Oswal Pumps secures LoI worth Rs 297.50 crore from TGREDCO

Oswal Pumps has secured a Letter of Intent (LoI) worth around Rs 297.50 crore (including GST) from the Telangana Renewable Energy Development Corporation (TGREDCO). The LoI is for the design, supply, installation and commissioning of 2 kW, 5 kW and 10 kW on-grid solar rooftop PV power plants across 9,937 government schools in 33 districts of Telangana. The project covers an aggregate capacity of 46,705 kW (46.7 MW) and includes the deployment of Mono PERC/TOPCON solar modules, along with normal structures, RMS and comprehensive maintenance for a period of five years. The Installation is to be completed within 180 days from the date of receiving of work order. Impact : New Business Vector: Successfully executing an Engineering, Procurement, and Construction (EPC) rooftop solar mandate of this scale shifts Oswal Pumps from being viewed merely as a component/pump manufacturer to a full-fledged renewable infrastructure player. View: The stock has corrected significantly from its 52-week high of ₹803.45 to trade near ₹283.90, rendering its valuation increasingly attractive for a high-growth renewable player. Disclosure : I do not hold any position in the mentioned stock. Disclaimer : Investment in securities are subject to market risk. This is only for educational purpose.