Shakti Pumps has received a Letter of Empanelment worth Rs. 1.12 bn, including goods and services tax, from Maharashtra State Electricity Distribution Company (MSEDCL) for the supply and installation of 4,755 off-grid solar photovoltaic water pumping systems across Maharashtra.

The order covers pumps with capacities of 3 HP, 5 HP and 7.5 HP under the Maharashtra government’s Magel Tyala Saur Krushi Pump Yojana. The contract is valued at Rs. 1.03 bn excluding GST and Rs. 1.12 bn including GST, according to the company’s exchange filing.

Shakti Pumps is responsible for the end-to-end execution of the project. This includes designing, manufacturing, supplying, transporting, installing and testing the systems, as well as commissioning them after installation.

The project must be completed within 60 days of the issuance of the work order or Notice to Proceed. The company said the order was awarded by a domestic entity and did not involve any interest of its promoter, promoter group or group companies in the awarding organisation.

The latest contract follows another MSEDCL order received by Shakti Pumps in the previous month. That contract, valued at Rs. 2.36 bn including GST, covers the supply and installation of 10,000 solar-powered water pumping systems across Maharashtra under the same state scheme.

The earlier order also involved pumps with capacities of 3 HP, 5 HP and 7.5 HP and carried a 60-day execution period from the date of the work order or Notice to Proceed. Shakti Pumps’ shares rose as much as 1.5 per cent to Rs. 450 on the National Stock Exchange during trading on Tuesday. The stock had declined 5.4 per cent over the previous month and 39.5 per cent so far this year.