Shakti Pumps (India) has received a Letter of Empanelment and Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply of 12,883 off-grid DC solar photovoltaic water pumping systems across Maharashtra. The order has been awarded under the Magel Tyala Saur Krushi Pump Yojana, aligned with the PM Kusum B scheme .
As per the regulatory disclosure, the contract involves the design, manufacture, supply, transportation, installation, testing, and commissioning of solar water pumps with capacities of 3 HP, 5 HP, and 7.5 HP for farmers across the state .
The total value of the order stands at Rs 356.77 crore, inclusive of GST. Excluding GST, the contract value is Rs 327.62 crore. The company stated that the project is required to be executed within 60 days from the issuance of the work order or notice to proceed (NTP) .
Shakti Pumps clarified that the order has been awarded by a domestic entity and does not fall under related-party transactions. The promoter or promoter group has no interest in MSEDCL, according to the filing .
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was signed by Company Secretary Ravi Patidar.
