Newly listed stock jumps 4% after securing ₹276 Cr order for 10,000 solar water pumps in Maharashtra

Synopsis: GK Energy received a Rs. 276.93 crore order from MSEDCL for 10,000 solar water pumps under the PM-KUSUM scheme in Maharashtra, to be executed within 60 days, boosting its presence in renewable energy and solar irrigation.

This company provides  EPC solutions for Solar Water Pumping Systems, Jal Jeevan Mission, Solar Rooftop is now in focus after it secured an order worth Rs. 276.9 cr from Maharashtra State Electricity Distribution Company Limited (MSEDCL).

With a market capitalisation of Rs. 3,148 cr, the shares of GK Energy Ltd are currently trading at Rs. 155 per share, increasing 4.5% in today’s market session, making a high of Rs. 158.80, up from its previous close of Rs. 151.85 per share. The stock, which was listed on September 26, 2025, on the BSE and NSE which has delivered a negative return of 8% since its listing.

About the order

GK Energy Limited has received an amendment to its Letter of Empanelment (LoE) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply and installation of an additional 10,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). 

These pumps are of 3 HP, 5 HP, and 7.5 HP capacities and will be installed across the state of Maharashtra under the Magel Tyala Saur Krushi Pump Yojana / PM-KUSUM B Scheme.

The total value of this order is Rs. 254.30 crore, which comes to Rs. 276.93 crore including GST. The work, which includes designing, manufacturing, transporting, installing, testing, and commissioning the pumps, is required to be completed within 60 days from the issuance of the work order or Notice to Proceed (NTP).

MSEDCL has highlighted a condition in this LoE that if the overall tender reaches 1,00,000 pumps, the remaining quantity in this specific LoE will be cancelled. This essentially means the order is conditional on the total progress of the larger state-wide tender.

This order strengthens GK Energy’s presence in the solar-powered irrigation sector and aligns with the government’s push for renewable energy and sustainable agriculture solutions in Maharashtra.

About the company 

GK Energy Ltd is a seasoned professional with over 15 years of experience, specialising in EPC solutions for solar water pumping systems, Jal Jeevan Mission, and solar rooftops. Currently, associated with the largest pure-play provider of EPC services for solar-powered pump systems under Component B of the PM-KUSUM scheme, contributing to approximately 15% of all installations under the program.

The company reported strong year-on-year growth for Q2FY26. Sales rose 33% to Rs. 358 Cr from Rs. 270 Cr in Q2FY25, EBIDT increased 37% to Rs. 71.8 Cr, and net profit grew 36% to Rs. 46.5 Cr. 

The company demonstrates a strong return profile, with a ROCE of 74.3% and a ROE of 101%. Its debt-to-equity ratio stands at 0.53, and it has maintained an impressive three-year average ROE of 97%, reflecting consistent profitability and efficient capital utilisation.

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