Shakti Pumps Secures Contract Worth Rs 353.89 Crore for Solar Pumping Systems in Maharashtra
Shakti Pumps (India) Limited has secured a significant contract award from Maharashtra State Electricity Distribution Company Limited. The company received a Letter of Empanelment to supply off-grid solar photovoltaic water pumping systems across the state of Maharashtra.The contract involves supplying 15,000 units of Solar Photovoltaic Water Pumping Systems (SPWPS) pumps, designed for use under the Magel Tyala Saur Krushi Pump Yojana scheme. The pumps offered are specified to be in 3 HP, 5 HP, and 7.5 HP capacities.
The total commercial consideration for this order is Rs 353.89 Crores, inclusive of GST. This amount corresponds to a work order value of Rs 324.96 Crores before GST.
Key details regarding the contract are summarized below:
| Particulars | Details |
|---|---|
| Awarding Entity | Maharashtra State Electricity Distribution Company Limited |
| Contract Type | Design, Manufacture, Supply, Transport, Installation, Testing and Commissioning of SPWPS |
| Quantity of Pumps | 15,000 units (3 HP, 5 HP, 7.5 HP) |
| Order Value (Excluding GST) | Rs 324.96 Crores |
| Total Contract Value (Including GST) | Rs 353.89 Crores |
The contract stipulates that the entire execution of the 15,000 pumps must be completed within 60 days from the issuance of the Work Order or Notice to Proceed (NTP).
The details confirm that the order is a domestic engagement and does not fall under related party transactions.
SHAKTIPUMP Stock Price Movement
On Friday, shares of Shakti Pumps (India) Limited slipped to settle at ₹574.1, losing 0.25% in trading. The stock saw a total traded volume of 678,061 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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