Crompton Greaves secures solar pumping system order in Madhya Pradesh

Crompton Greaves Consumer Electricals Limited announced it has received a letter of empanelment from Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL). This order pertains to the design, manufacture, supply, transport, installation, testing, and commissioning of off-grid DC & AC solar photovoltaic water pumping systems (SPWPS) of 2 HP, 3 HP, 5 HP, and 7.5 HP capacity. These systems are part of Component -B of the PM KUSUM B scheme, which is being implemented in Madhya Pradesh as PM Krishak Mitra Surya Yojana.

The total work order value for this domestic contract, excluding GST, is approximately INR 4.24 Crores. The company is required to complete the installation of 159 off-grid systems within 60 days from the date of issuance of the work order. This contract is considered a domestic entity award and does not involve any related party transactions or interests from promoters or promoter groups.

The company stated that while the contract value is approximately INR 4.24 Crores, it is not considered material under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the company's Materiality Policy. This disclosure has been made voluntarily as a measure of good corporate governance.