Shakti Pumps (India) has secured an order worth Rs 443.78 crore from the Maharashtra State Electricity Distribution Company (MSEDCL) for supplying and installing 16,025 off-grid DC solar photovoltaic water pumping systems across the state.
The company said in its regulatory filing on Thursday, that the pumps, with capacities of 3 HP, 5 HP and 7.5 HP, will be deployed under the Magel Tyala Saur Krushi Pump Yojana and the PM Kusum B Scheme.
Order valued at Rs 443.78 crore
The total value of the project stands at Rs 443.78 crore, inclusive of GST. The work order amount excluding GST is Rs 407.51 crore.
The scope of work includes design, manufacturing, supply, transportation, installation, testing and commissioning of the solar-powered pumping systems.
Shakti Pumps must execute the entire order within 60 days from the issuance of the work order or Notice to Proceed (NTP).
The company clarified that there is no promoter or related-party interest in the awarding entity.
Share price of Shakti Pump
The share price of Shakt Pump has declined over 45.28% so far this year.