Shakti Pumps (India) Limited has informed the Exchange that Company has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited for 6,580 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) pumps under Magel Tyala Saur Krushi Pump Yojana. The total value of order is Rs. 155.24 Crores (inclusive of GST).
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Shakti Pumps has received a major order from Maharashtra State Electricity Distribution Company Limited for 6,580 off-grid solar water pumping systems across Maharashtra under the state's Magel Tyala Saur Krushi Pump Yojana. The order covers 3 HP, 5 HP, and 7.5 HP pumps for agricultural use. The total contract value is Rs. 155.24 Crores inclusive of GST (Rs. 142.55 Crores base value). The company has 60 days from issuance of the work order to execute the supply, installation, testing, and commissioning. This is a domestic government order with no related party involvement.
This is a significant order for Shakti Pumps, representing a major government contract in the solar pump segment. The 60-day execution timeline suggests a concentrated revenue recognition period. Shareholders may view this positively as it demonstrates government acceptance of the company's solar pumping technology.