GPIIL enters into LNG supply pact with GAIL for upcoming pellet plant

Godawari Power and Ispat Ltd (GPIL) on Wednesday (December 11) said it has entered into a seven-year agreement with GAIL (India) Ltd for the supply of regasified liquefied natural gas (RLNG).

The company has entered into an agreement with GAIL (India) Ltd and exchanged the document at Raipur on 10.12.2024 for the supply of RLNG Gas for the company's upcoming pellet plant in the ordinary course of business for 7 years," the company said in a regulatory filing.

Godawari Power and Ispat reported a 38.1% year-on-year (YoY) decline in net profit at Rs 159.1 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Godawari Power and Ispat posted a net profit of Rs 256.9 crore.

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The RLNG will support operations at Godawari Power's upcoming pellet plant. The agreement was formalized on December 10, 2024, at Raipur. GPIL, part of the Raipur-based Hira Group of Industries, manufactures long products of steel, mainly steel wire. It also produces sponge iron, billets, and ferroalloys, among others.

Shares of Godawari Power and Ispat Limited ended at Rs 234.60, up by Rs 4.20, or 1.82%, on the BSE.

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