Oswal Pumps

Oswal Pumps received an additional order from Maharashtra State Electricity Distribution Company for 10,000 off-grid DC solar photovoltaic water pumping systems under the PM-KUSUM B Magel Tyala Saur Krishi Pump scheme. The contract was valued at approximately Rs235.92 crore inclusive of GST and required installation within 60 days, including system warranty, repair and maintenance and remote monitoring for five years. It followed an earlier Maharashtra Magel Tyala award for about 10,000 pumps valued at Rs250-300 crore, keeping the new award within the company's recent Rs250-300 crore order cluster. The company's order book stood at Rs1,700-1,800 crore against revenue of Rs2,064 crore in FY26, with non-government business at about 15%. Oswal Pumps manufactured submersible and centrifugal pumps, solar water pumps, electric motors and solar modules from integrated facilities, with 570-600 MW of captive module capacity operational.

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Oswal Pumps' wholly owned subsidiary Oswal Solar Energy approved setting up a greenfield 1.2 GW solar cell plant at Karnal, Haryana, on 10 October 2026. The parent board approved diverting Rs159.85 crore of unutilised initial public offering proceeds toward the cell plant in place of an aluminium frame facility and the remaining 500 MW of module and 300 MW of EVA encapsulant capacity, and extended the deployment schedule to financial year 2027 for existing objects and 2028 for the cell facility, subject to shareholder approval through a postal ballot. The total cost of the cell project was estimated at Rs455.85 crore for captive consumption meeting about 75% of the company's cell requirement, with the balance to be sourced externally. Oswal Pumps reported revenue of Rs2,064 crore in the year to March 2026 and manufactured submersible and centrifugal pumps, solar water pumps, electric motors, controllers, solar modules, structures and cables with almost all pump, motor and controller parts made in house. Its solar module capacity stood at 570-600 MW for captive use. The company had utilised about 75% of its Rs841.51 crore of net offering proceeds by 8 October 2026, with borrowings for the parent and the subsidiary fully repaid.

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Oswal Pumps received a letter of intent from Telangana Renewable Energy Development Corporation for the design, supply, installation and commissioning of on-grid solar rooftop plants totalling 46,705 kW across 9,937 government schools. The programme covered 2 kW, 5 kW and 10 kW systems with Mono PERC/TOPCON modules, normal structures and remote monitoring across 33 districts, along with five years of comprehensive maintenance. The order was valued at about Rs 297.50 crore including GST, against a quoted value of Rs 273.19 crore excluding GST, with installation to be completed within 180 days of the work order. Oswal Pumps is a vertically integrated maker of solar pumps, electric motors and solar modules marketed under the Oswal brand with more than two decades in pump engineering. Chairman and Managing Director Vivek Gupta said the award was the company's first major order from Telangana and marked expansion into a new market.

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** Shares of industrial machinery and equipment maker Oswal Pumps Ltd OSWP.NS up 6.5% at 291.40 rupees

** Biggest pct jump since June 12, 2026

** Co wins order worth 2.98 billion rupees ($31.18 million) from Telangana Renewable Energy Development Corp

** Order for design, supply, installation, and commissioning of rooftop solar power systems, with an aggregate capacity of 46,705 kilowatts for government schools in Telangana

** Installation to be completed within 180 days

** YTD, shares down nearly 45%

($1 = 95.5725 Indian rupees)

(Reporting by Saikeerthi in Bengaluru)

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Oswal Pumps secured a Letter of Award from North Bihar Power Distribution Company for 20 MW of grid-connected rooftop solar projects across 18,089 consumer sites in Darbhanga, Bihar, under the PM Surya Ghar scheme. The installation order was valued at about ₹78 crore including GST, while the 10-year RESCO energy-supply arrangement carried estimated revenue of ₹67 crore, for a total opportunity of about ₹145 crore. The projects were to be commissioned within nine months of execution of the respective PPAs and included 10 years of operation and maintenance. It followed the company's June award for 63 MW of Bihar rooftop projects, which carried ₹247 crore of installation value and ₹257 crore of annuity revenue over 10 years.

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Oswal Pumps received a Letter of Award from North Bihar Power Distribution Company to set up 20 MW of grid-connected rooftop solar projects for 18,089 consumers in Darbhanga under the PM Surya Ghar scheme. The installation award was worth about ₹78 crore including GST, with commissioning due within nine months of signing the respective PPAs and operation and maintenance for 10 years. Under the CAPEX-plus-RESCO model, the company estimated ₹67 crore of energy-supply revenue over the tenure, taking the stated cumulative revenue opportunity to about ₹145 crore. The award followed a ₹247 crore installation order from Bihar DISCOMs in June for 63 MW of rooftop solar projects; Oswal Pumps reported FY26 revenue of ₹2,064 crore.

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Aug 13 (Reuters) - Oswal Pumps Ltd OSWP.NS:

• GETS LOA FOR ORDER WORTH ABOUT 780 MILLION RUPEES

Source text:

Further company coverage: OSWP.NS

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Oswal Pumps Ltd announced on July 4 that it received an additional order from Maharashtra State Electricity Distribution Company Limited for 10,000 off‑grid solar water pumps under the PM Kusum B scheme, valued at ₹235.92 crore inclusive of GST. The contract covers design, supply, installation, testing, commissioning and a five‑year maintenance warranty for 3 HP, 5 HP and 7.5 HP systems at farmer sites across Maharashtra, with completion required within 60 days of the work order. This repeat award reflects strong customer confidence and significantly boosts the company's cumulative solar pump order book, cementing its role as a key partner in India's large‑scale solar irrigation programmes.

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Oswal Pumps Ltd said it received three Letters of Award from North Bihar Power Distribution Company Limited and South Bihar Power Distribution Company Limited to set up 63 MW of grid-connected rooftop solar projects across the Motihari, Saharsa, and Ara circles in Bihar under the PM Surya Ghar – Muft Bijli Yojana. The aggregate installation order is valued at approximately ₹247 crore, with an additional estimated long-term revenue potential of ₹257 crore from energy supply over a 10-year period under the RESCO model, bringing the total revenue opportunity to over ₹500 crore. The projects cover 57,492 consumer installations and are to be commissioned within nine months of signing the respective power purchase agreements, followed by a mandatory 10-year operation and maintenance period.

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May 6 (Reuters) - Oswal Pumps Ltd OSWP.NS:

• OSWAL PUMPS LTD - RECEIVES LOE FOR 6,869 SPWPS FROM MAHARASHTRA STATE ELECTRICITY DISTRIBUTION COMPANY

Further company coverage: OSWP.NS

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March 2 (Reuters) - Oswal Pumps Ltd OSWP.NS:

• RECEIVES ORDER VALUED AT 394 MILLION RUPEES

Source text: ID:nNSEbHhG9z

Further company coverage: OSWP.NS

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Jan 8 (Reuters) - Oswal Pumps Ltd OSWP.NS:

• ADDRESSES OBSERVATIONS IN CIRCULATING REPORT

• COMPANY CONFIDENT IN INTEGRITY OF FINANCIAL REPORTING

Source text: ID:nNSE7KN2pM

Further company coverage: OSWP.NS

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** Indian solar pumps maker Oswal Pumps OSWP.NS jumps 4.3% to 640.3 rupees on first day of trading

** Stock opened at 634 rupees vs issue price of 614 rupees; co valued at ~$843 million

** IPO consists of fresh share issue worth 8.9 billion rupees, sale of 8.1 million existing shares

** IPO was subscribed 34.42 times, driven by qualified institutional buyers subscribing by 88.08x

** "We believe the IPO offers attractive entry for medium- to long-term investors seeking exposure to the confluence of agri-infrastructure and clean energy," said Gaurav Garg, research analyst at Lemonn Markets Desk

** Proceeds from fresh issue to fund co's capex plans, set up units in Haryana state, trim co and subsidiary's debt

(Reporting by Manvi Pant in Bengaluru)

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