Penny stock under Rs 60: Solar pumps manufacturer receives order worth Rs 135 crore + GST from MSEDCL

Jain Irrigation Systems Limited, a leading player in solar energy solutions, is pleased to announce the receipt of a significant work order from the Chief Engineer (Special Project Department), Maharashtra State Electricity Distribution Company Limited (MSEDCL). The order pertains to the design, manufacture, supply, transport, installation, testing and commissioning of off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) of 3 HP, 5 HP and 7.5 HP capacity

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This empanelment under the Magel Tyala Saur Krushi Pump Yojana / PMKUSUM B Scheme, a flagship initiative aimed at promoting clean energy in agriculture. Under this project, Jain Irrigation will supply and install 5,438 solar pumps across various districts in Maharashtra, with a total project value of Rs 135 crore + GST. This allocation follows the successful execution of Phase I of the scheme, initiated in December 2024, during which Jain Irrigation installed 4,180 solar pumps valued at Rs 103 crore + GST.  

Jain Irrigation continues to strengthen its leadership in the solar pump segment, having successfully undertaken similar projects across several Indian states under the Ministry of New and Renewable Energy’s PM-KUSUM scheme. The company remains committed to empowering farmers through clean, reliable and sustainable solar energy solutions, for green agriculture and rural development.

Jain Irrigation Systems Limited (JISL), guided by its motto "Small Ideas, Big Revolutions," is an Indian multinational company generating approximately USD 750 million in revenue with over 9,000 associates and manufacturing plants in 22 global locations. For over 34 years, JISL has been a leader in agriculture and infrastructure solutions, offering micro irrigation systems, PVC and HDPE pipes, plastic sheets, agro-processed products, renewable energy and tissue culture plants. The company has revolutionized agricultural productivity through modern irrigation and innovative technologies, significantly boosting crop yields for over 10 million small farmers and pioneering large-scale Integrated Irrigation Projects (IIPs). Embracing "More Crop Per Drop" for water and food security, JISL is also an early pioneer of IoT in agriculture, driving global precision agriculture solutions, with its "Jain FarmFresh" brand renowned worldwide for quality.

The company has a market cap of over Rs 3,600 crore and currently, the stock is trading under Rs 60 per share. The stock is up by 17 per cent from its 52-week low of Rs 45.16 per share.

Disclaimer: The article is for informational purposes only and not investment advice.