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HomeMarket NewsStocks NewsJain Irrigation wins ₹135-crore order for solar pumps under PM-KUSUM in Maharashtra
This empanelment under the government’s clean energy initiative aims to promote solar-powered irrigation solutions, reducing farmers’ dependence on conventional energy sources. The project value is ₹135 crore plus GST. Shares of Jain Irrigation Systems Ltd ended at ₹52.80, up by ₹6.3, or 13.77%, on the BSE today (August 13).
Jain Irrigation Systems Limited on Wednesday (August 13) said it has secured a ₹135-crore order from Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the Magel Tyala Saur Krushi Pump Yojana/PM-KUSUM B scheme.
The contract involves the design, manufacture, supply, transport, installation, testing, and commissioning of 5,438 off-grid DC solar photovoltaic water pumping systems of 3 HP, 5 HP, and 7.5 HP capacity across districts in Maharashtra.
This empanelment under the government’s clean energy initiative aims to promote solar-powered irrigation solutions, reducing farmers’ dependence on conventional energy sources. The project value is ₹135 crore plus GST.
Also Read: NABARD sanctions ₹770 crore for two irrigation projects in Jharkhand
The allocation follows Jain Irrigation’s successful execution of phase-I in December 2024, when the company installed 4,180 solar pumps worth ₹103 crore plus GST.
First quarter results
The company reported a 3% year-on-year rise in consolidated net profit at ₹14 crore for the quarter ended June 30, compared with ₹13.6 crore a year earlier. Revenue increased 4.6% to ₹1,546 crore from ₹1,478 crore.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter rose 12.8% to ₹202 crore, while EBITDA margin improved to 13.07% from 12.11% a year earlier.
Jain Irrigation said demand growth in its micro-irrigation, tissue culture, exports and solar agri-pump segments supported revenue and margin expansion. However, lower mango prices affected its food processing division’s topline.
Also Read: Centre approves ₹6,282 crore Kosi Mechi project to expand irrigation in Bihar
The company is engaged in the manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro-processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.
Shares of Jain Irrigation Systems Ltd ended at ₹52.80, up by ₹6.39 or 13.77%, on the BSE today (August 13).
(Edited by : Shoma Bhattacharjee)
