Crompton Greaves Consumer Electricals rose 1.91% to Rs 269.70 after the company announced that it has received an order from Haryana Renewable Energy Development Agency (HAREDA) for a solar water pumping system.
The firm bagged the order under the PM-KUSUM scheme for Haryana state.
The order includes supply, installation and commissioning of 7.5 HP DC, 10 HP AC and 10 HP DC solar photovoltaic water pumping systems worth over Rs 9 crore.
Total orders received till now from HAREDA stood at Rs 65.6 crore, said the company.
Meanwhile, Crompton has secured a letter of empanelment for 2,500 solar pumping systems in Maharashtra from MSEDCL (Maharashtra State Electricity Distribution Co) for 500 systems and MEDA (Maharashtra Energy Development Agency) for 2,000 systems.
The firm added that another letter of empanelment has been received for 1,000 solar pumping systems in Rajasthan from Commissionerate of Horticulture, Rajasthan.
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The total value of the letters of empanelment received stood at Rs 85 crore.
Crompton aims to deploy over 10,000 solar powered pumps under the PM-KUSUM Scheme in the next few years, in its efforts to make an impact in the energy efficiency category. Through an extensive after sales service network, technically equipped channel partner presence across India, top R&D and manufacturing facilities and a rigorous 5-stage product development process, Crompton can achieve its target of deploying in a wide range of highly energy-efficient and innovative solar water pumps, the company stated in the press release.
Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaries to pumps and household appliances such as water heaters, coolers, mixer grinders and irons.
The company reported 3% fall in consolidated net profit to Rs 85 crore despite of 12% increase in revenue from operations to Rs 1,693 crore in Q3 FY24 over in Q3 FY23.
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