Crompton Greaves Consumer Electricals Limited has informed the Exchange about Awarding of order(s)/contract(s)
CROMPTON · price
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Awaiting price reaction for this filing.
Crompton Greaves Consumer Electricals has received a Letter of Award from the Maharashtra Energy Department Agency (MEDA) to design, manufacture, supply, install, test and commission 4,500 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) across various locations in Maharashtra. The total work order value is Rs. 100.68 crores (excluding GST), to be executed within 90 days from the date of issuance of the work order. The order falls under the MNRE Component-B of the central government's PM-KUSUM scheme aimed at supporting farmers with solar-powered irrigation. The contract is from a domestic government entity, and there is no related-party interest involved.
This is a modest, government-backed order that adds to Crompton's order book and strengthens its presence in the solar/agri-pumping segment under a flagship central scheme. At around 1-1.5% of annual revenue, it is not large enough to materially move the stock, but it is a positive directional signal for the company's diversification beyond conventional consumer electricals.