Sunshine Capital Ltd. Board Approves Plans to Launch Solar Energy Finance Products
Sunshine Capital Ltd (BSE: 539574), a non-deposit-taking NBFC & a prominent player in the financial services sector, has announced its plans to launch flexible loan solutions aimed at encouraging homeowners to adopt solar energy. It aims to facilitate green energy adoption by consumers through accessible and flexible financing options. Its offerings are designed to simplify the process for homeowners to invest in solar panel installations, making green energy solutions more attainable. With flexible loan solutions, these products will empower individuals to transition to renewable energy sources, thereby reducing their carbon footprint and supporting sustainable living practices.
The management believes that the introduction of solar energy financing will not only accelerate the adoption of green energy but also create new revenue opportunities within the expanding green energy sector. It is enthusiastic about launching innovative solar financial solutions as part of its commitment to advancing green energy adoption. This initiative reflects its dedication to providing consumer financial solutions that positively impact both the environment and customers’ lives.
To further strengthen its brand and market appeal, the company is consolidating its offerings—including insurance broking, mutual fund distribution, retail loans, and solar financing—under a single, unified brand identity, which will be unveiled soon.
In November 2024, Sunshine Capital reported its unaudited financial results for the quarter and half-year ended September 30, 2024, showcasing exceptional performance. The company’s revenue for the quarter stood at ₹577.42 lakhs, a remarkable 101% increase year-on-year. Net profit for the quarter was ₹329.58 lakhs, a significant turnaround from the loss recorded in the same period last year.
In September 2024, Sunshine Capital announced two pivotal ventures. The first was its entry into the mutual fund distribution business, leveraging the rapid growth of the Indian Mutual Fund industry, which has seen its Assets Under Management (AUM) grow from ₹9.75 trillion in 2014 to ₹61.16 trillion in 2024. The company aims to provide a wide range of investment opportunities to customers, tapping into this expansive market to enhance its revenue streams. Alongside this, the company embraced fintech innovation to modernize its operations and customer interactions. By integrating digital platforms, Sunshine Capital plans to enhance market penetration, streamline processes, and deliver a superior customer experience across both its mutual fund and insurance broking segments. Furthermore, a comprehensive branding initiative was launched to strengthen the company’s market presence and attract a broader client base.
Earlier in the same month, Sunshine Capital made headlines with its foray into the insurance broking business. To complement this, the company announced its intent to explore listing on the National Stock Exchange (NSE). An NSE listing would elevate Sunshine Capital’s market visibility and facilitate access to institutional investors, boosting its capital base and supporting its long-term growth ambitions.
Established in 1994, Sunshine Capital Limited has grown to become a prominent NBFC.Incorporated on 11th July 1994 under the Companies Act, 1956, the Company is a Non-Deposit Taking Non-Banking Financial Company (ND-NBFC), registered and regulated by the Reserve Bank of India (RBI) with Registration No. B-14.01266 issued on 25th September 1998 in New Delhi.
Being ISO 9001:2015 certified, Sunshine Capital Limited is committed to enhancing Customer satisfaction through the effective application of its quality management system, Which includes processes for continual improvement, ensuring conformity to customer and Applicable statutory and regulatory requirements. The company emphasizes robust business Practices, transparent policies, and a strong customer-centric approach. Sunshine Capital Limited aspires to create value and balanced growth for all its stakeholders while keeping its Clients at the centre of its business efforts.