Monte Carlo Fashions Limited (MCFL) has announced its decision to incorporate a wholly owned subsidiary to undertake solar power generation and related activities. This strategic move follows the company's receipt of multiple Letters of Award (LOAs) from Madhya Pradesh Urja Vikas Nigam Ltd. (MPUVNL) for setting up solar PV based Power Plants with an aggregate capacity of 35 MW (AC) under the Surya Mitra Krishi Feeders Scheme — PM KUSUM-C in Madhya Pradesh.

The Board of Directors approved the incorporation of this subsidiary, named MCFL Energy Projects Private Limited, via Resolution No. CIR/MCFL/BOARD/01/2025-26 dated January 16, 2026. The new entity will be 100% owned by Monte Carlo Fashions Limited and will focus on the execution of these solar power projects. The decision was made considering the scale of operations, regulatory requirements, and the need for focused execution of these projects. The incorporation is in line with the company's strategy to expand its presence in the renewable energy sector.