Oswal Pumps Limited secured a ₹162.06 crore order from Maharashtra State Electricity Distribution Company Limited (MSEDCL) on Wednesday for the supply and installation of 6,896 off-grid DC solar photovoltaic water pumping systems, the company disclosed to stock exchanges under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.
The order comes under the PM Kusum B Scheme — “Magel Tyala Saur Krishi Pump” Yojana — a central government programme to replace diesel and grid-powered irrigation pumps with solar alternatives. The Letter of Empanelment is valid for one year, with each installation required to be completed within 60 days of a Notice to Proceed being issued.
The scope of work covers design, manufacture, supply, transport, installation, testing, and commissioning of pumping systems in 3 HP, 5 HP, and 7.5 HP capacities at identified farmer locations across Maharashtra districts. The contract also includes a five-year system warranty, repair and maintenance obligations, and a Remote Monitoring System for each unit.
Oswal Pumps, headquartered in Karnal, Haryana, describes itself as a vertically integrated solar pump manufacturer with over two decades in pump engineering. The company listed on the NSE on June 20, 2025 and is currently part of the NIFTY IPO index.
The stock responded positively to the announcement, trading at ₹419.30 on the NSE as of midday Wednesday — up 2.21 per cent from its previous close of ₹410.25 — against a market cap of approximately ₹4,779 crore. The scrip has gained over 27 per cent in the past month, though it remains roughly 20 per cent below its year-to-date opening level and well off its 52-week high of ₹888.40 touched in August 2025.
The company confirmed there is no related-party interest involved in the awarding entity.