Shares of Shakti Pumps (India) Ltd. surged over 12% on Thursday, December 11, after it announced that it had received a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for the supply and installation of 16,025 off-grid DC solar photovoltaic water pumping systems across the state.The project, awarded under the Magel Tyala Saur Krushi Pump Yojana / PM-KUSUM B Scheme, is valued at ₹443.78 crore, the company said in an exchange filing.
According to the disclosure, the scope of work includes design, manufacture, supply, transport, installation, testing and commissioning of solar-powered pumps of 3 HP, 5 HP and 7.5 HP capacities. The order is to be executed within 60 days from the issuance of the formal work order or notice to proceed, the solar pump manufacturer said.
The order adds to Shakti Pumps’ growing pipeline under various state and central solar-irrigation schemes, with PM-KUSUM continuing to be a significant demand driver for decentralised renewable energy solutions.In September, the company had secured an order worth ₹374 crore from the MSEDCL for the supply and installation of 34,720 off-grid solar water pumping systems under the same scheme.
According to the disclosure, the scope of work includes design, manufacture, supply, transport, installation, testing and commissioning of solar-powered pumps of 3 HP, 5 HP and 7.5 HP capacities. The order is to be executed within 60 days from the issuance of the formal work order or notice to proceed, the solar pump manufacturer said.
The order adds to Shakti Pumps’ growing pipeline under various state and central solar-irrigation schemes, with PM-KUSUM continuing to be a significant demand driver for decentralised renewable energy solutions.In September, the company had secured an order worth ₹374 crore from the MSEDCL for the supply and installation of 34,720 off-grid solar water pumping systems under the same scheme.
Shares of Shakti Pumps surged as much as 12.5% after announcing the order win. The stock is now trading 9.8% higher at ₹605.2. The stock is down 18% in the last one month, 45% so far in 2025, and down over 50% from its 52-week high of ₹1,387.
