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Oswal Pumps Ltd. has secured an additional order worth about ₹235.92 crore from Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) under the PM Kusum B Scheme.
In an exchange filing on Saturday, July 4, the company said it has received an order for the design, manufacture, supply, installation, testing and commissioning of 10,000 off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra.
The order, valued at approximately ₹235.92 crore, including GST, is to be executed within 60 days from the issuance of the notice to proceed or work order.
Also read: SEBI exempts Waaree promoter family's trust stake transfer from open offer requirement
The project covers the installation of 3 HP, 5 HP and 7.5 HP solar water pumping systems at identified farmers' sites across the state under the PM Kusum B Scheme's "Magel Tyala Saur Krishi Pump" Yojana.
The scope of work also includes a comprehensive system warranty, repair and maintenance services, and a remote monitoring system (RMS) for a period of five years.
Commenting on the order, Vivek Gupta, Chairman and Managing Director of Oswal Pumps, said, "We are delighted to receive this additional order for 10,000 solar pumps, which reflects the strong and enduring partnership we have built with MSEDCL driving Maharashtra's solar irrigation mission."
He added that the repeat order "underscores the trust our customers place in Oswal Pumps and stands as a testament to our consistent execution, timely deliveries, and unwavering commitment to quality across every project we undertake."
Also read: Coal India inks JV with UPRVUNL to develop renewable energy projects in Uttar Pradesh
Gupta said the latest award further expands the company's cumulative order book under various solar pumping schemes and reinforces Oswal Pumps' position as one of India's leading partners for large-scale solar water pumping solutions.
Shares of the company ended 1.78% lower at ₹410.50 on Friday, ahead of the order win on Saturday. The stock has declined about 22% so far this year and 41% over the last 12 months.
In an exchange filing on Saturday, July 4, the company said it has received an order for the design, manufacture, supply, installation, testing and commissioning of 10,000 off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra.
The order, valued at approximately ₹235.92 crore, including GST, is to be executed within 60 days from the issuance of the notice to proceed or work order.
Also read: SEBI exempts Waaree promoter family's trust stake transfer from open offer requirement
The project covers the installation of 3 HP, 5 HP and 7.5 HP solar water pumping systems at identified farmers' sites across the state under the PM Kusum B Scheme's "Magel Tyala Saur Krishi Pump" Yojana.
The scope of work also includes a comprehensive system warranty, repair and maintenance services, and a remote monitoring system (RMS) for a period of five years.
Commenting on the order, Vivek Gupta, Chairman and Managing Director of Oswal Pumps, said, "We are delighted to receive this additional order for 10,000 solar pumps, which reflects the strong and enduring partnership we have built with MSEDCL driving Maharashtra's solar irrigation mission."
He added that the repeat order "underscores the trust our customers place in Oswal Pumps and stands as a testament to our consistent execution, timely deliveries, and unwavering commitment to quality across every project we undertake."
Also read: Coal India inks JV with UPRVUNL to develop renewable energy projects in Uttar Pradesh
Gupta said the latest award further expands the company's cumulative order book under various solar pumping schemes and reinforces Oswal Pumps' position as one of India's leading partners for large-scale solar water pumping solutions.
Shares of the company ended 1.78% lower at ₹410.50 on Friday, ahead of the order win on Saturday. The stock has declined about 22% so far this year and 41% over the last 12 months.
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