The order covers solar water pumping systems with capacities of 3 HP, 5 HP and 7.5 HP across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana, the company said in an exchange filing.
The order is valued at ₹103.01 crore, excluding GST, and ₹112.18 crore with GST. It has to be executed within 60 days from the issuance of the work order or Notice to Proceed (NTP), it said.
Under the contract, Shakti Pumps will design, manufacture, supply, transport, install, test and commiss the off-grid solar photovoltaic water pumping systems.
The company added that the order has been awarded by a domestic entity and does not involve any interest of the promoter, promoter group or group companies in the awarding entity.
Last month, Shakti Pumps had received another order from MSEDCL worth ₹235.92 crore to supply and install 10,000 solar-powered water pumping systems across Maharashtra.
The order, including GST, covers solar pumps with capacities of 3 HP, 5 HP and 7.5 HP. It was awarded under Maharashtra’s Magel Tyala Saur Krushi Pump Yojana.
Shakti Pumps was given 60 days to execute the order from the date of issuance of the work order or Notice to Proceed (NTP), the company said in an exchange filing.
Shares of Shakti Pumps increased much as 1.5% to ₹450 on the NSE at 12:35 pm. The stock has declined 5.4% over the past month and is down 39.5% so far this year.
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