September 15th 2023.
Shakti Pumps Limited has announced that they have received a Letter of Award from the Department of Agriculture, Uttar Pradesh, under the PM- KUSUM III scheme component-B. This work order is worth Rs 293 Crores and includes the supply, installation, and commissioning of solar water pumping systems.
The contract was awarded by a domestic entity and must be completed within 90 days of the work order being issued.
Shakti Pumps Limited was founded in 1982 as a partnership firm, and was converted to a public limited company in 1995. The company produces solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump-motors, and other products.
At Pithampur, Madhya Pradesh, two manufacturing facilities have a combined capacity of 500,000 pumps per year. This makes Shakti Pumps Limited the only company to manufacture a wide range of products for solar pump installation in-house, including Variable Frequency Drives, Structures, Motors, Inventors, and more.
At 11:36 am IST, the shares of Shakti Pumps were at Rs 878, up by 11.54 percent. This announcement comes after HFCL bagged an optical fiber cables order worth ₹82.60 Crores.
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