Shakti Pumps shares gain after securing ₹170 crore order from Madhya Pradesh Urja Vikas Nigam

Shakti Pumps (India) Limited has received a new work order worth ₹170.25 crore (including GST) from Madhya Pradesh Urja Vikas Nigam Limited for the supply of 4,840 standalone off-grid DC solar photovoltaic water pumping systems across the state, the company announced on Wednesday, December 31.

In an exchange filing, the company said the order has been awarded under Component-B of the PM-KUSUM scheme and is to be executed within 120 days.

The scope of work includes the design, manufacture, supply, transportation, installation, testing and commissioning of the solar water pumping systems. The base value of the contract is ₹156.34 crore, which rises to ₹170.25 crore including GST.

This marks Shakti Pumps’ third order under the PM KUSUM scheme this month, after it earlier secured a ₹356.77 crore order and another

₹444 crore contract for supplying and installing off-grid DC solar photovoltaic water pumping systems across Maharashtra.

The latest order adds to Shakti Pumps’ execution pipeline and strengthens its presence in government-led solar and irrigation projects, particularly under the PM-KUSUM program aimed at promoting solar-powered agriculture infrastructure.

On December 12, the company informed the exchanges of two order wins — one worth ₹24 crore from the Jharkhand Renewable Energy Development Agency and the other worth ₹71.25 crore from the Madhya Pradesh Urja Vikas Nigam Ltd.

Shares of Shakti Pumps are trading 4% higher after the announcement at ₹728.4. The stock is up 10% in the month so far, but has had a forgettable year, with a decline of 35%.