Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015
Awaiting price reaction for this filing.
Crompton Greaves Consumer Electricals has received a Letter of Award from the Maharashtra Energy Department Agency (MEDA) for design, manufacture, supply, installation, testing and commissioning of 4,500 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) at various locations in Maharashtra under the MNRE Component-B of the PM-KUSUM scheme. The total order value is Rs. 100.68 crores, exclusive of GST. The work must be completed within 90 days from the date of issuance of the work order. The order is domestic in nature and there is no related party or promoter interest involved in the awarding entity.
This is a positive development, adding Rs. 100.68 crores to Crompton's order book and reinforcing its presence in the government's solar pumping segment. While not transformative in scale relative to Crompton's overall business, it signals continued traction in the renewable/solar EPC space and may support sentiment around its diversified growth strategy.