According to an official announcement from the firm, Shakti Pumps India has secured an order in Karnataka for the development of water pumping infrastructure for Rs 654 crore.
For the design, production, delivery, transportation, installation, testing, and commissioning of standalone off-grid DC solar photovoltaic water pumping systems (SPWPS) totaling Rs 654.03 crores inclusive of GST, the business has obtained the first letter of award from Karnataka Renewable Energy.
Under component B of the PM-KUSUM plan, Shakti Pumps would develop these water pumps for the whole state of Karnataka. A total of 16,780 pumps are included in the order. The total order value is Rs 600.58 crore when GST is excluded, and Rs 654.03 crore when GST is included.
The order’s time frame is March 31, 2026, according to the company’s regulatory filing. In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the order, which is domestic in nature, was announced. Furthermore, Shakti Pumps has made it clear that the awarding organization is not of any further interest to the company or its promoter groups. Furthermore, no transactions involving related parties are included in the contract.
The company declared on January 6 that it had invested Rs 3 crore in Shakti Energy Solutions (SESL), a wholly owned subsidiary. In Pithampur, Madhya Pradesh, a greenfield, high-efficiency solar DCR cell and solar PV module manufacturing complex is planned to be established. The production capacity of the plant is 2.20 GW.
It further stated that equity shares will be taken into account while investing. The firm stated that it will occasionally issue equity shares in accordance with the agreement, and the purchase was completed that same day. SESL’s turnover for FY25 was Rs 216.53 crore.
