Shakti Pumps gains after bagging Rs 357-cr order from MSEDCL for solar water pumps

Shakti Pumps India rose 4.43% to Rs 745.55 after the company received a Letter of Empanelment/Award worth Rs 356.77 crore from the Maharashtra State Electricity Distribution Company (MSEDCL) for the supply of off-grid solar water pumping systems.

According to an exchange filing, the order involves the supply of 12,883 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) of capacities 3 HP, 5 HP and 7.5 HP across the state of Maharashtra. The pumps will be supplied under the Magel Tyala Saur Krushi Pump Yojana / PM-KUSUM B scheme.

The total value of the order stands at approximately Rs 356.77 crore. The project is to be executed within 60 days from the issuance of the work order or notice to proceed (NTP).

The company further clarified that neither its promoters nor members of the promoter group have any interest in the awarding authority. It added that the transaction does not qualify as a related-party transaction under applicable regulatory norms.

Shakti Pumps (India) manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump motors, and other products.

The companys consolidated net profit declined 10.56% to Rs 90.71 crore in Q2 FY26 compared with Rs 101.42 crore in Q2 FY25. Revenue from operations rose 5% YoY to Rs 666.35 crore in Q2 Sept 2025.

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