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Godawari Power to set up ₹7,000 crore steel plant in Chhattisgarh; shares gain 5%Godawari Power & Ispat Ltd to build 1 MTPA steel plant at Sarora in Raipur for ₹7,000 crore, funded via debt and internal accruals, boosting capacity and lifting its shares.By Gareema Bangad  March 24, 2026, 3:41:55 PM IST (Published)2 Min ReadGodawari Power & Ispat Ltd (GPIL) on Tuesday, March 24, said its board has approved the setting up of a 1 million tonnes per annum (MTPA) integrated steel plant to expand its presence in the steel sector.

The proposed facility will be located at Sarora village in Tilda tehsil of Raipur district, Chhattisgarh, and will manufacture finished steel products such as heavy and medium structural steel and wire rods, the company revealed in an exchange filing.

The project is estimated to cost around ₹7,000 crore and will be funded through a mix of debt and internal accruals in a 1:1 ratio, the company said in an exchange filing.

The plant is expected to be completed over a period of about three and a half years.

GPIL currently has an existing steel capacity of 0.5 MTPA at its Siltara facility in Raipur, operating at over 95% utilisation. The planned expansion is aimed at capitalising on the growing demand for structural steel in India.

The company said the new facility will strengthen its product portfolio and support long-term growth in the domestic steel market.

For the December quarter, the net profit of GPIL fell 1.1% year-on-year to ₹143.2 crore from ₹144.8 crore last year. Revenue dropped 12.2% YoY to ₹1,139 crore from ₹1,297 crore in Q3FY25. However, EBITDA rose 3.9% YoY to ₹230.3 crore from ₹221.6 crore in the year-ago period, and EBITDA margin expanded by 320 basis points to 20.2%, from 17%.

Shares of Godawari Power & Ispat Ltd were trading 4.86% up at ₹264.10 as of 2.32 pm following the announcement on Tuesday. The stock has delivered 41.58% returns over the last 12 months.Continue ReadingTagscapacity expansionGodawari Power & IspatRaipurshare market todaysteel plant