Crompton Greaves Bags ₹101 Crore Order for Solar Pumping Systems from MEDA

Crompton Greaves Consumer Electricals Ltd has secured a significant order from the Maharashtra Energy Development Agency (MEDA). The company will supply and install 4,500 off-grid solar photovoltaic water pumping systems across Maharashtra, as part of the Ministry of New and Renewable Energy's (MNRE) PM-KUSUM scheme. The project, worth ₹100.68 crore excluding GST, will contribute to the government's push for renewable energy adoption in the state.

The Solar Pumping System Order from MEDA

On June 12, 2024, Crompton Greaves announced that it had received a Letter of Award (LoA) from MEDA for the supply and installation of 4,500 solar pumping systems. The contract, valued at ₹100.68 crore excluding GST, is part of Component B of the Ministry of New and Renewable Energy's PM-KUSUM scheme, which focuses on the promotion of solar-based irrigation systems.

Under the agreement, Crompton Greaves will handle the entire project lifecycle, including:

• Design
   
• Manufacture
   
• Supply
   
• Transportation
   
• Installation
   
• Testing
   
• Commissioning

The project is expected to be completed within 90 days from the issuance of the work order. This contract aligns with the company’s growing focus on renewable energy solutions and further strengthens its presence in the solar energy sector.

Read More: IEX Achieves 24.7% YoY Growth in June 24!

Financial Performance in FY25

Crompton Greaves Consumer Electricals Ltd has witnessed solid financial growth in FY25, showcasing a strong performance across its key segments.

• Net Profit: The company reported a 22.5% YoY increase in net profit, amounting to ₹169.5 crore in Q4FY25 compared to ₹138.4 crore in Q4FY24.
   
• Revenue from Operations: Revenue grew by 5.1% YoY, reaching ₹2,060.6 crore, up from ₹1,961 crore in the previous year.
   
• EBITDA: Earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged by 29.9% YoY to ₹264.4 crore from ₹203.6 crore last year. This resulted in a higher EBITDA margin of 12.8%, up from 10.4% in Q4FY24.
   

Growth in Electrical Consumer Durables (ECD) Segment

Crompton Greaves' Electrical Consumer Durables (ECD) segment has been a major driver of its growth. In FY25, the segment saw an 11% YoY increase in revenue, primarily driven by strong performance in pumps and appliances.

• In Q4FY25, the ECD segment experienced a 6% YoY growth, with an EBIT margin of 16.7%.
   
• The company also launched two new in-house platforms: Nucleus and X-Tech, focusing on BLDC (Brushless Direct Current) and induction motors. This launch marks Crompton’s transition to a platform-first approach, aimed at better product offerings and market penetration.
   

The Role of Renewable Energy in Crompton’s Growth

Crompton Greaves' move into the renewable energy sector with its solar pumping system order is a strategic step towards diversifying its product portfolio. The PM-KUSUM scheme, under which the company secured this contract, aims to encourage solar power adoption in agriculture, primarily for irrigation. With 4,500 systems to be installed, this project not only enhances the company's position in the renewable energy market but also supports India’s vision of sustainable development.

Crompton Greaves Consumer Electricals Share Price Performance

On June 13, 2025, Crompton Greaves Consumer Electricals Limited share price opened at ₹341.90 on NSE. As of 9:42 AM, the stock was seen trading down by 0.49%.

Conclusion

Crompton Greaves Consumer Electricals Ltd is expanding its reach in the renewable energy sector with the recent solar pumping system contract valued at ₹100.68 crore. The company’s financial performance in FY25 has been robust, marked by significant growth in both revenue and net profit. The company’s focus on both traditional electrical consumer durables and renewable energy systems positions it well for future growth.

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