Operating in the domain of green and renewable energy, this partnership will focus on leveraging the expertise of RAMA Steel Tubes to provide steel structures along with single-axis trackers, and will also focus on dual-axis trackers to be expanded in the future essential for solar projects undertaken by Onix Renewable.

"RSTL has expanded its expertise and developed specialised steel structures and tracker tubes which will serve as the backbone for greenfield solar projects. We are proud to announce our entry into the Green Energy segment and are determined to deliver products that ensure the highest standards of reliability, durability, and performance, which are critical to the long-term success of solar greenfield projects,” the company said in a statement.

Richi Bansal, WTD & CEO, looked forward to contributing to the enhanced structural integrity and performance of your projects. The positive impact on our EBITA and the establishment of RSTL’s position in the renewable energy sector further highlight the benefits of this collaboration.

The CEO stated that the reliability and lifespan of these solar projects are heavily dependent on the quality and durability of the steel structures which play a critical role in ensuring the long-term success and efficiency of such projects.

"The prospects of this Strategic Collaboration with Onix Renewable Ltd to deliver top-quality solar energy solutions. Together, we will pave the way for a brighter and more sustainable future,” he added.

Rama Steel Tubes is engaged in the business of manufacturing of Steel Pipes and related products.

The company reported 10% decline in consolidated net profit to Rs 6.36 crore in Q1 FY25 as against Rs 7.07 crore posted in Q1 FY24. Revenue from operations fell 30.7% year on year to Rs 216.64 crore during the quarter ended 30 June 2024.