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.

Shakti Pumps (India) Limited , a leading manufacturer of energy-efficient pumps and motors, has announced a significant expansion of its solar pump installation project in Maharashtra. The company has secured an additional order for 12,451 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B scheme, valued at approximately Rs. 347.41 crores including GST.

Rapid Farmer Adoption

This latest development follows the company's initial empanelment by Maharashtra State Electricity Distribution Company Limited (MSEDCL) for supplying 34,720 solar pumping systems. The project has seen remarkable uptake among farmers:

• The first tranche of 10,000 systems, worth Rs. 268.88 crores, was fully booked within just 1.5 hours.
• The second tranche of 12,451 systems has now been fully selected by farmers.
• The total order value across both tranches stands at an impressive Rs. 616.30 crores.

Strong Market Position

Dinesh Patidar, Chairman of Shakti Pumps (India) Limited, emphasized the company's strong presence in Maharashtra and its commitment to delivering sustainable water solutions for farmers. He stated, "Our deep-rooted presence in Maharashtra, coupled with our proven execution capabilities, positions us strongly to deliver on this order within the stipulated timeline. We remain committed to empowering farmers with sustainable and energy-efficient water solutions that enhance agricultural productivity."

Company Overview

Shakti Pumps, founded in 1982, has established itself as a key player in the energy-efficient pump and motor industry. The company's manufacturing facilities in Pithampur, Madhya Pradesh, boast a combined capacity of 500,000 pumps and motors per year. Notably, Shakti Pumps is the only company in India that manufactures a wide range of products for solar pump installation in-house, including Variable Frequency Drives, Structures, Motors, and Inverters.

Environmental Commitment

As India's first 5-star rated pump manufacturer, Shakti Pumps has been at the forefront of transforming the agriculture sector through solar pump technology. The company's focus on stainless steel submersible pumps and its presence in over 100 countries globally underscore its commitment to quality and sustainability.

This latest order not only reinforces Shakti Pumps' market position but also aligns with India's broader goals for sustainable energy adoption in the agricultural sector. As the company continues to fulfill its empaneled commitment of 34,720 SPWPS under the scheme, it is poised to play a crucial role in enhancing agricultural productivity through eco-friendly water pumping solutions.