Shakti Pumps Receives ₹155.24 Crore Empanelment for Solar Water Pumping Systems
Shakti Pumps (India) Limited has secured a significant empanelment worth ₹155.24 crores from Maharashtra State Electricity Distribution Company Limited for supplying 6,580 off-grid solar photovoltaic water pumping systems across the state. The contract covers pumps of 3 HP, 5 HP, and 7.5 HP capacities under the Magel Tyala Saur Krushi Pump Yojana scheme, with execution required within 60 days of work order issuance. This empanelment is expected to add approximately 25% to the company's quarterly revenue.
*this image is generated using AI for illustrative purposes only.
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.
| Parameter: | Details |
|---|---|
| Total Units: | 6,580 pumps |
| Pump Capacities: | 3 HP, 5 HP, 7.5 HP |
| Coverage Area: | Entire state of Maharashtra |
| Scheme Name: | Magel Tyala Saur Krushi Pump Yojana |
| Execution Timeline: | 60 days from work order issuance |
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.
| Financial Component: | Amount (₹ Crores) |
|---|---|
| Base Contract Value: | 142.55 |
| GST Component: | 12.69 |
| Total Contract Value: | 155.24 |
| Quarterly Revenue Impact: | 25% addition |
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.
Historical Stock Returns for Shakti Pumps
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.59% | +1.08% | +21.96% | -30.74% | -33.28% | +523.00% |
Will Shakti Pumps pursue similar empanelments with other state electricity distribution companies to replicate this Maharashtra success?
How might this large-scale solar pump deployment impact Maharashtra's agricultural productivity and water management practices?
Could supply chain constraints or component shortages affect Shakti Pumps' ability to meet the aggressive 60-day delivery timeline?
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