Oswal Pumps added 2.31% to Rs 543 after the company announced that it has has received letter of empanelment from Maharashtra State Electricity Distribution Company (MSEDCL) for a project worth Rs 180 crore.
The contract covers the design, manufacture, and installation of off-grid DC solar water pumping systems for farmers in Maharashtra. These systems will have capacities of 3HP, 5HP, and 7.5HP.
The scope includes full transportation, testing, and commissioning at each site. Additionally, the project provides a five-year warranty, ongoing maintenance, and a Remote Monitoring System (RMS) under the PM Kusum B "Magel Tyala Saur Krushi Pump" Yojana.
The letter of empanelment is valid up to one year. The installation is be completed within 60 days from the date of issuance of work order.
Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors, and solar modules, which it sells under the 'Oswal brand.
The company's consolidated net profit jumped 48.24% to Rs 97.50 crore on a 73.90% increase in revenue to Rs 539.64 crore in Q2 FY26 as compared with Q2 FY25.
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