APS Secures RS. 100 Crore plus Order from MSEDCL for 5,000 Solar Water Pumps Across Maharashtra

VMPL
Sabarkantha (Gujarat) [India], May 22: Australian Premium Solar (India) Limited (APS) has received a Letter of Empanelment (LOE) from Maharashtra State Electricity Distribution Company Limited (MSEDCL), a Government of Maharashtra undertaking, for the supply, installation, and commissioning of 5,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) at identified farmer sites across districts of Maharashtra. The aggregate value of the empanelment is approximately ₹100 Crore+. The order is a domestic award by MSEDCL and does not constitute a related party transaction.
The empanelment is a significant operational milestone for APS. Leveraging its end-to-end manufacturing and EPC capabilities, the company will handle supply, installation, and commissioning entirely in-house across multiple Maharashtra districts. The order directly expands APS's customer base into a new state geography and is expected to strengthen utilisation at its 400 MW TOPCon facility in Sabarkantha. Off-grid systems of this kind serve farm sites with limited grid connectivity, addressing one of the most persistent infrastructure gaps in rural India.
The order arrives against a backdrop of rapidly expanding government demand for solar agricultural infrastructure. PM-KUSUM is targeting millions of solar pump installations across India, and state distribution companies like MSEDCL are increasingly empaneling private manufacturers to accelerate last-mile deployment. For APS, which has built its manufacturing around TOPCon technology and holds ISO 9001 certification, the scheme represents a large and structurally growing addressable market.
The ₹100 Crore+ win is a concrete step toward APS's publicly stated revenue guidance of 30-35% CAGR over the next three years. With a government counterparty reducing credit risk, a new state geography unlocked, and further PM-KUSUM tender cycles anticipated, the order provides visible pipeline to support that trajectory.
"Government-backed initiatives like PM-KUSUM are unlocking a large and rapidly growing addressable market for solar agricultural infrastructure, and APS is strategically positioned to capitalise on this opportunity. We believe such order wins, combined with our expanding manufacturing capabilities, provide us with a strong foundation to achieve our targeted revenue guidance of 30-35% CAGR in the next 3 years."
-- Mr. Nikunjkumar Chimanlal Patel, Chairman & Executive Director, Australian Premium Solar (India) Limited
Australian Premium Solar positions itself as India's indigenous, high-quality solar manufacturing partner for critical national infrastructure. The MSEDCL empanelment reinforces that identity -- a company that delivers at scale, for governments, for farmers, for India.
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