Mumbai: Shakti Pumps (India) Ltd has received a major order worth Rs 443.78 crore from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). In an exchange filing, the company announced that it has been empanelled to supply and install 16,025 off-grid DC solar water pumping systems (SPWPS).
This order comes under the Magel Tyala Saur Krushi Pump Yojana / PM-KUSUM B Scheme, a programme focused on providing farmers with solar-powered irrigation solutions across the state.
What the Project Includes?
Under this contract, Shakti Pumps will design, manufacture, supply, transport, install, test, and commission all 16,025 solar pump units. These pumps will be available in 3 HP, 5 HP, and 7.5 HP capacities and will be installed in different regions of Maharashtra.
The total project value is Rs 407.51 crore, and including GST, it comes to Rs 443.78 crore. The company stated that the project will begin once the work order or Notice to Proceed (NTP) is issued, and it must be completed within 60 days from that date.
Shakti Pumps confirmed that the entire project is domestic and does not involve any related-party transactions.
Rising Demand for Solar Pumping Solutions
The company said this order will help promote the use of solar energy in rural and agricultural areas. Shakti Pumps has already installed solar pumping systems in many states, and this new order will strengthen its market position even further.
According to the company, the project will help farmers move away from diesel and electricity-based irrigation systems and adopt clean, sustainable, and cost-effective solar energy. This shift is expected to reduce farmers’ expenses and ensure smoother irrigation throughout the year.
Market Reaction
The stock of Shakti Pumps reacted sharply to the announcement, jumping over 13 percent. The company has already delivered a strong return of 775 percent in the past three years, and this fresh order adds to the positive sentiment around its future growth prospects.
