75+ Year-Old Electrical Consumer Durables Brand Bags Rs 100.68 Crore Solar Pump Order Under PM-KUSUM Scheme
On a year-to-date basis, the stock has declined over 13 per cent, although it has recovered 2.61 per cent in the past month.
Crompton Greaves Consumer Electricals Limited has secured a significant solar project order worth Rs 100.68 crore from the Maharashtra Energy Development Agency (MEDA). This development comes under the MNRE Component-B of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) scheme. The company will be responsible for the design, manufacture, supply, transport, installation, testing, and commissioning of 4,500 Off-grid Solar Photovoltaic Water Pumping Systems across various locations in Maharashtra. The execution of this large-scale order is expected to be completed within 90 days from the work order issuance date.
Reacting to the announcement, Crompton Greaves' stock opened 1.96 per cent lower on Friday, tracking broader market weakness driven by geopolitical tensions. However, it later gained over 1 per cent from its opening price. As of 9:30 am IST, the stock was trading at Rs 342.70 per share, down by just 0.32 per cent. On a year-to-date basis, the stock has declined over 13 per cent, although it has recovered 2.61 per cent in the past month.
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Commenting on the order, Mr. Rajat Chopra, Business Head – Home Electricals & Pumps at Crompton Greaves, said this was their largest solar pump order to date. He emphasized that it reinforces confidence in Crompton’s high-performance products and strong after-sales service. The company aims to support farmers by enabling clean energy access through efficient solar-powered irrigation systems.
Crompton Greaves recently declared its quarterly results for March 2025, posting a consolidated revenue of Rs 2,061 crore, a 5.10 per cent increase from Rs 1,961 crore a year earlier. The profit after tax (PAT) surged by 29.32 per cent to Rs 172 crore from Rs 133 crore in March 2024. For the full financial year ending March 2025, consolidated revenue rose to Rs 7,864 crore, registering a 7.53 per cent growth. Annual PAT reached Rs 564 crore, a jump of 27.60 per cent compared to the previous year's Rs 442 crore.
Crompton Greaves Consumer Electricals is a mid-cap firm with a strong legacy spanning over 75 years. It operates in two primary segments – Lighting and Electrical Consumer Durables – and markets its products under the “Crompton” brand in India and select export markets.
Disclaimer: The article is for informational purposes only and not investment advice.