Shakti Pumps (India) Limited has informed the Exchange that the Company has received a Work Order from Madhya Pradesh Urja Vikas Nigam Limited for 2,033 stand-alone Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps under Component-B of PM-KUSUM scheme. The total value of the 2,033 pumps is around Rs. 71.25 Crores (inclusive of GST).
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Shakti Pumps has received a work order from Madhya Pradesh Urja Vikas Nigam Limited for 2,033 stand-alone off-grid DC solar photovoltaic water pumping systems. The order is being executed under Component-B of the central government's PM-KUSUM scheme aimed at supporting solar-powered agricultural pumps. The total order value is approximately Rs. 71.25 Crores inclusive of GST. This is a government-backed order, which typically carries lower counterparty and payment risk. The order adds meaningful size to the company's existing order book and supports its solar pump segment.
Positive for the stock — strengthens order book visibility and reinforces Shakti Pumps' position in the government-driven solar pump market, with limited execution risk given the PSU counterparty.