Latest news with #PradhanMantriKisanUrjaSurakshaevamUtthanMahabhiyan
Hans India
23-07-2025
- Business
- Hans India
Progress of solar agri pump scheme reviewed
Bengaluru: Chief Minister Siddaramaiah has chaired a review meeting on the progress of the solar agriculture pumps scheme, KUSUM-B, and directed officials to expedite its implementation, officials said on Tuesday. KUSUM-B is Component B of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM KUSUM) scheme, which focuses on the installation of 14 lakh stand-alone solar agriculture pumps for irrigation. Under the scheme, solar-powered agricultural pump sets are being promoted with a 30 per cent subsidy offered by the Central government, 50 per cent given by the State government, and 20 per cent borne by the beneficiary farmers.
Time of India
02-07-2025
- Business
- Time of India
93K farmers benefit from solar pumps for irrigation purposes
Lucknow: More than 93,062 farmers benefited from the distribution of solar pumps for irrigation purposes, significantly reducing their cultivation expenses, govt said on Wednesday. This is part of the Solar Irrigation Pump Distribution Scheme under the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM). Under this scheme, farmers are eligible to receive up to 60% subsidy. Selection of farmers for the scheme is based on a token system and follows a 'first come, first served' model. At the time of application, farmers are required to deposit Rs 5,000 online as token money. For a 2 HP solar pump, the applicant must have a functional borewell of 4 inches; for 3 HP and 5 HP pumps, a 6-inch borewell; and for 7.5 and 10 HP pumps, an 8-inch borewell with an adequate water level is mandatory. Agriculture minister Surya Pratap Shahi said farmers seeking to reduce input costs and promote water conservation can apply under the PM-KUSUM scheme. "The scheme not only helps in increasing farmers' income but also reduces dependence on diesel for irrigation. It ensures access to free or low-cost electricity for irrigation and contributes to environmental conservation by cutting down the use of diesel pumps. Additionally, it supports efforts to address the challenges of climate change," the spokesperson said.
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Business Standard
23-06-2025
- Business
- Business Standard
Oswal Pumps share slips 7%, falls below IPO price after lacklustre debut
Oswal Pumps share price today: Shares of Oswal Pumps slipped 7 per cent to ₹580, falling below its issue price ₹614 on the BSE in Monday's intra-day trade. The company, engaged in compressors, pumps & diesel engines business, made a lacklustre debut on Friday, June 20, 2025. Including today's decline, the stock has fallen 11 per cent from its listing day's high of ₹649.15 on the BSE. At 10:09 AM, Oswal Pumps shares erased its entire intra-day losses and traded flat at ₹626 on the BSE. In comparison, the BSE Sensex was down 1 per cent at 81,549 levels. Oswal Pumps IPO details Oswal Pumps raised ₹1,387.34 crore via initial public offering (IPO). The public issue was a combination of fresh issue and Offer-for-Sale (OFS). The company did not receive any proceeds from the OFS. The company, however, intends to utilise the proceeds from the fresh issue for funding certain capital expenditure, investing in its wholly-owned subsidiary, Oswal Solar, through equity, funding the establishment of new manufacturing units in Karnal, Haryana, and for pre-payment/repayment, in part or full, of certain outstanding borrowings availed by the company. Oswal Pumps business outlook The pump industry plays a very pivotal role in sectors such as agriculture, manufacturing and residential. Increasing investments in the renewable energy sector like solar panels and advancements in pump manufacturing technology like smart pumps, pumps developed for specific use cases requiring highly specialised functions are poised to fuel growth for the global pump market in the future. This expansion will be supported by factors such as rapid urbanisation, rising demand in the power sector, and a focus on water recycling and wastewater treatment, among other drivers. Oswal Pumps derives its revenue from a diversified customer base, including institutional customers, government entities, and distributors. In FY22, 58.7 per cent of the revenue was generated from institutional customers, which increased to 75.6 per cent in FY23. However, this contribution declined to 43.4 per cent in FY24 and further to 7.15 per cent for the nine months ended December 31, 2024. The company did not generate any revenue from government entities in FY22 and FY23. However, in FY24, revenue from government entities accounted for 45.6 per cent, rising considerably to 78.51 per cent during the nine-month period ended December 31, 2024. ALSO READ | The company's recent growth has been largely driven by its participation in the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) scheme, raising concerns over concentration risk and the sustainability of this growth momentum. Additionally, the elongated working capital cycle and cash flow pressures add to the overall risk profile, according to Choice Equity Broking. Oswal Pumps is amongst the largest suppliers of solar pumps under PM Kusum Scheme for FY23 & FY24 and is one of the few companies with vertically integrated turnkey solar pumping system capabilities in India. The company currently has an order book of ₹ 1,100 crore which is ~0.8x of its 9MFY25 annualised revenue with an additional bid pipeline of ~₹ 3,200 crore indicating decent growth visibility. However, an overhang for the business would be its dependence on government projects/policy and delay in cash flow, SBI Securities said in its IPO note. About Oswal Pumps Oswal Pumps manufactures and distributes a diverse range of pumps for domestic, agricultural, and industrial applications. The company has executed orders for 26,270 turnkey solar pumping systems under the PM-KUSUM Scheme for several Indian states. Oswal Pumps operates a manufacturing facility in Karnal, Haryana, and has a growing network of distributors across India. The company exports its products to 17 countries across the Asia-Pacific, Middle East, and North Africa regions.
