Oswal Pumps shares surged 7% to ₹284.8 following the announcement of a significant contract win, marking the company's biggest single-day gain in more than a month. The stock opened at ₹284.8 on Wednesday, September 23, and touched an intraday high of ₹297 per share, before settling at the current levels. According to CNBC TV18, the announcement helped the company break its two-day losing streak, with the stock posting its biggest single-day gain in more than a month. As per technical analysts, the stock witnessed a gap-up opening accompanied by strong volumes, with the rebound coming from a key support zone that had triggered an upward move in March. As long as ₹275 holds, the bias can remain positive, with ₹310–330 identified as the immediate resistance zone.
Oswal Pumps has secured a significant contract from the Telangana Renewable Energy Development Corporation Limited (TGREDCO), now confirmed as TGREDCO. The company received a Letter of Intent for a comprehensive solar project involving 2kW, 5kW, and 10kW on-grid solar rooftop PV power plants with a total aggregate capacity of 46.7 MW. The project will be implemented across 9,937 government schools in 33 districts across Telangana state, with the installation required to be completed within 180 days from the date of receiving the Work Order. The total quoted value of the project stands at ₹297 crore, excluding GST, representing a significant revenue opportunity for the company. This contract award marks Oswal Pumps' first major order from Telangana and represents an important milestone in expanding the company's presence into new markets.
The contract encompasses the design, supply, installation and commissioning of solar power systems featuring Mono PERC/TOPCON solar modules with normal structure and RMS in 33 districts across Telangana state. The project includes Mono Passivated Emitter and Rear Cell (PERC)/Tunnel Oxide Passivated Contact (TOPCON) solar modules, along with standard structures and remote monitoring systems (RMS). Mono PERC panels are monocrystalline modules using Passivated Emitter and Rear Cell technology, typically offering 20–22% efficiency and 520–560W output, while TOPCon panels are an advanced solar technology designed to improve on PERC and PERT modules. The scope includes 5 years' comprehensive maintenance services for the entire solar installation, positioning the company for substantial revenue generation over the maintenance period.
According to CNBC TV18, this contract award marks Oswal Pumps' first major order from Telangana and represents an important milestone in expanding the company's presence into new markets. Vivek Gupta, Chairman and Managing Director of Oswal Pumps, stated that the scale of the project reflects the company's technical and execution capabilities and added that the company remains focused on quality, timely delivery and long-term performance as it establishes a presence in the state. The company emphasized that the project would support the adoption of renewable energy infrastructure across educational institutions in Telangana while contributing to the state's broader clean-energy objectives. The comprehensive nature of the contract, including design, supply, installation, commissioning, and maintenance services, provides Oswal Pumps with a long-term revenue stream in the renewable energy space.
Despite the positive contract win, Oswal Pumps reported challenging financial results for Q1 FY27. On a consolidated basis, the company's net profit declined 42.82% to ₹54.14 crore while net sales declined 7.86% to ₹473.56 crore in Q1 June 2026 over Q1 June 2025. The company's stock has registered a decline of more than 44% year-to-date and has fallen almost 63% over the trailing 12-month period, as reported by CNBC TV18. However, the recent contract win is expected to provide substantial revenue opportunities and improve the company's financial performance in the coming quarters, with the stock showing resilience by breaking its two-day losing streak.
