Oswal Pumps Limited has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited for an additional 6,500 off-grid DC solar photovoltaic water pumping systems worth approximately ₹180.00 crores. The company disclosed this significant order award on December 24, 2025, under Regulation 30 of SEBI listing obligations.

Project Specifications and Scope

The comprehensive project involves the design, manufacture, supply, transport, installation, testing and commissioning of off-grid DC solar photovoltaic water pumping systems across Maharashtra districts. The systems include multiple capacity variants to meet diverse agricultural requirements.

Implementation Timeline and Framework

The project operates under the PM KUSUM B Scheme - Magel Tyala Saur Krishi Pump Yojana, a government initiative promoting solar-powered agricultural equipment. The Letter of Empanelment remains valid for one year, with specific installation timelines for individual systems.

Technical Features and Services

The solar water pumping systems are designed for off-grid operation, providing sustainable irrigation solutions for farmers without dependence on conventional electricity. The project includes comprehensive after-sales support with repair and maintenance services along with remote monitoring systems for optimal performance tracking.

Strategic Business Impact

This order represents a significant business development for Oswal Pumps Limited, reinforcing its position in Maharashtra's renewable energy infrastructure. The project aligns with the state's commitment to sustainable agricultural practices and demonstrates the company's capability to execute large-scale solar pump installations efficiently.

Oswal Pumps Limited has successfully obtained shareholder approval for the strategic relocation of its new manufacturing facility, with an overwhelming 99.99% of votes cast in favor of the proposal. The postal ballot process, which concluded on December 17, 2025, saw strong participation from shareholders who endorsed the company's plans to relocate the facility for its wholly-owned subsidiary, Oswal Solar Structure Private Limited.

Postal Ballot Results

The voting results demonstrate strong shareholder confidence in the company's strategic decision:

Original Proposal Details

The company had sought shareholder approval to vary the terms of contract mentioned in its IPO prospectus regarding fund utilization. The key aspects of the approved proposal include:

• Relocation Plan: Moving the planned new manufacturing facility for Oswal Solar Structure Private Limited to a new site in Karnal, Haryana
• Fund Allocation: Utilizing IPO proceeds of ₹272.76 crores for setting up new manufacturing units at the proposed location
• Strategic Advantages: The new site offers 28,000 sq. m. compared to the original 13,983 sq. m., providing enhanced operational efficiency

Rationale for Relocation

The management had presented several compelling reasons for the relocation:

1. Proximity Benefits: The new site is adjacent to Oswal Solar's existing facility, offering logistical advantages
2. Expanded Capacity: Larger area allows for optimized plant layout and future scalability
3. Cost Optimization: Expected shared resources and reduced administrative costs
4. Regulatory Efficiency: Minimal new approvals required, streamlining the expansion process

Financial Impact and Fund Utilization

The relocation maintains the total IPO proceeds allocation without altering the committed investment amount:

Voting Process and Compliance

The postal ballot process was conducted in full compliance with regulatory requirements:

• Voting Period: November 18, 2025 (9:00 AM IST) to December 17, 2025 (5:00 PM IST)
• Scrutinizer: Mr. Amit Kumar Shukla, Practicing Company Secretary
• Platform: Remote e-voting through NSDL platform
• Resolution Type: Special Resolution as required under Companies Act, 2013

The company's paid-up equity share capital stands at ₹11.40 crores, divided into 11,39,77,414 fully paid equity shares of face value ₹1 each. The strong approval reflects shareholder confidence in the management's strategic vision and the potential benefits of the proposed relocation for long-term value creation.