Oswal Pumps Limited has announced the incorporation of a new step-down subsidiary, Oswal Doon Baran Bundi Solar Projects Limited, through its material wholly-owned subsidiary, Oswal Solar Energy Private Limited. This new entity was incorporated on May 06, 2026, to focus on solar power projects. This move aligns with the company’s strategic goal to strengthen its presence in the renewable energy sector and expand its project portfolio.

The newly formed subsidiary, Oswal Doon Baran Bundi Solar Projects Limited, is a special purpose vehicle (SPV) established in partnership with Doon Infrapower Private Limited. Oswal Solar Energy holds a 60% stake in the SPV, while the partner holds the remaining 40%. The entity is specifically designed to execute Rooftop Solar (RTS) Photovoltaic Power Projects on government buildings in Rajasthan under the Hybrid Annuity Mode (HAM). The scope includes design, supply, testing, and a comprehensive 25-year maintenance period following a letter of award for 33 MW capacity issued by the Rajasthan Renewable Energy Corporation Limited.

Oswal Pumps Limited, incorporated in 2003, is a leading vertically integrated manufacturer of solar-powered and grid-connected pumps, electric motors, and solar modules. The company has established a strong reputation as a key supplier under the PM Kusum Scheme, contributing significantly to India’s rural development and sustainable irrigation initiatives. Recently, the company secured a major order worth ₹1.62 billion from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for over 6,800 solar water pumping systems. Additionally, the company successfully launched its IPO in June 2025, which was oversubscribed by 28.44 times, highlighting strong market confidence.

For the quarter ended December 31, 2025, Oswal Pumps reported a robust revenue of ₹501.07 Crore, reflecting steady operational growth. The net profit for the same period stood at ₹90.73 Crore. In comparison to the corresponding period in 2024, the company saw a significant year-on-year revenue surge of 33.4%. The company’s shareholding pattern as of late 2025 and early 2026 indicates strong institutional interest, with notable holdings from the Quant Small Cap Fund and Mahindra Manulife Small Cap Fund. Promoter Vivek Gupta remains a significant stakeholder, maintaining a leading role in the company’s strategic direction.