January 29, 2015 8:04 AM ET

Semiconductors and Semiconductor Equipment

Company Overview of Lanco Solar Private Limited

Company Overview

Lanco Solar Private Limited manufactures and markets photovoltaic panels. The company provides multi and mono wafers, cells, and modules. Additionally, it offers crystalline silicon. The company was incorporated in 2008 and is based in Gurgaon, India. Lanco Solar Private Limited operates as a subsidiary of Lanco Infratech Limited.

Plot no. 229

Udyog Vihar, Phase-1

Gurgaon,  122 016

India

Founded in 2008

Phone:

91 12 4469 1000

Key Executives for Lanco Solar Private Limited

Lanco Solar Private Limited does not have any Key Executives recorded.

Lanco Solar Private Limited Key Developments

Lanco Solar Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2014

Lanco Solar reported earnings results for the second quarter and six months ended September 30, 2014. For the quarter, the company reported revenue of INR 370 million against INR 705 million a year ago. EBITDA was INR 136 million against LBITDA of INR 218 million a year ago. Adjusted EBITDA was INR 166 million against INR 95 million a year ago. For the six months, the company reported revenue of INR 1,100 million against INR 1,367 million a year ago. EBITDA was INR 426 million against LBITDA of INR 98 million a year ago. Adjusted EBITDA was INR 456 million against INR 509 million a year ago.

Lanco Solar Private Limited's Solar Cell Making Plant to Start by 2014

Lanco Solar Private Limited would kick-start the 300-MW photovoltaic (PV) solar manufacturing plant in special economic zone (SEZ) in Rajnandgaon of Chhattisgarh 2014. At present, the plant is manufacturing only solar modules. The Group is investing INR 30,000 million for the unit. The manufacturing project is expected to generate $300 million revenue for the cash-starved Lanco Group. The raw material, metallurgical silicon, will be imported. Lanco has tied up with US-based GT Solar to provide key technology to be used in the plant. The solar manufacturers in India, under the banner of SEMI India, want the Government to incentivise local manufacturing in the latest phase of National Solar Mission by reserving some of the capacities to be added through use of local equipments. The players sought a free and fair competition.

Lanco Infratech Mulls Financing

Lanco Infratech Limited is seeking financing. Lanco Infratech is looking for private equity investors in order to fund its 500-MW solar capacity additions. V Saibaba, Chief Executive Officer of Lanco Solar Private Limited, said, "Lanco needs funds to meet a plan of adding 500 megawatts annually in three years, with 350 megawatts to be built for customers and the rest coming from its own plants."

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