Shakti Pumps Secures ₹114.58 Crore Maharashtra Order!
The solar pump manufacturer secures a 4,500-unit off-grid water pump order under the PM-KUSUM Scheme, boosting investor sentiment and reaffirming its leadership in clean energy solutions.
Summary:
Shakti Pumps (India) Ltd., a renowned manufacturer of solar-powered water pumping systems, has secured a significant order worth ₹114.58 crore from the Maharashtra Energy Department Agency (MEDA). The order involves the installation of 4,500 off-grid solar photovoltaic water pumping systems under the government’s PM-KUSUM scheme. With this contract, Shakti Pumps’ order book now stands strong at ₹1,655 crore. The news pushed the company’s stock up by 4.61% to ₹1,010, registering a stellar 140% return from its 52-week low.
In a significant development for India’s renewable energy sector, Shakti Pumps (India) Limited, a leading solar pump and motor manufacturer, has won a prestigious contract from the Maharashtra Energy Department Agency (MEDA). The order is valued at ₹114.58 crore (inclusive of GST) and includes the supply, installation, and commissioning of 4,500 off-grid solar photovoltaic water pumping systems (SPWPS). This order is part of the Component-B of the Ministry of New and Renewable Energy (MNRE) ‘s PM-KUSUM scheme, a central initiative aimed at promoting the use of renewable energy in agriculture.
Big Win for Shakti Pumps
This new contract highlights Shakti Pumps’ growing dominance in the domestic solar pump sector and reinforces its commitment to sustainable agriculture solutions. The systems will be deployed across multiple rural locations in Maharashtra, providing farmers with reliable, clean, and grid-independent irrigation solutions. The scope of work includes the complete value chain — from design, manufacturing, and transportation to installation, testing, and commissioning, with a tight delivery deadline of just 90 days from the issuance of the work order.
Stock Market Reaction
Following the announcement, shares of Shakti Pumps jumped 4.61% intraday, hitting a high of ₹1,010 from the previous close of ₹965.45. This rise came on the back of a sharp increase in trading volume, which surged by 1.6 times on the BSE, indicating heightened investor interest.
The stock has emerged as a multi-bagger, delivering returns of over 140% from its 52-week low of ₹421.12. With the current momentum, analysts believe the company could witness further re-rating, particularly as its order book now touches an impressive ₹1,655 crore, reflecting strong business visibility and demand for its clean energy solutions.
Boost to India’s Solar Mission
This agreement is also an important milestone in achieving the objectives of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) initiative. The program aims to install off-grid solar pumps in remote areas to reduce dependence on diesel and grid power, offering a sustainable and cost-effective solution to farmers.
Component-B of the scheme particularly focuses on off-grid solar pumps for areas where grid connectivity is not viable. By enabling farmers to irrigate their fields using solar power, the scheme also reduces carbon emissions and helps in achieving India’s broader climate goals under COP28 and net-zero commitments by 2070.
About Shakti Pumps
Founded in 1982 and based in Pithampur, Madhya Pradesh, Shakti Pumps has earned a name as a leader in solar energy solutions and stainless steel water pumping systems. It caters to both domestic and international markets, offering solar pumps, submersible pumps, motors, and solar infrastructure systems.
With an increasing number of government schemes favouring clean energy adoption, Shakti Pumps has realigned its business strategy to cater aggressively to the solar segment, which now constitutes a significant chunk of its revenue. The company’s proven execution capabilities, strong R&D, and robust supply chain give it a strategic edge in securing large-scale government tenders.
Analyst View: What This Means for Investors
Revenue Visibility: The new order further cements the company’s FY25 revenue projections and ensures strong earnings momentum.
Execution Capacity: The short timeline (90 days) underlines Shakti’s agile execution model — a key differentiator in a competitive market.
Renewables Play: With an increasing focus on climate-conscious investing, companies like Shakti Pumps stand to gain from ESG-themed portfolios.
Rural Electrification Opportunity: India’s massive rural irrigation market still remains largely untapped by solar, offering multi-year growth potential.
Analysts believe Shakti Pumps is well-positioned to benefit from government-led initiatives, export demand, and technological advantages, making it a long-term growth story for investors looking at the renewables space.
Management Speak
Commenting on the order, Shakti Pumps’ top management stated,
“We are proud to contribute to India’s green energy mission and rural empowerment. This order reaffirms our leadership in the solar pump industry and reflects the trust reposed in us by state and central authorities. We are committed to timely execution and delivering value to both our customers and stakeholders.”
Outlook
With this new contract in hand, Shakti Pumps has consolidated its leadership position in the solar irrigation space, which continues to grow with support from central and state government policies. The current order inflow, rising market demand, and strong execution capability pave the way for the company’s continued growth in both domestic and international markets.
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