Shakti Pumps shares gained on Tuesday after the company received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 4,755 off-grid solar photovoltaic water pumping systems. 

The order is valued at Rs 103.01 crore before GST and around Rs 112.18 crore including GST. MSEDCL has awarded the order for the entire state of Maharashtra under the Magel Tyala Saur Krushi Pump Yojana, which promotes solar-powered irrigation systems for farmers.

The contract covers solar water pumping systems with capacities of 3 HP, 5 HP and 7.5 HP. Shakti Pumps will be responsible for the complete scope, including designing, manufacturing, transportation, installation, testing and commissioning of the systems.

The company will have to execute the order within 60 days from the issuance of the work order or Notice to Proceed. The relatively short execution period means the company will need to manage manufacturing, supply and installation activities across multiple locations in Maharashtra within a tight timeframe.

The latest order adds to Shakti Pumps’ growing business from MSEDCL. In September, the company received another Letter of Empanelment from the Maharashtra utility for 10,000 off-grid solar water pumping systems. That order was valued at Rs 235.92 crore including GST and also carried a 60-day execution timeline.

These contracts strengthen Shakti Pumps’ order visibility in the solar pumping segment. The company’s order book stood at around Rs 1,000 crore at the end of July 2026, according to market reports, giving it a sizeable pipeline for future revenue generation.

However, the stock has remained under pressure over the longer term. Shakti Pumps shares have lost more than 45% over the past year and were down nearly 40% in 2026 as of Tuesday, making fresh order wins important for rebuilding investor confidence.

At 2:55 pm, the shares of Shakti Pumps were trading 0.80% higher at Rs 446.95 on NSE. 

Unlock profitable opportunities every day! Tradz by EquityPandit provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Tradz by EquityPandit and start winning now!