Shakti Pumps (India) Ltd announced that it has secured a ₹754.30 crore order (inclusive of GST) from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). The order includes the design, manufacture, supply, installation, testing, and commissioning of 25,000 standalone off-grid DC solar photovoltaic water pumping systems across Maharashtra under the Magel Tyala Saur Krushi Pump Scheme.
The contract, valued at ₹662.82 crore before taxes, is to be completed within 60 days of receiving the work order or NTP/JSR approval from the respective circle office. The total value of the 25,000 pumps, inclusive of GST, is approximately ₹754.30 crores and is expected to be executed within 60 days from the issuance of the NTP/work order.
Shakti Pumps (India) reported a significant increase in consolidated profit after tax for the quarter ended September, reaching ₹101.4 crore due to a surge in revenues. The company posted a profit after tax (PAT) of ₹6 crore in the same quarter of the previous fiscal year. In the second quarter, revenues from operations quadrupled to ₹634.6 crore from ₹152.8 crore a year ago.
For April-September, PAT rose to ₹194.1 crore from ₹6.9 crore in the first half of the previous fiscal year. Revenues for the first half of the fiscal year increased to ₹1,202.2 crore from ₹265.8 crore in the corresponding period of FY24. The company’s order book stood at around ₹1,800 crore as of September 30, 2024.
Shakti Pumps (India) manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, and pump motors. The company operates two manufacturing facilities with a combined production capacity of 500,000 pumps and motors per year.
