Crompton Greaves wins Rs 30 crore MSEDCL solar pump order
Crompton Greaves Consumer Electricals Limited has received a letter of empanelment and rate contract from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply and installation of off-grid DC solar photovoltaic water pumping systems across Maharashtra. The contract is valued at approximately Rs 29.77 crore, excluding GST.
Order details
The order covers the supply and installation of 1,397 off-grid DC solar photovoltaic water pumping systems under the Mukhyamantri Saur Krushi Pump Yojana (MTSKPY)/Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM-B) scheme.
The scope of work includes the design, manufacture, supply, transportation, installation, testing and commissioning of the systems at various locations across Maharashtra.
In addition, the contract includes a comprehensive system warranty, repair and maintenance services, and remote monitoring for a period of five years.
Execution timeline
The systems are to be installed within 60 days from the date of issue of the Notice to Proceed or the work order.
The company said the order is domestic in nature and confirmed that neither its promoter, promoter group nor group companies have any interest in MSEDCL. It also stated that the contract does not constitute a related party transaction.
Crompton Greaves reported consolidated revenue of Rs 2,283 crore for the fourth quarter of FY2025-26, reflecting 10.8% year-on-year growth. Quarterly EBITDA stood at Rs 271 crore with EBITDA margin of 11.9%. The Board of Directors recommended a dividend of Rs 3 per share, representing a payout ratio of 42%. For the full financial year, consolidated revenue rose 3% to Rs 8,096 crore from Rs 7,864 crore in FY2024-25. EBITDA stood at Rs 827 crore with margin of 10.2%, while PAT before exceptional items was Rs 502 crore.
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