India’s leading consumer electrical brand Crompton Greaves Consumer Electricals has bagged an order of INR 10.60 crore from Maharashtra Energy Development Agency (MEDA) to supply and install 433 solar water pumping systems under the central government’s PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme. This is a big win for Crompton in the renewable energy space, especially in solar based agricultural solutions.
Crompton Greaves – Scope of the Order
The Letter of Award (LoA) requires Crompton to design, manufacture, supply, transport, install, test and commission Solar Photovoltaic Water Pumping Systems (SPWPS) across various locations in Maharashtra. This is part of Component-B of the PM-KUSUM scheme which is focused on providing standalone solar powered agricultural pumps to farmers especially in off-grid and rural areas.
A Technological & Strategic Win
Crompton’s pumps are known for their durability, rust free stainless steel construction and corrosion resistant performance – making them ideal for long term use in demanding conditions like deep well irrigation, groundwater extraction and remote agricultural applications. Crompton’s five stage product development process, backed by robust R&D and advanced manufacturing capabilities puts them in a unique position to deliver on the quality expectations of government driven renewable projects.
According to Rajat Chopra, Business Head – Home Electricals & Pumps, Crompton Greaves Consumer Electricals
“This order for solar powered submersible pumps reiterates our commitment to quality, durability and innovation. Our smart, future ready solutions are designed to support India’s clean energy and water access goals.”
Market Impact & Investor Sentiment
After the announcement, Crompton Greaves stock rose 5% to INR 352.30 per share on 22 April 2025 as investors felt more optimistic about the company’s growth in solar and infrastructure space. The company has a market cap of INR 21,490.35 crore. Although it has seen some short term volatility in the last 6 months (down ~16%), the stock has given 11.8% return in the last 1 year – indicating long term investor confidence.
Also, Crompton reported 27.7% YoY growth in net profit for Q3 FY25 at INR 109.84 crore with revenues up 4.5% to INR 1,769.21 crore – indicating operational efficiency and strategic positioning.
Expanding Geographic Footprint
This is also a big step for Crompton in the solar pump tender space. The company has a presence in Haryana, Rajasthan and Maharashtra and now it is gearing up to start execution in Madhya Pradesh. The tender process which was initially managed by national bodies like SECI and MNRE has now shifted to state nodal agencies like MEDA, HAREDA, MPUVNL and RHDS and this gives us an opportunity to scale up our deployment footprint in India.
Industry Context: A Growing Market
India’s submersible pump market is booming driven by increasing demand in agriculture, rural water supply, urban infrastructure and industrial applications. Government’s push for clean energy adoption and the need for water supply in areas with erratic rainfall is creating a huge opportunity for solar powered pumping systems. PM-KUSUM is a key catalyst in promoting sustainable energy use in agriculture which is a key pillar for India’s long term environmental and food security goals.
Conclusion
This INR 10.60 crore order is more than a business win – it’s a proof point for Crompton’s evolution as a technology driven, sustainability focused player in India’s agricultural transformation journey. As solar meets rural innovation, companies like Crompton will play a big role in empowering India’s farmers with clean and reliable energy solutions and delivering consistent shareholder value in a volatile market.
The road ahead looks good not just for Crompton but for the entire green energy ecosystem we are building. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.