Shakti Pumps (India) Limited has secured a substantial work order from Madhya Pradesh Urja Vikas Nigam Limited for solar water pumping systems under the PM-KUSUM scheme. The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Order Details

The work order encompasses 1,897 stand-alone off-grid DC solar photovoltaic water pumping systems (SPWPS) for deployment across Madhya Pradesh. This order falls under Component-B of the PM-KUSUM scheme, a government initiative aimed at promoting solar-powered agricultural equipment.

Financial Value

The order demonstrates significant business potential for the company:

Project Scope

Shakti Pumps will be responsible for the complete lifecycle of the solar pumping systems, including:

• Design
• Manufacture
• Supply
• Transport
• Installation
• Testing
• Commissioning

Regulatory Compliance

The company has confirmed that:

• This order does not involve any related party transactions.
• The promoter, promoter group, or group companies have no interest in Madhya Pradesh Urja Vikas Nigam Limited.

This ensures the transaction maintains arm's length commercial terms and meets regulatory compliance requirements.

Strategic Significance

This order represents an opportunity for Shakti Pumps to expand its presence in the renewable energy sector, particularly in solar-powered agricultural solutions. The 120-day execution timeline indicates the urgency of the project for both the company and Madhya Pradesh's agricultural infrastructure development.

Shakti Pumps (India) Ltd has secured a significant order worth ₹65 crores, marking a notable business development for the capital goods company in the non-electrical equipment sector.

Order Details

The company has successfully secured this substantial order, adding to its business portfolio and strengthening its market position. The order value of ₹65.00 crores represents a considerable addition to the company's order book.

Business Impact

This order win demonstrates Shakti Pumps' continued ability to secure large-scale contracts in its operational sector. The company, which is classified as a mid-cap entity in the capital goods segment, has shown its competitive strength in attracting significant business opportunities.

The successful acquisition of this order is expected to contribute positively to the company's revenue pipeline and operational performance. Such substantial contracts typically play a crucial role in supporting business growth and maintaining market competitiveness in the capital goods industry.

Company Profile

Shakti Pumps operates in the capital goods sector, specifically focusing on non-electrical equipment manufacturing. The company maintains its position as a mid-cap entity in the Indian stock market, serving various industrial and commercial segments through its product offerings.