Solar water pumps company receives order worth Rs 4,24,00,000 from Madhya Pradesh Urja Vikas Nigam Ltd

Crompton Greaves Consumer Electricals Limited has received a domestic Letter of Empanelment from Madhya Pradesh Urja Vikas Nigam Limited to design, manufacture, supply and install 159 off-grid solar photovoltaic water pumping systems. The project is valued at approximately Rs 4.24 crore (exclusive of GST) and includes systems with capacities of 2 HP, 3 HP, 5 HP and 7.5 HP. This contract, to be completed within 60 days, is part of Component B of the PM KUSUM B scheme, which is being implemented in Madhya Pradesh under the "PM Krishak Mitra Surya Yojana." The initiative is aimed at promoting solar energy in the state's agriculture sector.

Crompton Greaves Consumer Electricals Limited is a prominent Indian consumer company with a legacy spanning over 75 years, operating through its Lighting and Electrical Consumer Durables business segments. As part of its "Crompton 2.0" strategy, the company is focusing on premiumization, enhancing its go-to-market approach and increasing brand investment. Its diverse product portfolio includes a wide range of fans, from ceiling fans to industrial air circulators, as well as residential and agricultural pumps and various home appliances such as water heaters, air coolers and kitchen appliances. The company also offers a comprehensive suite of lighting products, including LED lamps

The company has a market cap of over Rs 20,000 crore and has been maintaining a healthy dividend payout of 40 per cent. In Q1FY26, the company reported net sales of Rs 1,998 crore and net profit of Rs 124 crore while in FY25, the company reported net sales of Rs 7,864 crore and net profit of Rs 564 crore. The stock is up by 11.22 per cent from its 52-week low of Rs 303 per share.

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