Rs 1,500 Crore Order Book: Pump Manufacturer Secures Rs 353.89 Crore MSEDCL Order for 15,000 Solar Water Pumps; Shares Jump 3.5%

On Monday, Indian benchmark indices traded higher in early trade. As of the latest available trade, the Nifty 50 index was up 169.55 points, or 0.70 per cent, at 24,440.40. Amid the positive market sentiment, Shakti Pumps (India) share price jumped 3.48 per cent to Rs 594.05 after the company announced a major order under Maharashtra's solar irrigation programme.

Shakti Pumps Receives Rs 353.89 Crore Order From MSEDCL

Shakti Pumps (India) Ltd received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply of 15,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) under the Magel Tyala Saur Krushi Pump Yojana.

The total order value stands at Rs 353.89 crore (inclusive of GST), while the basic contract value is Rs 324.96 crore. The order is scheduled to be executed within 60 days from the issuance of the work order or Notice to Proceed (NTP).

Turnkey Execution Across Maharashtra

The scope of work includes the design, manufacture, supply, transportation, installation, testing and commissioning of 3 HP, 5 HP and 7.5 HP off-grid solar photovoltaic water pumping systems across Maharashtra.

The project has been awarded by a domestic entity under the state's agricultural solar irrigation scheme. The company also clarified that neither its promoters nor promoter group entities have any interest in the awarding authority and that the contract does not qualify as a related-party transaction.
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Strengthens Solar Irrigation Order Book

The latest empanelment further strengthens Shakti Pumps' order book and reinforces its position in India's fast-growing solar irrigation market. The company will undertake complete turnkey execution, including installation and commissioning, under one of Maharashtra's flagship renewable energy initiatives aimed at promoting sustainable irrigation for farmers.

About Shakti Pumps

Shakti Pumps (India) Limited is one of India's leading manufacturers of energy-efficient pumps and solar pumping systems. The company offers a wide range of pumping solutions for agriculture, industrial, domestic and commercial applications, with a strong presence in both domestic and international markets.

The company is a key beneficiary of government-led renewable energy and solar irrigation programmes. Its product portfolio includes solar water pumping systems, submersible pumps, pressure boosting systems and motors, supporting India's transition towards sustainable agriculture and clean energy.

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