Launched in 2019, the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) aims to promote solar energy use in agriculture by targeting the addition of 30,800 MW of solar capacity, backed by central financial support of ₹34,422 crore. Initially set for completion by 2022, the scheme has been extended till March 2026 due to delays caused by the pandemic.
Under this initiative, Oswal Pumps Limited has secured a major order from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for supplying and installing solar-powered water pumping systems across the state.
Oswal Pumps Limited has announced a significant achievement, having received a Letter of Empanelment/Letter of Award from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply and installation of 14,787 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). This substantial project, valued at approximately ₹442 Crore (including GST), is to be executed within one year under the PM Kusum B Scheme "Magel Tyala Saur Krishi Pump" Yojna.
The project encompasses a comprehensive scope of work, including the design, manufacture, supply, transport, installation, testing, and commissioning of these solar pumping systems. The SPWPS units will be of 3HP, 5HP, and 7.5HP capacities and are designated for installation at identified farmers' sites across various districts in Maharashtra. A crucial aspect of the contract is the provision of a complete system warranty, repair and maintenance services, and a Remote Monitoring System (RMS) for a period of five years.
While the Letter of Award is valid for one year, the installation of the systems is required to be completed within 60 days from the issuance of the Notice to Proceed (NTP), Work Order, or Joint Site Report (JSR) approval. The order was awarded by a domestic entity, MSEDCL.
As of July 31, 2025, Oswal Pump had an order book of 29,961 pumps. With the government actively advancing the rollout of the PM-KUSUM scheme, the company anticipate strong order inflows in the coming quarters as well.
On Thursday, Oswal Pumps' share price jumped 0.44% to its intraday high of ₹807.5. As of 10:17 am IST, the share price was trading at ₹798.5per share, up by 0.80%.
The company got listed on exchanges on June 20, 2025. Since then, the stock price has jumped over 28% to new record highs.
Disclaimer: The article is for informational purposes only and not an investment advice.
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