Shakti Pumps (India) Limited (SPIL) [BSE: 531431, NSE: SHAKTIPUMP], a leading manufacturer of energy-efficient pumps and motors, has been awarded a Letter of Empanelment by Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply, installation, and commissioning of 34,720 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B scheme. The total value of this order is approximately Rs. 1,037 Crores (inclusive of GST).

The empanelment is valid for one year, and the installation of each pump is required to be completed within 60 days from the date of issuance of the NTP/work order or JSR approval from the respective circle office. This significant order strengthens SPIL’s already robust pipeline and reinforces its leadership in India’s solar pump sector.

Company Commentary:
Mr. Dinesh Patidar, Chairman of Shakti Pumps, expressed enthusiasm over this major development:

“Receiving this Letter of Empanelment for 34,720 solar pumps from MSEDCL under the PM KUSUM B program is a milestone for Shakti Pumps. This will significantly enhance our order book and consolidate our leadership position in the solar pumps market. Our experience and market presence across states like Maharashtra, Madhya Pradesh, Rajasthan, Haryana, Punjab, Uttar Pradesh, and Jharkhand allow us to deliver efficiently and capitalize on large-scale opportunities. Our commitment to sustainable and energy-efficient irrigation solutions remains stronger than ever.”

About Shakti Pumps (India) Limited:
Founded in 1982 and converted to a public limited company in 1995, SPIL is a pioneer in solar pumps, energy-efficient stainless steel submersible pumps, booster pumps, pump-motors, and Variable Frequency Drives (VFDs). Its manufacturing facilities in Pithampur, Madhya Pradesh, have a combined capacity of 500,000 pumps and motors annually.

SPIL is recognized as India’s first 5-star rated pump manufacturer, with global reach, supplying to over 100 countries. The company manufactures an entire ecosystem for solar pumps in-house, including motors, controllers, structures, inverters, and VFDs, ensuring high-quality and reliable solutions for agriculture and irrigation.

Strategic Importance of the Order:

• This empanelment of 34,720 off-grid solar pumps will expand SPIL’s market presence in Maharashtra.

• The project aligns with government initiatives like PM KUSUM B and the Magel Tyala Saur Krushi Pump Yojana, promoting renewable energy and sustainable agriculture.

• Strengthens the company’s long-term revenue visibility and reinforces its capability to execute large-scale solar irrigation projects.

Forward-Looking Statements:
Certain statements in this release regarding the Company’s future growth, prospects, and performance are forward-looking. They involve risks and uncertainties, including government policies, economic conditions, and market factors, which may cause actual results to differ materially. SPIL undertakes no obligation to update these statements except as required by law.

Contact Information:

• Dinesh Patel, CFO – dinesh.patel@shaktipumps.com

• Ernst & Young LLP – vikash.verma1@in.ey.com / rohit.anand4@in.ey.com / riddhant.kapur@in.ey.com

This landmark order underscores Shakti Pumps’ position as a leading provider of solar irrigation solutions in India, enhancing its operational scale, order backlog, and capability to deliver sustainable water management solutions across agricultural sectors.

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