SG Mart Limited (formerly Kintech Renewables Limited) has officially forayed into the renewable energy sector, marking a strategic diversification from its core construction material business. The company has launched its new product line — solar module mounting structures — under the APL Apollo SunSteel brand and already secured confirmed orders worth Rs 266 crore (excluding GST), signalling a robust entry into the green energy supply chain.

The announcement, made on June 12, 2025, was shared via a formal exchange filing addressed to BSE Limited (Scrip Code: 512329).

Strong Market Response

The company has received orders from multiple Independent Power Producers (IPPs), indicating early success and positive market acceptance. Deliveries for these orders have already begun, reinforcing SG Mart's ability to rapidly scale execution.

“We are receiving an encouraging response from IPPs and EPC contractors across the country. The demand momentum validates our decision to diversify into the renewable space,” said Shiv Bansal, Joint Managing Director, SG Mart Limited.

Leveraging Steel Expertise for Green Energy

SG Mart is utilising its strong steel procurement infrastructure and pan-India distribution network to support the new vertical. Steel, being a critical raw material for solar module mounting structures, gives the company a competitive edge in fulfilling solar project requirements both efficiently and cost-effectively.

The shift into the solar segment is aligned with India’s renewable energy expansion goals, and SG Mart's expertise in steel sourcing puts it in a strategic position to become a reliable partner for IPPs, EPC (Engineering, Procurement, and Construction) contractors, and other players in the green energy sector.

Strategic Vision for Diversification

This move is part of SG Mart’s larger strategy to enter sunrise sectors and reduce dependency on traditional construction materials alone. With its roots deep in B2B trading of construction materials, particularly steel, the company is now taking a proactive role in supporting India’s green infrastructure transformation.

SG Mart’s venture into solar aligns with national ambitions to ramp up solar capacity under government-led missions like:

• National Solar Mission

• PM-KUSUM Scheme

• Green Energy Corridor Project

By entering the renewables market, SG Mart aims to create long-term shareholder value while contributing meaningfully to India's sustainable development goals.

Company Background

SG Mart Limited, previously known as Kintech Renewables Limited, operates out of:

• Registered Office: H. No. 37, Ground Floor, Hargovind Enclave, Vikas Marg, Delhi-110092

• Corporate Office: A-127, Sector-136, Noida, Gautam Buddha Nagar, Uttar Pradesh-201305

The company has historically been a leader in the B2B construction material domain, with a strong footprint in steel service centres and trading operations across India. Its decision to expand into renewable infrastructure reflects its adaptability and long-term growth vision.

Outlook and Growth Potential

SG Mart's entry into solar infrastructure coincides with an inflection point in India's clean energy journey, where demand for solar components like mounting structures is expected to surge.

Key factors that may drive SG Mart’s renewable segment growth include:

• Government mandates for solar installations in residential, commercial, and industrial spaces

• Accelerated capacity additions by leading IPPs

• Increased adoption of solar in rural and agricultural sectors

• Private investment in green infrastructure

SG Mart's early traction in the form of Rs 266 crore orders suggests it has the operational readiness and credibility to deliver at scale.

Conclusion

With its foray into solar mounting structures under the APL Apollo SunSteel brand, SG Mart is taking a decisive step towards becoming a key player in India’s renewable energy infrastructure ecosystem. The secured orders totalling Rs 266 crore affirm market trust in the company’s new offering and validate its diversification strategy.

Backed by steel procurement strength, robust distribution, and industry partnerships, SG Mart is well-positioned to capitalise on the solar boom, fuelling both business growth and sustainable impact.

As India’s solar power targets expand, SG Mart's new venture could evolve into a high-growth, high-impact business line that complements its traditional operations and opens up newer revenue streams.

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