Crompton Greaves bags ₹101 Crore solar order from MEDA

13 Jun 2025 , 01:01 PM

Crompton Greaves Consumer Electricals Limited informed the bourses that it has received a Letter of Award (LoA) from the Maharashtra Energy Development Agency (MEDA). The order is for the supply and installation of 4,500 off-grid solar photovoltaic water pumping systems across Maharashtra.

The contract is valued at ₹100.68 Crore excluding GST. This falls under Component B of the Ministry of New and Renewable Energy’s (MNRE) PM-KUSUM scheme.

As per the terms of agreement, Crompton will carry out design, manufacturing, supply, transportation, installation, testing, and commissioning of the systems at different locations within the state. 

The company plans to complete the order within 90 days from receipt of order.

Crompton Greaves Consumer Electricals posted a 22.50% year-on-year growth in its net profit at ₹169.50 Crore for the quarter ended March 2025. In the previous corresponding period, the business posted a net profit of ₹138.40 Crore.

The business said that its revenue from operations registered growth of 5.10% on a year-on-year basis to ₹2,060.60 Crore. In the previous corresponding quarter, the business logged revenue of ₹1,961 Crore. EBITDA witnessed a growth of 29.90% to ₹264.40 Crore against ₹203.60 Crore in the same quarter of previous year.

At around 12.55 PM, Crompton Greaves was trading 0.16% lower at ₹343.20, against the previous close of ₹343.75 on NSE. The counter touched an intraday high and low of ₹344.20, and ₹336.75, respectively.

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