As part of the contract, the company will design, manufacture, supply, transport, install, test, and commission 5,438 off-grid DC solar photovoltaic water pumping systems across various districts in Maharashtra. The pumps will be of 3 HP, 5 HP, and 7.5 HP capacities.
This empanelment aligns with the government's clean energy initiative, which aims to promote solar-powered irrigation and reduce farmers’ reliance on conventional energy sources.
The latest allocation follows Jain Irrigation’s successful execution of Phase I of the scheme in December 2024, during which the company installed 4,180 solar pumps worth Rs 103 crore.
On the financial front, Jain Irrigation reported a 3% year-on-year increase in consolidated net profit for the quarter ended June 30, rising to Rs 14 crore from Rs 13.6 crore in the corresponding period last year. Revenue for the quarter grew by 4.6% to Rs 1,546 crore, up from Rs 1,478 crore a year ago.
Jain Irrigation Systems is engaged in providing solutions in agriculture, piping and infrastructure through manufacturing of Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, Agro Processed Products, Renewable Energy Solutions, Tissue Culture Plants, Financial Services and other agricultural inputs.
Shares of Jain Irrigation Systems shed 0.21% to Rs 52.69 on the BSE.