OUR BUSINESS
Our Company was incorporated on July 15, 2003 with the manufacturing of low-speed monoblock pumps.
we expanded our operations to manufacture grid-connected high-speed monoblock pumps, gridconnected submersible pumps and electric motors.
- Solar Pumps
- Domestic Range
- Industrial Range
- Agriculture Range
- International Range
- Submersible Motors
- Steel Fabricated Submersible
- Accessories
Government of India launched the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan Scheme (“PM Kusum Scheme”) with a total ₹ 344 billion (USD 4.1 billion) central financial support with the objective of installing 1.40 million standalone solar agriculture pumps in off-grid areas to provide energy security for farmers, reduce the consumption of diesel, promote the use
of renewable energy in the agricultural sector and reduce environmental pollution.
PM Kusum Scheme also focuses on the solarization of 3.50 million existing grid-connected agricultural pumps and provides subsidies to individual farmers who have grid-connected pumps to retrofit their pumps with solar panels.
we decided to leverage our extensive experience in pump manufacturing and expanded our operations to manufacture solar
powered agricultural pumps in 2019.
We started supplying these pumps to players participating and providing Turnkey Solar Pumping Systems (defined below) under the PM Kusum Scheme, including Tata Power Solar Systems Limited.
We also supplied pumps to certain vendors empanelled under the Mukhyamantri Saur Krushi Pump Yojana launched by the Government of Maharashtra in 2019.
we started offering 233 turnkey solar pumping systems comprising solar powered agricultural pumps, solar modules, mounting structures, pump controllers and their installations (“Turnkey Solar Pumping Systems”), either directly or through third party bidders under the PM Kusum Scheme.
we have executed orders for 26,270 Turnkey Solar pumping Systems directly under the PM Kusum Scheme for several states such as Haryana, Rajasthan, Uttar Pradesh and Maharashtra.
we emerged as one of the largest suppliers of solar powered agricultural pumps under the PM Kusum Scheme, (i) providing Turnkey Solar Pumping Systems directly under the PM Kusum Scheme to farmers, (ii) providing Turnkey Solar Pumping Systems to players participating in the PM Kusum Scheme, and (iii) supplying only solar pumping system (including solar pump sets, solar modules, structures and balance of systems (“BOS”) kits and excluding installation services) to players participating in the PM Kusum Scheme.
We are the few fully integrated Turnkey Solar Pumping Systems providers in India with the capability to manufacture solar powered agricultural pumps, solar modules and pump controllers and provide installation services for such systems.
our capabilities as Turnkey Solar Pumping Systems provider, we commenced manufacturing solar modules for Turnkey Solar Pumping Systems in January 2023 through our wholly-owned subsidiary, Oswal Solar Structure Private Limited.
We also benefit from our associate company, Walso Solar Solution Private Limited, which manufactures mounting structures, BOS and essential components for Turnkey Solar Pumping Systems.
We have an extensive network of distributors in India, which has grown from 473 distributors as of March 31, 2022 to 636 distributors as of March 31, 2024.
OBJECTS OF ISSUE
- funding certain capital expenditure of our Company.
- investment in our wholly-owned Subsidiary, Oswal Solar, in the form of debt or equity, for funding the setting up of new manufacturing units at Karnal, Haryana.
- pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by our Company.
- investment in our wholly-owned Subsidiary, Oswal Solar, in the form of debt or equity, for repayment/prepayment, in part or full, of certain outstanding borrowings availed by Oswal Solar.
- general corporate purposes (collectively, the “Objects”).
Qualitative Factors
- Largest supplier of agri-solar pumps under the PM Kusum Scheme, well positioned to capitalise on strong industry tailwinds.
- Vertically integrated manufacturing competencies.
- Strong engineering and design capabilities.
- Comprehensive product portfolio in multiple product specifications.
- Strong presence in major agricultural states in India including Haryana and growing presence in other states.
- Extensive distribution network catering to a diversified customer base.
- Experienced Promoter and senior management team.
Oswal Pumps Comparison of Accounting Ratios with Peer Group Companies
- Kirloskar Brothers Limited .
- Shakti Pumps (India) Limited .
- WPIL Limited.
- KSB Limited.
- Roto Pumps Limited.
