The company received the certificate of incorporation on 19 February 2025, issued by the Ministry of Corporate Affairs.
According to an exchange filing, TU30 has been incorporated with the objective of carrying on the business of manufacturing, processing, producing, assembling, altering, purchasing, refining, treating, reducing, distilling, blending, purifying, storing, holding, transporting, using, experimenting with, supplying, selling, importing, exporting, trading, and generally dealing in hydrogen, its by-products and derivatives such as ammonia, chemicals, compressed natural gas, and mineral substances.
Additionally, the company will be involved in the generation, transmission, distribution, procurement, sale, trading, import, export, and storage of power, hydrogen, and derivatives like ammonia, as well as engaging in all forms of non-conventional, renewable, green, hydro, and electrical power generation and energy-related activities.
The acquisition cost for TU30 is Rs 5,00,000 (50,000 equity shares of Rs 10 each), with 100% of the equity share capital held by TGEPL.
Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission, and distribution.
The company’s consolidated net profit jumped 32.19% to Rs 475.66 crore in Q3 FY25 as against with Rs 359.83 crore posted in Q3 FY24. Revenue from operations grew by 2.09% year on year to Rs 6,499.38 crore in the quarter ended 31 December 2024.
The scrip shed 0.28% to Rs 1,255.25 on the BSE.