The order includes 25,000 stand-alone off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps for the entire state of Maharashtra under Magel Tyala Saur Krushi Pump Scheme.
The total value of the order is around Rs 754.30 crore (inclusive of GST) which is to be executed within 60 days from the issuance of NTP/work order.
Shakti Pumps (India) is a manufacturer of stainless-steel pumps & energy efficient motors. The company holds dominating position in domestic solar pumps industry with more than 35% market share in KUSUM scheme.
The company’s consolidated net profit surged to Rs 101.42 crore in Q2 FY25 as compared with Rs 5.84 crore in Q2 FY24. Revenue from operations spurted 315% YoY to Rs 634.59 crore during the quarter.