Company Order News: Received an order of Rs 114 crore from Maharashtra, shares rose by 4%

News Topical, Digital Desk : Company Order News: Shares of Shakti Pumps Limited have seen a jump of more than 4% on Thursday, June 12. This jump in the shares has come after the company received a big order of ₹ 114 crore from the Maharashtra government.

The company told the exchange that it has received a Letter of Award (LoA) from Maharashtra Energy Department Agency (MEDA) for 4,500 off-grid solar photovoltaic water pumping systems (SPWPS) at various locations in Maharashtra under MNRE Component-B under PM-KUSUM scheme.

The project includes designing, infrastructure, supply, transport, installation, testing and commissioning of solar photovoltaic water pumping systems. The company has to complete this work within 90 days from the date of receipt of the order. This is the second order of Shakti Pumps from Maharashtra Energy Department. In April 2025, the company received an order of ₹ 12.42 crore for 445 off-grid solar photovoltaic water pumping systems at various locations in Maharashtra. In March, the company announced that its wholly-owned subsidiary, Shakti Energy Solutions Ltd, had acquired 113 acres of land in Madhya Pradesh for a solar cell and PV module plant. The company reported a 23% profit growth in the fourth quarter of FY24 to a net profit of ₹110.23 crore. Also, total income increased from ₹610.13 crore to ₹669.76 crore. Shares of Shakti Pumps are trading 4.6% higher at ₹1,008.9 today. The stock has gained 18% in the last one month.

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