The order involves the supply, installation, testing, and commissioning of 445 off-grid solar photovoltaic water pumping systems (SPWPS) at various locations across the state of Maharashtra. This project falls under Component-B of the PM-KUSUM scheme.
The total value of the work order is approximately Rs 12.42 crore and the project is expected to be executed within 120 days from the date of issue of the work order.
The company also clarified that the contract does not involve any related party transactions and confirmed that neither the promoter, promoter group, nor any group companies have any interest in the awarding entity.
Shakti Pumps (India) is engaged in the manufacturing of pumps, motors, & their spare parts. The core products of the company are engineered pumps, industrial pumps, solar pumps, etc.
The company’s consolidated net profit surged 130.3% to Rs 104.05 crore in Q3 FY25 as against Rs 45.19 crore posted in Q3 FY24. Revenue from operations jumped 30.9% YoY to Rs 648.77 crore in the quarter ended 31 December 2024.