The company said that it has received its first order from the state of Jharkhand. Jharkhand Renewable Energy Development Agency has given letter of award for 400 nos of solar water pumping systems (SWPS) at various locations across the state of Jharkhand under Component-B of PM-KUSUM scheme.
The order includes designing, manufacturing, supplying, transport, installation, testing and commissioning of solar water pumping system.
The order is to be executed within 120 days from from the date of notice to proceed.
Shakti Pumps (India) is a manufacturer of stainless-steel pumps & energy efficient motors. The company holds dominating position in domestic solar pumps industry with more than 35% market share in KUSUM scheme.
The company reported consolidated net profit of Rs 92.66 crore in Q1 FY25 which is steeply higher than Rs 1 crore posted in Q1 FY24. Revenue from operation zoomed 402% YoY to Rs 567.56 crore recorded in Q1 FY25.