Crompton Greaves Bags ₹49 Cr Solar Pump Order! ☀️
Hey there, finance fam! 👋 Big news from the world of consumer electricals, specifically for shareholders of Crompton Greaves Consumer Electricals Limited (NSE: CROMPTON). The company, whose shares last traded around ₹320.75, has just announced a significant order win that’s sure to get some attention.
Crompton Greaves has secured a substantial contract worth approximately ₹49 Crores (excluding GST) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). This isn’t just any order; it’s for the design, manufacture, supply, transport, installation, testing, and commissioning of a whopping 1,884 Off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). 🌞💧
These solar pumping systems, ranging from 3 HP to 7.5 HP, are destined for identified farmer sites across Maharashtra. What’s more, the contract isn’t just about installation; it also includes a comprehensive system warranty, repair and maintenance, and a Remote Monitoring System (RMS) for a solid five years. This long-term commitment adds a layer of recurring revenue potential and strengthens Crompton’s service portfolio.
This project falls under the “Mangel Tyala Saur Krushi Pump Yojana/ PM Kusum Scheme B scheme,” a government initiative aimed at promoting solar energy use in agriculture. For Crompton, this order reinforces its presence in the renewable energy sector and its commitment to sustainable solutions, particularly in the crucial agricultural segment.
The company expects to execute this order within 60 days from the date of the work order’s issuance, indicating a relatively quick turnaround for such a large-scale project. This domestic order highlights Crompton’s strong capabilities and trusted position within India’s infrastructure development.
It’s always exciting to see companies like Crompton Greaves contributing to both national development goals and their own growth trajectory. Keep an eye on how this project unfolds! ✨
source: Corporate Announcement
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