Shakti Pumps Secures Rs. 12.42 Crore Solar Water Pumping Contract; Stock Rises 4.99%

Summary

Shakti Pumps (India) Limited has received a Letter of Award from the Maharashtra Energy Development Agency (MEDA) for the supply and installation of 445 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra under the PM-KUSUM scheme. The total contract value is Rs. 12.42 crore, including GST.

Stock Performance

  • Following the announcement, Shakti Pumps (India)  Limited’s stock rises 4.99%, rising Rs. 1016.90
  • Market Capitalization: Rs. 12,045.10 Crore
                                  

Key Details of the Contract

  • Awarding Authority: Maharashtra Energy Development Agency (MEDA)

  • Contract Value: Rs. 12.42 Crore (Inclusive of GST)

  • Project Scope:

    • Design, Manufacture, Supply, Transport, Installation, Testing, and Commissioning of 445 Off-grid Solar Photovoltaic Water Pumping Systems across Maharashtra.

    • Executed under Component-B of the PM-KUSUM scheme, a government initiative to promote solar-powered irrigation.

About the Company:

Shakti Pumps (India) Ltd is primarily engaged in manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, commercial and industrial applications.
Its brand "Shakti" is well received in the domestic and international markets.

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