Oswal Pumps Subsidiary Wins Rs 394.0 mn Rooftop Solar Contract
POWER & RENEWABLE ENERGY

Oswal Pumps Subsidiary Wins Rs 394.0 mn Rooftop Solar Contract

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.

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.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement