Shares of Oswal Pumps climbed 4.38% to ₹427.65 following the company's announcement of securing a significant contract from Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) for major solar irrigation projects. According to Business Standard, the stock gained momentum after the company received communication from MSEDCL for an additional order to supply 10,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). The stock has shown strong investor response to the new contract wins, with the latest gains building on earlier momentum when shares had surged more than 6% each on Monday, July 6, following the initial order announcement.
Oswal Pumps Ltd. has secured a significant contract worth ₹235.92 crore from Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) under the PM Kusum B Scheme. According to the company's exchange filing on Saturday, July 4, the contract involves the design, manufacture, supply, transportation, installation, testing and commissioning of 10,000 off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra. The order is valued at approximately ₹235.92 crore, including GST, and is to be executed within 60 days from the issuance of the notice to proceed. The company has clarified that the contract is not a related-party transaction, with neither its promoters nor promoter group entities having any interest in the deal.
The comprehensive project covers the installation of 3 HP, 5 HP and 7.5 HP solar water pumping systems at identified farmers' sites across Maharashtra under the PM Kusum B Scheme's "Magel Tyala Saur Krishi Pump" Yojana. As reported by Business Standard, the scope extends beyond hardware installation to include a comprehensive system warranty, repair and maintenance services, and a Remote Monitoring System (RMS) for a period of five years. This represents a substantial expansion of the company's solar irrigation portfolio in Maharashtra, with the scheme initially targeting installation of 14 lakh pumps, of which 10.9 lakh standalone pumps have been installed as of end-April this year.
Vivek Gupta, Chairman and Managing Director of Oswal Pumps, expressed delight at receiving this additional order for 10,000 solar pumps, highlighting the strong partnership with MSEDCL in driving Maharashtra's solar irrigation mission. According to the company's statement, the repeat order underscores customer trust and stands as a testament to consistent execution, timely deliveries, and unwavering commitment to quality. Gupta noted that the latest award further expands the company's cumulative order book under various solar pumping schemes and reinforces Oswal Pumps' position as one of India's leading partners for large-scale solar water pumping solutions.
The latest contract win comes as Oswal Pumps demonstrates strong financial performance, with the company reporting a consolidated net profit of ₹91.95 crore in Q4 FY26, representing a 43.9% increase from the previous year. Revenue from operations grew 39.8% to ₹509.74 crore in Q4 FY26 compared to Q4 FY25, as reported by Business Standard. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors, and solar modules, which it sells under the Oswal brand. The PM Kusum B Scheme, run by the Ministry of New and Renewable Energy, covers installation of standalone solar-powered agricultural pumps for farmers in areas with limited or no grid connectivity, helping replace diesel pumps typically used for irrigation.
