Synopsis
Sahaj Solar Limited, a prominent player in India’s solar energy sector, has secured a significant contract with Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) under the “Magel Tyala Saur Krushi Pump” Yojana / PM KUSUM B Scheme.
With market capitalization of Rs. 521 cr, the shares of Sahaj Solar Limited are currently valued at Rs. 237.20 per share from previous closing of Rs. 235.45 per share.
News
Sahaj Solar Limited has received a Letter of Empanelment (LoE) and Rate Contract from MSEDCL for the supply and commissioning of 2,185 off-grid DC solar photovoltaic water pumping systems (3 HP, 5 HP, and 7.5 HP) for farmers across Maharashtra.
The contract is valued at Rs.57.34 Crores (inclusive of GST), to be executed over one year, including a five-year warranty and remote monitoring. The order is part of the government’s PM KUSUM B Scheme aimed at promoting solar-powered agricultural pumps.
The contract strengthens Sahaj Solar’s position as a solution provider for agricultural solar pumping, underlining the growth of clean energy in Indian agriculture.
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About the company
Sahaj Solar Limited is a renewable energy solution provider company which gives them an edge in the solar power market and is mainly engaged in three businesses of manufacturing PV modules, providing solar water pumping systems and providing EPC Services.
The Company is engaged in providing solar water pumping systems. A solar water pump is an application of Solar PV System which converts solar energy into electricity to run a motor and pump. The motor energized by solar power delivers water out of the bore well, river, lake or pond. The key components of a solar water pumping system is a solar panel which is manufactured by the company.
Sahaj Solar has a 14-year manufacturing track record. In FY25, the company achieved a 13% EBITDA Margin. It boasts a strong order book of Rs. 304 crore as of March 31, 2025, and has executed over 40,000 solar water pumps. The company’s revenue grew at a CAGR of 52% from FY21-25. It has an annual capacity of 100 MW, with plans to increase this to 1500 MW by FY26-27. Additionally, it has signed projects for 27 MW with companies, industrial parks, and IPPs globally.
The company demonstrates strong financial performance with a Return on Capital Employed (ROCE) of 31.6% and a Return on Equity (ROE) of 37.8%. It has a good track record of profit growth, with a 131% CAGR over the past five years, and a robust three-year average ROE of 41.8%.
Written by Manideep Appana
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