What Oswal Pumps does

Oswal Pumps Limited is a publicly listed Indian manufacturer of solar submersible pumps, monoblock pumps, submersible pumps, electric motors, and related accessories, headquartered in Karnal, Haryana. Founded in 2003 and listed on NSE in June 2025, the company operates a vertically integrated 41,076+ sq. meter manufacturing facility producing in-house electrical stamping, winding wires, cables, CI/SG iron and stainless steel investment castings, aluminium die castings, thrust bearings, injection plastic moulding, and packaging. Its flagship solar products include the OSSL Series stainless steel solar submersible pumps, solar monoblock pumps, the Oswal Solar Pump Controller (MPPT), and the Oswal Genius Control Panel, complemented by industrial, agricultural, domestic, and international pump ranges meeting ISI, BEE 5-star, and NEMA standards.

The company derives revenue through four primary streams: (1) government-tendered one-time contracts under PM-KUSUM Component B and state schemes where it is empanelled with DISCOMs including MSEDCL, KREDL, and Bihar Power Distribution Companies; (2) long-duration RESCO and Hybrid Annuity Mode rooftop solar projects (10-25 years) executed through wholly-owned subsidiary Oswal Solar Energy and joint ventures such as Oswal Doon Baran Bundi Solar Projects; (3) pan-India dealer and distributor sales of hardware to retail farmers, agricultural customers, and industrial buyers; and (4) international export of stainless steel borewell submersible pumps to markets including the UAE and Saudi Arabia under Star Export House status. Disclosed FY26 revenue was Rs 20,859 million (+45.6% YoY) with 18.0% PAT margin, against an order book exceeding 110,000 solar pumps and an estimated 25-30% share of national PM-KUSUM Component B installations.

The customer base is dominated by Indian government and quasi-government counterparties (state DISCOMs, renewable energy development corporations), with MSEDCL, KREDL, and the Bihar DISCOMs being the largest named contract counterparties and TATA Power Solar as the key enterprise supply partner. Go-to-market combines enterprise field sales for direct government tendering with a multi-state dealer network for retail and export distribution. Recent strategic activity includes major contract wins across Karnataka, Maharashtra, Bihar, Andhra Pradesh, and Rajasthan, entry into rooftop solar EPC through Oswal Solar Energy, joint venture formation with Doon Infrapower, and inclusion in the Bharat VISTAAR AI agricultural advisory platform.

Name

Oswal Pumps

Legal name

Oswal Pumps Limited

Website

https://oswalpumps.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Oswal Pumps Limited is a vertically integrated Indian manufacturer of solar submersible pumps, monoblock pumps, and electric motors, serving government-backed farmer subsidy programs (PM-KUSUM, PM Surya Ghar), state DISCOMs, pan-India dealer networks, and export markets.

Ownership category

akta.pro rank

Product category

Solar Pumps

NAICS

Pump and Compressor Manufacturing (33391), Other General Purpose Machinery Manufacturing (3339), Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers (42372)

SIC

Pumps & Pumping Equipment (3561), Motors & Generators (3621)

akta.pro primary industry

Centrifugal Pumps (IMAHANAA)

akta.pro secondary industries

Pump Systems & Pumping Stations (Surface, Submersible, Booster) (AFAAACAC), Pump & Compressor Packages (Skids, Booster Sets) (IMAHANAG), Pumps & Plumbing Pump Accessories (Sump, Sewage, Booster) (IMADALAL)

Keywords

• Solar submersible pumps
• Agricultural irrigation pumps
• Monoblock pumps
• Electric motors
• Water pump manufacturing

Headquarters

HQ city

Karnal

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Government Project Contracts (PM-KUSUM & PM Surya Ghar): One-time revenue from design, manufacturing, supply, installation, and commissioning of solar pump systems under government schemes. Revenue recognised upon execution; cash collection dependent on subsidy disbursement timelines.
2. RESCO Model (Long-term Annuity): CAPEX-plus-RESCO contracts spanning 10-25 years where the company handles design, installation, financing, and maintenance while earning ongoing energy supply revenue from grid-connected rooftop solar installations under PM Surya Ghar.
3. Retail/Dealer Channel Sales: Sale of solar pumps, submersible pumps, monoblock pumps, electric motors, and accessories through a pan-India dealer and distributor network for domestic, agricultural, and industrial applications.
4. Export Revenue: International sales of stainless steel fabricated borewell submersible pumps matching global performance and efficiency standards, supported by NEMA standard compliance.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Oswal Pumps Limited manufactures and supplies solar submersible pumps, solar monoblock pumps, conventional submersible and monoblock pumps, electric motors, sewage pumps, and vertical multistage centrifugal pumps for domestic, agricultural, industrial, and export markets. The company operates a vertically integrated manufacturing facility producing all critical components in-house, and sells primarily through government tenders (PM-KUSUM, PM Surya Ghar) and a pan-India dealer-distributor network.

Product overview

Oswal Pumps Limited is a vertically integrated solar pump and motor manufacturer offering a comprehensive portfolio of water pumping solutions. The core product offerings include OSSL Series Solar Submersible Pumps and Solar Monoblock Pumps for residential, agricultural and industrial applications. These are complemented by Domestic Range, Agricultural Range, Industrial Range, and International Range pump lines spanning submersible pumps, monoblock pumps, sewage pumps, and specialized motors. Key components include Oswal Solar Pump Controller (MPPT controller), Oswal Genius Control Panel, Submersible Motors (4-inch and 6-inch series), and accessories such as submersible cables, winding wires, and electrical control panels. The company operates manufacturing facilities with in-house production of critical components including electrical stamping, die casting, winding wires, cables, thrust bearings, and injection plastic moulding, enabling vertical integration from raw materials to finished products.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar Pumps (OSSL Series Solar Submersible Pumpset and Solar Monoblock Pumps) MNRE-aligned solar submersible pumpsets (OSSL Series) and solar monoblock pumps for irrigation, residential, agricultural, and industrial water pumping; designed for grid-connected and off-grid solar operation with BEE 5-star efficiency.
• Domestic Range Pumps Long-lasting and reliable domestic pumps for watering gardens, sprinklers, fountains, cleaning, and high-pressure washing in homes and small establishments.
• Agricultural Range Pumps Pumps with optimum lift and discharge characteristics for agricultural fields, suitable for drip and sprinkler irrigation systems; includes V3-V12 stainless steel borewell submersible pumps in water-filled and oil-filled variants.
• Industrial Range Pumps and Motors Industrial pumps and motors for machinery, boiler, RO plants, sewage handling, and pressure boosting; includes electric motors for industrial machinery, high-pressure pumps, vertical multistage centrifugal pumps, sewage pumps, and squirrel cage induction motors (single-phase and three-phase, 0.25-5 HP).
• International Range Pumps (Export) Stainless steel fabricated borewell submersible pumps (including OSP Series, 1-10 HP, 50/60 Hz, NEMA-standard compliant) matching global standards in performance and efficiency for international export markets.
• Submersible Motors Induction motors for industrial applications including machine tools, textiles, air conditioning, dairy equipment, cranes, pollution control, aquaculture, agriculture, fertilizers, mines, and chemical industries; available in 4-inch and 6-inch series with power ranges from 0.5 HP to 50 HP.
• Oswal Solar Pump Controller (MPPT) MPPT solar pump controller that controls the solar pumping system, converting solar panel output to drive the connected pump efficiently.
• Oswal Genius Smart Control Panel Smart control panel for solar pump management with remote monitoring capability and optimised solar power utilisation for solar pumping installations.
• Sewage Pumps Pumps designed for handling sewage and wastewater in industrial and municipal applications.
• Vertical Multistage Centrifugal Pumps High-pressure multistage centrifugal pumps for industrial applications requiring elevated pressure delivery.
• Pump Accessories (Submersible Cables, Winding Wires, Electrical Control Panels) In-house manufactured submersible pump accessories including three-core flat cables (multi-strand twisted copper, insulation for submerged borewell use), poly-wrapped and PVC copper winding wires, and electrical control panels with overload and short-circuit protection.
• Squirrel Cage Induction Motors Induction motors for various industrial applications, available in single-phase and three-phase variants with power ranges from 0.25 HP to 5 HP.
• Centrifugal Monoblock Pumps Centrifugal monoblock pump sets available in 1440 RPM and 2880 RPM variants for domestic, agricultural and industrial water supply applications.

Quantifiable outcome

• 45.6% YoY revenue growth in FY26 to Rs 20,859 million
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Doon Infrapower Projects Private LimitedcoreStrategic or Co-development Partner · 8 May 2026Joint venture through Oswal Doon Baran Bundi Solar Projects Limited SPV (60% Oswal Solar Energy Private Limited, 40% Doon Infrapower) for executing rooftop solar photovoltaic projects on government buildings in Rajasthan. Project awarded by Rajasthan Renewable Energy Corporation Limited under Hybrid Annuity Mode with 25-year O&M contract.
• Swashakthi EnergyminorStrategic or Co-development Partner · 2 March 2026Swashakthi Energy was allocated rooftop solar capacity by New and Renewable Energy Development Corporation of Andhra Pradesh and assigned fulfilment to Oswal Solar Energy Private Limited for the 7.46 MW/3,729 consumer PM Surya Ghar contract.
• TATA Power SolarcoreStrategic or Co-development PartnerOswal Pumps is a major supplier of solar pumps and related components to TATA Power Solar for their solar energy projects. The partnership involves supply of solar submersible pumps and integration into TATA Power Solar's project execution. Oswal's photo gallery documents their collaboration as an official TATA Power Solar supplier.
• Oswal Solar Energy Private Limited (Wholly-owned Subsidiary)coreStrategic or Co-development PartnerOswal Solar Energy Private Limited is a wholly-owned subsidiary of Oswal Pumps Limited dedicated to rooftop solar projects. It executes projects under PM Surya Ghar scheme through various state agencies, including the 7.46 MW Andhra Pradesh contract and the Oswal Doon Baran Bundi joint venture SPV.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Shakti Pumps (India) Limited: Direct Indian competitor in solar submersible pumps and a fellow PM-KUSUM empanelled supplier with comparable product portfolio spanning solar, agricultural, and industrial pumps. Most relevant peer given near-identical GTM focus on government solar irrigation schemes.
• CRI Pumps Private Limited: Indian pump manufacturer with overlapping submersible, monoblock, and solar pump product lines serving agricultural, domestic, and industrial segments through a pan-India dealer network. Comparable vertically integrated manufacturing footprint and target customer base.
• Lubi Industries LLP: Indian manufacturer of submersible pumps, monoblock pumps, and motors with growing presence in solar pump segment under government schemes. Directly comparable in product range, manufacturing approach, and dealer-distributor channel structure.
• Texmo Industries (Taro Pumps): Indian submersible and monoblock pump manufacturer focused on agricultural and domestic applications with strong distribution in rural India. Comparable product mix though smaller in solar pump specialization.

Broad incumbents

• Kirloskar Brothers Limited: Largest Indian pump manufacturer offering centrifugal, submersible, and specialty industrial pumps with broader industrial focus. Comparable product category but serves larger infrastructure, municipal, and industrial customers rather than government solar irrigation schemes.
• Crompton Greaves Consumer Electricals Limited: Large listed Indian consumer durables and pump company offering residential and agricultural pumps. Overlaps on domestic and agricultural pump segments but broader portfolio includes fans, appliances, and lighting rather than solar specialization.
• Franklin Electric Co., Inc. Global leader in submersible pumps and motors for agricultural, industrial, and fueling applications. Comparable in submersible motor and pump technology, particularly relevant for Oswal's NEMA-compliant export products targeting similar use cases.
• Xylem Inc. Global water technology company offering pumps, filtration, and metering solutions across municipal, industrial, and agricultural segments. Comparable in centrifugal pump technology though much broader and focused on water utility and industrial markets.
• Grundfos Holding A/S: Global pump manufacturer specializing in circulator, submersible, and solar pump solutions with significant presence in India. Competes in same product categories but serves broader industrial and commercial segments alongside agricultural solar pumps.

Emerging players

• Mahindra Solarize / Mahindra Susten (under Mahindra Group): Mahindra Group's solar EPC arm active in PM-KUSUM and PM Surya Ghar rooftop solar execution, partially overlapping Oswal's government solar irrigation and rooftop solar EPC pursuits. Comparable in scheme participation though broader in solar EPC scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/oswalpumpsindia
• Facebookfacebook.com/oswalpumpslimitedindia
• LinkedInlinkedin.com/company/oswalpumpsltd

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oswal Pumps