The order, including GST, covers solar pumps with capacities of 3 horsepower (HP), 5 HP and 7.5 HP and has been awarded under Maharashtra’s Magel Tyala Saur Krushi Pump Yojana.
Shakti Pumps will have 60 days to complete the work from the date it receives the work order or Notice to Proceed, the company said in an exchange filing.
The order is valued at ₹216.64 crore before GST and ₹235.92 crore including GST.
What the order covers
Shakti Pumps will be responsible for the entire project, including designing and manufacturing the pumps, transporting them to the required locations and installing, testing and commissioning the systems.
The order covers the entire state of Maharashtra and is aimed at providing farmers with off-grid solar-powered pumping systems for irrigation.
MSEDCL is the entity awarding the contract. Shakti Pumps said its promoters, promoter group and group companies have no interest in MSEDCL.Shakti Pumps shares closed at ₹468 on the NSE on Wednesday, down ₹5, or 1.06%.
