Oswal Pumps bags ₹247 Cr solar orders, potential ₹500 Cr revenue
Oswal Pumps Limited secured 63 MW rooftop solar project orders in Bihar for ₹247 crore. The company anticipates an additional ₹257 crore revenue over 10 years, totaling over ₹500 crore. Projects to be commissioned within 9 months, with 10-year O&M.
The new orders represent a significant addition to the company's order book, contributing a large value and diversifying revenue streams, which is expected to have a high impact on its financial performance and market position.
The company has received significant new orders with substantial order value and long-term revenue potential, indicating positive business growth and expansion.
Oswal Pumps Limited has secured three Letters of Award (LOAs) from North Bihar Power Distribution Company Limited (NBPDCL) and South Bihar Power Distribution Company Limited (SBPDCL) for setting up a cumulative capacity of 63 MW of Grid-Connected Rooftop Solar Projects across Bihar under the PM Surya Ghar - Muft Bijli Yojana (PMSG-MBY).
These orders, which cover 57,492 consumer installations across the Motihari, Saharsa, and Ara circles, represent an aggregate installation order value of approximately ₹247 crore. Additionally, there is a long-term revenue potential of approximately ₹257 crore over a 10-year horizon from energy supply under the RESCO model, bringing the total cumulative revenue opportunity to over ₹500 crore.
The projects are to be commissioned within 9 months from the execution of the respective Power Purchase Agreements (PPAs). The scope includes design, engineering, procurement, installation, commissioning, financing, and a mandatory 10-year operation and maintenance of the rooftop solar systems. The company views this as a significant strategic milestone, diversifying its revenue streams beyond its traditional PM Kusum portfolio and strengthening its presence in the distributed rooftop solar segment.
Commenting on the development, Mr. Vivek Gupta, Chairman and Managing Director, stated, "This award represents a pivotal milestone for Oswal Pumps as we scale our participation in the PM Surya Ghar programme and strengthen our position in the distributed solar ecosystem. It not only underscores our execution capabilities but also marks a strategic shift towards diversifying revenue streams beyond PM Kusum. We remain committed to delivering high-quality installations and supporting India’s transition toward clean, decentralised energy."
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Oswal Pumps Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Oswal Pumps Limited. Read the original for the full detail.