Shakti Pumps India Ltd receives LoA worth Rs. 356.77 crores from MSEDCL

Shakti Pumps (India) Limited (SPIL) [BSE: 531431, NSE: SHAKTIPUMP], India's leading manufacturer of energy-efficient pumps and motors, announced another significant addition to its order book today with the receipt of a Letter of Empanelment/Letter of Award for 12,883 Solar Photovoltaic Water Pumping Systems (SPWPS) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B. This order, valued at Rs. 356.77 Crores, marks the latest in a series of wins that have collectively added nearly Rs. 900 Crores in new orders over the past 15 days, reinforcing the Company's leadership in the solar pumps industry.

These consecutive order inflows, including LOE from MSEDCL for 16,025 SPWPS valued at Rs. 443.78 Crores along with smaller orders from Madhya Pradesh, Jharkhand, and other states, underscore strong demand visibility and a healthy pipeline of opportunities. The Company's execution capabilities were further validated by its role as the leading contributor in Maharashtra's Guinness World Record attempt, installing 8,846 SPWPS in a single month as part of the state's achievement of 45,911 solar water pump installations, one of the fastest and largest renewable irrigation rollouts globally.

Mr. Dinesh Patidar, Chairman of Shakti Pumps (India) Limited, shared his thoughts on this achievement: "The recent series of large orders, including today's Rs. 356.77 Crores order reflects strong demand momentum and validates our execution capabilities. These wins significantly strengthen our order book and provide clear revenue visibility. Our leadership in Maharashtra and active participation in tenders across multiple states provide a clear runway for growth. With a robust order book and a healthy pipeline, we remain confident of delivering strong performance and creating long-term value for our shareholders."

Shares of Shakti Pumps (India) Limited was last trading in BSE at Rs. 733.30 as compared to the previous close of Rs. 713.90. The total number of shares traded during the day was 550251 in over 13561 trades.

The stock hit an intraday high of Rs. 768.05 and intraday low of 710.15. The net turnover during the day was Rs. 407497811.00.

Source : Equity Bulls

Keywords

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