Shakti Pumps shares gain after bagging another ₹357crore solar pump order from MSEDCL

Shares of Shakti Pumps (India) Limited gained as much as 6% on Tuesday, December 23, after it received a letter of empanelment / 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.

In an exchange filing, the company said the order has been awarded under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM-B scheme and covers 3 HP, 5 HP and 7.5 HP solar pumps. The total value of the order is ₹356.77 crore, including GST.

Shakti Pumps will be responsible for the design, manufacture, supply, transportation, installation, testing and commissioning of the solar pumping systems. The project is to be executed within 60 days from the issuance of the work order or notice to proceed.

The PM KUSUM scheme aims to promote solar-powered irrigation, reduce dependence on grid electricity for agriculture and improve farm-level energy security. Orders under the programme have been a key growth driver for solar pump manufacturers in recent years.

This marks Shakti Pumps’ second order from MSEDCL this month, after it earlier secured a ₹444 crore contract

for supplying and installing 16,025 off-grid DC solar photovoltaic water pumping systems across Maharashtra.

The order adds to Shakti Pumps’ growing pipeline under various state and central solar-irrigation schemes, in September, the company had secured an order worth ₹374 crore from the MSEDCL for the supply and installation of 34,720 off-grid solar water pumping systems under the PM-KUSUM scheme.

After gaining as much as 6% on the order win, shares of Shakti Pumps are off the highs of the day, currently trading 3.4% higher at ₹737.6. The stock is down 35% so far in 2025.