Oswal Pumps Limited , a leading manufacturer of solar pumps in India, has announced a significant business development that underscores its position in the renewable energy sector. The company has secured a major order worth ₹442.00 crore from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply and installation of solar-powered water pumping systems.

Order Details

The order, awarded under the PM Kusum B Scheme "Magel Tyala Saur Krushi Pump" Yojana, involves the design, manufacture, supply, installation, testing, and commissioning of 14,787 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). These systems will be installed at identified farmers' sites across Maharashtra and will come with:

• Capacities ranging from 3HP, 5HP, to 7.5HP
• Complete system warranty
• Repair and maintenance services
• Remote Monitoring System (RMS) for 5 years

Project Scope and Timeline

The Letter of Empanelment/Letter of Award (LOE/LOA) received by Oswal Pumps is valid for one year. According to the terms, the installation of these systems must be completed within 60 days from the date of issuance of the Notice to Proceed (NTP), Work Order, or Job Safety Report (JSR) approval.

Impact on Farming Community

This project is expected to have a significant impact on the agricultural sector in Maharashtra. By providing farmers with reliable, energy-efficient, and environmentally friendly pumping systems, Oswal Pumps aims to:

• Reduce dependency on conventional power sources
• Lower operating costs for farmers
• Ensure sustainable irrigation practices

Management Commentary

Mr. Vivek Gupta, Chairman and Managing Director of Oswal Pumps Limited, expressed his enthusiasm about the order, stating, "This milestone is not just another project win, it is a testament to our ability to deliver large-scale, high-impact solutions that directly benefit the farming community and promote clean energy adoption."

He further added, "This achievement highlights Oswal Pumps' unwavering commitment to advancing India's renewable energy and rural development objectives. It also further strengthens our already robust order book, reflecting the growing trust of our customers and partners in our technological expertise, manufacturing capabilities, proven track record of timely execution and post-execution service."

Company Profile

Oswal Pumps is recognized as one of India's fastest-growing, vertically integrated solar pump manufacturers. With over two decades of experience in pump engineering and manufacturing, the company has established a strong presence in the market for solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules.

The company boasts several key credentials:

• ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 certifications
• Listed under the Ministry of New and Renewable Energy's Approved List of Models and Manufacturers (ALMM)
• Strong pan-India distribution network
• Growing international footprint
• Focused design and engineering team

This latest order reinforces Oswal Pumps' position in the solar pumping sector and its contribution to India's clean energy transition. As the country continues to emphasize renewable energy adoption, particularly in the agricultural sector, Oswal Pumps appears well-positioned to capitalize on these opportunities and drive sustainable growth.

Oswal Pumps , a leading manufacturer of solar pumping systems in India, has reported robust financial results for the first quarter, setting the stage for significant growth in the coming year.

Q1 Financial Highlights

The company's Q1 performance showcased impressive year-over-year growth:

• Operating income reached Rs 5,139.00 million, up 36.80% year-over-year and 40.90% quarter-over-quarter
• EBITDA stood at Rs 1,408.00 million with a margin of 27.40%
• Profit After Tax (PAT) was Rs 947.00 million, representing an 18.40% margin

Strong Order Book and Growth Outlook

Oswal Pumps maintains a robust order book of 29,961 pumps, valued between Rs 700.00-800.00 crores. The company's management has provided an optimistic guidance, projecting revenue growth of 50-60% with EBITDA margins of 27-29%.

Expansion Plans

To meet growing demand, Oswal Pumps is significantly expanding its manufacturing capacity:

• Increasing pump production capacity from 2 lakh to over 5 lakh pumps per annum
• Adding 1.50 GW solar module capacity

Market Position and Government Schemes

The company holds a strong 31% market share in the PM-KUSUM scheme, a government initiative promoting solar energy in agriculture. Maharashtra is expected to be the largest revenue contributor for Oswal Pumps in the coming year.

Product Development

Oswal Pumps is diversifying its product range, with plans to introduce new industrial pump products:

• Helical pump sampling planned by Q3
• Development of boiler feed pumps, chemical pumps, and high-pressure pumps in progress

Management Commentary

During the earnings call, Vivek Gupta, Chairman and Managing Director of Oswal Pumps, expressed confidence in the company's growth trajectory: "We are quite very hopeful that we will achieve this as per the timeline. And simultaneously, we had planned 1.5 gigawatt in the solar module for the expansion. So, accordingly, the Company is working very aggressively in that direction as well."

Gupta also highlighted the company's strong position in the market, stating, "Our major strength is that in India, in the solar pumping system, the biggest service network is with Oswal today. It is the biggest network we have."

Future Outlook

The management remains optimistic about the future, citing several factors supporting growth:

• Anticipated launch of PM-KUSUM 2.0 by the end of the fiscal year
• Expanding presence in multiple states across India
• Growing export business, expected to contribute 3-4% of revenue

With its strong market position, expanding capacity, and favorable government initiatives, Oswal Pumps appears well-positioned to capitalize on the growing demand for solar pumping systems in India's agricultural sector.

Conclusion

Oswal Pumps' Q1 results and future outlook paint a picture of a company on a strong growth trajectory. However, as with any rapidly growing business, investors should remain mindful of potential challenges such as market competition, policy changes, and execution risks associated with rapid expansion.