Shakti Pumps announced a significant milestone by securing a ₹114.58 crore order from the Maharashtra Energy Development Agency (MEDA). This order is part of the Ministry of New and Renewable Energy’s (MNRE) Component-B under the PM-KUSUM scheme, aimed at solarizing agriculture and reducing dependence on conventional electricity.
The order entails the design, manufacture, supply, transport, installation, testing, and commissioning of 4,500 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) across multiple locations in Maharashtra. The contract stipulates that the entire work must be completed within 90 days of the issuance of the work order.
This development is a part of India’s broader initiative to promote solar energy use in agriculture by enabling farmers to access sustainable and cost-effective irrigation solutions. Importantly, this order does not involve any related party transactions, ensuring transparency and regulatory compliance.
Strategic Importance of the Order
The ₹114.58 crore contract is expected to significantly strengthen Shakti Pumps’ presence in the renewable energy space. As the company continues to leverage the government’s aggressive solar push under the PM-KUSUM scheme, such large-scale orders not only boost revenue but also reinforce its commitment to sustainable development and rural upliftment.
Given the tight 90-day completion window, this project will test and showcase Shakti Pumps’ execution capabilities, especially in decentralized rural setups. The deal also underscores MEDA’s confidence in the company’s technology and delivery standards.
Recent Financial Performance
As of FY24-25, Shakti Pumps has shown a strong rebound in performance driven by a healthy order pipeline and robust demand for solar pumping solutions. For the quarter ended March 2025, the company reported:
- Revenue from Operations: ₹296 crore, a year-on-year growth of over 28%
- EBITDA: ₹43 crore, with improved margins on the back of better product mix and operational efficiencies
- Net Profit: ₹25 crore, up from ₹17 crore in the same quarter last year
With an increasing focus on government-driven clean energy programs, Shakti Pumps is positioned to capitalize on future solar infrastructure expansions. Its revenue mix is shifting steadily towards high-margin solar business, and the order from MEDA only solidifies that transition.
Company Background
Shakti Pumps (India) Limited, established in 1982 and headquartered in Pithampur, Madhya Pradesh, is one of India’s leading manufacturers of energy-efficient stainless steel submersible pumps, motors, and solar energy solutions. The company serves agriculture, industrial, and domestic markets with a strong presence across 125+ countries. Over the years, Shakti Pumps has grown into a pioneer in solar pumping solutions and has aligned its business with India’s sustainability and rural empowerment goals.
The company is listed on the BSE (Scrip Code: 531431) and NSE (Symbol: SHAKTIPUMP) and holds a strong track record of innovation, quality, and performance, especially in solar-powered water pumping technologies.
Outlook
Shakti Pumps’ continued success in securing such impactful government projects demonstrates its strong technical capabilities and alignment with India’s clean energy goals. The company is expected to benefit from policy support, such as subsidies under PM-KUSUM, and international opportunities in emerging solar markets.
This ₹114.58 crore order is more than just a financial win—it reinforces Shakti Pumps’ status as a green tech leader and signals future growth through sustainability. With a robust order book, a healthy balance sheet, and a diversified product portfolio, Shakti Pumps is set for steady growth in the coming quarters.
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