The company has received multiple letter of awards from M.P. Urja Vikas Nigan Limited (MPUVNL), a Govt of MP Enterprise, for the project as attached herewith.
MADHAVIPL · price
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Madhav Infra Projects has won multiple Letters of Award from M.P. Urja Vikas Nigam Limited (MPUVNL), a Government of Madhya Pradesh enterprise, worth approximately Rs. 342 crore. The project involves setting up grid-connected solar PV power plants under the Surya Mitra Krishi Feeders Scheme, which is part of the central government's PM KUSUM-C Scheme, with power to be sold to MPPMCL. The contract is domestic, must be completed within 18 months of PPA signing, and there is no related-party involvement. This is a significant government-backed solar infrastructure order for the company.
This Rs. 342 crore government-backed order is a meaningful addition to the company's order book and provides revenue visibility over the next 18 months. For a small-cap infrastructure company, a government order of this size from a state enterprise is likely to be viewed positively by the market, though execution timelines and working capital requirements will be key watchpoints for shareholders.