Shakti Pumps (India) Limited has informed the Exchange that Company has received New Work Order from Madhya Pradesh Urja Vikas Nigam Limited for 4,840 Stand-alone Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps under Component-B of PM-KUSUM scheme. The total value of the 4,840 pumps is around Rs. 170.25 Crores (inclusive of GST).
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Shakti Pumps (India) Limited has received a new work order from Madhya Pradesh Urja Vikas Nigam Limited, a state government entity, for 4,840 Stand-alone Off-Grid DC Solar Photovoltaic Water Pumping Systems. The order, to be executed within 120 days, covers the entire state of Madhya Pradesh under Component-B of the PM-KUSUM scheme. The total contract value is Rs. 170.25 Crores inclusive of GST (Rs. 156.34 Crores excluding GST). The scope includes design, manufacture, supply, transport, installation, testing, and commissioning. The order is from a domestic government entity, with no related party interest.
This is a sizeable government order that adds meaningful revenue visibility for the company in the short term, supporting the solar pump segment under the PM-KUSUM scheme. Positive for order book and near-term earnings, though execution within 120 days will be key to converting it into revenue.