Shakti Pumps Invests INR 12 Cr in Subsidiary to Develop 2.20 GW Solar Cells and Modules Plant in MP
Shakti Pumps has invested INR 12 crore in its subsidiary Shakti Energy Solutions to set up a 2.20 GW solar DCR cell and PV module plant in Pithampur, marking a major backward integration move to strengthen supply chain control and support its rapid growth in the solar pumps segment.
July 14, 2025. By Mrinmoy Dey
Madhya Pradesh Industrial Development Corporation (MPIDC) has sanctioned 113 acres of land to Shakti Energy Solutions, located at Smart Industrial Township, Sector-7, Pithampur, for the said plant.
During an investor call, the company's Chairman, Dinesh Patidar, expressed confidence in achieving 20-25 percent growth in the current market conditions but highlighted the shortage of DCR cell-based modules as a limiting factor.
To address this, the company, in February 2025, tied up with ReNew Photovoltaic for an additional supply of DCR cell-based solar modules worth INR 1,300 crore for FY 2025-26. This is in addition to the existing partnership with Mundra Solar (Adani) and Premier Energies for the supply of DCR cell-based Solar modules.
Now, with this backward integration, the company is striving for greater control over the supply chain and solidify its position in the solar pumps market.
Shakti Pumps has reported an 83.6 percent jump in FY25 revenue to INR 25,162 million, driven by strong domestic and export performance and improved margins. The company’s Profit after Tax (PAT) increased to INR 4,084 Mn in FY25 from INR 1,417 million in FY24.
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