Shares of Oswal Pumps moved higher in early trade on Wednesday, December 24, after the company announced that it has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for solar pump installations under the PM-KUSUM B scheme.
At around 9:30 AM, Oswal Pumps was trading at Rs 545.95, up Rs 15.75 or nearly 3%, compared to its previous close of Rs 530.20.
According to the regulatory filing dated December 24, 2025, the empanelment is for the supply and execution of 6,500 off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) under the “Magel Tyala Saur Krushi Pump” Yojana. The total value of the empanelment is estimated at around Rs 180 crore, inclusive of GST.
The scope of work includes the design, manufacture, supply, transportation, installation, testing and commissioning of solar water pumps of 3 HP, 5 HP and 7.5 HP capacities across identified farmer locations in various districts of Maharashtra. In addition, the contract covers complete system warranty, repair and maintenance services, along with a remote monitoring system for a period of five years.
The company stated that the Letter of Empanelment is valid for one year, and installations are required to be completed within 60 days from the issuance of the notice to proceed or work order approvals. Oswal Pumps also clarified that the order has been awarded by a domestic entity, does not involve any related party transactions, and that neither promoters nor group companies have any interest in the awarding authority.
The development strengthens Oswal Pumps’ footprint in the solar-powered agricultural irrigation segment and aligns with the government’s ongoing push to promote renewable energy adoption in farming through the PM-KUSUM programme.
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