Visaka Industries spurts after Co's solar roofing product receives ALMM Certification

In a regulatory filing made during market hours today, the company stated that ATUM Solar Roofs has been certified under the Approved List of Models and Manufacturers (ALMM) by the Ministry of New and Renewable Energy (MNRE).

Visaka Industries markets its integrated solar panel roofing under the ATUM brand. The solar roofing system combines the functionalities of a conventional roof with the ability to generate renewable energy.

The MNRE has certified a list of solar photovoltaic (PV) module models and manufacturers known as the 'Approved List of Models and Manufacturers'.

Only the manufacturers of the listed solar PV models and modules may be utilised for solar projects in India, according to the ALMM regulation.

These include government initiatives, programs supported by the government, projects run by the government, initiatives under government control, as well as open access and net metering initiatives.

Visaka Industries is engaged in manufacturing asbestos cement sheets (ACS), non-asbestos boards and panels, synthetic fibre yarns and solar roofing products. VIL's business is divided into three major verticals: building products (ACS and non-asbestos boards & panels), textiles (synthetic fibre yarns), and solar roofing products. The company is the second-largest player in manufacturing ACS in India.

The company had reported a net loss of Rs 16.56 crore in the quarter ended September 2024 as against net loss of Rs 5.07 crore during the previous quarter ended September 2023. Sales declined 9.00% to Rs 308.36 crore in Q2 FY25 over Q2 FY24.