Jain Irrigation Systems has announced that it has received an order of Rs 135 crores with Maharashtra State Electricity Distribution Company (MSEDCL) under Magel Tyala Saur Krushi Pump Yojana/ PM-KUSUM B scheme.
In line with the contract the company undertakes the design, manufacture, supply, transportation, installation, testing and commissioning of 5,438 off-grid DC solar photovoltaic water pumping systems located in different parts of Maharashtra. The pumps will include 3 HP, 5 HP and 7.5 HP capacity pumps.
This empanelment falls in line with the government clean energy program that is meant to foster the use of solar powered irrigation among farmers and phasing out the use of traditional energy resources.
The recent allocation is after Jain Irrigation successfully completed Phase I of the scheme in December 2024, whereby the company has erected 4,180 solar pumps to an amount of Rs 103 crore.
Financial statement
Jain Irrigation has reported a 3 percent year-on-year growth in consolidated net profit in the quarter ended June 30 that is now pegged at Rs 14 crore as compared to the previous year which was Rs 13.6 crore. The quarterly Revenue was up by 4.6 percent to Rs 1,546 crore compared to Rs 1,478 crore in the same quarter last year.
Jain Irrigation systems are occupied in the industrialization of agriculture, piping, and infrastructure solutions by the production of Micro Irrigation Systems, PVC Pipes, HDPE Pipes and Plastic Sheets, Agro Processed Products, Renewable Energy solutions, Tissue Culture Plants and the Financial Services as well as other agricultural inputs.
Jain Irrigation Systems stock declined 0.21 percent on BSE to Rs 52.69.
