Madhav Infra Projects surged 8.63% to Rs 11.45 after the company announced that it has received multiple Letters of Award (LoAs) worth Rs 342 crore from M.P. Urja Vikas Nigam (MPUVNL), a Government of Madhya Pradesh enterprise.
According to an exchange filing, the orders are for the implementation of grid-connected solar PVbased power plants under the Surya Mitra Krishi Feeders Scheme, which includes feeder solarisation under the PM KUSUM-C scheme. The generated power will be sold to Madhya Pradesh Power Management Company (MPPMCL).The total value of the orders stands at Rs 342 crore. The projects will be executed within 18 months from the date of signing of the Power Purchase Agreement (PPA).
The company clarified that none of its promoters or members of the promoter group have any interest in the awarding entity. It also stated that the transaction does not fall under related-party transactions under applicable regulatory norms.
Madhav Infra projects are engaged in the business of infrastructure development & solar power generation.
The companys consolidated net profit surged 200.7% to Rs 12.54 crore on a 23.1% rise in revenue from operations to Rs 106.82 crore in Q2 FY26 over Q2 FY25.
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