In an exchange filing, the company said that it has received a Letter of Award (LoA) from the Maharashtra Energy Department Agency (MEDA) for 4,500 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) at various locations across the State of Maharashtra under MNRE Component-B of the PM-KUSUM scheme.
Scope of Project
This project from the Maharashtra Energy Department Agency involves the designing, manufacturing, supply, transportation, installation, testing and commissioning of Solar Photovoltaic Water Pumping systems.
The company is expected to execute the order within 90 days from the date of issuance of the work.
This is the company’s second order from the Maharashtra Energy Department Agency. Previously, in April 2025, the company bagged a ₹12.42 crore order for 445 off-grid solar photovoltaic water pumping systems at various locations across Maharashtra.
In March, the company announced that its wholly owned subsidiary, Shakti Energy Solutions Ltd had acquired 113 acres of land in Madhya Pradesh for a solar cell, PV module plant
Q4 Results
In the Q4 results, the Indore-based company posted a 23% growth in profit to ₹110.23 crore. Furthermore, the company’s total income increased to ₹669.76 crore from ₹610.13 crore in the same quarter last year.
Shares of Shakti Pumps are trading 4.6% higher after the order win at ₹1,008.9. The stock has risen 18% in the last one month.
Also Read: Shakti Pumps shares gain after winning order for solar PV water pumping systems in Maharashtra
