Crompton Greaves jumps on bagging LoA from MEDA worth Rs 10.60 crore

Crompton Greaves Consumer Electricals added 1.17% to Rs 336 after the firm bagged a prestigious letter of award (LoA) from the Maharashtra Energy Development Agency (MEDA) under the central government's PM-KUSUM scheme worth Rs 10.60 crore.

The order includes the design, manufacturing, transportation, and installation of solar photovoltaic water pumping systems across various locations in Maharashtra. These systems are aimed at helping farmers access reliable, off-grid water sources powered by solar energy.

With this development, Crompton continues to expand its presence in solar pumping, an area it has been actively investing in. The companys pumps are built for durability and efficiency, using stainless steel construction for resistance to rust and corrosion. Crompton also brings a solid track record of performance, supported by advanced product design, strong R&D, and a wide service network.

This initiative falls under component B of the PM-KUSUM scheme, which promotes the use of solar-powered pumps to reduce dependence on grid electricity and diesel. It also supports the national goal of boosting clean energy use in agriculture while offering farmers more control and savings.

Indias submersible pump market is growing rapidly, with demand driven by agriculture, rural water needs, and infrastructure development. The shift toward solar technology is especially important in areas with limited access to stable electricity, where solar-powered pumps offer a practical and cost-effective alternative.

Speaking on the development, Rajat Chopra, Business Head Home Electricals & Pumps, said, Partnering with MEDA under the PM-KUSUM scheme is a big step forward in supporting rural and off-grid areas with clean, long-lasting water solutions. Our pumps are built to perform in tough conditions and deliver consistent results for farmers and rural users.

Crompton Greaves Consumer Electricals is one of the leading consumer companies in India with a brand legacy of over 75 years. It is an independent company under professional management, operating in two business segments: lighting and electrical consumer durables. We market our products under the Crompton brand name in India and select export markets.

The companys consolidated net profit jumped 27.7% to Rs 109.84 crore on 4.5% increase in revenue from operations to Rs 1,769.21 crore in Q3 FY25 over Q3 FY24.

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