Taylormade Renewables: Limited (TRL) has teamed up with Indian Oil Corporation Limited (IOCL) for some exciting projects. Their goal? To make energy use better and work towards Net Zero Carbon Emissions. This partnership is a big deal for TRL, and it’s reflected in their shares reaching a high of Rs 670.55 on the National Stock Exchange.
The first project from this collaboration involves TRL working on a special Solar Thermal Energy System (STES) with cool dual-axis tracking parabolic dishes. What does it do? Well, it helps heat water for boilers at the Asaoti Lube Oil Blending Plant using the sun’s power, cutting down on the need for traditional fuels.
This unique STES is made just right to meet IOCL’s tough energy efficiency standards. With a deal worth Rs 1.59 Crore, they’re starting with five parabolic dishes that should really heat up the boiler water. If this works well, it could be used in more IOCL refineries and even other public sector projects, helping India move closer to its Net Zero Carbon Emissions goal. More info about Taylormade Renewables just made a secure deal with Indian Oil Corp!
The partnership between TRL and IOCL shows how industries are focusing more on eco-friendly energy solutions. TRL is taking charge, designing and making systems based on IOCL’s detailed needs. This teamwork might become a model for future projects in renewable energy. More info about Taylormade Renewables just made a secure deal with Indian Oil Corp!
Investing Pro Insights Now, let’s look at some key points about Taylormade Renewables Limited (TRL) and Indian Oil Corporation Limited (IOCL) from Investing Pro. IOCL is a big player in the Oil, Gas & Consumable Fuels industry. They’ve been paying dividends for 23 years straight, a sign of a solid investment (Investing Pro Tips 5 & 8). They also use their money wisely, showing off a high return on invested capital (Investing Pro Tip 0).
Checking the latest info from InvestingPro, as of Q2 2024, IOCL seems to have reasonably priced shares with a good P/E Ratio of 12.38 and a Price/Book ratio of 1.71. They’re also making good money, with a revenue of 91859.44M USD and a Gross Profit Margin of 15.39% (InvestingPro Data).
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