Saatvik Green Energy shares rose to a day high of Rs 408 on 12 October, up 3%, after it won a Rs 100 crore solar water pump order in Maharashtra.

Saatvik Green Energy Limited told exchanges on Saturday, 10 October, that Maharashtra State Electricity Distribution Company (MSEDCL) has placed the order.

It covers 5,000 solar water pumps and is worth around Rs 100 crore, excluding GST. These pumps run on sunlight with no grid connection needed.

They come in three sizes, rated 3 HP, 5 HP and 7.5 HP, and will be installed at farmers’ sites across districts in Maharashtra. The scope is broad.

Saatvik will design, build, deliver and install the systems, then test them before handover. Included are maintenance, remote monitoring, and a five-year warranty.

The installation window is 60 days. It starts when the circle office issues the Notice to Proceed or work order.

The pumps come under the Magel Tyala Saur Krushi Pump Yojana, also known as PM KUSUM B. MSEDCL is a domestic customer and the order is on a commercial basis.

The company said its promoters and group firms have no interest in MSEDCL and that the deal is not a related-party transaction.

Last month, Saatvik accepted a Rs 1,041.63 crore order from the Solar Energy Corporation of India (SECI) to supply solar modules, due to be completed by December 2027.

The company mainly makes solar panels and also does EPC work, which covers engineering, buying and building projects.

At 10:41 am, it’s trading at Rs 400.10 on NSE, up Rs 4.15 or 1.05%. The share is still down about 25.1% over the past year but has gained around 6.2% this year.

Its 52-week range runs from Rs 328 to Rs 567, and its market value is about Rs 5,085 crore.

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