Shakti Pumps (India) Limited , a leading manufacturer of solar pumps and energy-efficient pumping solutions, has clinched another significant order under the PM-KUSUM scheme in Maharashtra. The company has been selected to supply and install 3,127 solar water pumping systems in the third tranche of the scheme, valued at approximately Rs. 86.40 crores.

PM-KUSUM Scheme Progress

The Maharashtra State Electricity Distribution Company Limited (MSEDCL) had initially empanelled Shakti Pumps for the supply and installation of 34,720 Off-Grid DC Solar Photovoltaic Water Pumping Systems. The progress of the scheme has been remarkable:

Management Commentary

Dinesh Patidar, Chairman of Shakti Pumps, expressed satisfaction with the farmers' adoption of the scheme. He stated, "We are confident in completing these orders on time," highlighting the company's commitment to timely execution of the projects.

Company Profile

Shakti Pumps specializes in the manufacture of solar pumps, energy-efficient pumps, and related components. The company boasts a substantial manufacturing capacity of 500,000 pumps and motors per year from its facilities located in Pithampur, Madhya Pradesh.

Impact on Rural Electrification

The PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme aims to promote solar energy in the agricultural sector. By providing solar water pumping systems, the scheme not only supports farmers with reliable irrigation but also contributes to rural electrification and reduces the dependency on grid electricity.

Market Implications

This order reinforces Shakti Pumps' position in the solar pumping systems market and demonstrates the continued momentum of the PM-KUSUM scheme. The rapid booking of previous tranches suggests strong demand for solar pumping solutions among Maharashtra's farming community, potentially indicating a positive outlook for companies operating in this sector.

As the renewable energy push continues in India's agricultural sector, companies like Shakti Pumps are well-positioned to benefit from government initiatives aimed at sustainable farming practices and rural development.

Shakti Pumps , a leading manufacturer of energy-efficient pumps and motors, has seen its shares rally significantly following a surge in orders from Maharashtra's solar pump subsidy program. The company's stock price climbed 6.6% to Rs 915.00, contributing to an impressive 13% gain over two trading sessions.

Maharashtra's Solar Pump Program Fully Subscribed

The catalyst for this stock movement was the full subscription of the second tranche of solar pump systems under Maharashtra's subsidy program. The Maharashtra State Electricity Distribution Company opened its portal for 12,451 off-grid DC solar photovoltaic water pumping systems, valued at Rs 347.41 crore. Farmers in the state quickly booked the entire allocation, demonstrating strong demand for these systems.

This recent development follows the success of the first tranche, where 10,000 pumps worth Rs 268.88 crore were subscribed within just 1.5 hours in late August. The combined orders from both tranches have resulted in a substantial boost for Shakti Pumps' order book.

Shakti Pumps' Order Book Swells

With the completion of both tranches, Shakti Pumps has secured orders for a total of 22,451 pumps under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B scheme. The cumulative value of these orders amounts to Rs 616.30 crore, significantly bolstering the company's business prospects.

Strong Financial Performance

The company's recent financial results have also contributed to investor confidence. Shakti Pumps reported:

Robust Order Book and Global Presence

As of August 1, Shakti Pumps boasts an impressive order book of approximately Rs 1,350.00 crore. The company's operations span multiple states within India, and its global footprint extends to over 100 countries through its export activities.

The recent surge in orders from Maharashtra's solar pump program, coupled with the company's strong financial performance and extensive order book, has clearly resonated positively with investors. As the demand for energy-efficient and sustainable pumping solutions continues to grow, Shakti Pumps appears well-positioned to capitalize on these market trends.