Synopsis: Madhav Infra Projects Limited announced the signing of nine Power Purchase Agreements (PPAs) for a total of 73.15 MW solar capacity with Madhya Pradesh Power Management Company Limited. This move strengthens its renewable energy portfolio under the PM-KUSUM C Yojana.
On April 23, 2026, Madhav Infra Projects Limited reached a key milestone by signing these nine PPAs with Madhya Pradesh Power Management Company Limited. The agreements are part of the “Feeder level Solarization” program of the PM-KUSUM C Yojana and have a long-term duration of 25 years from the planned commissioning date.
The energy produced will be sold to the MP government undertaking at an approved price between Rs. 2.71 and Rs. 2.73 per unit. This provides the company with predictable, long-term revenue. This step significantly expands Madhav Infra’s presence in the renewable energy sector and moves it toward a stronger independent power producer (IPP) model.
The stock showed strong momentum on the NSE, rising 3.87% to Rs. 9.40 by 14:03 IST. During the session, the stock reached an intraday and 52-week high of Rs. 9.50, reflecting high investor interest after the contract announcement.
With a market capitalization of Rs. 253.41 crore, the scrip saw a traded volume of 3.41 lakh shares, supported by a high deliverable percentage of 81.31%, indicating strong institutional or long-term buyer conviction. Despite the broader NIFTY 50 trading in the red, down 0.61%, Madhav Infra maintained its upward trajectory, comfortably outperforming the benchmark index.
Company Overview
Madhav Infra Projects Limited is based in Vadodara and focuses on infrastructure and energy. The company has transitioned from a traditional construction firm to a specialized player in solar power generation and power purchase agreements. With its recent listing on the NSE and a growing portfolio of government-backed energy contracts, it continues to expand its presence in the domestic power market.
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