Shakti Pumps (India) Limited has informed the Exchange that Company has received 1st letter of Award from Karnataka Renewable Energy Development Limited for 16780 Standalone Off- Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps under Component B of PM KUSUM scheme. The total value of the 16,780 pumps is around Rs. 654.03 Crores (inclusive of GST).
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Shakti Pumps has received its first Letter of Award from Karnataka Renewable Energy Development Limited for supplying 16,780 Stand-alone Off-Grid DC Solar Photovoltaic Water Pumping Systems across Karnataka under Component-B of the PM-KUSUM scheme. The total contract value is approximately Rs. 654.03 Crores (inclusive of GST), with the base value being Rs. 600.58 Crores. The scope covers design, manufacture, supply, transport, installation, testing and commissioning, with completion targeted on or before 31 March 2026. This is a domestic government order with no related party involvement. The order represents a significant addition to the company's order book in the solar pump segment.
This is a sizeable government order that should significantly boost Shakti Pumps' revenue visibility and order book, likely providing a strong earnings tailwind over the next few quarters. Shareholders can view this as a positive development, reinforcing the company's leadership in the solar pump space under the government's PM-KUSUM scheme.