Shakti Pumps receives Rs 353.9 cr order from MSEDCL for 15,000 solar pumps

What Shakti Pumps announced

On 4 July 2026, Shakti Pumps (India) Limited disclosed that it has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL). The empanelment authorises Shakti Pumps to supply 15,000 Off‑Grid Solar Photovoltaic Water Pumping Systems (SPWPS) – ranging from 3 HP to 7.5 HP – for the entire state of Maharashtra under the Magel Tyala Saur Krushi Pump Yojana. The total commercial consideration for the 15,000 pumps is Rs 324.96 crore, which becomes Rs 353.89 crore inclusive of GST.

"The total value of the 15,000 pumps is around Rs. 353.89 Crores (inclusive of GST) which is to be executed within 60 days from the issuance of work order/NTP." – Shakti Pumps filing, 4 July 2026.

Order details and commercial terms

• Awarding entity: Maharashtra State Electricity Distribution Company Limited (MSEDCL), a domestic utility.
• Scope of work: Complete design, manufacture, supply, transport, installation, testing and commissioning of the off‑grid solar photovoltaic water pumping systems.
• Pump capacities: The order covers units of 3 HP, 5 HP and 7.5 HP.
• Commercial size: The work order amount is Rs 324.96 crore; with the statutory Goods and Services Tax (GST) the contract value rises to Rs 353.89 crore.
• Related‑party status: The filing confirms that the promoter group has no interest in MSEDCL and the transaction is not a related‑party deal.
• Regulatory reference: The announcement is made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with annexure referencing SEBI Circular no SEBI/HO/CFD/CFD‑PoD‑1/P/CIR/2023/123.

Execution timeline and scope

The empanelment stipulates that the entire order must be executed within 60 days from the date a Work Order/Notice to Proceed (NTP) is issued by MSEDCL. While the filing does not disclose the exact date of the work order issuance, the 60‑day window creates a clear operational deadline for Shakti Pumps to mobilise manufacturing, logistics and field installation resources across Maharashtra. The contract covers the entire state, indicating a geographically dispersed deployment that will likely involve coordination with local distribution networks and agricultural stakeholders under the government‑backed pump scheme.

Key facts at a glance

Why this matters for investors

The empanelment adds a significant order book item for Shakti Pumps, amounting to roughly Rs 354 crore. Because the contract is domestic, non‑related‑party and does not involve any promoter interest, it is unlikely to raise concerns around conflict of interest or transfer pricing. The short 60‑day execution window suggests that revenue recognition could be relatively swift, subject to the company’s ability to meet the logistical and installation timelines. From a cash‑flow perspective, the contract’s size is material relative to the company’s historical turnover, potentially enhancing near‑term earnings visibility if the order is fulfilled on schedule.

Conclusion

Shakti Pumps (India) Limited has been empanelled by MSEDCL to deliver 15,000 solar photovoltaic water pumping systems across Maharashtra, a contract valued at Rs 353.89 crore inclusive of GST. The order must be completed within 60 days of receiving the work order, and it is a domestic, non‑related‑party transaction with no promoter interest. The filing provides clear commercial terms but does not disclose subsequent milestones such as the exact work‑order issuance date or payment schedule, which remain to be confirmed in future disclosures.