Oswal Pumps Limited said its wholly owned solar subsidiary has secured a rooftop solar contract valued at Rs 394 mn following allocation under the Government of India PM Surya Ghar: Muft Bijli Yojana through Andhra Pradesh agencies. The disclosure was made to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and related SEBI circulars, in line with statutory norms for material event reporting. The award advances the group’s residential solar initiatives.

Oswal Solar Energy Private Limited, formerly Oswal Solar Structure Private Limited, was awarded an order by Swashakthi Energy to execute seven point four six megawatt (MW) of grid connected rooftop solar systems. The scope covers design, engineering, supply, installation, testing and commissioning for 3,729 scheduled caste and scheduled tribe consumers under the Utility Led Aggregation CAPEX mode in APDISCOMs. The contract value is approximately Rs 394 mn inclusive of GST and follows the allocation by New & Renewable Energy Development Corporation of Andhra Pradesh.

The contract includes five years of comprehensive operation and maintenance from the date of commissioning, with overall tenure aligned to the same period and revenue recognition expected to be phased across installation milestones and O&M provisioning. Swashakthi Energy received the allocation from the state agency and assigned fulfilment to the subsidiary. The company confirmed the contracting entity is domestic, the transaction is not a related party arrangement and promoters or promoter group entities hold no interest in the awarding entity.

On the day of the announcement the company’s shares settled at Rs 306.05 on the NSE, representing a decline of three point zero four per cent from the previous close of Rs 315.65 as of three thirty pm IST on 2 March 2026, and traded between Rs 297.20 and Rs 310.30 during the session. Market capitalisation stood at approximately Rs 34.9 bn at close while price to earnings ratio was eight point three seven based on exchange data. The order is expected to strengthen the company’s rooftop solar presence under the national programme.