Shakti Pumps (India) Limited has announced securing a major work order worth ₹170.25 crores from Madhya Pradesh Urja Vikas Nigam Limited, marking a significant business development for the company in the renewable energy sector. Following the announcement, shares of the company are trading 4% higher at ₹728.40.

Order Details and Scope

The comprehensive order encompasses the supply of 4,840 stand-alone off-grid DC solar photovoltaic water pumping systems (SPWPS) for deployment across the entire state of Madhya Pradesh. This project falls under Component-B of the PM-KUSUM scheme, a government initiative aimed at promoting solar-powered agricultural solutions.

Project Specifications and Services

The work order requires Shakti Pumps to provide end-to-end services for the solar water pumping systems. The company will be responsible for the complete project lifecycle, ensuring comprehensive delivery of the solar pumping infrastructure.

Key services included in the contract:

• Design and manufacturing of solar photovoltaic water pumping systems
• Supply and transportation of equipment
• Installation and testing of systems
• Commissioning of the pumping infrastructure

Recent Order Wins and Business Pipeline

This marks Shakti Pumps' third order under the PM-KUSUM scheme this month, significantly strengthening its execution pipeline. The company earlier secured a ₹356.77 crore order and another ₹444 crore contract for supplying and installing off-grid DC solar photovoltaic water pumping systems across Maharashtra.

Additionally, the company informed exchanges of two other order wins - one worth ₹24.00 crores from the Jharkhand Renewable Energy Development Agency and another worth ₹71.25 crores from Madhya Pradesh Urja Vikas Nigam Limited.

Stock Performance and Market Position

Shares of Shakti Pumps are trading 4% higher following the order announcement. The stock has gained 10% during the current month, though it has declined 35% over the year. The latest order reinforces the company's position in the solar water pumping segment and its participation in government-backed renewable energy initiatives under the PM-KUSUM program aimed at promoting solar-powered agriculture infrastructure.

Shakti pumps (India) Limited has secured its third order from the state of Jharkhand, strengthening its position in the renewable energy sector. The Jharkhand Renewable Energy Development Agency has awarded a work order for 1,000 stand-alone off-grid solar photovoltaic water pumping systems (SPWPS) to be installed at various locations across the state under Component-B of the PM-KUSUM scheme.

Order Details and Specifications

The comprehensive order encompasses the complete project lifecycle from design to commissioning. The following table outlines the key parameters of this significant contract:

Scope of Work

The order requires Shakti Pumps to handle multiple aspects of the project implementation:

• Design and manufacture of solar photovoltaic water pumping systems
• Supply and transport of equipment to various locations
• Installation and testing of all systems
• Commissioning of the complete setup

The systems will be deployed as stand-alone off-grid solutions, making them suitable for remote areas where grid connectivity may be limited or unavailable.

Project Timeline and Implementation

The company has committed to complete the entire project within 120 days from the date of Notice to Proceed (NTP). This timeline covers all phases from manufacturing to final commissioning of the 1,000 solar water pumping systems across various locations in Jharkhand.

Regulatory Compliance

The announcement was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that this order does not involve any related party transactions, and there is no interest from promoters or group companies in the awarding entity.

This third order from Jharkhand demonstrates the continued trust of state agencies in Shakti Pumps' capabilities in the solar water pumping segment and reinforces the company's growing presence in India's renewable energy infrastructure development.