Shakti Pumps (India) Limited has informed the Exchange that Company has received a Letter of Empanelment/Award from Maharashtra State Electricity Distribution Company Limited for 12,883 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps under Magel Tyala Saur Krushi Pump Yojana /PM Kusum B Scheme. The total value of the 12,883 pumps is around Rs. 356.77 Crores (inclusive of GST)
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Shakti Pumps has received a Letter of Empanelment and Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for supplying 12,883 Off-Grid DC Solar Photovoltaic Water Pumping Systems. The total contract value is approximately Rs. 356.77 Crores including GST. The order falls under the Magel Tyala Saur Krushi Pump Yojana, which is part of the central government's PM Kusum B Scheme aimed at promoting solar-powered agricultural pumps. This is a large government tender win that strengthens the company's order book significantly.
This sizeable government order is likely to boost Shakti Pumps' revenue and order book visibility over the medium term, and is a positive signal for the stock given the company's strong positioning in the solar pump segment.