporate environmental responsibility.
Elaborating on the group's initiatives, Saurin Parikh, Founder and Promoter, Pashupati Group, said, "These solar projects transcend power generation and set a benchmark for corporate environmental responsibility. Integration of wind energy not only improves energy efficiency but also ensures stability and substantial energy production, aligning with the company's strategic objectives of sustainable energy utilization. These initiatives are vital to mitigate the environmental impact of industrial operations. "Pashupati Group is a leader in production. sustainable fiber and works with more than 50,000 farmers in 46 villages. The group farms more than 25,000 acres of land and produces more than 11,000 metric tons of raw cotton. This extensive network underlines Pashupati Group's commitment to sustainability and quality in the fiber industry.
Pashupati is committed to creating a responsible supply chain with its "Farm to Fabric" approach, focusing on sustainability and quality. The group emphasizes best practices in cotton farming, ensuring the production of high-quality, sustainable cotton. Pashupati aims to offer premium quality cotton fabrics at affordable prices while maintaining zero emissions through its solar and wind energy projects. The company's clientele includes major global brands such as IKEA and Primark.
Green projects of the Pashupati GroupThe company collaborates with farmers and producer organizations to improve sustainable cotton production and provides the necessary training. The company adheres to global initiatives and standards, such as the Better Cotton Initiative, the Primark Sustainable Cotton Programme, the Global Organic Textile Standard and regenerative organic farming, to source and produce sustainable fabrics.
Pashupati Cotspin Ltd, the flagship company of the Pashupati Group, has announced strong financial results for the second half and fiscal year 2024. For the six-month period ended March 31, 2024, the company reported a 141 percent increase in net profit, reaching Rs. 8.08 crore, compared to Rs. 3.35 crore during the same period last year. Total revenue for H2FY24 grew by 48 percent, amounting to Rs. 402.87 crore, up from Rs. 271.86 crore in H2FY23. The company also reported an EPS (diluted) of Rs. 5.29 for H2FY24, a significant increase of Rs. 2.20 in the same period last year.
For the financial year ending March 31, 2024, Pashupati Cotspin Ltd recorded a 114 per cent year-on-year increase in net profit, totaling Rs. 8.30 crore, compared to Rs. 3.87 crore in the previous fiscal year. Total revenue for FY24 also witnessed a growth of 48 percent, reaching Rs. 669.09 crore, up from Rs. 451.87 crore in FY2023. EPS (diluted) for FY24 was reported at Rs. 5.43, compared to Rs. 2.54 in the previous year. The company has recommended a final dividend of Rs. 0.75 per share (7.50 percent) for the financial year ended May 31, 2024.Pashupati Group is dedicated to comprehensive environmental management along with its renewable energy initiatives. The group uses advanced waste management techniques to reduce greenhouse gas emissions and recycle waste, including converting biowaste into 35,000kg of fertilizer per year. Additionally, the company focuses on water conservation through rainwater harvesting and wastewater treatment. It also promotes biodiversity by planting more than 2,000 trees on its campus.
The group prioritizes sustainability, governance and social responsibility through various initiatives, including community outreach, cancer awareness, educational support and employee wellbeing. Additionally, the group's animal welfare programs exemplify its comprehensive approach to corporate social responsibility. Its relentless focus on renewable energy and sustainability sets a powerful precedent for industries around the world. Under the leadership of Saurin Parikh, the group continues to drive a future where economic growth and environmental stewardship are mutually inclusive.
Ahmedabad (Gujarat) [India], June 29: In an era marked by significant environmental challenges, the Ahmedabad-based Pashupati Group has positioned itself to the vanguard of the environmental fight. conservation and sustainability. Under the strategic leadership of founder and promoter Saurin Parikh, the group's innovative initiatives in solar and wind energy underline its strong commitment to a sustainable future.
* Solar initiatives generate approx. 19 million units/year while wind energy projects contribute 17 million units/year* Focusing on sustainability and quality, Pashupati is committed to creating a responsible supply chain with its “Farm to Fabric” approach .
Recognizing the urgent need to address global environmental issues, Pashupati Group has invested significantly in renewable energy, installing 2.7 MW of rooftop solar panels and a 9.5 MW ground-mounted solar project, generating 19 million units of green energy per year. In addition, the group has established a 2.7 MW wind and solar hybrid project and a 2.7 MW independent windmill, which produces 17 million units of green energy every year. These initiatives significantly reduce dependence on non-renewable energy sources and set a standard for corporate environmental responsibility.
Elaborating on the group's initiatives, Saurin Parikh, Founder and Promoter, Pashupati Group, said, "These solar projects transcend power generation and set a benchmark for corporate environmental responsibility. Integration of wind energy not only improves energy efficiency but also ensures stability and substantial energy production, aligning with the company's strategic objectives of sustainable energy utilization. These initiatives are vital to mitigate the environmental impact of industrial operations. "Pashupati Group is a leader in production. sustainable fiber and works with more than 50,000 farmers in 46 villages. The group farms more than 25,000 acres of land and produces more than 11,000 metric tons of raw cotton. This extensive network underlines Pashupati Group's commitment to sustainability and quality in the fiber industry.
Pashupati is committed to creating a responsible supply chain with its "Farm to Fabric" approach, focusing on sustainability and quality. The group emphasizes best practices in cotton farming, ensuring the production of high-quality, sustainable cotton. Pashupati aims to offer premium quality cotton fabrics at affordable prices while maintaining zero emissions through its solar and wind energy projects. The company's clientele includes major global brands such as IKEA and Primark.
Green projects of the Pashupati GroupThe company collaborates with farmers and producer organizations to improve sustainable cotton production and provides the necessary training. The company adheres to global initiatives and standards, such as the Better Cotton Initiative, the Primark Sustainable Cotton Programme, the Global Organic Textile Standard and regenerative organic farming, to source and produce sustainable fabrics.
Pashupati Cotspin Ltd, the flagship company of the Pashupati Group, has announced strong financial results for the second half and fiscal year 2024. For the six-month period ended March 31, 2024, the company reported a 141 percent increase in net profit, reaching Rs. 8.08 crore, compared to Rs. 3.35 crore during the same period last year. Total revenue for H2FY24 grew by 48 percent, amounting to Rs. 402.87 crore, up from Rs. 271.86 crore in H2FY23. The company also reported an EPS (diluted) of Rs. 5.29 for H2FY24, a significant increase of Rs. 2.20 in the same period last year.
For the financial year ending March 31, 2024, Pashupati Cotspin Ltd recorded a 114 per cent year-on-year increase in net profit, totaling Rs. 8.30 crore, compared to Rs. 3.87 crore in the previous fiscal year. Total revenue for FY24 also witnessed a growth of 48 percent, reaching Rs. 669.09 crore, up from Rs. 451.87 crore in FY2023. EPS (diluted) for FY24 was reported at Rs. 5.43, compared to Rs. 2.54 in the previous year. The company has recommended a final dividend of Rs. 0.75 per share (7.50 percent) for the financial year ended May 31, 2024.Pashupati Group is dedicated to comprehensive environmental management along with its renewable energy initiatives. The group uses advanced waste management techniques to reduce greenhouse gas emissions and recycle waste, including converting biowaste into 35,000kg of fertilizer per year. Additionally, the company focuses on water conservation through rainwater harvesting and wastewater treatment. It also promotes biodiversity by planting more than 2,000 trees on its campus.
The group prioritizes sustainability, governance and social responsibility through various initiatives, including community outreach, cancer awareness, educational support and employee wellbeing. Additionally, the group's animal welfare programs exemplify its comprehensive approach to corporate social responsibility. Its relentless focus on renewable energy and sustainability sets a powerful precedent for industries around the world. Under the leadership of Saurin Parikh, the group continues to drive a future where economic growth and environmental stewardship are mutually inclusive.
