Godawari Power & Ispat Sees Stock Surge After CareEdge ESG Upgrade and Major BESS Expansion

Mumbai (Maharashtra) [India], December 30: Godawari Power & Ispat Ltd (GPIL) on Monday witnessed a notable market reaction as shares rose 4.40% to Rs 267 from the previous close of Rs 256.30, driven by a significant ESG rating upgrade and fresh capital deployment into green manufacturing. CareEdge ESG raised GPIL's score sharply from 51.0 to 76.6 and upgraded its rating symbol from CareEdge-ESG3 to CareEdge-ESG1, a move market participants say underscores the company's strengthened environmental, social and governance practices and has helped bolster investor confidence in the mid-cap steel major. The stock now trades well within a 52-week range of Rs 145.55 to Rs 290, reflecting both recent momentum and longer-term appreciation.

The ESG endorsement coincides with a strategic investment of Rs 73.95 crore into subsidiary Godawari New Energy to establish a large-scale Battery Energy Storage System (BESS) manufacturing facility in Maharashtra. Management has increased the project's target capacity fourfold — from an initial 10 GWh to 40 GWh — with the first 20 GWh phase slated to commence operations by early FY2027-28. The Rs 1,025 crore expansion will be executed using a streamlined single-line production design intended to reduce structural costs and improve margins, positioning GPIL to capitalise on rising demand for energy storage solutions tied to the green energy transition.

Financially, GPIL carries a market capitalisation in excess of Rs 17,000 crore and has delivered striking shareholder returns, posting a three-year stock price CAGR of 60% and multibagger gains of 260% over three years and about 1,000% over five years. Foreign institutional investors have modestly increased their holdings, with FII stakes rising to 6.63% in the September quarter of FY26 from 6.51% in June 2025, signalling continued overseas interest in the company's growth and sustainability trajectory.

Incorporated in 1999 and headquartered in Raipur, Chhattisgarh, GPIL is the flagship of the Hira Group and a prominent player in India's integrated steel sector. The company operates a fully backward-integrated value chain — from iron ore mining at its Ari Dongri and Boria Tibu mines to the production of pellets, sponge iron, steel billets and high-value wire rods — and is noted for strong captive power capabilities that leverage waste heat recovery, biomass and solar energy to enhance cost efficiency and reduce carbon intensity. As GPIL accelerates diversification into green energy manufacturing alongside its core steel operations, the company's upgraded ESG profile and large-scale BESS ambitions position it as a notable contender in India's industrial and sustainability landscapes.
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