When Shakti Pumps (India) got the letter of empanelment from the Maharashtra State Electricity Distribution Company (MSEDC) under the Magel Tyala Saur Krushi Pump Scheme, the company experienced a 5% increase in price at Rs 819.20.
Under the Magel Tyala Saur Krushi Pump Scheme, the entire state of Maharashtra will receive 25,000 standalone off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps.
Within 60 days of the NTP/work order being issued, the order, which has a total value of about Rs 754.30 crore (including GST), must be completed.
Energy-efficient motors and stainless-steel pumps are produced by Shakti Pumps (India). With a market share of over 35% in the KUSUM scheme, the company is in a dominant position in the domestic solar pump industry.
In Q2 FY25, the company’s total net profit increased to Rs 101.42 crore from Rs 5.84 crore in Q2 FY24. During the quarter, operating revenue increased 315% year over year to Rs 634.59 crore.
