Welcome to On the Record with me, Shireen Bhan. Every year my guest joins me to talk about the road ahead for the diversified conglomerate. Joining me once again is Sanjiv Goenka to lay out the roadmap for what he has in store for a whole host of his companies. Mr. Goenka, it's always a pleasure. Many thanks for joining us on CNBC TV18. It was last July when we spoke and you laid out a very clear roadmap for each of your businesses. Before I get to the individual businesses, I want to understand the sense of confidence and optimism you have with respect to the larger economy and each of your businesses today. The finance minister spoke about the government doing all it can to get industry to invest more. Has the government been able to unleash the animal spirit, so to speak?
Well, thank you Shireen for having me once again. It's always a pleasure. Since we met last time, I think the confidence has grown a few notches in both our ability to implement what we had laid out, and that is largely because of what the government has done in terms of policy, in terms of environment, in terms of approach. I think this whole Modi vision of build for the world in India, and believe in yourself, believe in India, you know, as an Indian believe in what you're capable of — that confidence, that self-assurance, that backing that the government gives has been great not only for us at RPSG but I think for the entire corporate India. And that's why you will see lots of corporates committing to large-scale capital expenditure of a kind that has never been committed. So since we met last year, I remember telling you that our target is a two lakh crore market cap, that we are now fairly confident of doing. Our internal targets have actually been scaled up since then, despite the stock markets not being at their best. And we had talked about investments. That number has gone up considerably. As we move forward, the implementation part of each company, each project, each improvement is actually a lot more secure because we've made a very good start, and now we are that much more confident. So from a plan, it is now an action.
Well, let's put some numbers down then. You've pointed out that internally you have decided to revise upwards a lot of the targets you had spoken of. So from an investment point of view, from a capex point of view, what should we now expect given the sense of confidence you just shared with us?
So over the next five years, what we are committing to is a total capex of about one lakh crores, largely in the energy area. It'll also go into chemicals, but chemicals is not that capex intensive as you know. Renewables is going to be a large part of our investment. When we met last year we talked of three gigawatt. Now 3.2 gigawatt is under implementation, advanced stages of implementation. Another four gigawatt is getting close to closure. And our target is to get to about 10 gigawatt over the next six years.
10 gigawatt by six years. So would it be fair to say that at this point in time the renewable push is what is most exciting for you within the group? Of course, not to say that you're ignoring the rest of your businesses, but both in terms of investments as well as the kinds of bets you intend to make, it's the renewable side of the business that will get the lion's share of the attention and resources.
Well, renewables is certainly something that's very attractive for us. And let me make an announcement today on CNBC TV18. It's not only solar and wind hybrid projects that we're implementing. We propose to get into module and cell manufacturing. Our first gigawatt of module capacity goes on stream in the next 45 days. So that's something we've been quietly implementing. And in the next three years, there'll be three gigawatt of cell and three gigawatt of module capacity that will go on stream.
Well, thank you for breaking the news here on CNBC TV18. So you heard it first right from Sanjiv Goenka on CNBC TV18. But you know, what will the benefits be on account of these bets that you're making? You just gave us an outline of what you expect over the next few years both in terms of cell as well as the module. How do you see this benefiting your business and also the numbers for you going forward?
Well, one is that given the thrust we're doing on renewables, a large part of it will come into our own facilities. But the market for these products is growing. I mean, the more companies invest and the more self-reliant India becomes, the more cells and modules manufactured in India will get sold. So therefore, we do believe that there's a very good business model for that.
I want to come back to the push on renewables and understand what it could potentially mean as far as your own bottom line is concerned, in terms of cost savings, because you do intend to disproportionately move towards being able to use your own renewable energy.
11 more exchanges in this transcript
Sign in free to read the rest of this interview. No card required.
Goenka, S. (2025, September 18). Committing Total Capex Of ₹1 Lk Cr In 5 Yrs; Confident Of Reaching ₹2 Lk Cr Mkt Cap: Sanjiv Goenka [Interview transcript]. CNBC-TV18. CEOInterviews.AI. https://ceointerviews.ai/interview/1206033/
MLA
Sanjiv Goenka. "Committing Total Capex Of ₹1 Lk Cr In 5 Yrs; Confident Of Reaching ₹2 Lk Cr Mkt Cap: Sanjiv Goenka." CNBC-TV18, 18 Sep. 2025. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/1206033/.
BibTeX
@misc{goenka2025_1206033,
author = {Sanjiv Goenka},
title = {Committing Total Capex Of ₹1 Lk Cr In 5 Yrs; Confident Of Reaching ₹2 Lk Cr Mkt Cap: Sanjiv Goenka},
howpublished = {Interview transcript, CNBC-TV18. CEOInterviews.AI},
year = {2025},
month = {sep},
url = {https://ceointerviews.ai/interview/1206033/},
note = {Speaker-attributed transcript with timestamps}
}
