On 2 March 2026 Oswal Pumps Limited informed the BSE and NSE that its wholly owned subsidiary Oswal Solar Energy Private Limited had been awarded a Rs 394.0 million (mn) rooftop solar contract after allocation under the Government of India PM Surya Ghar: Muft Bijli Yojana through Andhra Pradesh agencies. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations 2015. The award is part of a centrally supported residential rollout.

The subsidiary will execute seven point four six megawatt-peak (MWp) grid connected rooftop solar systems covering design, supply, installation, testing and commissioning for 3,729 SC and ST consumers under the Utility Led Aggregation CAPEX mode in APDISCOMs. The total order value is approximately Rs 394.0 mn inclusive of GST and includes comprehensive operation and maintenance for five years from installation. Contractual milestones and subsidy alignment are expected to drive phased revenue recognition.

Swashakthi Energy was allocated seven point four six MWp of rooftop capacity by the New and Renewable Energy Development Corporation of Andhra Pradesh and has assigned fulfilment to Oswal Solar Energy, with the awarding entity domestic and outside related party parameters. The company clarified that promoters or promoter group entities have no interest in the awarding entity. Under the Utility Led Aggregation CAPEX framework project capital expenditure is structured upfront with milestone linked payments subject to commissioning certification.

Shares of Oswal Pumps settled at Rs 306.05 on the NSE, down three point zero four per cent from the previous close of Rs 315.65, and traded between Rs 297.20 and Rs 310.30 during the session; market capitalisation was about 34.9 billion (bn) and the P/E ratio eight point three seven based on exchange data. The contract is expected to broaden the company's presence in distributed residential solar deployment under the PM Surya Ghar programme and to add to its renewable energy portfolio through the solar subsidiary, with revenues likely recognised across installation milestones and the five year operation and maintenance period.