Latteys Industries Limited has secured a major domestic contract worth ₹187.39 crore from the Maharashtra State Electricity Distribution Company Limited (MSEDCL), marking a significant milestone in the company’s renewable energy journey. The order reinforces Latteys’ growing presence in the solar-powered agriculture infrastructure space.
What Does the ₹187.39 Crore Order Include?
The total order value of ₹187.39 crore, excluding GST, goes well beyond just supplying equipment. Under this contract, Latteys Industries will deliver 7,369 off-grid DC solar photovoltaic water pumping systems across Maharashtra. These systems will include pumps of 3 HP, 5 HP, and 7.5 HP capacities, designed to meet the varied irrigation needs of farmers.
Importantly, the scope of work is comprehensive. Latteys will be responsible for the entire project lifecycle, including:
Design and manufacturing
Supply and transportation
Installation at site
Testing and final commissioning
This turnkey approach highlights the company’s execution capabilities at scale.
Project Timeline and Transparency
The project is scheduled to be executed in phases, with completion expected by December 2026. Financially and structurally, the contract maintains full transparency. It has been awarded by a domestic government utility, and the company has clearly stated that there is no involvement of promoters or promoter group entities in the awarding authority. Additionally, the order does not qualify as a related party transaction, ensuring the integrity of the deal.
Linked to Key Government Solar Schemes
This order is aligned with major government-backed initiatives such as the Magel Tyala Saur Krushi Pump Yojana and the PM-KUSUM B Scheme, both aimed at promoting solar-powered irrigation and reducing farmers’ dependence on grid electricity and diesel pumps.
Given the size and impact of the contract, its disclosure falls under SEBI Regulation 30, which requires listed companies to inform stock exchanges about material business developments.