Shakti Pumps (India) Limited has announced the appointment of M/s. M.P. Turakhia & Associates Cost Accountant as its Cost Auditor for the Financial Year 2026-27. The decision was approved by the company's Board of Directors in its meeting held on Thursday, May 07, 2026, and was disclosed to the stock exchanges pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The appointment was made in compliance with the provisions of Section 148 of the Companies Act, 2013, and the rules made thereunder. It was based on the recommendation of the Audit Committee and remains subject to shareholder approval at the ensuing Annual General Meeting (AGM). The key details of the appointment are summarised below:

Profile of M/s. M.P. Turakhia & Associates

M/s. M.P. Turakhia & Associates is a firm of Cost Accountants comprising a blend of experienced professionals and qualified personnel specialising in Cost and Management Consultancy. The firm's key credentials include:

• Partners with professional experience of more than 28 years and 19 years respectively in the areas of cost audit, cost management, taxation, and industrial consultancy
• Extensive experience in handling consultancy and cost audit assignments for reputed organisations across the public sector, private sector, and government undertakings
• Advisory services in GST, Export-Import matters, and other regulatory compliances

The disclosure was submitted to both the National Stock Exchange of India Ltd. and BSE Limited in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The filing was signed by Ravi Patidar, Company Secretary of Shakti Pumps (India) Limited.

Shakti Pumps (India) Limited has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited for supplying 6,580 off-grid solar photovoltaic water pumping systems across Maharashtra. The empanelment, announced under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, covers the Magel Tyala Saur Krushi Pump Yojana scheme with a total contract value of ₹155.24 crores.

Contract Specifications and Scope

The comprehensive empanelment encompasses multiple pump capacities designed to meet diverse agricultural requirements across Maharashtra state. The contract includes complete project lifecycle management from manufacturing to commissioning.

Financial Impact and Contract Value

The empanelment represents substantial revenue potential for Shakti Pumps, with clear financial parameters outlined in the official announcement. The contract structure includes base value and GST components, with significant implications for quarterly performance.

The ₹155.24 crore order value is expected to add approximately 25% to the company's quarterly revenue, demonstrating the substantial scale of this empanelment relative to Shakti Pumps' existing operations.

Project Deliverables and Responsibilities

The empanelment requires Shakti Pumps to handle comprehensive project execution including design, manufacture, supply, transport, installation, testing and commissioning of off-grid solar photovoltaic water pumping systems. The company must ensure complete delivery within the specified 60-day timeline from work order issuance.

Regulatory Compliance and Related Party Disclosures

As per SEBI circular requirements, the company confirmed that no promoter, promoter group, or group companies have any interest in Maharashtra State Electricity Distribution Company Limited. The empanelment does not fall within related party transactions, ensuring arm's length commercial terms. This strategic win strengthens Shakti Pumps' position in the renewable energy sector and showcases the company's capability to execute large-scale solar pumping projects for state electricity distribution companies.