Mumbai, July 15 -- GK Energy shares rose 2.48 per cent to Rs 142.70 after the company announced that it had received a Letter of Empanelment from the Maharashtra State Electricity Distribution Company for deployment of 10,000 off-grid DC solar photovoltaic water pumping systems. The empanelment covers the provision of off-grid DC Solar Photovoltaic Water Pumping Systems. The company said the scope included design, manufacture, supply, transportation, installation, testing and commissioning.
The order is valued at Rs 235.92 crore, equivalent to Rs 2,359.2 million (mn) and about 2.3592 billion (bn), and is scheduled to be executed within 60 days from the date of issuance of the work order or notice to proceed. The company described the engagement as a turnkey supply and installation project for 10,000 units intended for agricultural use. The filing to the stock exchange set out delivery and commissioning timelines and technical responsibilities.
The company clarified that the contract is not a related-party transaction and that neither its promoters nor promoter group entities have any interest in the deal. GK Energy is a decentralised renewable energy infrastructure company focused on solar-powered agricultural pumping systems, rooftop solar projects and distributed clean energy solutions. The project aligns with the company focus on distributed off-grid solutions for irrigation.
On a consolidated basis GK Energy reported that net profit rose 32.17 per cent to Rs 59.25 crore, equivalent to Rs 592.5 million (mn), while net sales rose 35.24 per cent to Rs 476.76 crore, equivalent to Rs 4,767.6 million (mn) or about 4.7676 billion (bn) in the quarter ended March 2026 compared with the year ago period. The company filed the results with the exchange as part of its scheduled disclosures. Investors noted the order and quarterly gains as supportive of near-term revenue visibility.
Published by HT Digital Content Services with permission from Construction World.