Shakti Pumps shares surged more than 8% to reach an intraday high of ₹621.90 during Monday's trading session, compared to the previous close of ₹574.10 on Friday. According to NSE data, the stock was trading 4% higher at ₹597.50 at 12:13 pm on July 6. The stock has gained around 3% over the past week and 10.54% in the last month, though it remains down over 18% year-to-date and has declined 36% over the past year. Despite recent weakness, Shakti Pumps has delivered multibagger returns of 517% over the last three years and 368% over the past five years. The stock currently has a market capitalisation of ₹7,335 crore as of the Monday trading session.
Shakti Pumps (India) Ltd has secured a significant contract from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply of 15,000 off-grid solar photovoltaic water pumping systems across Maharashtra. According to the company's exchange filing on Saturday (July 4), the contract is awarded under the Magel Tyala Saur Krushi Pump Yojana and covers 3 HP, 5 HP and 7.5 HP solar water pumping systems. The order, valued at ₹353.89 crore (inclusive of GST), covers 3 HP, 5 HP and 7.5 HP solar water pumps for deployment across Maharashtra. As reported by NSE filings, the contract covers the complete execution of the project—from design and manufacturing to installation, testing and commissioning. A Photovoltaic Water Pumping System is used for multiple applications including agricultural irrigation, watering livestock, water supply for communities, and forest conservation.
The empanelment is valued at ₹353.89 crore, including GST, with the contract value standing at ₹324.96 crore excluding GST. As reported by NSE filings, the project must be executed within 60 days from the issuance of the work order or Notice to Proceed (NTP). The scope of work includes design, manufacture, supply, transportation, installation, testing and commissioning of the off-grid solar photovoltaic water pumping systems. The Magel Tyala Saur Krushi Pump Yojana was announced by the Maharashtra government in 2024 and aims to provide 10 lakh agriculture solar pumps for new connections to the farmers, with the state government expecting more than 10 lakh acres of land to come under irrigation.
The company's latest financial results show mixed performance trends. According to Business Standard, Shakti Pumps' consolidated net profit declined 65.2% to ₹38.33 crore in Q4 FY26 compared to ₹110.23 crore posted in Q4 FY25. However, revenue from operations jumped 28.9% YoY to ₹857.77 crore in the quarter ended March 2026. The company is engaged in manufacturing and sale of pumps, motors, VFDs, inverters, and related spare parts, with core products including engineered pumps, industrial pumps and solar pumps.
Following the contract announcement, Shakti Pumps stock ended 0.03% higher at ₹574.40 in the previous trading session. According to The Economic Times, after hitting a 52-week high of ₹979 apiece in July last year, the stock sharply tumbled over 53% in eight months to hit a 52-week low of ₹456.35 apiece in March this year. The stock has since recovered 36% from its March low. The shares have declined 39% in the last one-year, indicating mixed investor sentiment despite the significant contract win and recent recovery. The company's 52-week high was at ₹979 on July 1, 2025, while the 52-week low was at ₹456.35 on March 30, 2026.
