Oswal Pumps Secures ₹39.40 Crore Rooftop Solar Order Under PM Surya Ghar Scheme

On 2 March 2026, Oswal Pumps Limited informed BSE and NSE that its wholly owned subsidiary had received a ₹39.40 crore rooftop solar contract; the award follows an allocation under the Government of India’s PM Surya Ghar: Muft Bijli Yojana through Andhra Pradesh agencies.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11 November 2024.

7.46 MWp Rooftop Solar Order Awarded By Swashakthi Energy

Oswal Solar Energy Private Limited formerly Oswal Solar Structure Private Limited has been awarded an order by M/s Swashakthi Energy for execution of 7.46 MWp grid-connected rooftop solar (RTS) systems.

The contract covers design, engineering, supply, installation, testing and commissioning of projects for 3,729 SC and ST consumers under the Utility-Led Aggregation (CAPEX) mode in APDISCOMs. The total order value is approximately ₹39.40 crore, inclusive of GST.

Swashakthi Energy was allocated 7.46 MWp of RTS capacity by New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP) under the Surya Ghar scheme and has assigned fulfilment to Oswal Solar Energy.

The contract includes five years of comprehensive operation and maintenance (O&M) from the date of installation and commissioning. The overall tenure extends up to five years accordingly.

The company confirmed that:

• The awarding entity is domestic in nature.
• The transaction does not fall within related party transactions.
• Promoters or promoter group entities have no interest in the awarding entity.

Regulatory note: Under the Utility-Led Aggregation (CAPEX) framework, project capital expenditure is structured upfront within sanctioned limits, with milestone-linked payments typically subject to commissioning certification and subsidy alignment under the central scheme.

Oswal Pumps Share Price Falls 3.04% On 2 March 2026

Shares of Oswal Pumps Limited settled at ₹306.05 on the NSE, down 3.04% from the previous close of ₹315.65, as of 3:30 pm IST on 2 March 2026.

During the session, the stock traded between ₹297.20 and ₹310.30. Market capitalisation stood at approximately ₹3,490 crore at close, while the price-to-earnings ratio was reported at 8.37, based on exchange data.

The decline came despite the order announcement during trading hours. Intraday volatility remained within a ₹13.10 range.

Business Profile And Solar Expansion Strategy

Oswal Pumps Limited manufactures solar pumps, grid-connected submersible and monoblock pumps, electric motors and solar modules marketed under the ‘Oswal’ brand. The company is listed on BSE (Scrip Code: 544418) and NSE (Symbol: OSWALPUMPS).

The rooftop solar contract marks a structured expansion into distributed residential solar deployment under a centrally supported subsidy framework. The PM Surya Ghar: Muft Bijli Yojana has received enhanced Union Budget allocations, potentially widening the addressable installation pipeline for EPC contractors and module-linked integrators.

In a press release dated 2 March 2026, Vivek Gupta, Chairman and Managing Director, stated that the award strengthens the company’s presence in the rooftop solar segment and aligns with policy-driven demand under the national programme.

Conclusion

The ₹39.40 crore order adds to Oswal Pumps’ renewable energy portfolio through its solar subsidiary, with revenue recognition likely phased across installation milestones and the five-year O&M period. While the disclosure reinforces participation in the PM Surya Ghar execution chain, the stock closed lower on the day of announcement.

Source:

• https://nsearchives.nseindia.com/corporate/OSWALPUMPS_02032026151811_SELetterOSEPLPMKusumOPL02032026.pdf
• https://www.nseindia.com/get-quote/equity/OSWALPUMPS/Oswal-Pumps-Limited